Kenya’s government will allocate an additional KSh 2.5 billion next week to settle outstanding debts owed to hospitals and service providers by the defunct National Hospital Insurance Fund (NHIF). President William Ruto announced this initiative during a church service at Soweto Catholic Church in Embakasi East, Nairobi. This allocation builds on the KSh 5 billion […]
Germany, Europe’s largest economy and a global industrial powerhouse, is projected to remain the eurozone’s economic underperformer until 2026, according to the European Commission’s Autumn Forecast. The forecast paints a grim picture for Germany, which is expected to face a 0.1% contraction in GDP in 2024, making it the only economy in the eurozone predicted […]
Namibia, a nation historically reliant on diamond mining, stands on the precipice of an economic transformation. With significant offshore oil and gas finds luring global energy giants like TotalEnergies, Shell, Chevron, ExxonMobil, and Galp, Namibia is poised to double its GDP growth to 8% within a decade. According to Tom Alweendo, the country’s mining and […]
Kenya is poised to implement a groundbreaking shift in its tax framework with the introduction of the Tax Procedures (Amendment) (No. 2) Bill, 2024. This draft bill, published by the Kenyan Treasury, is designed to bring remote workers under the purview of the Kenya Revenue Authority (KRA), requiring all employees working for Kenyan employers—even those […]
The International Monetary Fund (IMF) and Saudi Arabia have announced a groundbreaking initiative to jointly host an annual high-level conference aimed at addressing pressing global economic challenges. The inaugural event, titled the AlUla Conference for Emerging Market Economies, will take place in the historic city of AlUla, Saudi Arabia, from February 16 to 17, 2025. […]
The National Bank of Ethiopia (NBE) has announced a significant policy shift that will grant exporters greater flexibility in managing their foreign currency earnings. Starting November 14, 2024, exporters will be permitted to retain 50% of their foreign currency earnings indefinitely while selling the other 50% immediately. This marks a departure from the previous requirement, […]
National Assembly Majority Leader Kimani Ichung’wah has unveiled a sweeping package of legislative reforms that aim to stimulate economic growth and improve the business climate in Kenya. With the economy facing ongoing challenges, including high inflation, a volatile currency, and stiff competition from regional neighbors, the proposed reforms are timely and essential for bolstering Kenya’s […]
Global investors have shifted their economic expectations significantly following Donald Trump’s recent election victory, anticipating both stronger global growth and rising inflation, according to Bank of America’s (BofA) monthly fund manager survey. The survey indicates that investors are positioning their portfolios in response to Trump’s win, with increased allocations to U.S. stocks and small-cap companies […]
South African food producer Premier Group announced on Tuesday, November 12, 2024, that it is open to acquisitions, bolstered by a notable 32.4% increase in interim profit. The company now has R1.1 billion earmarked for strategic acquisitions as it aims to diversify and strengthen its market position. Premier Group, one of South Africa’s oldest and […]
Kenya recently reversed a set of stringent regulations targeting foreign ownership in the maritime transport sector, averting a potential disruption at the Port of Mombasa, one of East Africa’s key trade gateways. The move, announced by Prime Cabinet Secretary Musalia Mudavadi, came after widespread outcry from industry stakeholders, who argued the regulations could discourage foreign […]
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...
