The Central Bank of Kenya (CBK) has introduced a significant change in foreign exchange transactions by requiring Money Remittance Providers (MRPs) to sell any daily foreign exchange currency exceeding $100,000 (equivalent to Sh14.7 million) exclusively to commercial banks. This move is aimed at fostering a “fair and orderly” market, as announced by the CBK. MRPs, […]
The Federal Reserve, in an unexpected turn of events, has announced significant losses exceeding $100 billion, as disclosed in central bank data released on Thursday. This alarming financial situation has raised concerns about the possibility of further losses in the foreseeable future. The central bank of the United States finds itself in an unsettling financial […]
France is taking proactive measures to combat inflation, with Prime Minister Elisabeth Borne revealing plans to temporarily suspend a longstanding ban on retailers selling road fuel below cost. This decision comes as the country grapples with a summer surge in pump prices, posing challenges to the government’s efforts to control consumer inflation. TotalEnergies, a prominent […]
Nigeria and Cuba have formalized a strategic partnership aimed at enhancing food security and advancing agriculture. The Memorandum of Understanding (MoU) was signed during a significant ceremony at the Cuban Ministry of Agriculture, coinciding with the G77+ China Leaders’ Summit. Distinguished officials from both nations bore witness to this momentous occasion. Representing Nigeria, Senator Abubakar […]
Moody’s, the prominent credit rating agency, has made a significant adjustment to Ethiopia’s foreign currency rating, lowering it by one notch from ‘Caa2’ to ‘Caa3.’ This decision reflects growing concerns about the country’s ability to meet its foreign currency-denominated private sector debt obligations, brought about by a combination of persistent challenges. Foremost among these challenges […]
Kenya Power has announced its decision to maintain the Sh15,000 connection fee for households situated near transformers. This initiative falls under the third phase of Kenya Power’s subsidized program, aiming to ensure affordable electricity access for more homes across the nation. Starting in September next year, this phase aims to connect approximately 150,000 new homes […]
Global debt has reached a remarkable $307 trillion during the second quarter, marking a significant $47 trillion increase from its pre-pandemic levels. This surge in debt is primarily attributed to the ongoing adjustment to rapid monetary policy tightening by central banks, a phenomenon outlined in a report by the Institute of International Finance (IIF). Despite […]
Ghana has once again secured its position as Africa’s foremost borrower from the International Monetary Fund (IMF), according to data revealed in the IMF’s Quarterly Finances report for July-end 2023. Ghana’s debt to the IMF has surged by a significant 35.55% during the period under review, underscoring the nation’s growing financial reliance on the IMF. […]
In an announcement that will significantly impact Kenyan households, the Energy & Petroleum Regulatory Authority (EPRA) has unveiled new maximum retail prices for petroleum products. Effective from September 15, 2023, to October 14, 2023, these adjustments come as a response to global market dynamics and increased import costs. The revised fuel prices for Nairobi are […]
Argentina is facing an unprecedented economic challenge as its annual inflation rate skyrocketed to a staggering 124.4% in August, marking its highest level since 1991. This inflation surge is exacerbating an already critical cost-of-living crisis, with profound implications for the country’s economy and its people. In August alone, the inflation rate reached 12.4%, a figure […]
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...
