In Nigeria, commercial banks are facing mounting pressure as they continue to withhold cash from customers, exacerbating an already tense situation of cash scarcity across the country. While banks claim the Central Bank of Nigeria (CBN) has failed to provide sufficient cash, the CBN maintains that the banks are hoarding funds. The stalemate has left […]
Kenya is intensifying its efforts to transition to a low-carbon and climate-smart economy with a critical partnership between EcoSecurities and the Kenya Private Sector Alliance (KEPSA). This collaboration aims to mobilize and increase access to carbon and climate finance, supporting Kenya’s broader decarbonization agenda. EcoSecurities, a global leader in climate solutions, leverages nature, technology, and […]
Eurozone government bond yields fell on Friday following the release of inflation data from France and Spain, causing markets to adjust their expectations for interest rate cuts by the European Central Bank (ECB). Investors closely monitored developments in inflation and anticipated upcoming U.S. economic data, which could influence monetary policy on both sides of the […]
In a decisive move aimed at supporting economic recovery, the Bank of Ghana slashed its benchmark interest rate by 200 basis points to 27%, marking the first rate cut since January. The central bank’s decision reflects confidence in the country’s ongoing disinflation process and improving macroeconomic conditions. Bank of Ghana Governor Ernest Addison, addressing a […]
The Kenya National Bureau of Statistics (KNBS) has reported a significant decline in the value of cut flower exports in June 2024. According to the latest KNBS Leading Economic Indicators report, the value of cut flowers exported from Kenya fell by 21.2%, from KSh 6.6 billion in May 2024 to KSh 5.2 billion in June […]
The global digital creative economy is poised to experience remarkable growth, reaching a staggering valuation of AED 27 trillion (approximately $7.35 trillion) by 2030. This prediction, highlighted in a recent white paper published by Dubai Design District (d3) and Dubai Media City, underscores the economic potential of creative industries powered by disruptive technologies such as […]
The Africa Finance Corporation (AFC) has announced a partnership with Itana, a digital economic zone management company, to develop Africa’s first digital economic zone. This initiative marks a significant step forward in creating a unified platform for businesses to operate and scale efficiently across the continent, with a particular focus on leveraging digital technologies and […]
Kenya is reportedly on the verge of finalizing a deal with the United Arab Emirates (UAE) for a $1.5 billion loan. This financial agreement is aimed at bolstering Kenya’s fiscal position as the country grapples with a budget shortfall exacerbated by rising debt costs, political unrest, and economic pressures. According to Bloomberg, citing sources familiar […]
Global debt has surged to a record high of $312 trillion by the end of the second quarter of 2024, according to data from the Institute of International Finance (IIF). The financial services trade group cited significant borrowing from both the United States and China as the primary drivers of this increase, while emerging markets […]
The Central Bank of Nigeria (CBN) is continuing its fight against inflation with aggressive monetary policy measures. While central banks in the U.S., U.K., and the European Union have declared victory over inflation, the battle persists in Nigeria, where inflationary pressures remain a major concern. In response, the CBN’s Monetary Policy Committee (MPC) unanimously decided […]
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...
