In a recent revelation from the AFEX Wet Season Crop Production Report for 2023, Nigeria faces a critical challenge as the demand for rice significantly outpaces local production. The annual supply gap of approximately 2 million metric tonnes has triggered a noteworthy 37% surge in rice prices in 2023. Impact on Rice Dealers Rice dealers […]
As Kenya’s $2 billion Eurobond approaches maturity, the secondary market witnesses a surge in volatility. Traded on the Irish stock market, the 10-year sovereign bond, launched in June 2014, has experienced weekly yield fluctuations exceeding a percentage point since November. In contrast, other Eurobond issues maturing between 2027 and 2048 have shown more modest movements, […]
Moody’s Investors Services has painted a cautious outlook for global banks in 2024, citing a confluence of factors that could pose substantial challenges. The credit rating agency points to sluggish global growth, an elevated risk of borrower defaults, and increasing pressure on profitability as key concerns. The backdrop for these concerns includes prior central bank […]
Former Minister of Work and Housing, Mr Babatunde Fashola, delved into a pressing concern affecting Nigeria’s economic stability— the absence of a petroleum refinery, which contributes significantly to the nation’s foreign exchange demand, estimated at 30%. Fashola highlighted the far-reaching consequences of Nigeria’s reliance on imports due to the absence of a critical infrastructure like […]
The Kenya Mortgage Refinance Company (KMRC) has unveiled plans for a groundbreaking initiative – the Risk Sharing Facility (RSF). This initiative is designed to empower households in the informal sector, which constitutes an impressive 83.39 percent of Kenya’s workforce, by facilitating their access to home loans from banks and savings and credit cooperatives (saccos). The […]
The Biden administration has unveiled a comprehensive plan to regulate methane emissions from the U.S. oil and gas industry. This announcement, made at the United Nations COP28 climate change conference in Dubai, signifies a crucial step towards global efforts to curb the impact of methane, known as a ‘super pollutant,’ due to its higher warming […]
In a significant stride towards enhancing Angola’s energy landscape, Abu Dhabi’s clean energy company, Masdar, has revealed plans to construct a 150-megawatt solar power plant. The project, set to be located in Angola’s Quipungo region, aims to bring electricity to 90,000 homes, aligning with the country’s target to achieve a 60% national electrification rate by […]
The aftermath of the coronavirus pandemic has left China grappling with a historic surge in defaults, underscoring the depth of the country’s economic challenges and the hurdles hindering a complete recovery. As economic woes persist, a record-breaking 8.54 million individuals, predominantly aged between 18 and 59, find themselves officially blacklisted by authorities for failing to […]
Morgan Stanley Capital International (MSCI) has dealt a blow to Kenya’s global market aspirations by blocking new companies from joining its stock market platform. The move, influenced by concerns over dollar shortages and financial instability in Kenya, extends a freeze initiated by MSCI in August 2022, affecting not just Kenya but also Bangladesh, Egypt, and […]
Sri Lanka has successfully negotiated a historic agreement with a consortium of major international creditors, including economic powerhouses China, India, and Japan. The restructuring deal, amounting to approximately $6 billion, represents a key milestone in the nation’s efforts to navigate its financial challenges. This agreement is pivotal for Sri Lanka as it positions itself to […]
Kenyans holding virtual assets such as cryptocurrencies and other digital tokens could soon have the option to insure them under...
Goldman Sachs has issued a stark warning about mounting risks to global supply chains of rare earth elements and other...
BP, one of the world's largest integrated energy companies, has confirmed the preliminary results of the Volans-1X exploration well in...
By Brian NzomoOctober 22, 2025 Tether, the company behind the world's largest stablecoin USDT, has made a strategic investment in...
