In the bustling tech hubs of Lagos, a storm is brewing, threatening to unravel the fragile threads that hold Nigeria’s digital economy together. Tech entrepreneurs, united under the aegis of the Nigerian Tech Community (NTC), have issued a heartfelt plea to Nigerians: cancel the looming nationwide protests set to begin on August 1. These protests, […]
As economic pressures mount, a new consumer index reveals that the majority of Kenyans are cutting back on non-essential purchases to stay afloat. The ILAM Consumer Spending Index for the Second Quarter of 2024 highlights the significant impact of rising prices on consumer behavior, with 77 percent of Kenyans reporting increased spending on essential goods […]
The Federal Reserve’s ongoing efforts to revamp a crucial emergency lending facility have garnered legislative backing, as Democratic Senator Mark Warner of Virginia introduced a bill on Friday aimed at overhauling the Fed’s discount window. This move comes in response to the long-standing stigma banks face when accessing this facility, a sentiment that was notably […]
In a significant boost to Nigeria’s economic outlook, the Federal Government has reported a remarkable 30% increase in oil revenue for the first half of 2024 compared to the same period in 2023. This announcement, made by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, highlights the positive impact of […]
President William Ruto has set an ambitious goal of generating Sh120 billion from Kenya’s blue economy within the next three years. This bold vision places a substantial responsibility on newly appointed Cabinet Secretary and former Mombasa Governor Hassan Joho. President Ruto has outlined a comprehensive plan for revitalizing the sector, emphasizing tangible results and direct […]
In a powerful appeal for global action, U.S. Treasury Secretary Janet Yellen has called for an astonishing $3 trillion in annual climate finance to achieve global net-zero emissions by 2050. This ambitious target, which far exceeds current spending levels, highlights the enormous scale of the challenge and the urgent need for unprecedented international cooperation. Speaking […]
In a dramatic bid to revive its struggling economy, Ethiopia has decided to scrap its strict foreign exchange controls, letting the birr freely float against major currencies. This bold move, announced by the central bank on Monday, aims to tackle the Horn of Africa nation’s crippling debt crisis and soaring inflation. Following the announcement, the […]
A Green Future, a Brighter Economy Kenya is on the brink of a green revolution that could transform its economy, potentially creating a staggering 240,000 new jobs by 2030. This optimistic projection comes from a groundbreaking report by Financial Sector Deepening (FSD) and Shortlist, highlighting the country’s commitment to environmental sustainability and its potential to […]
A Perfect Storm for Growth The sports goods industry is currently basking in a golden era, with global trade hitting a remarkable $64 billion in 2022. This milestone marks a threefold increase since 1996, according to a recent World Trade Organization (WTO) report. The impressive growth can be attributed to a confluence of factors: a […]
A Partnership for Progress The African Development Bank (AfDB) is reaffirming its dedication to supporting Guinea’s journey towards economic development. From July 11 to 13, a high-level delegation led by Marie-Laure Akin-Ougbade, Vice President for Regional Development, Integration and Business Delivery, and Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth, visited Conakry […]
Kenya's fiscal deficit is projected to widen by 10.23 percent in the 2026/27 financial year (FY), signaling renewed pressure on...
Financial markets are experiencing a significant shift as the benchmark US 10-Year Treasury Yield has decisively fallen below the critical...
A comprehensive demographic research study conducted by the International Labour Organisation (ILO) has revealed alarming statistics about Nigeria's employment landscape,...
Africa's electric mobility story has long been characterized by unfulfilled promise rather than tangible progress. Infrastructure remains scarce across the...
