The African Development Bank Group has approved a landmark €117 million financing package to fundamentally transform Benin’s 77 municipalities into thriving centers of private investment and job creation. The Support Programme for the Economic Development of Local Authorities (PADECT), approved on October 24, 2025, represents the Bank’s first-ever sub-national financing initiative in the West African […]
Despite confronting a challenging economic environment marked by slower GDP growth, elevated interest rates, and mounting operational expenses, Kenya’s banking sector demonstrated its critical importance to national revenue mobilization by collectively contributing Sh194.8 billion in taxes to the government during 2024. This substantial tax payment underscores the financial sector’s pivotal role in supporting government operations […]
The United States government shutdown has entered a critical phase as it becomes the second-longest funding lapse in the nation’s history, with hundreds of thousands of federal workers missing their first full paychecks on Friday and no immediate resolution in sight. The unprecedented length of this budget impasse is creating cascading effects across multiple sectors […]
In a landmark move that signals a significant shift in international financial cooperation and the evolving architecture of global finance, China and South Africa have formalized a groundbreaking loan agreement denominated entirely in Chinese yuan (renminbi), marking a historic milestone in both BRICS financial integration and the ongoing global de-dollarization trend. This pioneering deal represents […]
A transformative infrastructure project linking Kenya and Uganda has received crucial endorsement from regional stakeholders, marking a significant milestone in East Africa’s efforts to enhance cross-border connectivity and facilitate regional trade. The 200-kilometre Kisumu–Busia / Kakira–Malaba Multinational Expressway has been officially confirmed as both feasible and investment-ready, setting the stage for what promises to be […]
Global crude oil markets experienced dramatic volatility on Thursday as spot premiums for key benchmark grades surged following the United States’ imposition of comprehensive sanctions on Russia’s largest oil producers, fundamentally altering supply dynamics for the world’s two largest crude importers, China and India. The U.S. Department of the Treasury announced sweeping sanctions targeting Rosneft, […]
Turkey’s expanding economic engagement with Africa reached a new milestone in October 2025 as Ankara formalized strategic partnerships with four African nations through comprehensive memoranda of understanding covering trade facilitation, infrastructure development, renewable energy cooperation, and industrial collaboration. These agreements underscore Turkey’s growing importance as an economic partner for the continent and reflect a deliberate […]
Kenyans holding virtual assets such as cryptocurrencies and other digital tokens could soon have the option to insure them under new regulations proposed by the Insurance Regulatory Authority (IRA), the country’s insurance sector watchdog. This move represents a significant milestone in Kenya’s evolving approach to digital asset regulation and could position the East African nation […]
Goldman Sachs has issued a stark warning about mounting risks to global supply chains of rare earth elements and other critical minerals, emphasizing China’s overwhelming dominance in mining and refining operations while outlining substantial challenges facing nations attempting to establish independent supply chains. The investment banking giant’s analysis comes at a time of heightened geopolitical […]
BP, one of the world’s largest integrated energy companies, has confirmed the preliminary results of the Volans-1X exploration well in Namibia’s Orange Basin, marking another significant milestone in what is rapidly emerging as one of Africa’s most promising new petroleum provinces. The discovery, as reported by operator Rhino Resources, represents the third major hydrocarbon find […]
Kenya's inflation rate edged lower to 4.5% year-on-year in November 2025, down from 4.6% in October, marking the 29th consecutive...
The euro zone's annual inflation rate edged higher to 2.2% in November 2025, according to flash estimates published by Eurostat...
South Africa's economy maintained its upward trajectory in the third quarter of 2025, expanding by 0.5% quarter-on-quarter, according to data...
The International Finance Corporation and the Kenya Investment Authority have entered into a strategic collaboration that establishes a comprehensive framework...
