Tanzania’s financial landscape has undergone a dramatic shift with the recent implementation of new regulations that prohibit the use of foreign currencies, including the US dollar, for local transactions. These new rules, announced by the Bank of Tanzania and published in the Government Gazette on March 28, 2025, have set the stage for a significant […]
Kenya’s President William Ruto has recently lauded the Finance Bill 2025, calling it a “carefully crafted” piece of legislation that will be instrumental in the country’s economic growth. During his address at the Uhuru Gardens on May 1, 2025, which coincided with the annual Labour Day celebrations, Ruto emphasized that the bill was designed to […]
As the world continues to rapidly evolve with technological advancements, artificial intelligence (AI) is increasingly positioned as a transformative force for the global economy. A recent report by PwC, titled Value in Motion, has revealed that AI could potentially drive a significant economic boost, increasing global economic output by as much as 15% by 2035. […]
The African Export-Import Bank (Afreximbank) has recently unveiled an ambitious $3 billion revolving credit line designed to facilitate easier access to fuel products for buyers across Africa and the Caribbean. This new initiative aims to tackle the continent’s longstanding reliance on imported fuels, offering a new avenue for sourcing petrol, diesel, jet fuel, and other […]
In a decisive move to rein in public spending and inject fresh momentum into Kenya’s economy, President William Ruto presided over a Cabinet meeting at State House, Nairobi, that approved the Finance Bill, 2025. The legislation, which now proceeds to Parliament, aims to sharpen tax administration, seal revenue leakages, and unlock growth—particularly for small businesses […]
West Texas Intermediate (WTI) crude continued its slide for a third straight session on Wednesday, trading near $59.50 a barrel during Asian hours. The benchmark is on track for its biggest monthly drop—down more than 15 percent—since November 2021, as mounting fears over slowing global growth, weakening fuel demand and rising supply combine to sap […]
While South Africa’s gross domestic product edged up by 0.6 percent in 2024—the strongest annual gain since mid-2023—the numbers mask an uneven recovery and deep structural hurdles. A bumper agriculture season, livelier trade activity and a resilient finance sector provided the bulk of growth, but mining, manufacturing and parts of the energy complex lagged behind. […]
As Kenya faces mounting economic pressures and dwindling external financing, the International Monetary Fund (IMF) has called on the government to prioritize development funding through careful expenditure management. IMF’s advice to Kenya comes amidst the challenges of shrinking access to external financing and the increasing difficulty in mobilizing adequate domestic revenue. The IMF has urged […]
In a critical address to the UN Economic and Social Council (ECOSOC) forum, the UN warned of an impending $4 trillion shortfall that threatens the progress of the Sustainable Development Goals (SDGs). At a time when rising global tensions, soaring debt, and increasing trade barriers are undermining international collaboration, the UN’s top officials called for […]
Zimbabwe is taking a bold step toward ensuring the sustainable management of its fisheries and aquaculture sector with the introduction of a new bill designed to streamline and regulate the country’s fishing industry. This move comes after years of criticism regarding the lack of a cohesive framework, which has contributed to overfishing and unsustainable practices, […]
Alphabet officially closed its landmark $32 billion acquisition of Wiz on March 11, 2026 — exactly one year after the...
In a decision that reverberates far beyond the walls of a single company, the Federal Reserve Bank of Kansas City...
South Africa's premier retail group, Woolworths Holdings Limited (JSE: WHL), confirmed on Thursday morning that Group Chief Executive Officer Roy...
Standard Bank Group, Africa's biggest lender by assets, has delivered a landmark full-year performance for 2025, posting record headline earnings...
