Ghana, renowned for being the world’s second-largest cocoa producer, is confronting a severe threat to its cocoa industry from illegal mining, locally known as “galamsey.” This challenge is exacerbating the nation’s economic crisis, marked by a daunting 26.4% inflation rate in November. Michael Kwarteng, director of anti-illegal mining activities at the Ghana Cocoa Board (COCOBOD), […]
In response to unexpected fiscal challenges arising from lower-than-anticipated tax collections, Kenya’s National Treasury has revised its domestic borrowing target for the current financial year. This adjustment comes as the government grapples with the complexities of President William Ruto’s ambitious first full-year budget of nearly Sh3.9 trillion. The latest figures reported in the Kenya Gazette […]
India has solidified its position as the world’s leading recipient of remittances, experiencing a remarkable 12.3% surge in 2023, with an influx of $125 billion. This substantial increase not only highlights the financial contributions of the Indian diaspora but also underscores their pivotal role in fortifying the nation’s economic foundations. The United States remains the […]
TotalEnergies, a major player in the global energy sector, has unveiled plans for a substantial $6 billion investment in Nigeria’s energy landscape. The commitment was underscored during a pivotal meeting between TotalEnergies’ CEO, Patrick Pouyanne, and Nigeria’s President, Bola Tinubu, held in Abuja on Monday. The French energy giant aims to reinforce its foothold in […]
Latest Treasury bills auction unfolded with a remarkable uptick in investor interest, propelling one-year T-bill rates beyond the 16% mark, a significant leap from the previous week’s 15.79%. This surge was a direct response to the Central Bank of Kenya’s (CBK) strategic decision to raise its base lending rate by two percentage points during the […]
In response to the escalating year-end liquidity demand, China’s central bank, The People’s Bank of China (PBOC), recently reinstated the use of 14-day reverse repos. This strategic move, the first in three months, injected a total of 244 billion yuan ($34.28 billion) into the market through open market operations. Of this, 184 billion yuan utilized […]
In a recent report, HSBC has delivered a stark warning about Egypt’s economic future, predicting a further depreciation of the Egyptian pound against the US dollar. The forecast, ranging from 45 to 50 EGP, is slated for the first quarter of 2024, adding a layer of complexity to the country’s ongoing economic challenges. This cautionary […]
London, UK – The Bank of England (BoE) delivered a pivotal decision on Thursday, opting to retain its key interest rate at 5.25 percent, marking the highest level seen in over 15 years. This measured move follows a series of strategic interest rate hikes aimed at addressing persistently high inflation and the associated challenges posed […]
Ethiopia’s economic woes deepened as Fitch Ratings delivered a significant blow, downgrading the nation’s credit rating to “C.” The downgrade, triggered by a recent failure to meet a $1 billion Eurobond payment, marks the lowest level before an outright default. Challenges Mount: Economic Struggles and Civil Unrest Fallout The missed payment exacerbates Ethiopia’s existing economic […]
In a strategic move to bolster Kenya’s economic vitality, the World Bank has given the nod to the Kenya Jobs and Economic Transformation Project (KJET), earmarking a substantial Sh23 billion to empower the micro, small, and medium enterprises (MSMEs) sector. With a keen eye on job creation, increased private sector investments, and enhanced market access, […]
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...
