The African Commission on Human and Peoples’ Rights (ACHPR) has expressed deep concerns over Kenya’s proposed finance bill, citing potential threats to socio-economic stability and privacy rights. In a statement issued by Hon Commissioner Solomon Ayele Derso, the ACHPR emphasized the need for extensive public consultation regarding the government’s introduction of new taxes. This move […]
GENEVA: The United Nations Conference on Trade and Development (UNCTAD) released its latest World Investment Report on June 20, revealing a 2% decrease in global foreign direct investment (FDI) to $1.3 trillion in 2023. The report highlights the influence of a slowing global economy and increasing geopolitical tensions on investment flows. Key Findings Global FDI […]
Ghana has reached a significant agreement in principle with its bondholders to restructure $13 billion of its international debt, sources told Reuters on Thursday. This agreement follows a recent accord with the country’s official creditors, providing a crucial step towards stabilizing Ghana’s financial situation. The restructuring deal will require bondholders to accept a reduction in […]
During the second Aquatic Resources and Blue Economy Conference (ARBEC) in Kisumu, stakeholders emphasized the crucial role of Kenya’s blue economy sector in driving economic growth. Deputy Governor Dr. Mathews Owili highlighted the sector’s potential, noting current disparities in contribution to GDP between Nairobi and riparian counties like Kisumu and Mombasa. Dr. Owili acknowledged recent […]
China’s real estate market remains in a state of flux, with recent data pointing to continued struggles despite recent government interventions. According to the National Bureau of Statistics (NBS), prices for new homes in 70 major cities dropped by 0.7% in May compared to April, marking the largest monthly decline in nearly a decade. This […]
South Africa’s decision to increase tariffs on clothing imports from Chinese e-commerce giants Shein and Temu has sparked debate over its economic impact and implications for consumers. Set to take effect next month, the tariff hike from 20% to 60% aims to level the playing field for domestic retailers, addressing concerns of unfair competition enabled […]
In response to widespread public outcry, a Kenyan parliamentary panel has advised against implementing several proposed taxes included in the government’s funding bill for the 2024/25 fiscal year. These recommendations come amid growing protests in the capital. The proposed tax changes are part of President William Ruto’s efforts to increase revenue and reduce the country’s […]
The U.K. economy has reached a pivotal moment as inflation eased to the Bank of England’s targeted 2.0% in May, according to the latest Office for National Statistics (ONS) report. This milestone, coming just before the upcoming national elections in July, underscores a period of relative stability. In May, headline inflation retreated from 2.3% in […]
Africa will need $240 billion annually by 2030 to address its growing energy demands, according to a recent report by the International Energy Agency (IEA). The report, titled “Clean Energy Investment for Development in Africa,” underscores the urgent necessity of substantial investment in clean energy projects to alleviate the continent’s energy crisis. Current Energy Landscape […]
President William Ruto’s administration has unveiled the budget for the 2024-25 fiscal year, signaling strategic shifts in key sectors crucial to Kenya’s economy and societal well-being. Education Investments The administration has prioritized education with an increased budget of Sh656.6 billion, aimed at fostering skills development and upgrading junior secondary school teachers to permanent status. However, […]
In a significant milestone for water security and community development in Kitui County, more than 2,500 residents have gained access...
Indian exports to the United States have experienced a dramatic downturn, plummeting by 37.5 percent over a four-month period following...
In a significant move to strengthen bilateral development cooperation, the Abu Dhabi Fund for Development (ADFD) has formalized a landmark...
The International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, has committed a comprehensive $62.5...
