In a bold move to fortify its foreign exchange reserves and stabilize the depreciating Tanzanian shilling, the country’s mining regulator has mandated that all gold mining firms and traders sell at least 20% of their gold production to the Bank of Tanzania (BoT). The directive, which took effect in October following the enactment of new […]
A new report by the Digital Financial Services Association of Kenya (DFSAK) has revealed that Kenyans are borrowing an estimated Sh15 billion every month, or roughly Sh500 million daily, as the country grapples with deepening financial challenges. The report paints a vivid picture of a nation where digital lending platforms have become a lifeline for […]
In a statement that underscores Indonesia’s proactive monetary policy, Bank Indonesia (BI) has declared its readiness to intervene and stabilise the rupiah, which is flirting with its lowest levels in 27 years. Despite the currency’s recent slide—hitting levels last seen during the Asian Financial Crisis of 1998—domestic market sentiment remains upbeat, bolstered by robust fundamentals […]
In an ambitious bid to steer Africa towards a more prosperous and inclusive future, economic stakeholders from across the continent are set to gather in Kigali, Rwanda, for the “100 Most Notable Africans Leadership and Business Summit 2025.” The three-day event, scheduled for July 4-6 at the Marriott Hotel Kigali, promises to be a dynamic […]
In a bold step to transform its agricultural sector and secure long-term food stability, the Kenyan government has unveiled the National Irrigation Sector Investment Plan (NISIP). Launched on March 21, 2025, at the Kenyatta International Convention Centre (KICC) in Nairobi, the comprehensive 10-year strategy seeks to expand the country’s irrigated area by one million acres […]
In a decisive move aimed at reinforcing the country’s ongoing economic recovery, Sri Lanka’s central bank kept its key overnight policy rate unchanged at 8% for the second consecutive meeting on Wednesday. This decision, aligned with the views of a majority of economists polled by Reuters, comes at a time when the South Asian nation […]
Africa’s digital landscape is undergoing a revolutionary transformation, with the digital payments sector emerging as a key driver of economic growth and financial inclusion. According to a Mastercard-commissioned report by Genesis Analytics, the digital payments economy in Africa is projected to skyrocket and reach an impressive $1.5 trillion by 2030. This forecast not only underscores […]
Kenya Railways is redefining the landscape of regional development through its innovative integration of modern transport solutions and revitalized rail networks. The recent introduction of a stopover for the Madaraka Express Passenger train at Voi station has sparked a notable uptick in economic activity, particularly in the Taita Taveta region. This development is part of […]
The latest data from the euro zone is painting a cautiously optimistic picture for Europe’s economic landscape. According to a preliminary composite Purchasing Managers’ Index (PMI) compiled by S&P Global and reported by Reuters, business activity in the common currency bloc grew at its fastest pace in seven months in March. The composite PMI rose […]
In a landmark move that could redefine its economic trajectory, Ethiopia has reached an agreement with its official creditors to restructure $8.4 billion of public debt. Announced on March 23, 2025, by the Ministry of Finance, the deal represents a critical step in the country’s long-standing efforts to stabilize its economy and restore financial credibility […]
In a pivotal moment for Kenya's economic trajectory, President William Ruto has officially assented to three critical National Assembly Bills:...
In a significant pronouncement that reverberates through the burgeoning digital asset landscape, the Bank for International Settlements (BIS), often referred...
The Coca-Cola Company, a global beverage giant, has unveiled a groundbreaking study highlighting its monumental socio-economic impact across the African...
A transformative era has dawned for chilli farmers in Kenya's coastal region with the official commissioning of a state-of-the-art Sh250...
