Kenya’s Central Bank of Kenya (CBK) made a significant move to stimulate economic activity by lowering its benchmark lending rate to 12.00% from 12.75%. This decision, taken by the Monetary Policy Committee (MPC), marks the second consecutive rate cut this year, following a similar 25-basis-point reduction in August. The central bank aims to boost private […]
The Reserve Bank of India (RBI) has kept its key interest rates unchanged at 6.50%, as widely expected, while shifting its policy stance from “withdrawal of accommodation” to “neutral.” This move, signaling potential rate cuts in the near future, comes as India faces early signs of an economic slowdown. The decision, made by the Monetary […]
The Bank of Uganda (BoU) has reduced its benchmark Central Bank Rate (CBR) by 0.25% to 9.75%, marking the second rate cut this year. This decision reflects a broader trend of central banks adopting more accommodative monetary policies amid declining inflationary pressures. The move is in line with recent developments seen across global financial markets, […]
Kenya is embarking on an ambitious initiative to significantly increase its workforce presence in Qatar, aiming to send 300,000 workers to the Gulf nation. This figure represents a substantial increase from the current 67,000 Kenyans working in Qatar. The plan was revealed by Labour and Social Protection Cabinet Secretary Alfred Mutua during a recent meeting […]
The growing debt burden on the world’s poorest nations is stalling progress toward critical sustainable development goals (SDGs), according to Achim Steiner, Administrator of the United Nations Development Programme (UNDP). Speaking at the Hamburg Sustainability Conference in Germany on October 7, 2024, Steiner highlighted that countries are facing immense financial pressures, forcing them to prioritize […]
On October 6, 2024, South Africa’s Department of Employment and Labour made a significant announcement regarding the expansion of the budget for the Temporary Employer-Employee Relief Scheme (TERS). The budget has been increased from R400 million to R2.4 billion per annum to address the growing economic challenges and prevent layoffs across various industries. The expanded […]
Kenya is taking significant steps toward addressing corruption and governance issues by requesting a formal assessment from the International Monetary Fund (IMF). This move follows pressure from Western countries and aligns with the Kenyan government’s ongoing efforts to manage its rising debt and economic instability. The IMF has confirmed the request for a governance diagnostic, […]
The European Union (EU) is on the cusp of a critical decision regarding the imposition of tariffs on Chinese electric vehicles (EVs), a move that could reshape the global electric vehicle market and escalate tensions between the EU and China. The issue centers on the European Commission’s proposal to impose tariffs of up to 45% […]
South Africa’s government is set to implement significant visa reforms aimed at stimulating economic growth by attracting skilled workers, tourists, and capital investment. These changes mark a departure from past immigration policies that have been criticized as xenophobic and overly restrictive. Home Affairs Minister Leon Schreiber, who announced the upcoming reforms, emphasized the potential of […]
Kenya’s inflation rate experienced a significant drop in September 2024, providing a much-needed reprieve for the economy amid persistently high food and commodity prices. According to the latest data from the Kenya National Bureau of Statistics (KNBS), the inflation rate eased from 4.4 percent in August to 3.6 percent in September. Despite the decline, rising […]
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...
