U.S. banks are gearing up for an extended period of pressure on their net interest margins (NIM), even with the looming prospect of Federal Reserve rate cuts, according to insights from S&P Global Market Intelligence. The recent interest rate hikes by the Federal Reserve have catalyzed a significant shift among consumers, redirecting them towards higher-yielding […]
In a strategic move to bolster the stability and resilience of Kenya’s financial sector, the National Treasury is actively considering a revision of commercial banks’ core capital requirements. The current minimum threshold, set at Sh1 billion since 2012, is under scrutiny, signaling potential consolidation activities among smaller lenders. Outlined in the 2024 draft Budget Policy […]
In response to the looming threat of maize lethal necrosis disease, Malawi has taken a strategic step by temporarily banning the import of unmilled maize from its key suppliers, Kenya and Tanzania. The Ministry of Agriculture issued a comprehensive statement, underlining the gravity of the situation. The disease, with no known treatment, poses a serious […]
In a significant economic downturn, the United Kingdom finds itself on the brink of a technical recession as newly revised data reveals a contraction of 0.1% in Gross Domestic Product (GDP) between July and September. This downward adjustment, compared to the initial estimate of flat growth, is coupled with a revised stagnant growth of zero […]
Ethiopia finds itself at a financial crossroads as it becomes the third African nation to default on a Eurobond repayment, echoing the economic struggles seen in Zambia and Ghana. Governor Mamo Mihretu, leading the National Bank of Ethiopia, confirmed the failure to meet a $33 million “coupon” payment on the country’s only international government bond. […]
The Hustler Fund, a cornerstone initiative aimed at supporting micro, small, and medium enterprises (MSMEs), is grappling with a significant hurdle as loan defaults by Kenyan borrowers reach a critical Sh9.9 billion. Launched with optimism by President William Ruto and Prime Cabinet Secretary Musalia Mudavadi at the Green Park Terminus in Nairobi last year, the […]
In a significant move to combat years of escalating inflation, Turkey’s central bank, led by former Wall Street banker Hafize Gaye Erkan, has implemented a bold 250-basis-point increase, pushing the key interest rate to 42.5%. This strategic decision comes on the heels of an intensive seven-month tightening cycle, totaling a substantial 3,400 basis points. Anticipation […]
In a surprising turn of events, Angola has announced its departure from the Organization of the Petroleum Exporting Countries (OPEC), citing a divergence of interests. This decision, rooted in a dispute over Angola’s 2024 output quota, has raised concerns about the unity within OPEC and its broader coalition, OPEC+. Angola’s Oil Minister, Diamantino Azevedo, stated […]
In a significant development, Saccos have achieved a major milestone by crossing the Sh1 trillion mark in member deposits. Despite economic challenges prompting some withdrawals for immediate needs, the State Department of Cooperatives reports a robust 15.6 percent surge in savings, reaching Sh1.047 trillion in the year to June 2023 from Sh906 billion. This remarkable […]
In a notable development, the interest rate on the widely-used 30-year fixed-rate mortgage in the United States dropped to 6.83% last week, marking its lowest point since June. The Mortgage Bankers Association’s report on December 20 revealed a significant 24 basis points decrease in the average contract rate during the week ending December 15. This […]
Kenya's inflation rate edged lower to 4.5% year-on-year in November 2025, down from 4.6% in October, marking the 29th consecutive...
The euro zone's annual inflation rate edged higher to 2.2% in November 2025, according to flash estimates published by Eurostat...
South Africa's economy maintained its upward trajectory in the third quarter of 2025, expanding by 0.5% quarter-on-quarter, according to data...
The International Finance Corporation and the Kenya Investment Authority have entered into a strategic collaboration that establishes a comprehensive framework...
