In a significant policy shift aimed at economic stabilization and boosting state revenue, Kenya’s government announced the reintroduction of tax reforms on Friday. This move follows the shelving of an earlier finance bill in June that incited widespread protests and civil unrest across the country. President William Ruto’s administration, which has faced mounting pressure to […]
U.S. job growth witnessed a significant deceleration in October, with nonfarm payrolls rising by just 12,000 jobs, a stark drop from the revised figure of 223,000 in September. The U.S. Department of Labor’s Bureau of Labor Statistics (BLS) released the data on Friday, signaling disruptions in job creation due to hurricanes and ongoing labor strikes. […]
In a strategic move aimed at revitalizing the economy and addressing long-standing dollar shortages, Nigeria’s Finance Minister, Olawale Edun, announced a new programme designed to encourage Nigerians to repatriate assets and invest them within the country. The voluntary disclosure scheme, which will be in effect for nine months, aims to draw foreign currency assets into […]
The International Monetary Fund (IMF) recently approved a substantial loan of $606.1 million for Kenya, marking a critical step in supporting the East African nation’s fiscal health, economic reforms, and resilience against climate-related risks. This latest financing package comes at a time when Kenya is grappling with significant economic challenges, including rising debt, inflationary pressures, […]
As the U.S. presidential election approaches, the Reserve Bank of India (RBI) is poised to manage any potential market volatility and capital outflows, particularly if global markets react strongly to a potential victory by Republican candidate Donald Trump. Two sources familiar with RBI’s strategy have reported that the central bank is prepared to utilize its […]
South Africa’s headline inflation eased to 3.8% in September 2024, marking a 42-month low. For consumers, this dip offers slight relief as inflation continues to fall below the South African Reserve Bank’s (SARB) target midpoint of 4.5%. However, food inflation held steady at 4.1% year-on-year in September, despite monthly pressures driven by rising fruit and […]
The International Monetary Fund (IMF) has approved the seventh and eighth reviews of Kenya’s economic program, enabling the country to access a $606 million loan tranche. This decision is a significant boost for the Kenyan government, which has faced liquidity constraints amidst a challenging socio-economic climate. The East African nation, struggling with high debt servicing […]
The Bank of Japan (BOJ) held its ultra-low interest rates steady during its latest policy meeting on Thursday, underscoring concerns about global economic uncertainties and the fragility of Japan’s domestic recovery. In a climate of high inflation and shifting interest rates globally, the BOJ emphasized the need for caution, particularly regarding the U.S. economy and […]
Kenya’s export volumes to Bavaria, Germany, are expected to reach Sh6.9 billion in 2024, marking an increase of Sh500 million compared to 2023. This surge highlights a strengthening of economic relations between the two regions, with Bavaria set to expand imports from Kenya, predominantly in agricultural products. Bavaria’s decision to raise imports from Kenya was […]
UN Trade and Development (UNCTAD) has released its latest Trade and Development Report, projecting global economic growth to hover at a stagnant rate of 2.7% for both 2024 and 2025. This marks a further dip from the average growth rate of 3% witnessed between 2011 and 2019, and is significantly lower than the 4.4% growth […]
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...
