The European Central Bank (ECB) announced its third interest rate cut of the year on Thursday, reflecting the ongoing slowdown in economic growth, signs of softening in the labor market, and easing consumer price pressures. In a move widely anticipated by analysts, the ECB reduced its deposit rate by 25 basis points to 3.25%, according […]
In its pursuit of an integrated, prosperous, and peaceful Africa, the African Union’s Agenda 2063 outlines a vision driven by African citizens and emphasizes inclusive and sustainable development. For Africa to meet these development goals, the African Development Bank (AfDB) stresses that the continent must achieve sustained economic growth of at least 7% annually. However, […]
Kenya is currently in advanced discussions with the United Arab Emirates (UAE) to secure a $1.5 billion commercial loan, with an interest rate of 8.25% and a repayment period of seven years. This loan, according to Finance Minister John Mbadi, offers more favorable terms compared to previous financing methods, such as Eurobonds. The move comes […]
Investors in British government bonds (gilts) are on edge ahead of the new Labour government’s first budget announcement on October 30. Finance Minister Rachel Reeves is set to reveal her fiscal agenda, the first of its kind in 14 years under a Labour administration. While many anticipate a significant rise in debt issuance, bond markets […]
The Nigerian Economic Summit Group (NESG) recently concluded its landmark 30th annual summit, bringing together business leaders, policymakers, and stakeholders from across Africa and beyond to discuss Nigeria’s economic challenges and opportunities. With the theme “Collaboration for Action,” the event emphasized a unified effort to address the pressing economic issues facing the country and the […]
Kenya and Ghana are committed to strengthening bilateral trade ties as the volume of goods exchanged between the two countries continues to grow. This development comes as both nations seek to deepen economic cooperation and foster stronger intra-African trade relations. Kenya’s primary exports to Ghana include vegetable fibers, tea, and aluminum, while Ghana exports coconut […]
On Tuesday, October 16, 2024, the World Bank took a significant step in enhancing its capacity to assist developing countries. By altering its internal lending rules, the bank is now set to unlock an additional $30 billion in lending capacity over the next decade. This change, led by World Bank President Ajay Banga, is part […]
Impact of Electricity Tariff Hike on Nigerian Manufacturers The recent 250% increase in electricity tariffs imposed on manufacturers in Nigeria is having a crippling effect on the country’s industrial sector. The Manufacturers Association of Nigeria (MAN) has raised alarm over the rising energy costs, particularly for its members in Band A, who are now faced […]
Kenya’s Environment Cabinet Secretary, Aden Duale, has announced an important partnership between Kenya and the Czech Republic aimed at tackling the challenges of climate change. This development follows a meeting on Monday, 14 October 2024, where CS Duale hosted Nicol Adamcová, the Czech Republic’s Ambassador to Kenya. The discussions underscored cooperation in various areas, including […]
A World Bank report released on October 14, 2024, reveals alarming financial conditions in the world’s 26 poorest countries, marking the worst state since 2006. These nations, home to 40% of the most poverty-stricken populations, are burdened by rising debt levels, institutional fragility, and escalating vulnerability to natural disasters. The report, which comes just days […]
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...
