The Kenyan government has formalized a landmark bilateral agreement with Belgium designed to eliminate double taxation and prevent tax evasion for individuals and businesses operating between the two countries. The historic deal was signed on Tuesday, September 30, at the National Treasury offices in Nairobi, marking a pivotal moment in Kenya-Belgium economic relations. The agreement […]
The United States federal government officially entered a complete shutdown at 12:01 a.m. Eastern Time on Wednesday, October 1, 2025, after congressional leaders from both major political parties and President Donald Trump failed to reach agreement on even a short-term funding measure to keep federal operations running past the end of the fiscal year. The […]
South Africa’s formal sector experienced a significant contraction in the second quarter of 2025, shedding 80,000 jobs and pushing total employment down by 0.8 percent from the previous quarter. Statistics South Africa reported on Tuesday that total employment fell from 10.59 million in March to 10.51 million in June, marking another troubling chapter in the […]
Key Highlights: Kenya’s savings and credit cooperative societies have implemented their first reduction in dividend rates in three years, cutting the average rate of dividends on share capital to 10.46 percent for the year ending December 2024. This marks a strategic shift as saccos prioritize building stronger capital reserves over maximizing immediate returns to their […]
Britain’s economy delivered a resilient 0.3% growth in the second quarter of 2025, maintaining its position as the Group of Seven’s fastest-growing economy in the first half of the year, according to data released Tuesday by the Office for National Statistics (ONS). However, beneath this positive headline lurks a concerning development: the current account deficit […]
Nigeria’s oil and gas sector faces unprecedented disruption as a nationwide strike launched by petroleum workers has forced the closure of critical government offices, including the national oil regulator and state oil company facilities. The industrial action, which began on Monday, was triggered after the Dangote Oil Refinery dismissed more than 800 workers who were […]
In a bold regulatory move that could fundamentally reshape Kenya’s digital financial landscape, the Central Bank of Kenya (CBK) has proposed cutting mobile money transaction fees by approximately half, targeting a reduction in average person-to-person transfer costs from KSh 23 to just KSh 10. The proposal, embedded within the Kenya National Financial Inclusion Strategy 2025-2028, […]
Global financial markets opened the week on a cautiously optimistic note, with equity indices across major economies registering gains and the U.S. dollar retreating, even as political uncertainty in Washington threatens to disrupt the world’s largest economy. American lawmakers find themselves in a familiar but increasingly precarious position—racing against time to secure a funding agreement […]
The Zambian government has announced an ambitious fiscal consolidation strategy targeting a dramatic reduction in its budget deficit as part of a newly approved medium-term economic framework covering 2026–2028. The comprehensive plan, recently endorsed by Cabinet and presented by Finance Minister Situmbeko Musokotwane, aims to strengthen fiscal discipline, restore macroeconomic stability, and rebuild investor confidence […]
Kenya has unveiled the most ambitious digital taxation framework in Africa, introducing sweeping regulations that will fundamentally reshape how global technology giants including OpenAI’s ChatGPT, Netflix, Google, Amazon, and Uber are taxed for services consumed by Kenyan users. The Kenya Revenue Authority’s (KRA) new Income Tax (Significant Economic Presence Tax) Regulations, 2025, published this week, […]
Kenya has enacted sweeping cybercrime legislation that imposes penalties of up to Sh20 million ($155,000) in fines or ten years...
Amazon Web Services (AWS) experienced a massive cloud infrastructure failure on Monday that cascaded across the globe, disrupting thousands of...
South Africa's luxury retail sector is poised for exceptional growth, with projections indicating a remarkable 15% expansion by 2025, positioning...
In a significant development for East Africa's telecommunications landscape, Atlas Tower has secured substantial backing from STOA, a French infrastructure...
