Niger, one of the world’s poorest nations, has been compelled to make substantial budget cuts following international sanctions imposed in the aftermath of a military coup that occurred in July. In a televised statement, the junta-led government announced that the initial budget of 3.29 trillion CFA francs ($5.3 billion) for 2023 has been significantly reduced […]
The Kenyan government has embarked on a strategic plan to reduce recurrent spending by Ministries, Departments, and Agencies (MDAs), with the aim of saving an estimated Sh130.2 billion. This move, approved by the Cabinet on Tuesday, underscores the government’s commitment to fiscal responsibility. In a press statement, the Cabinet explained that the decision to streamline […]
In a webinar held on Thursday, South Africa’s central bank Governor Lesetja Kganyago delivered a clear message – the South African Reserve Bank (SARB) will not intervene to bolster the ailing rand. Kganyago asserted that the rand’s recent decline is part of a broader global currency realignment, and defending it would be an exercise in […]
The World Trade Organization (WTO) has revised its outlook for global goods trade in 2023, citing multiple global factors that have tempered expectations for a robust recovery. The organization, headquartered in Geneva, Switzerland, highlighted that persistent inflation, higher interest rates, a turbulent Chinese property market, and the ongoing Ukraine conflict have cast a shadow over […]
The Central Bank of Kenya’s Monetary Policy Committee (MPC) decided to maintain the benchmark lending rate at 10.5% during its latest meeting, reaffirming its commitment to managing inflation within the targeted range. This decision comes after a previous rate increase of 100 basis points in June, which was implemented to counter inflationary pressures. The MPC’s […]
In an unexpected turn of events, the United States job market witnessed a significant surge in August, marking its most substantial increase in two years. This surge in job openings, particularly within the professional and business services sector, has ignited discussions about the Federal Reserve’s potential decision to raise interest rates next month. The Labor […]
Ethiopia and the European Union have unveiled a significant cooperation agreement valued at 650 million euros ($680 million). This historic accord signifies a vital step in restoring diplomatic relations and supporting Ethiopia’s recovery from a destructive conflict. The announcement was made during a press conference held in the capital city, Addis Ababa, with Ethiopian Finance […]
Amidst the soaring cost of living in Kenya, low-income households find themselves grappling with the harsh realities of high inflation. A recently released report by the Kenya Institute for Public Policy Research and Analysis (KIPPRA) sheds light on the hardships endured by the nation’s less privileged citizens throughout 2022. Director of KIPPRA, Rose Ngugi, emphasized […]
In a remarkable display of bipartisan cooperation, the U.S. Congress successfully averted a potential government shutdown late on Saturday by passing a stopgap funding bill. The legislation received overwhelming support from both Democrats and Republicans after a significant shift in strategy. Initially, the Republican House Speaker Kevin McCarthy had faced pressure from hardline members of […]
Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), recently addressed the 78th United Nations General Assembly with a compelling proposal. He called for the rechanneling of $25 billion in Special Drawing Rights (SDRs) from the International Monetary Fund (IMF) to support Africa’s development aspirations. This move, if realized, could potentially mobilize an additional […]
Kenya's agriculture sector — the engine that directly powers 22.5% of the nation's GDP, employs more than 40% of its...
When Sanae Takaichi secured Japan's largest Lower House election victory since World War Two on February 8, 2026, financial markets...
On the morning of February 18, 2026, the Nigerian Exchange Limited quietly rewrote the rules of its own market. For...
The clock is ticking louder than the government had hoped. Kenya Pipeline Company's landmark Initial Public Offering — billed as...
