In a significant boost to Nigeria’s economic outlook, the Federal Government has reported a remarkable 30% increase in oil revenue for the first half of 2024 compared to the same period in 2023. This announcement, made by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, highlights the positive impact of […]
President William Ruto has set an ambitious goal of generating Sh120 billion from Kenya’s blue economy within the next three years. This bold vision places a substantial responsibility on newly appointed Cabinet Secretary and former Mombasa Governor Hassan Joho. President Ruto has outlined a comprehensive plan for revitalizing the sector, emphasizing tangible results and direct […]
In a powerful appeal for global action, U.S. Treasury Secretary Janet Yellen has called for an astonishing $3 trillion in annual climate finance to achieve global net-zero emissions by 2050. This ambitious target, which far exceeds current spending levels, highlights the enormous scale of the challenge and the urgent need for unprecedented international cooperation. Speaking […]
In a dramatic bid to revive its struggling economy, Ethiopia has decided to scrap its strict foreign exchange controls, letting the birr freely float against major currencies. This bold move, announced by the central bank on Monday, aims to tackle the Horn of Africa nation’s crippling debt crisis and soaring inflation. Following the announcement, the […]
A Green Future, a Brighter Economy Kenya is on the brink of a green revolution that could transform its economy, potentially creating a staggering 240,000 new jobs by 2030. This optimistic projection comes from a groundbreaking report by Financial Sector Deepening (FSD) and Shortlist, highlighting the country’s commitment to environmental sustainability and its potential to […]
A Perfect Storm for Growth The sports goods industry is currently basking in a golden era, with global trade hitting a remarkable $64 billion in 2022. This milestone marks a threefold increase since 1996, according to a recent World Trade Organization (WTO) report. The impressive growth can be attributed to a confluence of factors: a […]
A Partnership for Progress The African Development Bank (AfDB) is reaffirming its dedication to supporting Guinea’s journey towards economic development. From July 11 to 13, a high-level delegation led by Marie-Laure Akin-Ougbade, Vice President for Regional Development, Integration and Business Delivery, and Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth, visited Conakry […]
Kenya’s Rural Electrification Scheme (RES), established in 1973 with the noble aim of bringing electricity to remote areas and empowering rural communities, is now facing an existential threat. Recent reports reveal a staggering Sh55.9 billion loss accumulated by the scheme, painting a concerning picture. This analysis delves deeper into the factors contributing to the crisis, […]
Ankara Signals Confidence with Reserve Boost and Improved Ratings In a move showcasing its growing economic confidence, Turkey has announced the repayment of a $5 billion deposit held by Saudi Arabia. This bold decision comes in the wake of a revised growth forecast by the International Monetary Fund (IMF) and a credit rating upgrade by […]
The air in Harare is thick with anticipation as the city prepares to host the prestigious 3rd Canada-Africa Business Conference this coming October. This two-day event, organized by the Canada-Africa Chamber of Business (CABC), is set to play a pivotal role in strengthening the trade and investment bonds between Canada and the dynamic economies of […]
In a significant diplomatic stride, the Republic of Cyprus has officially inaugurated its embassy in Nairobi, marking a pivotal moment...
The Syrian economy, devastated by over a decade of conflict, stands at a critical juncture. On Monday, the World Bank...
The world's youngest nation, South Sudan, is once again at a critical economic crossroads, facing a severe financial crisis that...
In a vibrant display of its growing economic prowess and innovation, Kenyan startups have collectively raised a remarkable Sh17 billion...
