The International Monetary Fund’s (IMF) Executive Board convened to discuss the first review of Malawi’s 12-month Staff-Monitored Program (PMB) with Executive Board involvement. The program, greenlit by the IMF Management on July 13, 2023, has been under close scrutiny due to the country’s resilience in the face of multiple challenges. Malawi has confronted a series […]
As African leaders converge in St. Petersburg for the second Russia-Africa Summit. With 49 African delegations and 17 heads of state in attendance, the two-day summit and economic forum offer a unique opportunity to explore key areas of cooperation between Russia and Africa. Top on the summit’s agenda are discussions surrounding food security and the […]
China’s top diplomat, Wang Yi, arrived in Kenya on Saturday for a significant visit, during which he lauded the economic partnership between China and Kenya as a win-win. The Chinese embassy in Kenya issued a statement highlighting the close friendship and mutual trust between the two nations in both political and economic realms. Kenya, with […]
Kenya is on the brink of a revolutionary change in carbon trading as the National Assembly’s Budget and Appropriations Committee (BAC) has given its resounding approval to the Carbon Credit and Benefit Sharing Bill, 2023. Spearheaded by Laisamis MP Joseph Lekuton, this groundbreaking legislation aims to establish a legal framework for carbon markets, ensuring fair […]
In an interdenominational service held at Mwatunge grounds in Taita Taveta county, President William Ruto made a bold declaration, stating that Kenya’s economy has been successfully stabilized, and the nation will no longer be threatened by debts. Having faced the daunting task of steering the economy back on track for the past eight months, President […]
In a bold move to combat surging inflation, the Federal Reserve has decided to resume its rate-rising campaign, lifting its benchmark interest rate by a quarter-point to a range of 5.25-5.5 per cent. This marks the 11th hike in the central bank’s anti-inflation crusade that commenced in March 2022, taking borrowing costs to the highest […]
Oil prices surged nearly 2% on Friday, marking a fourth consecutive weekly gain as mounting evidence of supply shortages and escalating tensions between Russia and Ukraine intensified concerns in the global oil market. According to Reuters, Brent crude futures climbed $1.43, equivalent to 1.8%, settling at an impressive $81.07 per barrel, with a weekly gain […]
In the midst of a severe food crisis across Africa, the exorbitant cost of imported fertilizers is adding fuel to the fire, exacerbating food insecurity and hampering agricultural production. Recent data from the African Market Observatory reveals that global fertilizer suppliers have enjoyed record-breaking profits, with the top nine producers tripling their earnings in 2022 […]
Ghana’s economy is facing one of its most severe crises in years, grappling with double-digit inflation, a weak currency, and mounting public debt. In response to the escalating inflationary pressures, the country’s central bank has taken bold action by raising its benchmark lending rate by an unexpected 50 basis points, bringing it to a staggering […]
The BRICS group of nations, comprising Brazil, Russia, India, China, and South Africa, is set to witness a significant expansion as more than 40 countries have expressed their keen interest in becoming part of this influential alliance. South Africa, the current chair of BRICS and a key mediator, revealed that while 22 countries had formally […]
In a significant boost for Kenya's vibrant but often underserved business landscape, Family Bank has announced it has secured a...
The United States central bank, the Federal Reserve, announced on Wednesday that it would hold its benchmark interest rate steady,...
The International Air Transport Association (IATA), the global trade association for the world’s airlines, has issued a powerful call to...
The East African Community (EAC) is once again grappling with escalating trade tensions, as Kenya formally objects to new business...
