In response to mounting depreciation pressures on the Chinese currency, the People’s Bank of China (PBOC) is implementing stricter controls over bulk dollar purchases by domestic corporations. Reuters disclosed that companies seeking to acquire $50 million or more in foreign currency will now require approval from the PBOC. Over the weekend, the central bank engaged […]
Kenya has achieved a significant milestone in its trade relationship with China, successfully exporting its first 52-tonne batch of anchovies, commonly referred to as ‘omena,’ to the Chinese market. This achievement follows a bilateral agreement inked between the two nations early last year. China’s Director-General of the Department of African Affairs, Wu Peng, expressed his […]
In a momentous diplomatic move, the African Union (AU) has secured permanent membership in the Group of Twenty (G20) during the G20 leaders’ summit, hosted by Indian Prime Minister Narendra Modi. This landmark decision reflects India’s commitment to fostering inclusivity and amplifying the voices of nations from the Global South. Africa’s presence within the G20 […]
New Delhi, India: The G20 Summit 2023 hosted in New Delhi’s Pragati Maidan concluded with a joint declaration by world leaders, signifying significant progress on global issues. Despite initial doubts about reaching a consensus, the New Delhi Leaders’ Declaration was successfully adopted, reflecting India’s dedication to fostering international cooperation. The following are the Key highlights […]
In a significant development, the Kenyan Ministry of Labour has unveiled a proposal to introduce a mandatory welfare fund for Kenyan citizens employed abroad. Known as the Kenya Migrant Workers Welfare Fund, this initiative is designed to offer essential support to Kenyan migrant workers, including medical assistance, relief support, and survivor benefits for the families […]
MALAWI, AFRICA – In a groundbreaking development, the Geothermal Development Company (GDC) has sealed a transformative partnership with the Electricity Generation Company of Malawi (Egenco) to harness Malawi’s vast geothermal potential. This collaboration marks a pivotal moment for Malawi as it ventures into the untapped world of geothermal energy. GDC, a trailblazer in the geothermal […]
China’s renminbi touched a 16-year low against the US dollar as the nation’s exports faced a fourth consecutive monthly decline in August, underscoring the ongoing challenges confronting the country’s manufacturing sector, the world’s second-largest. Renminbi Weakens on Export Contractions In a noteworthy development, the renminbi slipped by 0.1 percent to reach Rmb7.3259 per US dollar, […]
A proposed legislative amendment in Kenya could usher in a new era of opportunities for local businesses. Kiambaa MP John Njuguna Wanjiku has introduced the Public Procurement and Asset Disposal (Amendment) Bill, 2023, which aims to redefine the rules governing public procurement, favoring Kenyan-owned companies for contracts valued below Sh1 billion. The primary focus of […]
The Africa Climate Summit, a landmark gathering of leaders from across the continent, concluded with a resounding declaration of intent to combat climate change and drive sustainable growth. At least 17 heads of state were individually present, with others sending representatives, as they collectively adopted the historic Nairobi Declaration. The summit, held at the Kenyatta […]
Economists are offering varying perspectives on the U.S. economy’s trajectory, with some anticipating a “soft landing” after two years of elevated inflation, while others are concerned about the potential for a more challenging downturn. Goldman Sachs’ Optimistic View Goldman Sachs, known for its economic insights, has recently revised its forecast, reducing the likelihood of a […]
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...
