The global economy is confronting an unprecedented debt crisis as total worldwide debt has surged to a record-breaking $337.7 trillion at the end of the second quarter, according to a bombshell report released Thursday by the Institute of International Finance (IIF). This staggering increase of over $21 trillion in just six months represents a debt […]
Zimbabwe has taken a decisive step toward transforming its economic trajectory with the successful deployment of a revolutionary Tax and Revenue Management System (TaRMS), marking the culmination of a comprehensive digital transformation initiative that could serve as a blueprint for addressing Africa’s massive revenue mobilization challenges. The African Development Bank-funded project, officially launched on August […]
Kenya marked a historic milestone in its tea industry by launching its first orthodox tea auction in Mombasa, signaling a strategic shift toward premium specialty markets as the country seeks to maximize revenue from its position as the world’s largest tea exporter. The inaugural auction successfully traded 2,925 packages equivalent to 91,798 kilograms of orthodox […]
China announced groundbreaking climate commitments on Wednesday, pledging to cut greenhouse gas emissions by 7-10% from peak levels by 2035, marking the first time the world’s largest emitter has committed to absolute emission reductions rather than merely limiting growth. The announcement came during a UN climate summit that highlighted the stark divergence in global climate […]
Nigeria’s money markets experienced significant repricing on Wednesday as overnight lending rates fell 100 basis points to 25.5% following the Central Bank of Nigeria’s historic decision to cut its benchmark rate for the first time since 2020. The rate adjustment, coupled with a surge in banking system liquidity to 3 trillion naira ($2.02 billion), marks […]
Kenya and the Czech Republic have signed a transformative Agreement on the Elimination of Double Taxation, marking a pivotal moment in bilateral economic relations between the two nations. The landmark accord, formalized at the National Treasury Building by Cabinet Secretary John Mbadi and Czech Ambassador Nicol Adamcová, represents Kenya’s 16th such agreement and signals both […]
Russia’s finance ministry announced Wednesday its proposal to raise the value-added tax rate to 22% from 20% beginning in 2026, marking a desperate attempt to finance military expenditures as the war in Ukraine enters its fourth year. The tax increase represents the most significant fiscal adjustment since the conflict began, exposing the mounting financial pressure […]
The Central Bank of Nigeria (CBN) has made a decisive turn in its monetary stance by trimming its Monetary Policy Rate (MPR) by 50 basis points, lowering it from 27.5% to 27%. The move, announced after the 302nd Monetary Policy Committee (MPC) meeting on September 22–23, 2025, marks the first policy rate cut in five […]
In a significant move to support Kenya’s most vulnerable populations, the government has disbursed KSh 422,458,200 in cash transfers to 132,779 households across eight drought-prone counties under the Hunger Safety Net Programme (HSNP). This latest distribution, announced on September 22, 2025, represents a crucial lifeline for families struggling with the devastating effects of climate-related shocks […]
France’s economy is experiencing its most severe contraction in five months, with both manufacturing and services sectors declining sharply in September 2025, according to the latest S&P Global Purchasing Managers’ Index (PMI) data released on Tuesday. The deterioration marks a sobering end to what had appeared to be tentative stabilization over the summer months, raising […]
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...
