The Africa Climate Summit, a landmark gathering of leaders from across the continent, concluded with a resounding declaration of intent to combat climate change and drive sustainable growth. At least 17 heads of state were individually present, with others sending representatives, as they collectively adopted the historic Nairobi Declaration. The summit, held at the Kenyatta […]
Economists are offering varying perspectives on the U.S. economy’s trajectory, with some anticipating a “soft landing” after two years of elevated inflation, while others are concerned about the potential for a more challenging downturn. Goldman Sachs’ Optimistic View Goldman Sachs, known for its economic insights, has recently revised its forecast, reducing the likelihood of a […]
As the urgency of climate change grows, African nations aim for a bigger share of the $2-billion carbon credit market, projected to expand fivefold by 2030. Currently, Africa contributes just 11% of global carbon offsets despite its vast carbon-absorbing ecosystems. Kenyan President William Ruto, hosting the Africa Climate Summit, sees Africa’s carbon sinks as an […]
In a bold move, Nigeria, the most populous country in Africa, is set to participate in the upcoming G20 summit in New Delhi, signaling its keen interest in the global stage. Furthermore, the West African nation is contemplating submitting an application to become a member of this exclusive group of influential nations. President Bola Ahmed […]
In a significant development, global oil prices have surged by 25% since late June due to strategic supply cuts, raising important questions about the future trajectory of the market. Brent International (BZ=F) recorded an impressive closing price of $90.04 per barrel, marking its highest level since November. Simultaneously, West Texas Intermediate (CL=F) futures settled at […]
Sugarcane stakeholders hailing from the Nyando sugar belt have vehemently rejected the national government’s proposal to merge Chemelil and Muhoroni sugar companies into a single entity as part of sweeping reforms within the sugar sector. In a decisive stand taken prior to their appearance before the National Assembly committees on finances, national planning, agriculture, and […]
In a sweeping proposal, President William Ruto has introduced a plan to require every Kenyan household to allocate 2.75 percent of its income towards a new social healthcare fund. This initiative aims to revamp the healthcare system and provide a stable source of funding for the government. However, it will impact the monthly incomes of […]
Chancellor Jeremy Hunt expressed confidence that his strategy to combat rising inflation is yielding results and will soon relieve financial pressure on UK households. Hunt acknowledged the ongoing financial challenges faced by many households in the country, emphasizing the importance of sticking to the plan for reducing inflation. While the Bank of England initially predicted […]
In response to a significant revenue shortfall, South Africa’s National Treasury has unveiled a series of cost-cutting measures aimed at optimizing government expenditure. According to Reuters, these measures, articulated in a letter directed to national departments, provinces, and public entities, signify a proactive approach to addressing the country’s economic challenges. Among the key initiatives is […]
As the clock ticks closer to September 1, the business landscape braces for the impact of the second round of taxes introduced through the much-debated Finance Act 2023. The ripple effects of these new measures are set to reverberate across various sectors, including cement, steel, paper, digital and creative industries, and entertainment. Digital Assets Tax […]
As Kenya’s Sh301 billion International Monetary Fund (IMF) programme nears expiration in April, the Kenya Kwanza government is actively exploring...
In a significant monetary policy shift, the Reserve Bank of India (RBI) has cut its key repo rate for the...
The Reserve Bank of Zimbabwe (RBZ) has opted to maintain its key interest rate at 35%, signaling a commitment to...
In a groundbreaking move set to transform Kenya’s transportation infrastructure, American asset management firm Everstrong Capital has partnered with CPF...