In a decisive move aimed at reinforcing the country’s ongoing economic recovery, Sri Lanka’s central bank kept its key overnight policy rate unchanged at 8% for the second consecutive meeting on Wednesday. This decision, aligned with the views of a majority of economists polled by Reuters, comes at a time when the South Asian nation […]
Africa’s digital landscape is undergoing a revolutionary transformation, with the digital payments sector emerging as a key driver of economic growth and financial inclusion. According to a Mastercard-commissioned report by Genesis Analytics, the digital payments economy in Africa is projected to skyrocket and reach an impressive $1.5 trillion by 2030. This forecast not only underscores […]
Kenya Railways is redefining the landscape of regional development through its innovative integration of modern transport solutions and revitalized rail networks. The recent introduction of a stopover for the Madaraka Express Passenger train at Voi station has sparked a notable uptick in economic activity, particularly in the Taita Taveta region. This development is part of […]
The latest data from the euro zone is painting a cautiously optimistic picture for Europe’s economic landscape. According to a preliminary composite Purchasing Managers’ Index (PMI) compiled by S&P Global and reported by Reuters, business activity in the common currency bloc grew at its fastest pace in seven months in March. The composite PMI rose […]
In a landmark move that could redefine its economic trajectory, Ethiopia has reached an agreement with its official creditors to restructure $8.4 billion of public debt. Announced on March 23, 2025, by the Ministry of Finance, the deal represents a critical step in the country’s long-standing efforts to stabilize its economy and restore financial credibility […]
In an exciting display of innovation and entrepreneurial spirit, nine startups from the inaugural cohort of the Safaricom Spark Accelerator Programme pitched their groundbreaking ideas at an investor demo day held on March 24, 2025. The event, which took place against the backdrop of Kenya’s thriving tech ecosystem, showcased a diverse array of ventures spanning […]
In a landmark move aimed at stabilizing a pivotal ally in the Arab world, the European Union has unveiled a €7.4 billion aid package for Egypt. Announced on March 24, 2025, this multifaceted financial package—comprising both grants and loans—comes at a time when Egypt faces mounting economic pressures and regional instability. The initiative, set to […]
In a bold demonstration of its commitment to fueling Africa’s economic transformation, the Tony Elumelu Foundation (TEF) has unveiled a $15 million grant program designed to empower 3,000 budding entrepreneurs across 52 African countries. Announced by TEF Founder Tony Elumelu during a high-profile event in Abuja on March 23, 2025, this initiative underscores the foundation’s […]
In a candid and thought-provoking interview on Citizen TV, National Treasury Cabinet Secretary John Mbadi warned that Kenya is burdened with an extraordinarily expensive government. According to Mbadi, the high costs of running the national administration, particularly through enormous salary payments and hefty debt servicing obligations, are choking the country’s fiscal space and slowing down […]
Outstanding government and corporate bonds have now surpassed the $100 trillion mark, according to the latest annual debt report from the Organisation for Economic Co-operation and Development (OECD). This dramatic milestone comes amid an environment of rising interest costs, complex geopolitical tensions, and mounting fiscal pressures. With central banks beginning to cut interest rates after […]
Fintech platform Endl has successfully closed a $1.5 million pre-seed funding round, attracting investment from prominent backers including Iterative Singapore,...
Cape Town-headquartered venture capital firm HAVAÍC has announced the third close of its US$50 million African Innovation Fund 3, securing...
Kenya’s monetary policy cycle has entered a defining phase. The Central Bank of Kenya (CBK) has lowered its benchmark rate...
In a development that signals a deeper convergence between traditional finance and digital assets, Binance, the world’s largest cryptocurrency exchange...
