Lesotho’s biggest diamond mine, Letseng, has laid off 240 workers, a fifth of its workforce, as it battles persistently low gem prices due to weak demand and an uncertain global economic environment, parent company Gem Diamonds said on Thursday, highlighting the deepening crisis engulfing the global diamond industry. One decision can change your entire career. […]
The Kenya Bankers Association (KBA) has backed the Central Bank of Kenya’s new risk-based approach to credit pricing, which will provide a new benchmark for interest rates to be charged on commercial bank loans. The endorsement marks a significant shift in Kenya’s financial sector, promising greater transparency, improved monetary policy transmission, and enhanced access to […]
Turkey’s central bank is likely to scale back planned interest rate cuts, beginning with only 200 basis points next week, after inflation in August came in above expectations, driven by surging food and services, JPMorgan said on Wednesday. The revised forecast reflects growing concerns about persistent price pressures and the need to maintain monetary credibility […]
South Africa’s credit participation, muted for years after the pandemic, saw its sharpest expansion in Q2 2025 since Covid-19, as improved economic conditions and cautious lending normalization drove a significant upturn in credit market activity. The developments signal both opportunity and risk in the recovering South African economy, with strong demand for credit accompanied by […]
The Kenya Property Developers Association (KPDA) has signed a groundbreaking strategic partnership with the Kenya National Chamber of Commerce and Industry (KNCCI) to unlock new financing models that address affordable housing challenges and promote sustainable urban development. This landmark collaboration represents a pivotal shift from fragmented advocacy to coordinated private sector participation in Kenya’s ambitious […]
UK government long-term borrowing costs have reached their highest level since 1998, adding unprecedented pressure on Chancellor Rachel Reeves ahead of what promises to be a defining autumn Budget. The interest rate on 30-year government bonds, known as the yield, jumped to 5.72%, making it significantly more expensive for the government to borrow money and […]
Angola’s planned 30,000-barrel-per-day Cabinda oil refinery, the first to be built since independence a half-century ago, will begin producing fuel by year-end, the Southern African country’s oil and gas minister announced on Monday. This groundbreaking project represents a historic milestone as Angola’s second oil refinery and a crucial step toward reducing the nation’s heavy dependence […]
Chinese President Xi Jinping announced ambitious plans to accelerate the creation of a development bank and establish an international energy cooperation platform at the largest-ever summit of the Shanghai Cooperation Organization (SCO) in Tianjin, China. The historic gathering on September 1, 2025, brought together leaders from Russia, India, and eight other nations in what represents […]
Ten counties across Kenya are set to receive Ksh 34 billion from government and development partners under the Integrated Natural Resources Management Programme (INReMP). The groundbreaking initiative, jointly funded by the Government of Kenya in partnership with the International Fund for Agricultural Development (IFAD), the Green Climate Fund (GCF), and the Global Environment Facility (GEF), […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has signed a groundbreaking production sharing contract (PSC) with TotalEnergies and South Atlantic Petroleum (Sapetro) for petroleum prospecting licences (PPL) 2000 and 2001, marking the first major international deepwater award in over a decade. The $1.08 billion deal, featuring a $10 million signature bonus and performance-based incentives, represents […]
Fuel prices have seen a marginal decrease for the period of September 15 to October 14, 2025, according to a...
China's economic slowdown deepened in August with a raft of key indicators missing expectations, as weak domestic demand persisted and...
A new report from the United Nations University Institute for Natural Resources in Africa (UNU-INRA) confronts one of the most...
The Kenya National Chamber of Commerce and Industry (KNCCI) has signed a landmark Memorandum of Understanding (MoU) with the South...
