The Bank of Japan (BOJ) maintained its short-term interest rates at 0.25% following a two-day meeting that concluded on September 20, 2024. This move, widely anticipated by market analysts, underscores the central bank’s ongoing efforts to balance between inflation control and fostering economic recovery. The BOJ also revised its outlook on consumption, offering a more […]
In a significant move to modernize its financial landscape, South Sudan has introduced strict limits on cash withdrawals in an effort to promote the use of electronic payment systems. The Bank of South Sudan (BoSS), the country’s central banking authority, has capped daily cash withdrawals at SSP10 million (approximately $3,730.58) per individual or entity. The […]
Safaricom, Kenya’s leading telecommunications provider, has entered into a strategic partnership with Mastercard to enhance payment acceptance and cross-border remittance services. This collaboration will benefit over 636,000 merchants using M-PESA, Safaricom’s mobile money platform, which has become a cornerstone of Kenya’s digital financial ecosystem. The partnership marks a significant step toward fostering greater financial inclusion […]
Sri Lanka’s presidential election, scheduled for Saturday, is set to be a crucial event that could shape the nation’s future trajectory, both politically and economically. The election has raised concerns about the ongoing economic recovery and its long-awaited debt restructuring deal with bondholders. As the nation grapples with lingering economic challenges, the outcome of this […]
In a significant shift in South Africa’s monetary policy, the South African Reserve Bank (SARB) has lowered interest rates for the first time since 2020, signaling optimism regarding inflation control and economic recovery. This move follows global trends of easing financial conditions and offers a potential stimulus to South Africa’s struggling economy, which has been […]
In a significant move that underscores the expanding role of private companies in Kenya’s infrastructure sector, the Kenyan government has awarded a $1.3 billion power transmission contract to India’s Adani Group, led by billionaire Gautam Adani. The deal, part of a broader effort to boost Kenya’s energy infrastructure and meet the rising demand for electricity, […]
The Federal Reserve took a significant step on Wednesday by announcing an anticipated series of interest rate cuts. The U.S. central bank opted for a larger-than-usual reduction, cutting its benchmark policy rate by half a percentage point. This move signals the Fed’s commitment to maintaining economic stability, particularly in terms of unemployment, following the recent […]
A Temporary Respite for Burundi After weeks of fuel shortages that severely disrupted daily life and businesses across Burundi, a temporary relief came this week as petroleum supplies finally arrived, allowing the fuel queues that had become a common sight in Bujumbura, the country’s commercial capital, to disappear. The scarcity had led to widespread complaints […]
In a significant move aimed at accelerating industrial growth and attracting investment, Kenya’s Special Economic Zones (SEZs) have received a major boost following the official launch of the Association of Special Economic Zones (ASEZ). This new association is set to transform the landscape of SEZs by bringing together various stakeholders, including developers, operators, investors, and […]
The upcoming Qatar-EU summit, set to take place in October 2024 in Brussels, is expected to be a pivotal moment in the strengthening of bilateral relations between Qatar and the European Union (EU). This will mark the first-ever leaders’ summit between the two entities, and according to H.E. Dr. Cristian Tudor, the EU Ambassador to […]
In a decisive move to fortify its economic resilience and reassure international investors, Kenya has finalized a landmark agreement aimed...
A significant trade dispute is brewing between two of the world's largest democracies, India and the United States, as New...
In a strategic move to alleviate its burgeoning debt burden and unlock crucial development financing, Egypt has successfully secured over...
As Kenyans prepare for fresh Saba Saba Day protests on Monday, the government has sounded a strong alarm regarding potential...
