Serrari Group

Nigeria: Banks Borrow $585 Million from CBN Through Standing Lending Facility

Nigeria’s banking sector has increasingly relied on the Central Bank of Nigeria (CBN) for liquidity support, with banks borrowing $585 million (N930.7 billion) through the CBN’s Standing Lending Facility (SLF) as of October 11, 2024. This borrowing surge reflects growing liquidity pressures faced by financial institutions, as they struggle to meet customer withdrawal demands and […]

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2024 Inua Biashara MSME Exhibition in Nairobi, Set To Empower Small Businesses for Sustainable Economic Growth in Kenya

The Micro, Small, and Medium-sized Enterprises (MSMEs) sector is a cornerstone of Kenya’s economy, providing employment, fostering innovation, and driving economic growth. Recognizing the significance of this sector, the 2024 Inua Biashara MSME Exhibition will be held in Nairobi this week, marking a major event for small business owners, financial institutions, and policymakers. Hosted by […]

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IMF Lowers Annual Borrowing Costs for Members by 36%

The International Monetary Fund (IMF) has announced a significant reduction in borrowing costs for its member countries, a move that is expected to cut borrowing expenses by approximately US$1.2 billion annually. This decision marks one of the most substantial changes to the IMF’s lending policies in recent years, aimed at easing the financial burdens of […]

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South African Tax Service Reports $1.2 Billion Payout in Six Weeks Since Pension Reform

In a significant shift for South Africa’s financial and retirement landscape, the South African Revenue Service (SARS) announced that it has paid out 21.4 billion rand ($1.2 billion) in the six weeks following the enactment of the country’s “two-pot” pension reform. This development is poised to provide much-needed financial flexibility for South African workers, while […]

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CBK Cuts 2024 Growth Forecast to 5.1% Amid Slower Economic Activity

The Central Bank of Kenya (CBK) has lowered its economic growth forecast for 2024, revising it down to 5.1% from the earlier projection of 5.4%. This adjustment comes in light of a slower-than-expected performance in the second quarter of the year, driven by a combination of domestic and global factors, including suppressed credit flows and […]

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In the Vortex of a Debt Crisis: Pakistan’s Struggles with IMF Bailouts, Political Instability, and Economic Reform

Pakistan stands at the brink of securing its 24th bailout from the International Monetary Fund (IMF), a staggering figure that highlights the country’s reliance on international financial assistance. This latest bailout, a $7 billion 37-month extended fund facility, follows the IMF’s release of a $1.1 billion tranche in April 2024, which completed a $3 billion […]

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New Visa Reforms Could Boost South Africa’s Economy by 1.2%

The recent gazetting of the remote work visitor visa and the introduction of a points-based system for work visas marks a significant milestone in South Africa’s immigration policy. This evolution aims to attract skilled and remote workers, offering a pathway to much-needed economic recovery and growth for the nation. These reforms, introduced by Home Affairs […]

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Kenya Launches Digital Nomad Visa to Attract Remote Workers

With the rise of remote work, more professionals are seeking destinations that offer a blend of adventure, rich culture, and reliable connectivity. In response, Kenya has introduced a Digital Nomad Work Permit and a Transit and Long Connection Travelers Electronic Travel Authorization (ETA), aiming to establish itself as a premier destination for digital nomads. Known […]

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Singapore Expected to Keep Monetary Policy Steady Amid Lingering Inflation and Growth Uncertainty

Singapore’s central bank, the Monetary Authority of Singapore (MAS), is anticipated to maintain its current monetary policy stance in its upcoming review, despite persistent inflationary pressures and ongoing global uncertainties. While inflation in the city-state has moderated from its peak levels, analysts believe the MAS will hold off on easing its policy settings in light […]

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NLC Urges Government to Reverse NNPC’s Fuel Price Hike Amidst Economic Struggles

The Nigeria Labour Congress (NLC) has issued a stern call for the Nigerian government to urgently reverse the latest increase in petrol prices, marking the third hike in less than a year. The rising cost of fuel continues to compound the economic pressures faced by citizens, igniting further frustration across the country. With inflation and […]

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