The Energy and Petroleum Regulatory Authority (EPRA) has announced a significant reduction in fuel prices for March-April, offering relief to both motorists and households. Effective immediately, Super Petrol prices will decrease by KSh 7.21 per litre, while Diesel and Kerosene will see cuts of KSh 5.09 and KSh 4.49 per litre respectively. This adjustment comes […]
The International Energy Agency (IEA) unveiled a forecast indicating a notable surge in global oil demand, driven by multiple factors. One significant contributor is the escalating fuel requirements of ships, which are opting for longer and costlier routes around the southern tip of Africa to evade attacks by Yemen’s Houthi rebels in the Red Sea—a […]
Tunisia’s economic outlook brightens as recent data from the National Statistics Institute (INS) reveals a notable 24.3% reduction in the trade deficit during the first two months of 2024. The deficit, now standing at TND 1,784.1 million, shows a significant improvement compared to the same period last year. While facing challenges in trade relations with […]
The Kenyan Treasury is contemplating the introduction of a 16 percent value-added tax (VAT) on milk and bread to address concerns regarding tax disparities. Treasury Cabinet Secretary Njuguna Ndung’u highlighted the necessity of this move to realign tax policies, ensuring equitable distribution of benefits across income groups. Government studies reveal that the current zero-rated VAT […]
In recent discussions, OPEC and the International Energy Agency (IEA) have addressed crucial issues surrounding oil security and future demand projections. The IEA, renowned for advising industrialized nations, emphasized the enduring significance of oil in the global energy landscape. OPEC responded positively, underlining the pivotal role oil plays in maintaining global energy stability. Despite this […]
In a significant development for South Africa’s financial landscape, the Financial Sector Conduct Authority (FSCA) has granted operating licenses to 59 cryptocurrency businesses. This move reflects the country’s commitment to regulating the rapidly growing crypto industry while ensuring consumer protection and mitigating financial risks. The decision follows the FSCA’s classification of crypto assets as financial […]
Kenya’s recent inclusion in the Financial Action Task Force (FATF) ‘grey list’ has raised concerns among local banks, highlighting potential hurdles in compliance and international transactions. Moody’s, a leading ratings agency, warns of increased costs for Kenyan banks due to heightened scrutiny and potential loss of correspondent relationships. Notably, KCB Bank Kenya, Equity Bank (Kenya) […]
President Joe Biden has unveiled a comprehensive $7.3 trillion budget proposal, outlining a roadmap for economic revitalization and fiscal responsibility. The plan, aimed at securing a potential second term, focuses on targeted spending and tax reforms to address pressing national challenges. Key elements of Biden’s budget for the fiscal year 2025 include raising the corporate […]
The Moroccan government unveiled a significant commitment on Monday, earmarking an extensive 1 million hectares for green hydrogen projects. This strategic move, commencing with an initial phase covering 300,000 hectares, is poised to attract investors seeking sustainable ventures. Green hydrogen, produced through electrolysis using renewable energy sources, stands as a pivotal solution in the global […]
Kenya experienced a significant surge in dairy imports from Uganda, reaching Sh29 billion in the year up to June 2023. This surge, driven by increased production in Uganda and rising demand from Kenyan processors, underscores the strengthening trade ties between the two East African nations. The Uganda Dairy Development Authority reported that 83 percent of […]
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...
