The International Monetary Fund (IMF) has raised its forecast for global economic growth in 2025, attributing much of the upward revision to stronger-than-expected growth in the United States. However, the IMF also warned of the potential adverse impacts of protectionist trade policies and subsidies, emphasizing their potential to disrupt global markets and harm long-term growth. […]
The 36 state governors of Nigeria, operating under the Nigeria Governors’ Forum (NGF), have reaffirmed their support for the legislative process aimed at passing the Tax Reform Bills currently under consideration at the National Assembly. This development was part of a communiqué issued following subnational consultations and a high-level engagement with the Presidential Tax Reform […]
Kenya’s economy is projected to grow by 5.3% in 2025, signaling a rebound from the 4.6% contraction experienced in 2024. This projection is outlined in the 2025 Budget Policy Statement released by the National Treasury in Nairobi. The statement highlights the government’s strategies to stimulate recovery while fostering sustainable growth in key sectors. Economic Performance […]
The World Bank has raised concerns over potential new U.S. trade policies and their adverse effects on global economic growth. In its latest Global Economic Prospects report, the Bank projected global growth would remain stagnant at 2.7% through 2024, 2025, and 2026. The report underscores the fragility of the current economic climate, highlighting the weakest […]
Nigeria recorded the highest inflation rate among Africa’s ten largest economies in December 2024, a stark economic indicator that has raised serious concerns among policymakers, businesses, and households. Data from the International Monetary Fund (IMF) revealed that Nigeria’s inflation rate stood at a staggering 34.80%, a figure that places it well above its peers on […]
The Energy and Petroleum Regulatory Authority (EPRA) of Kenya has announced a significant hike in fuel prices in its most recent review, with costs surpassing KES 200 per litre for the first time. The new prices, which took effect on January 15 and will remain valid until February 14, 2025, are poised to have widespread […]
In a historic agreement, the World Bank has announced a 10-year Country Partnership Framework (CPF) with Pakistan, pledging $20 billion in funding to address critical development challenges and drive sustainable growth in the nation. This ambitious plan, set to roll out from 2026, aims to prioritize climate resilience, clean energy, private sector growth, and key […]
Nigeria’s crude oil production has achieved a significant milestone, recording a year-on-year (YoY) increase of 6.3% to reach 1.507 million barrels per day (bpd) in December 2024, according to data from the Organisation of Petroleum Exporting Countries (OPEC). This marks a notable improvement from 1.418 million bpd recorded in December 2023. On a month-on-month (MoM) […]
Historic Agreement Signed in Abu Dhabi In a significant milestone for Middle Eastern and African economic relations, the UAE and Kenya signed a Comprehensive Economic Partnership Agreement (CEPA) in Abu Dhabi on January 15, 2025. The signing ceremony, held at Qasr Al Bahr, was attended by UAE President His Highness Sheikh Mohamed bin Zayed Al […]
Overview of Inflation Data The United Kingdom’s inflation rate dropped to 2.5% in December, marking an unexpected cooling in consumer prices, according to data released by the Office for National Statistics (ONS). This decrease comes as a relief to policymakers and households grappling with the high cost of living. Economists had expected the consumer price […]
Kenya’s Central Bank of Kenya (CBK) has lowered its benchmark interest rate by 50 basis points, reducing it to 10.75%...
U.S. President Donald Trump has once again escalated his trade war rhetoric, this time setting his sights on the European...
The World Bank has revised its economic growth forecast for South Africa, increasing its 2025 GDP projection from 1.6% to...
The Central Bank of Kenya (CBK) has rejected a new bond trading platform proposed by commercial banks, known as the...