The euro zone witnessed a marginal improvement in its business activity in December, signaling a potential slowdown in the economic decline that has persisted throughout 2024. According to the HCOB Preliminary Composite Purchasing Managers’ Index (PMI), compiled by S&P Global, the index rose to 49.5 in December from November’s 48.3, nearing the critical 50-point threshold […]
The International Monetary Fund (IMF) has approved $204.5 million in additional funding for Tanzania following a successful review of the country’s economic reform program. This milestone underlines Tanzania’s progress in implementing reforms aimed at bolstering economic stability and inclusive growth while addressing emerging challenges such as climate change and fiscal sustainability. The funding, approved on […]
The Kenya Electricity Transmission Company (KETRACO) has achieved a significant milestone with the completion and energisation of the 400kV Kenya-Tanzania transmission line. This interconnector spans 510 kilometers, linking Kenya’s Isinya substation to Tanzania’s Singida substation, thereby integrating the power grids of both nations. The development marks a major step forward for regional energy cooperation and […]
Japan’s economic landscape continues to reflect contrasting fortunes between its manufacturing and services sectors, with December marking the sixth consecutive month of factory contraction, according to the au Jibun Bank Flash Purchasing Managers’ Index (PMI). While manufacturing shrank further, the services sector showed resilience, pointing to an economy increasingly dependent on service-driven growth. Manufacturing PMI […]
The formal non-agricultural sectors of South Africa’s economy contracted significantly in the third quarter of 2024, with around 130,000 jobs lost, marking a 1.2% decrease compared to the previous quarter. The latest Quarterly Employment Survey (QES) highlights a troubling trend of job losses across multiple industries, raising concerns about the country’s broader economic stability and […]
President William Ruto has announced that the Hustler Fund, a flagship initiative of his administration, has successfully lent Kenyans Ksh60 billion over the past two years. Speaking during the 2024 Jamhuri Day celebrations at Uhuru Gardens in Nairobi, Ruto lauded the program as a transformative force for millions of Kenyans, providing financial empowerment and steering […]
The European Central Bank (ECB) is poised to continue its monetary easing trajectory into 2025 as the eurozone grapples with persistent economic headwinds. Francois Villeroy de Galhau, Governor of the Banque de France and an influential ECB policymaker, has reaffirmed this stance, suggesting that the ECB remains aligned with market expectations for further interest rate […]
In a groundbreaking achievement for Africa’s energy sector, Dangote Refinery and Cameroon-based Neptune Oil have jointly announced the first export of Premium Motor Spirit (PMS) from the world-class Dangote Refinery to Cameroon. This landmark transaction signals a new era of intra-African energy collaboration, showcasing the potential of African resources to drive economic growth and regional […]
South Korea’s travel and tourism industry, a key driver of its economy generating $59.1 billion in 2023 (approximately 3.8% of its GDP), now finds itself at a crossroads. The sector has weathered several past challenges, including North Korean tensions and a presidential impeachment in 2016, but the recent political crisis, marked by a brief episode […]
In a move aimed at easing the cost of doing business and addressing stakeholder concerns, the Kenya Plant Health Inspectorate Service (Kephis) has suspended the implementation of new levies on imports and exports until March 2025. The suspension comes after significant backlash from traders who argued that the additional costs would harm their operations and […]
Aquaculture, the fastest-growing segment of the global food system, now produces more than half of the world's fish. In Kenya,...
The Gulf Cooperation Council (GCC) has experienced significant growth in its debt capital markets, with a year-on-year increase of 11%...
The Nigeria Labour Congress (NLC) has strongly criticized the National Assembly over its exclusion of workers and trade unions in...
HF Group Plc, a leading financial solutions provider in Kenya, has achieved a remarkable milestone with the successful completion of...