Introduction to a New Era of Financial Innovation In a bold move to modernize Nigeria’s financial ecosystem, the Central Bank of Nigeria (CBN) unveiled two transformative initiatives on January 17, 2025: the Document Flow (DocFlow) System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution. This milestone marks another step in the CBN’s ongoing […]
Kenya’s tea industry recorded a significant milestone in the second weekly auction of 2025, generating KSh 1.6 billion from the sale of 5,119,905 kilograms of tea at the Mombasa Tea Auction. The strong performance highlights the sector’s resilience and the impact of efforts to improve tea quality. The auction, conducted on January 13 and 14, […]
The International Monetary Fund (IMF) has raised its forecast for global economic growth in 2025, attributing much of the upward revision to stronger-than-expected growth in the United States. However, the IMF also warned of the potential adverse impacts of protectionist trade policies and subsidies, emphasizing their potential to disrupt global markets and harm long-term growth. […]
The 36 state governors of Nigeria, operating under the Nigeria Governors’ Forum (NGF), have reaffirmed their support for the legislative process aimed at passing the Tax Reform Bills currently under consideration at the National Assembly. This development was part of a communiqué issued following subnational consultations and a high-level engagement with the Presidential Tax Reform […]
Kenya’s economy is projected to grow by 5.3% in 2025, signaling a rebound from the 4.6% contraction experienced in 2024. This projection is outlined in the 2025 Budget Policy Statement released by the National Treasury in Nairobi. The statement highlights the government’s strategies to stimulate recovery while fostering sustainable growth in key sectors. Economic Performance […]
The World Bank has raised concerns over potential new U.S. trade policies and their adverse effects on global economic growth. In its latest Global Economic Prospects report, the Bank projected global growth would remain stagnant at 2.7% through 2024, 2025, and 2026. The report underscores the fragility of the current economic climate, highlighting the weakest […]
Nigeria recorded the highest inflation rate among Africa’s ten largest economies in December 2024, a stark economic indicator that has raised serious concerns among policymakers, businesses, and households. Data from the International Monetary Fund (IMF) revealed that Nigeria’s inflation rate stood at a staggering 34.80%, a figure that places it well above its peers on […]
The Energy and Petroleum Regulatory Authority (EPRA) of Kenya has announced a significant hike in fuel prices in its most recent review, with costs surpassing KES 200 per litre for the first time. The new prices, which took effect on January 15 and will remain valid until February 14, 2025, are poised to have widespread […]
In a historic agreement, the World Bank has announced a 10-year Country Partnership Framework (CPF) with Pakistan, pledging $20 billion in funding to address critical development challenges and drive sustainable growth in the nation. This ambitious plan, set to roll out from 2026, aims to prioritize climate resilience, clean energy, private sector growth, and key […]
Nigeria’s crude oil production has achieved a significant milestone, recording a year-on-year (YoY) increase of 6.3% to reach 1.507 million barrels per day (bpd) in December 2024, according to data from the Organisation of Petroleum Exporting Countries (OPEC). This marks a notable improvement from 1.418 million bpd recorded in December 2023. On a month-on-month (MoM) […]
A historic moment in East African energy cooperation unfolded this week as Ethiopia commenced its first-ever electricity exports to Tanzania,...
The United States Senate is currently embroiled in a high-stakes, marathon voting session on a sweeping budget bill, colloquially dubbed...
In a landmark moment for Burundi's energy future, President Evariste Ndayishimiye this week inaugurated the Jiji hydroelectric plant, a crucial...
The financial landscape in Kenya has seen a notable development with the Central Bank of Kenya (CBK) announcing the cancellation...
