The American housing market is navigating choppy waters as existing home sales faced a 0.7 percent decline in August, according to the latest data from the National Association of Realtors (NAR). This trend reflects the challenges posed by rising mortgage rates and limited supply. Existing home sales reached an annual rate of 4.04 million units […]
In the wake of a coup that ousted Niger’s democratically elected president, the country finds itself grappling with a severe economic crisis, further exacerbated by West African sanctions. These measures, intended to force a return to democracy, are taking a heavy toll on one of the world’s poorest nations. Food and medicine shortages have become […]
Kenya is facing a substantial increase in interest payments on its loans, driven by a weakening shilling. The National Treasury expects these payments to rise sharply, reaching Ksh 918.9 billion for the fiscal year ending June 2024. This marks a significant 33.7 percent increase from the previous year’s Ksh 687.3 billion. The key factors contributing […]
The 10-year Treasury yield witnessed a remarkable spike, reaching its highest level in 16 years, briefly hitting nearly 4.57% before settling at 4.51%. This surge was triggered by increasing speculation surrounding the Federal Reserve’s upcoming interest rate decisions and comments made by JPMorgan’s CEO, Jamie Dimon. The main driver behind this abrupt surge in yields […]
United Bank for Africa (UBA), a leading pan-African financial institution, has unveiled a substantial $6 billion initiative aimed at bolstering the growth of Small and Medium Enterprises (SMEs) across the continent. UBA, known for its global presence with offices in the UAE, New York, London, and Paris, issued a statement on Monday outlining its plan […]
The Central Bank of Kenya (CBK) has initiated a strategic move to secure an additional Sh15 billion by reopening two September bonds. This decision comes as the fiscal agent for the government endeavors to maintain control over investor expectations and manage yields on government paper. In this offering, CBK is reopening two bonds with varying […]
In response to a growing fuel crisis and a pressing need to ensure a successful harvest season, the Russian government has strategically adjusted its export restrictions. This decision aims to alleviate the nation’s fuel woes, characterized by widespread shortages and rising wholesale prices. The newly introduced changes permit the export of fuel intended for bunkering […]
In a widely anticipated move, Ghana’s central bank announced today that it would keep its main interest rate steady at 30.00%. This decision, as forecast by a Reuters poll of analysts, comes against the backdrop of a complex economic landscape in the West African nation. Ghana, known for its production of cocoa, gold, and oil, […]
In a thoughtful address delivered at the United Nations General Assembly in New York, Kenya’s President William Ruto has urged developed nations to embark on a comprehensive debt restructuring initiative. This initiative aims to provide timely assistance to vulnerable countries grappling with mounting sovereign debt burdens, preventing them from teetering on the brink of financial […]
The American housing market is navigating choppy waters as existing home sales faced a 0.7 percent decline in August, according to the latest data from the National Association of Realtors (NAR). This trend reflects the challenges posed by rising mortgage rates and limited supply. Existing home sales reached an annual rate of 4.04 million units […]
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...
A transformative era has dawned for chilli farmers in Kenya's coastal region with the official commissioning of a state-of-the-art Sh250...
