Amidst the soaring cost of living in Kenya, low-income households find themselves grappling with the harsh realities of high inflation. A recently released report by the Kenya Institute for Public Policy Research and Analysis (KIPPRA) sheds light on the hardships endured by the nation’s less privileged citizens throughout 2022. Director of KIPPRA, Rose Ngugi, emphasized […]
In a remarkable display of bipartisan cooperation, the U.S. Congress successfully averted a potential government shutdown late on Saturday by passing a stopgap funding bill. The legislation received overwhelming support from both Democrats and Republicans after a significant shift in strategy. Initially, the Republican House Speaker Kevin McCarthy had faced pressure from hardline members of […]
Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), recently addressed the 78th United Nations General Assembly with a compelling proposal. He called for the rechanneling of $25 billion in Special Drawing Rights (SDRs) from the International Monetary Fund (IMF) to support Africa’s development aspirations. This move, if realized, could potentially mobilize an additional […]
In a significant development, the European Commission has given its nod to Kenya’s Economic Partnership Agreement (EPA) with the European Union. This move is a crucial step towards granting Kenyan goods duty-free access to the vast European market. The European Commission, responsible for negotiating trade deals on behalf of the EU, has formally endorsed the […]
In a noteworthy announcement, the International Monetary Fund (IMF) has highlighted a concerning financial consequence tied to climate change action. According to the IMF’s latest study, countries globally are on track to witness a substantial increase in their national debts by 2050, potentially reaching 45 to 50 percent of their GDP. This impending fiscal challenge […]
South Africa’s Department of Forestry, Fisheries, and the Environment has given its nod to TotalEnergies for offshore drilling operations targeting natural gas and oil reserves. This decision comes following the dismissal of an appeal by various individuals and interest groups who had raised concerns about the project. The rejected appeal aimed to stop TotalEnergies from […]
In a recent report, Barclays Plc has warned that global bonds are poised for continued decline unless a significant downturn in equities sparks renewed interest in fixed-income assets. Analysts at the bank, led by Ajay Rajadhyaksha, assert that there is no magic yield level that can automatically attract enough buyers to initiate a sustained bond […]
Kenya has taken a significant step toward enhancing economic stability within the African continent by formally joining the Pan African Payments and Settlement System (PAPSS). Trade Cabinet Secretary Moses Kuria made this announcement highlighting the pivotal implications of this move. The primary benefit of Kenya’s inclusion in PAPSS is that it now enables Kenyan companies […]
Egypt’s financial markets were sent into turmoil today as global financial giant Morgan Stanley downgraded the nation’s sovereign credit rating. This significant move stems from a combination of factors that have sparked concerns among international investors. One primary reason behind Morgan Stanley’s decision is the upcoming presidential election in Egypt, which has introduced a high […]
In a significant move towards bolstering regional financial stability, the Central Bank of the United Arab Emirates (CBUAE) and the Central Bank of Egypt (CBE) have formally entered into a bilateral currency swap agreement worth more than $1 billion. This strategic collaboration announced on Thursday, stands as a testament to the strengthening economic ties between […]
In a momentous stride for its industrial and economic landscape, Egypt has officially inaugurated the first home appliance factory for...
In a pivotal moment for Kenya's economic trajectory, President William Ruto has officially assented to three critical National Assembly Bills:...
In a significant pronouncement that reverberates through the burgeoning digital asset landscape, the Bank for International Settlements (BIS), often referred...
The Coca-Cola Company, a global beverage giant, has unveiled a groundbreaking study highlighting its monumental socio-economic impact across the African...
