Ahmed Zaki, Secretary-General of the Exporters Division at the Cairo Chamber of Commerce, is spearheading efforts to reinvigorate Egyptian exports through strategic initiatives aimed at enhancing competitiveness and stimulating growth. Zaki’s proposal calls for a comprehensive review of Egyptian export priorities, focusing on high-demand products in international markets. Central to his plan is a two-year […]
In a significant move towards sustainable transportation solutions, Kenya Power has announced a substantial investment of Ksh 258 million into electric vehicles (EVs) and associated charging infrastructure. The utility company has allocated Ksh 6.5 million to establish its second EV charging station at Stima Plaza, equipped with advanced technology to cater to the growing demand […]
A recent report from the United Nations Conference on Trade and Development (UNCTAD) forecasts a global economic slowdown to 2.6% in 2024, marking the third consecutive year of growth below pre-pandemic levels. This trend, hovering just above the 2.5% threshold associated with recession, highlights pressing issues overshadowed by current inflation concerns: trade disruptions, climate change […]
The naira’s recent surge against the US dollar came to a halt as it closed at N1,223/$ in the unofficial market on Monday. This pause follows a period of consistent gains by the Nigerian currency. In the black market, the US dollar was priced at N1,207 on Sunday, marking a notable 15 percent decrease from […]
In Kenya, economic growth has long been hailed as a beacon of progress, yet the latest insights from the World Bank’s Africa Pulse Report reveal a sobering reality: poverty remains entrenched despite strides in GDP expansion. While the period between 2005 and 2015 saw promising reductions in poverty and inequality, recent years have ushered in […]
Concerns over the economic stability of low-income countries have taken center stage as the International Monetary Fund (IMF) sheds light on the daunting fiscal hurdles they face. During recent IMF shareholder meetings, Managing Director Kristalina Georgieva underscored the imperative of addressing unsustainable debt burdens and fiscal challenges gripping these nations, exacerbated by the lingering effects […]
Akinwumi Adesina, President of the African Development Bank (ADB), sounded an alarm at the Semafor World Economy Summit regarding Africa’s mounting debt crisis. With the continent’s debt soaring to $824 billion in 2021, Adesina underscored the urgent need for transparency and accountability in managing these financial obligations. During the event, held on the sidelines of […]
In a bid to stimulate economic growth and attract investment, Machakos County has identified avocado, coffee, and cotton as key sectors for development. Cabinet Secretary for Investment, Trade, and Industry, Rebecca Miano, commended Machakos’ strategic focus on becoming an investment hub, aligning with the government’s economic agenda. During a roundtable discussion at the Machakos International […]
The International Monetary Fund (IMF) has revised its growth forecast for Saudi Arabia’s economy, predicting a robust expansion of six percent in 2025, up from the previous projection of 5.5 percent made in January 2024. This marks the second consecutive upward adjustment in the IMF’s forecast for Saudi Arabia’s economic growth in 2025. The Kingdom’s […]
Egypt’s financial landscape witnessed a significant shift as the central bank reiterated its dedication to maintaining a flexible exchange rate regime, ensuring a steady flow of foreign currency reserves. This announcement stands as a crucial component of Egypt’s $8 billion loan program with the International Monetary Fund (IMF). The decision to allow the Egyptian pound […]
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...
