South Africa’s annual consumer price inflation (CPI) eased to 2.8% in October 2024, surpassing market expectations of 3.0% and marking a significant decline from the 3.8% recorded in September. The latest figure is the lowest since June 2020, when inflation was 2.2% during the COVID-19 pandemic. This milestone offers relief to South African households and […]
Kenya Power has unveiled an ambitious Sustainability Strategy, marking a significant step in aligning its operations with sustainable business practices to combat climate change and enhance resilience. The launch highlights the company’s commitment to environmental stewardship, responsible resource utilization, and socio-economic well-being. Overview of the Sustainability Strategy The Sustainability Strategy aims to embed sustainability into […]
Inflation in the United Kingdom surged to a six-month high in October, climbing to 2.3%, up from 1.7% in September, driven largely by increased domestic energy bills and persistent inflation in the services sector. The rise pushes inflation back above the Bank of England’s target rate of 2%, complicating efforts to ease borrowing costs amid […]
The International Monetary Fund (IMF) announced on Wednesday that its mission had concluded a visit to Egypt, making substantial progress on policy discussions for the fourth review of its ongoing loan programme. The review is a critical milestone for Egypt, as it could unlock over $1.2 billion in financing, providing much-needed support amid persistent economic […]
The Central Bank of Kenya (CBK) has announced the release of updated Kenyan currency banknotes, incorporating changes that reflect the institution’s commitment to enhancing security and ensuring compliance with constitutional mandates. The updated denominations—Sh50, Sh100, Sh200, and Sh500—mark a significant step in the evolution of Kenya’s currency system. Key Updates in the New Banknotes The […]
Global investment banks Goldman Sachs and Morgan Stanley have lowered their market outlooks for Hong Kong and China, citing economic headwinds, geopolitical tensions, and reduced corporate earnings prospects. These downgrades highlight growing skepticism over the region’s economic recovery efforts and raise questions about the potential impact on global investors. Hong Kong Under Pressure Goldman Sachs […]
Nigeria and India have taken a significant step toward strengthening bilateral ties with the signing of a Customs Mutual Administrative Agreement (CMAA). The agreement, which reflects growing economic and diplomatic relations between the two nations, aims to facilitate trade, enhance customs enforcement, and promote economic development. A Landmark Partnership The signing ceremony, held at the […]
In a move set to impact borrowers across Kenya, Equity Bank has announced a reduction in interest rates for all Kenya Shilling-denominated loans. This follows the Central Bank of Kenya’s (CBK) decision to lower the Central Bank Rate (CBR) from 12.75% to 12.0%. The interest rate adjustment, effective immediately, underscores Equity Bank’s commitment to aligning […]
The Bank of Japan (BOJ) is set to unveil the findings of a comprehensive policy review on December 19, marking a critical step towards ending its prolonged era of ultra-loose monetary policy. The report, anticipated to justify the central bank’s gradual pivot to policy normalization, will reflect on the pros and cons of unconventional monetary […]
The International Monetary Fund (IMF) has entered a significant financing agreement with the Democratic Republic of Congo (DRC) worth $2.87 billion over three years. The deal includes $1.77 billion from the IMF’s Extended Credit Facility (ECF) and $1.1 billion from its climate-focused Resilience and Sustainability Facility (RSF), marking the first time the latter has been […]
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...
