National Treasury Cabinet Secretary (CS) John Mbadi has acknowledged that high taxes on salaries, particularly the Pay-As-You-Earn (PAYE) levy, are one of the primary reasons many Kenyans feel economically strained despite improvements in economic indicators. Speaking at the launch of the 2024 FinAccess Survey, Mbadi pledged to advocate for reforms to alleviate the tax burden […]
South Korea finds itself grappling with financial turbulence and political uncertainty following an unprecedented martial law declaration by President Yoon Suk Yeol. The announcement, later lifted under parliamentary pressure, sent shockwaves through financial markets, pushing the won to multi-year lows and raising questions about the nation’s stability. The South Korean government and central bank acted […]
Ethiopia is pushing forward with comprehensive financial sector reforms as it seeks $700 million in concessional funding from the World Bank. The loan is a key component of the Financial Sector Strengthening Project (FSSP), aimed at recapitalizing the Commercial Bank of Ethiopia (CBE) and addressing systemic challenges within the banking industry. Under the leadership of […]
German Vice Chancellor and Minister of Economic Affairs, Robert Habeck, has highlighted significant opportunities for German investments in Kenya’s energy sector, particularly in renewable energy. His visit to Kenya, as part of the German African Business Summit (GABS), underscores the growing interest in enhancing economic partnerships between Germany and Africa. Habeck’s remarks, delivered during a […]
In the latest salvo of the intensifying US-China trade war, Beijing has imposed a ban on the export of critical minerals—gallium, germanium, and antimony—to the United States. This move, coming on the heels of new US restrictions on China’s semiconductor industry, underscores the high stakes of the technological and economic rivalry between the two superpowers. […]
As part of its ongoing efforts to deepen economic collaboration with African nations, the Central Bank of Egypt (CBE) has officially joined the Pan-African Payment and Settlement System (PAPSS). This move is poised to transform the way cross-border payments are conducted across the continent, reducing costs and processing times while strengthening Egypt’s economic ties with […]
Prime Cabinet Secretary Musalia Mudavadi recently emphasized the significant role played by the Kenyan diaspora in the United Arab Emirates (UAE), with over 30,000 Kenyans currently living and working there. Speaking during the 53rd National Day celebrations of the UAE held in Nairobi, Mudavadi highlighted the deepening partnership between Kenya and the UAE, noting its […]
The government of French Prime Minister Michel Barnier is on the brink of collapse as political opposition from both the far-right and left unites against his contentious budgetary decisions. With a no-confidence vote looming, France’s political and economic stability is at stake. The Political Deadlock Prime Minister Barnier, appointed in September by President Emmanuel Macron, […]
The shareholders of the East African Crude Oil Pipeline (EACOP) have committed an additional $500 million to the project to address delays in debt financing, ensuring progress in construction. This significant injection has brought the equity contribution to 52%, surpassing the initial plan of 40% equity funding, as the developers grapple with sourcing debt financing […]
In a significant milestone for Kenya’s economic development, the Kenya Private Sector Alliance (KEPSA) has officially signed a landmark Memorandum of Understanding (MoU) with Kenya’s six Regional Economic Blocs. This partnership aims to accelerate inclusive development across counties, driving economic growth, job creation, and private sector investment. The signing took place in Voi, Taita Taveta […]
Kenya, a vibrant East African economic hub, finds itself at a critical juncture, grappling with persistent challenges of corruption, illicit...
The United States labor market delivered a robust performance in June, with job growth surpassing economists' forecasts and the unemployment...
Africa is on the cusp of a profound digital transformation, with its data centre sector emerging as a critical backbone...
The vibrant city of Nairobi is currently hosting a pivotal event poised to redefine Africa's investment landscape: the inaugural NextFrontierAfrica...
