Nigeria has marked a significant milestone in its journey toward economic diversification, reporting a total of 663 million metric tonnes of non-oil products exported to 11 member states of the Economic Community of West African States (ECOWAS) in the first half of 2025. This impressive figure, announced by the Nigeria Export Promotion Council (NEPC), underscores […]
The financial stability of Kenya, a key economic hub in East Africa, has come under scrutiny as the nation’s foreign exchange (forex) reserves have experienced a significant drop. Data from the Central Bank of Kenya (CBK) highlights a decrease of $509 million (KSh 65.8 billion) over the past three weeks alone. This substantial decline is […]
In a significant revision to its economic outlook, J.P. Morgan now expects the U.S. Federal Reserve to cut interest rates at its September meeting. This new forecast, which brings the anticipated action forward by several months, is a direct response to recent shifts in both the economic and political spheres. The brokerage had previously predicted […]
In a landmark development for its economy, Nigeria’s crude oil production has officially crossed the 1.8 million barrels per day (MMBOPD) mark in July, a key milestone that signals the potential for a new era of stability and growth in the nation’s energy sector. The average production for the month hovered at 1.78 MMBOPD, a […]
Kenyan exporters of agricultural produce are set to benefit from a significant trade breakthrough as the country finalizes a bilateral agreement with China. This landmark deal, which grants duty-free access to the Chinese market for key Kenyan exports, marks a pivotal moment in Kenya’s foreign trade policy. Concluded following high-level talks during President William Ruto’s […]
The first half of 2025 has delivered a stark wake-up call to the global insurance industry. According to preliminary estimates from the Swiss Re Institute, global insured losses from natural catastrophes hit an unprecedented $80 billion. This figure nearly doubles the 10-year average and serves as a powerful indicator of the escalating risks posed by […]
For international investors, Zambia’s debt restructuring journey has been a closely watched case study. As the first African nation to default in the pandemic era and seek relief under the G20 Common Framework, its path to financial recovery was seen as a potential blueprint for other struggling economies. However, that journey took a significant step […]
In a pioneering move set to revolutionize the understanding of its vital diaspora economy, the Central Bank of Kenya (CBK) has officially launched the nation’s first-ever Remittances Household Survey (RHS). This ambitious initiative, undertaken in close collaboration with the Kenya National Bureau of Statistics (KNBS) and Financial Sector Deepening Kenya (FSD Kenya), aims to collect […]
In a significant development for global commerce, a 15% tariff has been formally applied to a wide array of European Union goods entering the United States. This move, confirmed by a senior EU official on Tuesday, marks a crucial juncture in the often-strained trade relationship between the two economic powerhouses. Unlike more selective agreements Washington […]
In a significant blow to South Africa’s already challenged export sector, Danish shipping giant Maersk has announced the discontinuation of its direct cargo shipments between South Africa and the United States, effective October 1. This strategic decision means that South African exports destined for the U.S. will now be rerouted via European transshipment hubs, leading […]
Businesses and governments in Nigeria, Kenya, and South Africa are confronting dramatically higher borrowing costs compared to previous years, according...
In a landmark announcement that signals Britain's emergence as a global AI powerhouse, Google has unveiled its £5 billion investment...
Nigeria's crude oil sector has demonstrated resilience and recovery, accounting for 52.60% of the nation's total exports in the second...
Electric bus manufacturer BasiGo has signed a groundbreaking deal with Kenya Vehicle Manufacturers (KVM) in Thika to begin local assembly...
