At the AmCham Business Summit in Nairobi, US Ambassador to Kenya, Meg Whitman, outlined key strategies to bolster Kenya’s economic standing within Africa. Whitman emphasized the potential of Kenya’s manufacturing sector to drive economic expansion, particularly in apparel exports to the US. To achieve this, she underscored the importance of revitalizing cotton farming and sustained […]
The latest report from the United Nations’ Food and Agriculture Organization (FAO) reveals a continued upward trend in world food prices for the second consecutive month. In April, the FAO’s price index, tracking key food commodities, edged slightly higher to an average of 119.1 points, up from March’s revised 118.8 points. However, this still represents […]
Nigeria’s financial sector is set to undergo a significant change with the introduction of a cybersecurity levy on electronic transactions. This decision, communicated through a circular from the Central Bank of Nigeria (CBN) on May 6, 2024, comes as a response to the Cybercrime (Prohibition, Prevention, etc) (Amendment) Act 2024. Under this new levy, deposit […]
Kenya’s government, under President William Ruto’s leadership, is taking steps to scrap double taxation with Belarus. Spearheaded by the National Treasury, this initiative aims to streamline tax regulations, promoting a conducive environment for bilateral trade. The Double Taxation Agreement (DTA) focuses on income taxes and is currently open for public input, reflecting the government’s commitment […]
New York Federal Reserve Bank President John Williams reiterated the importance of the central bank’s 2% inflation target, emphasizing its role in maintaining price stability and economic prosperity. Speaking at a monetary policy conference at Stanford University’s Hoover Institution, Williams underscored the necessity of transparent communication to anchor inflation expectations. The Federal Reserve has grappled […]
In the fields of southern Chad, cotton farmers face an uncertain future as they grapple with the twin challenges of climate change and political neglect. For generations, cotton has been the backbone of communities like Kagtaou, sustaining livelihoods and fueling economic growth. However, the once-thriving industry now teeters on the brink of collapse. Declador Rimleldeoudje, […]
In the wake of devastating floods wreaking havoc across multiple regions in Kenya, the Ministry of Trade has stepped forward with a resolute pledge to aid businesses and industries grappling with the aftermath. Cabinet Secretary Rebecca Miano has voiced the government’s commitment to extending assistance to those affected, underscoring the severity of the situation which […]
In its latest policy statement, the U.S. Federal Reserve announced its decision to keep interest rates unchanged, opting for a cautious approach amidst persistent concerns over inflation levels. The central bank acknowledged the need for sustained progress in inflation but refrained from indicating any imminent adjustments to borrowing costs. Highlighting a concerning lack of momentum […]
Nigeria’s Federal Government has recently approved a substantial salary boost, ranging between 25% and 35%, for civil servants across multiple consolidated salary structures. Effective January 1, 2024, this enhancement encompasses six key structures, including the Consolidated Public Service Salary Structure (CONPSS), Consolidated Research and Allied Institutions Salary Structure (CONRAISS), Consolidated Police Salary Structure (CONPOSS), Consolidated […]
The Nairobi Securities Exchange (NSE) witnessed an impressive growth spurt in market capitalization during Q1 2024, soaring to a substantial KSh 1.8 trillion, according to the latest Capital Markets Authority (CMA) report. This surge, representing a robust 22.79 percent increase from the previous quarter, highlights the intensified trading activities across the exchange. Notably, NSE equity […]
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...
