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President Ruto Seeks New Multi-Million Dollar Infrastructure and Trade Deals in China Visit

President William Ruto’s official visit to Beijing for the 9th Forum on China-Africa Cooperation (FOCAC) Summit marks a pivotal moment in Kenya-China relations, with significant potential benefits for Kenya’s infrastructure, economy, and strategic partnerships. According to a State House communique, President Ruto is poised to secure critical agreements and investments that could shape Kenya’s development […]

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Turkey’s Economic Growth Slows to Weakest Level Since Covid Crisis

Turkey’s economy has slowed to its weakest pace since the onset of the Covid-19 pandemic, highlighting the impact of the government’s aggressive monetary tightening measures aimed at combating the nation’s persistent inflation crisis. The country’s Gross Domestic Product (GDP) grew at an annual rate of just 2.5% in the second quarter of 2024, a sharp […]

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Algeria Approved to Join BRICS New Development Bank

Algeria has officially been authorized to join the BRICS New Development Bank (NDB), marking a significant milestone in the North African nation’s economic and financial integration into the global system. The announcement was made on Saturday by NDB President Dilma Rousseff during the Ninth Annual Meeting of the NDB, held in Cape Town, South Africa. […]

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China’s Interest Rate Reform: An Arduous and Long Process

China’s central bank, the People’s Bank of China (PBOC), is navigating the complex and challenging path of reforming its interest rate system to better align with global monetary practices. This shift aims to transition the country’s financial system from a state-dominated framework to one that is more market-driven, enabling credit costs to be dictated by […]

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China’s Trade with Africa Reaches 1.19 Trillion Yuan Amid Strengthening Economic Ties

China’s trade with Africa continues to flourish, demonstrating resilience and growth despite global economic challenges. In the first seven months of 2024, trade between China and Africa rose by 5.5% year-on-year, reaching 1.19 trillion yuan (approximately 166.6 billion U.S. dollars), according to the General Administration of Customs (GAC). This steady growth underscores the deepening economic […]

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Bayobab Kenya Completes Multi-Million Fibre Network Linking Mombasa to Uganda

Bayobab Kenya, part of the Bayobab Group, the digital infrastructure arm of MTN Group, has announced the successful completion of a multi-million-shilling long-distance fibre network that links Mombasa to Malaba and Busia. This new fibre optic network is set to revolutionize connectivity across Kenya, Uganda, and neighboring countries, enhancing digital infrastructure and boosting economic growth […]

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China Faces Rising Protests Amid Economic Slowdown and Real Estate Crisis

China is witnessing a significant surge in protests, with an 18% increase in dissent cases reported in the second quarter of 2024 compared to the same period last year. This rise in public discontent is largely driven by economic challenges, including a deepening real estate crisis and a sluggish economy, which have shaken the confidence […]

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Nigeria and Belgium Strengthen Agricultural Ties to Boost Trade and Finance

In a significant move to enhance agricultural production, trade, and finance, Nigeria and Belgium are set to deepen their collaboration, with a particular focus on leveraging the agricultural potential of Ibadanland. This partnership comes at a crucial time as Nigeria seeks to diversify its economy, reduce dependence on oil, and boost food security, while Belgium […]

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IMF Halts Funding to Kenya Following Withdrawal of Finance Bill 2024: US Ambassador Reveals Economic Implications

In a significant turn of events, Kenya’s financial future took a hit when the International Monetary Fund (IMF) halted its scheduled disbursement of funds after President William Ruto withdrew the contentious Finance Bill 2024. The withdrawal, a result of mounting pressure from nationwide protests, has led to a pause in the much-needed financial assistance from […]

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