Ghana has officially commenced the construction of a $12 billion petroleum hub, a monumental project designed to position the West African nation as a leading player in the regional and global energy markets. President Nana Akufo-Addo inaugurated the project on Monday in the southwestern city of Jomoro, marking the beginning of a venture that the […]
Kenya’s new finance minister, John Mbadi, has announced the reintroduction of several controversial tax proposals that had previously sparked widespread and deadly protests across the nation. These proposals, initially withdrawn after intense public backlash, are set to return through a tax amendment bill as the government grapples with the daunting challenge of raising revenue to […]
Vice President Kamala Harris is set to announce a robust economic agenda as she embarks on her first major policy rollout since becoming the Democratic Party’s presidential nominee. Following her recent ascension to the top of the ticket, replacing President Joe Biden, Harris is riding a wave of enthusiasm. Her campaign has been buoyed by […]
In a significant move aimed at bolstering Nigeria’s economy, the Oil and Gas Free Zones Authority (OGFZA) has initiated a strategic collaboration with the Nigerian Financial Intelligence Unit (NFIU). This partnership is expected to play a crucial role in attracting high-value foreign direct investment (FDI) and enhancing the transparency and compliance standards within Nigeria’s oil […]
In 2023, Kenya’s banking sector witnessed an unprecedented surge in interbank borrowing, with banks lending a record Sh577 billion to each other, a significant leap from previous years. This development, highlighted in the latest report by the Kenya Bankers Association (KBA), underscores the increasingly challenging financial environment that has characterized the sector. Rising interest rates, […]
Goldman Sachs, one of the leading global investment banks, has adjusted its forecast regarding the likelihood of a U.S. recession within the next 12 months, lowering the odds from 25% to 20%. This revision comes in response to a series of favorable economic indicators, particularly the latest weekly jobless claims and retail sales reports, which […]
The East African Community (EAC) Secretariat has raised concerns over the growing trend of partner states requesting stays of application of tax on products that are readily available within the region. This practice, while addressing immediate economic needs, is increasingly distorting intra-regional trade and complicating the implementation of the Common External Tariff (CET). Background and […]
As Kenya approaches a critical juncture in its trade relations with the United States, the country is racing against time to finalize a Strategic Trade and Investment Partnership (STIP) agreement. With the U.S. presidential elections looming, the stakes have never been higher for Kenya, which risks having its progress on the deal derailed depending on […]
The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, took a significant step on Thursday, August 15, 2024, by cutting its key interest rate for the first time in nearly four years. This move comes amid ongoing adjustments in the country’s economic landscape as inflation shows signs of easing, and the central […]
Nigeria’s economic landscape is once again under the spotlight as the National Bureau of Statistics (NBS) reports a decline in the country’s headline inflation rate to 33.40% in July 2024, down from 34.19% in June 2024. This development marks the first drop in the headline inflation rate since December 2022, when the inflation rate was […]
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...
