The International Monetary Fund’s (IMF) recent call for the U.S. to raise taxes and delay rate cuts has ignited a crucial debate about tackling America’s fiscal challenges. While the focus is on the headline recommendations, understanding the deeper economic context and potential ramifications is essential. The Urgency of Fiscal Consolidation The IMF is sounding the […]
Zimbabwe’s financial landscape is entering a new chapter with the introduction of the Zimbabwe Gold (ZiG), the country’s latest attempt to stabilize its economy. This article explores the historical context, economic hurdles, and potential pathways for the ZiG’s success. A Legacy of Hyperinflation and Currency Woes To understand the ZiG’s prospects, it’s essential to consider […]
The Energy and Petroleum Regulatory Authority (EPRA) has implemented a Sh7 per litre increase in the road maintenance levy, raising it to Sh25 per litre from the previous Sh18. This decision follows a proposal by the Kenya Roads Board (KRB) for a 39% hike to address the funding gap in road infrastructure maintenance. Former Roads […]
Federal Reserve Chair Jerome Powell addressed the Economic Club of Washington D.C. on Monday, showing a proactive stance on interest rates given the changing economic landscape. Powell emphasized that the Fed wouldn’t wait for inflation to hit 2% before considering rate cuts, explaining the complexities involved in monetary policy. Powell highlighted the idea of “long […]
Nigeria is facing a significant economic challenge as its headline inflation rate surged to a new high of 34.19% in June 2024, up from 33.95% in May, according to the latest data from the National Bureau of Statistics (NBS). This increase of 0.24 percentage points highlights the growing financial strain exacerbated by steep rises in […]
Kenya’s exports to the Democratic Republic of Congo (DRC) have surged, making it the fastest-growing export market within the East African Community (EAC) bloc. This impressive growth comes even amidst recent diplomatic tensions between Nairobi and Kinshasa. In the first quarter of 2024, Kenya’s exports to the DRC jumped by 56.04%, reaching Ksh 8.62 billion […]
There’s promising news for emerging markets as the International Monetary Fund (IMF) reports a significant recovery in capital inflows. Last year, these inflows, excluding China, reached $110 billion, which is 0.6% of these countries’ economic output—the highest since 2018. This data comes from the IMF’s latest External Sector Report, which looks at currency movements, capital […]
Governor Yemi Cardoso of the Central Bank of Nigeria (CBN) recently highlighted the significant impact of the bank’s ongoing economic reforms during the Business Day CEO Forum 2024. Cardoso emphasized that these measures have resulted in a noteworthy 50% reduction in month-on-month inflation between February and May. Speaking at the forum, Cardoso underscored the pivotal […]
Kenyan President William Ruto has taken decisive action in response to mounting public unrest and economic challenges by dismissing all Cabinet ministers and the Attorney General. The move, announced on Thursday, follows weeks of violent protests triggered by proposed tax hikes outlined in the Finance Bill 2024, a key component of Kenya’s agreement with the […]
The UK government has announced a bold plan to achieve the highest per-capita economic growth among G7 nations for two years in a row, aiming to reverse its recent economic struggles. If successful, this would mark a significant turnaround from Britain’s recent performance, where it has lagged behind other G7 countries in per-capita GDP growth. […]
Kenya has enacted sweeping cybercrime legislation that imposes penalties of up to Sh20 million ($155,000) in fines or ten years...
Amazon Web Services (AWS) experienced a massive cloud infrastructure failure on Monday that cascaded across the globe, disrupting thousands of...
South Africa's luxury retail sector is poised for exceptional growth, with projections indicating a remarkable 15% expansion by 2025, positioning...
In a significant development for East Africa's telecommunications landscape, Atlas Tower has secured substantial backing from STOA, a French infrastructure...
