In a bid to stimulate economic growth and attract investment, Machakos County has identified avocado, coffee, and cotton as key sectors for development. Cabinet Secretary for Investment, Trade, and Industry, Rebecca Miano, commended Machakos’ strategic focus on becoming an investment hub, aligning with the government’s economic agenda. During a roundtable discussion at the Machakos International […]
The International Monetary Fund (IMF) has revised its growth forecast for Saudi Arabia’s economy, predicting a robust expansion of six percent in 2025, up from the previous projection of 5.5 percent made in January 2024. This marks the second consecutive upward adjustment in the IMF’s forecast for Saudi Arabia’s economic growth in 2025. The Kingdom’s […]
Egypt’s financial landscape witnessed a significant shift as the central bank reiterated its dedication to maintaining a flexible exchange rate regime, ensuring a steady flow of foreign currency reserves. This announcement stands as a crucial component of Egypt’s $8 billion loan program with the International Monetary Fund (IMF). The decision to allow the Egyptian pound […]
The International Monetary Fund (IMF) has adjusted Kenya’s GDP growth forecast downwards, citing external pressures as the primary cause. In their April 2024 world economic outlook report, the IMF lowered Kenya’s projected growth rate from 5.5% to 5.0% due to various factors including disruptions in global trade and escalating tensions in key regions. Impact of […]
In a remarkable year marked by an influx of national elections worldwide, the International Monetary Fund (IMF) is advocating for fiscal prudence. With a staggering 88 countries, representing over half of the global population, currently undergoing or having completed national elections in 2024, the IMF’s message resonates with urgency. The IMF’s Fiscal Monitor publication underscores […]
Addressing the pressing issue of energy poverty in Africa, the World Bank has announced an ambitious plan to connect over 250 million Africans to the electricity grid by 2030. This marks a significant increase from its initial target of 100 million, reflecting the severity of the challenge at hand. World Bank President Ajay Banga revealed […]
The Kenya Private Sector Alliance (KEPSA) has partnered with The World Bank to introduce the Carbon Market Guidebook for Kenyan Enterprises in Nairobi. This guidebook offers comprehensive assistance to Kenyan enterprises across various sectors, including agriculture, waste management, forestry, manufacturing, energy, transportation, and hospitality. Dr. John Wandaka, Vice-Chair of KEPSA’s Environment, Water, and Natural Resources […]
In a recent address, IMF Chief Kristalina Georgieva painted a sobering picture of the ongoing repercussions of the COVID-19 pandemic. Despite glimpses of improvement, the global economy remains ensnared in the aftermath, grappling with a substantial $3.3 trillion output loss since 2020. Georgieva’s remarks, delivered at an event hosted by the Atlantic Council, highlighted marginal […]
South Africa – Luno, South Africa’s longest-standing crypto asset service provider, has achieved a significant milestone by obtaining a license from the Financial Services Conduct Authority (FSCA) to function as a financial services provider. This accolade positions Luno as the inaugural dedicated crypto asset service provider in South Africa to receive such recognition, following the […]
Kenya’s economic landscape is brightening as the Kenya shilling achieves a year-high against the U.S. dollar, reaching an impressive rate of 130. This surge, alongside other positive economic indicators, has ignited optimism among the nation’s business leaders, projecting a promising economic performance for 2024. The optimism stems from a convergence of factors: the notable easing […]
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...
