Kenya and Tanzania are poised to strengthen their energy collaboration as the African Development Bank (AfDB) stresses the importance of expediting three key agreements. Valued at Sh43 billion ($309.26 million), these agreements aim to facilitate the exchange of surplus electricity between the two nations. Central to these agreements are a wheeling agreement between Tanzania Electric […]
In a tug-of-war over energy dominance, Kenya finds itself counting the costs of a bitter dispute with its neighbor, Uganda, as the latter pivots towards Tanzania for oil imports. Since October last year, tensions have simmered between the two East African nations, fueled by Uganda’s decision to seek alternative energy partnerships. Following Uganda’s announcement in […]
The International Monetary Fund (IMF) has revised upwards its growth projections for emerging Asian economies, foreseeing a solid expansion of 5.2% in 2024, despite a modest deceleration from the previous year. This adjustment, reflecting stronger-than-anticipated growth in China, signals promising economic resilience across the region. China, a pivotal driver of regional growth, has seen its […]
The Democratic Republic of Congo (DRC) has sealed a crucial partnership with Chinese construction giants, marking a significant milestone in the mining sector’s development. Under the agreement, Sinohydro Corp and China Railway Group Limited will invest $7 billion in infrastructure projects within the DRC as part of the Sicomines copper and cobalt joint venture. The […]
Morocco has announced a strategic move to bolster its renewable energy sector with a substantial annual investment of $1 billion in solar power projects. This initiative reflects the nation’s commitment to advancing its renewable energy goals while simultaneously reducing dependence on energy imports. According to a report from Hespress, Morocco’s plan entails steadily increasing its […]
A recent report by the Institute of Public Finance (IPF) has sounded the alarm bells for Kenya’s economic future, citing significant risks of a debt crisis. Despite years of substantial borrowing, Kenya has struggled to translate these financial injections into tangible economic growth and employment opportunities. During the unveiling of the MacroFiscal Analytic Snapshot (MFAS) […]
NEW YORK/LONDON – Global stocks edged up marginally on Friday following the release of US inflation data by the Federal Reserve. The MSCI world equity index, tracking shares from 49 nations, recorded a slight 0.08% gain, reflecting cautious optimism among investors amidst concerns over government debt. The US Federal Reserve’s preferred inflation gauge, the Personal […]
In a recent statement, Maxim Rybnikov of S&P Global Ratings raised concerns about Israel’s sovereign credit rating amidst the ongoing conflict with Hamas. Rybnikov warned that if the conflict expands beyond Gaza, it could prompt a downgrade in Israel’s credit rating. The decision to shift Israel’s outlook to “negative” from “stable” in October reflects apprehensions […]
President William Ruto’s affordable housing initiative faced a hurdle today as the Court of Appeal declined the government’s request to continue collecting the housing levy. The panel of judges cited public interest in awaiting the resolution of legal issues before extending the levy. Undeterred by the setback, President Ruto reaffirmed his commitment to the housing […]
Egypt and Hong Kong are set to deepen their economic ties with a focus on pragmatic collaboration in key financial areas. Egypt’s Minister of Finance, Mohamed Maait, and Hong Kong’s Secretary for Financial Services and the Treasury, Christopher Hui, convened during the Asian Financial Forum to discuss avenues for mutual growth amidst global economic uncertainties. […]
Kenya's fiscal deficit is projected to widen by 10.23 percent in the 2026/27 financial year (FY), signaling renewed pressure on...
Financial markets are experiencing a significant shift as the benchmark US 10-Year Treasury Yield has decisively fallen below the critical...
A comprehensive demographic research study conducted by the International Labour Organisation (ILO) has revealed alarming statistics about Nigeria's employment landscape,...
Africa's electric mobility story has long been characterized by unfulfilled promise rather than tangible progress. Infrastructure remains scarce across the...
