Nigeria has launched a new online portal aimed at providing detailed information about the country’s mineral resources to potential investors. The Nigeria Mineral Resources Decision Support System (NMDSS) is designed to streamline access to data on Nigeria’s geological and mineral wealth, making it easier for investors worldwide to make informed decisions. The mining minister, Dele […]
Today marks a pivotal moment in Kenya’s fiscal arena as the Finance Bill 2024 takes center stage in a special parliamentary session. This legislative initiative aims to introduce a series of tax reforms and empower the Kenya Revenue Authority (KRA) with newfound authority, sparking debates and discussions nationwide. The Finance Bill 2024 proposes significant changes […]
The global gold market witnessed a notable surge in prices over the past week, with gold prices climbing by 2.6% to reach $2,378 per ounce—a level not seen in the past two weeks. Analysts attribute this uptick to the enduring appeal of gold, buoyed by expectations of potential interest rate cuts in response to recent […]
In a move aimed at bolstering Nigeria’s informal sector, the Federal Government is set to introduce significant tax reforms. Mr. Taiwo Oyedele, chairing the Presidential Fiscal Policy and Tax Reforms Committee, unveiled this initiative during the committee’s closing session in Abuja. The proposed reforms target the bulk of businesses in the informal economy, offering tax […]
Kenya, alongside Ethiopia, Rwanda, Tanzania, and Uganda, has been chosen to spearhead the COMESA East Africa Communality (EAC) Horticultural Accelerator (CEHA) initiative. CEHA aims to enhance the horticultural sector across Eastern and Southern Africa. Dr. Mohamed Kadah, Assistant Secretary General Programmes at the COMESA secretariat, outlined CEHA’s vision during the launch of its Kenya Chapter. […]
The Bank of England maintained its main interest rate at a 16-year high, standing firm at 5.25 percent, but hinted at a potential cut in the summer amidst cooling UK inflation and signs of economic recovery. Governor Andrew Bailey emphasized the need for further evidence of sustained low inflation before considering a rate reduction. However, […]
Egypt’s economic development took center stage during the recent “IFC Day in Egypt” conference, where key stakeholders convened to discuss strategies for enhancing the country’s private sector. Led by Minister of Trade and Industry Ahmed Samir, alongside ministers, officials, and business leaders, the event, organized by the International Finance Corporation (IFC), highlighted the strategic partnership […]
After weeks of negotiations and mounting pressure, Kenya’s medical landscape is poised for a significant shift as doactors and the government have finally reached a landmark agreement to end the prolonged strike that has gripped the nation since mid-March. In a televised ceremony witnessed across the country, representatives from the Kenya Medical Practitioners, Pharmacists, and […]
The latest Bureau of Labor Statistics report released Friday unveils a notable slowdown in US job growth, with just 175,000 positions added in April, marking the lowest surge since October of the previous year. This deceleration in job gains coincides with the Federal Reserve’s efforts to temper demand and curb soaring inflation. Market Reaction: Investors […]
Ugandan President Yoweri Museveni’s recent announcement regarding taxation policies has ignited a trade dispute with Kenya. Museveni defended Uganda’s decision to increase taxes on agricultural imports from Kenya, emphasizing its strategic importance in bolstering Uganda’s economy. Under Uganda’s revised tax policy, consumer goods face increased taxation while essentials for production and industrialization remain exempt. Museveni […]
Ethiopia has firmly established itself as Africa's second-largest destination for foreign direct investment, trailing only Egypt, in a development that...
India-based diversified conglomerate DCM Shriram Ltd has secured $90 million in financing from the International Finance Corporation (IFC) through the...
Chinese electric vehicle manufacturer BYD is preparing to launch its premium electric vehicle Denza Z9GT in Europe, introducing a new...
Japan has begun releasing oil from its emergency reserves as the global energy market faces renewed turmoil following the effective...
