In a bid to enhance the financial well-being of its civil service workforce, the Kenyan government has announced a substantial salary increase, effective retroactively from July 1. The decision, unveiled by Lyn Mengich, Chairperson of the Salaries and Remuneration Commission (SRC), is a testament to the government’s commitment to providing fair compensation for its diligent […]
The energy market witnessed a remarkable spectacle today as crude oil prices surged to exhilarating new heights, riding a perfect storm of factors that have sent shockwaves through the industry. The benchmark Brent index surged to levels unseen since January, driven by a sharp drop in US fuel inventories and a carefully choreographed ballet of […]
In a dynamic display of unity and ambition, delegates from 25 coffee-producing countries across Africa have convened in the bustling Ugandan capital, Kampala. Their mission: to galvanize the African Union’s attention and elevate coffee to the forefront of the continent’s agricultural and economic agenda, potentially lifting millions out of poverty. Guided by a shared vision, […]
National Assembly Speaker Moses Wetang’ula has passionately called upon Egypt to lend its influential support to the Africa Continental Free Trade Area (AfCFTA), a visionary agreement poised to reshape the economic landscape of the continent. Speaking from his office alongside Egyptian Ambassador to Kenya Wael Nasreldin Attiya, Wetang’ula highlighted Egypt’s pivotal role as a major […]
In a stunning move that has reverberated throughout the European banking landscape, Italy has unleashed a surprise windfall tax, setting the financial world abuzz. This tax, amounting to a hefty 40% on profits derived from higher interest rates, has sent shockwaves through the banking sector. The Italian government, under the leadership of Prime Minister Giorgia […]
The World Bank, an influential player in global development, has chosen to wield its economic influence to combat discrimination and promote inclusivity. In a landmark decision, the institution has suspended new loans to Uganda, citing its concerns over the country’s controversial anti-LGBTQ law. This move underscores the World Bank’s commitment to upholding its values and […]
In a decisive move aimed at revitalizing Kenya’s dairy industry, President William Ruto has unveiled a bold vision to double the nation’s milk production over the next five years. The announcement, made during a momentous event in Kiganjo, Nyeri County, signals a resolute commitment to elevate local farmers’ livelihoods while propelling Kenya to the forefront […]
China, an economic powerhouse, is grappling with an unforeseen challenge as trade data for July reveals a stark decline in both exports and imports. The ripple effects are echoing through global markets, raising concerns about the broader economic recovery. In a surprising twist, China’s exports nosedived by a staggering 14.5% in July compared to the […]
In a striking economic turnaround, Malawi has witnessed a notable surge in its tobacco sales, a cornerstone of the country’s foreign exchange earnings. The most recent season’s sales catapulted to an impressive $282 million, a remarkable leap from the preceding year’s figure of $182 million, according to authoritative statements from the nation’s industry regulator. This […]
In a significant legal twist, the High Court today has chosen not to suspend specific sections of the Finance Act, opting instead to streamline multiple petitions that challenge the legislation’s constitutionality. The court’s ruling, announced on August 7, has both disappointed and intrigued legal observers, as it signifies a pivotal juncture in the ongoing dispute […]
Kenya has enacted sweeping cybercrime legislation that imposes penalties of up to Sh20 million ($155,000) in fines or ten years...
Amazon Web Services (AWS) experienced a massive cloud infrastructure failure on Monday that cascaded across the globe, disrupting thousands of...
South Africa's luxury retail sector is poised for exceptional growth, with projections indicating a remarkable 15% expansion by 2025, positioning...
In a significant development for East Africa's telecommunications landscape, Atlas Tower has secured substantial backing from STOA, a French infrastructure...
