In a move aimed at bolstering Nigeria’s informal sector, the Federal Government is set to introduce significant tax reforms. Mr. Taiwo Oyedele, chairing the Presidential Fiscal Policy and Tax Reforms Committee, unveiled this initiative during the committee’s closing session in Abuja. The proposed reforms target the bulk of businesses in the informal economy, offering tax […]
Kenya, alongside Ethiopia, Rwanda, Tanzania, and Uganda, has been chosen to spearhead the COMESA East Africa Communality (EAC) Horticultural Accelerator (CEHA) initiative. CEHA aims to enhance the horticultural sector across Eastern and Southern Africa. Dr. Mohamed Kadah, Assistant Secretary General Programmes at the COMESA secretariat, outlined CEHA’s vision during the launch of its Kenya Chapter. […]
The Bank of England maintained its main interest rate at a 16-year high, standing firm at 5.25 percent, but hinted at a potential cut in the summer amidst cooling UK inflation and signs of economic recovery. Governor Andrew Bailey emphasized the need for further evidence of sustained low inflation before considering a rate reduction. However, […]
Egypt’s economic development took center stage during the recent “IFC Day in Egypt” conference, where key stakeholders convened to discuss strategies for enhancing the country’s private sector. Led by Minister of Trade and Industry Ahmed Samir, alongside ministers, officials, and business leaders, the event, organized by the International Finance Corporation (IFC), highlighted the strategic partnership […]
After weeks of negotiations and mounting pressure, Kenya’s medical landscape is poised for a significant shift as doactors and the government have finally reached a landmark agreement to end the prolonged strike that has gripped the nation since mid-March. In a televised ceremony witnessed across the country, representatives from the Kenya Medical Practitioners, Pharmacists, and […]
The latest Bureau of Labor Statistics report released Friday unveils a notable slowdown in US job growth, with just 175,000 positions added in April, marking the lowest surge since October of the previous year. This deceleration in job gains coincides with the Federal Reserve’s efforts to temper demand and curb soaring inflation. Market Reaction: Investors […]
Ugandan President Yoweri Museveni’s recent announcement regarding taxation policies has ignited a trade dispute with Kenya. Museveni defended Uganda’s decision to increase taxes on agricultural imports from Kenya, emphasizing its strategic importance in bolstering Uganda’s economy. Under Uganda’s revised tax policy, consumer goods face increased taxation while essentials for production and industrialization remain exempt. Museveni […]
Kenya is poised to make history as the first African nation to synchronize its data protection infrastructure with the European Union, marking a significant stride in safeguarding digital assets. At the ninth Network of African Data Protection Authorities (NADPA-RAPDP) Annual General Meeting (AGM), European Deputy Ambassador Ondrej Simek commended Kenya’s proactive approach towards data security, […]
The Federal Reserve finds itself at a crossroads as inflation remains stubbornly above the target threshold of 2%. With rates hovering around 2.7% for the first quarter, policymakers face a delicate balancing act between sustaining economic growth and containing inflationary pressures. Recent remarks by Federal Reserve Chair Jerome Powell indicate a cautious approach, suggesting that […]
Cairo: Egypt’s economic landscape witnessed a significant upswing in April 2024, with the nation’s international reserves reaching an impressive $41.057 billion. This surge, reported by the Central Bank of Egypt, represents a notable increase of $696 million compared to the previous month. A key factor driving this growth is the appreciation in gold reserves, which […]
Kenya, a vibrant East African economic hub, finds itself at a critical juncture, grappling with persistent challenges of corruption, illicit...
The United States labor market delivered a robust performance in June, with job growth surpassing economists' forecasts and the unemployment...
Africa is on the cusp of a profound digital transformation, with its data centre sector emerging as a critical backbone...
The vibrant city of Nairobi is currently hosting a pivotal event poised to redefine Africa's investment landscape: the inaugural NextFrontierAfrica...
