In a groundbreaking ruling, the High Court of Kenya has declared that the failure of the national and county governments to allocate at least 30% of their budgets to development expenditures is unconstitutional and unlawful. This decision follows a petition filed by the Kenya Human Rights Commission (KHRC) in 2024, challenging the government’s recurrent spending […]
In a significant policy shift that has sent shockwaves across global markets, President Donald Trump has announced plans to impose new tariffs on aluminum imports. The proposed measures, which include a 25% tariff on imports from Mexico and most Canadian goods, along with a 10% tariff on Chinese goods, are set to take effect on […]
In a historic development, Nigeria and Bahrain have officially signed a landmark trade and diplomatic agreement aimed at strengthening bilateral ties, fostering economic cooperation, and facilitating investments between the two nations. This agreement represents a crucial step in deepening economic collaboration and opening new opportunities for businesses and investors in both countries. The signing took […]
The Kenya Revenue Authority (KRA) has released draft amendments to tax procedures governing the importation, assembly, and manufacture of motor vehicles, motorcycles, and trailers. The amendments, open for public review and feedback until February 21, 2025, seek to bolster Kenya’s industrial sector, promote electric vehicle (EV) adoption, and reduce reliance on imported automotive components. This […]
The Bank for International Settlements (BIS), the global umbrella organization for central banks, has issued a stark warning about the risks posed by U.S. President Donald Trump’s economic policies. In a speech delivered in Mexico City, BIS General Manager Agustin Carstens outlined the growing concerns surrounding trade tensions, deregulation, and loose fiscal policies, all of […]
The African Union (AU) is set to take a historic step in reshaping the global financial landscape with the establishment of the Africa Credit Rating Agency (AfCRA). The agency, which will be officially launched next week during the 37th AU Ordinary Summit, aims to counteract biases in existing global credit rating systems and provide fairer, […]
As Kenya’s Sh301 billion International Monetary Fund (IMF) programme nears expiration in April, the Kenya Kwanza government is actively exploring options for a successor arrangement to secure continued economic support. The administration, facing rising debt obligations, a struggling economy, and dwindling local revenues, sees a new IMF deal as critical to ensuring financial stability. The […]
In a significant monetary policy shift, the Reserve Bank of India (RBI) has cut its key repo rate for the first time in nearly five years, aiming to stimulate economic growth amid slowing expansion and a moderating inflationary environment. The Monetary Policy Committee (MPC), which consists of three RBI officials and three external members, decided […]
The Reserve Bank of Zimbabwe (RBZ) has opted to maintain its key interest rate at 35%, signaling a commitment to a tight monetary policy even as the country’s newly introduced currency, the Zimbabwe Gold (ZiG), continues to depreciate. The decision reflects the central bank’s strategy to curb inflation, stabilize the currency, and restore confidence in […]
Kenya’s Central Bank of Kenya (CBK) has lowered its benchmark interest rate by 50 basis points, reducing it to 10.75% from 11.25%, in a bid to stimulate economic growth amid slowing expansion. The decision, announced by CBK Governor Kamau Thugge in an official statement on Wednesday, marks the lowest interest rate in nearly two years. […]
In a significant move set to accelerate sustainable economic development and infrastructure growth across the African continent, the African Development...
In a significant strategic development for both Kenya and the broader African continent, the European Bank for Reconstruction and Development...
In a significant diplomatic and trade breakthrough, China on Friday officially signaled its approval for the export of critical rare...
In a comprehensive assessment of Nigeria's economic trajectory, the African Development Bank (AfDB) has released its 2025 Nigeria Country Focus...
