Johannesburg, South Africa, faces an acute water crisis, leaving its residents struggling with severe shortages. Driven by scorching temperatures and neglected infrastructure, millions find themselves in desperate need of water. Over the past two weeks, residents, including Tsholofelo Moloi, have been queuing for water, relying on municipal tanker trucks for basic supplies. Dwindling reservoirs and […]
Kenya’s maize production is on the rise, thanks to favorable weather conditions. The latest assessment by the Kenya Food Security Steering Group (KFSSG) and the Ministry of Agriculture forecasts a maize yield of 4.2 million tonnes for 2024, marking a significant increase of 15-20 percent compared to the five-year average. The improved production is a […]
China’s industrial sector saw a remarkable upturn at the start of the year, marking a positive development amidst ongoing challenges in the property market. According to recent data from the National Bureau of Statistics, industrial production surged by 7% year-on-year in January and February, surpassing economist expectations. This robust growth, the fastest in nearly two […]
Dubai – Egypt’s economic strategy for the upcoming fiscal year is marked by a commitment to addressing vital subsidies and bolstering financial stability. In its 2024/2025 state budget, the government has allocated over 125 billion Egyptian pounds ($2.66 billion) for bread subsidies and more than 147 billion pounds for petroleum products subsidies. These subsidies are […]
Kenyan Members of Parliament (MPs) led by Mbeere North MP Geoffrey Ruku are calling for a government-to-government (G-to-G) procurement model for fertilizers to address rising costs and ensure food security. The motion, currently pending in the National Assembly, aims to secure quality fertilizers at subsidized rates from surplus-producing countries. Mr. Ruku emphasized the need to […]
Saudi Arabia, the leading global oil exporter, witnessed a slight decrease in its crude oil exports for January, marking the second consecutive month of decline, according to data released by the Joint Organizations Data Initiative (JODI). In January, the Kingdom’s crude exports dipped by 0.2% to 6.297 million barrels per day (bpd), compared to 6.308 […]
In response to mounting challenges in Egypt’s sugar market, the cabinet has extended the ban on sugar exports by an additional three months. This decision, aimed at stabilizing domestic supply amidst escalating prices and shortages, reflects the government’s proactive approach to addressing pressing economic concerns. Acknowledging the severity of the situation, the government had previously […]
Recent data from the Central Bank of Kenya (CBK) underscores a notable increase in remittance inflows from Kenyans living abroad, reaching a record high of Sh52 billion last month. This represents a substantial 24.8% surge compared to the same period in the previous year, reflecting the resilience and commitment of the Kenyan diaspora amidst global […]
Fitch Ratings has increased its 2024 global GDP growth projection by 0.3 percentage points to 2.4%, reflecting a more optimistic outlook for the world economy. This revision is primarily driven by a substantial upgrade in the growth forecast for the United States, climbing from 1.2% to a robust 2.1%. While global growth remains steady at […]
The Arab Monetary Fund (AMF) has reported a significant milestone in the region’s financial markets, with the combined market capitalisation of Arab stock exchanges surpassing $4.5 trillion in February, marking a notable increase from the previous month’s $4.4 trillion. Leading this surge is the Abu Dhabi Securities Exchange, boasting a market capitalization of $775.1 billion, […]
Kenya, a vibrant East African economic hub, finds itself at a critical juncture, grappling with persistent challenges of corruption, illicit...
The United States labor market delivered a robust performance in June, with job growth surpassing economists' forecasts and the unemployment...
Africa is on the cusp of a profound digital transformation, with its data centre sector emerging as a critical backbone...
The vibrant city of Nairobi is currently hosting a pivotal event poised to redefine Africa's investment landscape: the inaugural NextFrontierAfrica...
