High Deposits Drive KCB Group’s Net Profit to Sh45.8bn in Q3
KCB Group PLC recorded Sh45.8 billion in profit after tax for the nine months to September 2024, driven by sustained revenue growth. This is a...
Category : ECONOMY
Cocoa Prices Surge Amid West African Crop Worries
Cocoa prices today are climbing, with London cocoa sharply higher at a 4-month high. Cocoa is rallying today on concern about cocoa crop production...
Australian Mining Company Agrees to Pay Mali Junta $160M Following CEO, Employees’ Detention
DAKAR, Senegal – Australia’s Resolute Mining said Monday it would pay $160 million to Mali’s ruling junta to resolve a tax dispute, more than a...
Russia, Algeria strongest to increase share in EU gas supplies in 2024
In the first eight months of this year, the European Union reduced gas imports by 1.7-fold to €49.2 billion. This comes against a backdrop of...
G4S Kenya to Lay Off 400 Workers Amid Economic Challenges
G4S Kenya has announced that it will be laying off 400 employees due to challenging economic conditions. The private security company, which is part of...
Alibaba, JD Report Singles Day Highs Despite China’s Economic Slowdown
China’s biggest ecommerce platforms issued a welter of numbers showing robust growth during the country’s biggest online shopping event of the year, belying concerns about...
Africa’s Debt Premium Drops Amid Speculation of Trump White House Comeback
The premium on African sovereign debt over US Treasuries has dropped to a five-year low, signaling investor confidence in certain high-yield bonds even as concerns...
Electricity Exports Surge by 57%: A Boost to the Energy Sector and Economic Growth
Electricity exports have witnessed an impressive 57% increase this year, marking a significant milestone in the energy sector. This surge not only reflects the strengthening...
Nigeria’s budget cycle: Prioritising service over rent-seeking
As Nigeria braces for its upcoming budget cycle, a familiar concern resurfaces: will public service prioritise national progress or fall back into rent-seeking behaviours that...
ECOWAS Aviation Ministers to Tackle High Air Transport Costs with Unified Reforms in Lomé
ECOWAS is gearing up to host a key series of meetings from November 5-8, 2024, in Lomé, Togo, bringing together aviation ministers, DGs of Civil...
Russia Delays Delivery of 500,000 Tons of Wheat to Egypt
Delays in the supply of wheat from Russia to the state customer of Egypt (GASC) raise doubts about the reliability of Russian suppliers. GASC recently...
Chinese Steel Plant in Zimbabwe: A Catalyst for Economic Growth and Job Creation
Zimbabwe is aiming to be home to Africa’s largest steel plant, but disputes over the project continue even as it ramps up production. Over the...
IMF Approves Ksh 78.3 Billion Loan to Kenya to Support Economic Stability and Climate Resilience
The International Monetary Fund (IMF) has approved a significant loan package for Kenya, amounting to approximately Ksh 78.3 billion (USD $551.4 million). This funding comes...
Vaal Dam Water Level Drops to 34.8%, Raising Concerns Over Water Security
The Vaal Dam, one of South Africa’s largest and most crucial water reservoirs, has dropped to 34.8% of its capacity, sparking concerns over water security...
Zimbabwe-China Trade Hits $3 Billion, Boosted by Strategic Partnership and New Agricultural Exports
Zimbabwe-China trade relations have reached a historic milestone, surpassing $3 billion in bilateral trade, marking a nearly 30% increase from the previous year. This boost...
Experts Warn That Regulatory Constraints Are Hindering Ethiopia’s Economic Growth Amidst Reform Efforts
Experts have raised concerns that existing laws and regulations in Ethiopia are obstructing the country’s pursuit of economic growth. Among the regulations cited are those...
EMMA LOUISE POWELL: Prioritizing South Africa’s National Interests A Review of the BRICS Summit
As SA enters the era of coalition politics, the government of national unity (GNU) must unite in developing a strategic, coherent and consistent foreign policy...
Oil Gas Exploration in Somalia Game Changer Energy Minister
Turkish research vessel Oruç Reis last week arrived in Somalia to conduct seismic surveys for oil and natural gas. Speaking at the welcoming ceremony at...
China’s Next-Gen Factory Owners Turn to Digital Solutions to Overcome Economic Challenges
China’s second-generation factory owners are adapting to significant economic challenges by embracing digital solutions to modernize and sustain their family businesses. As traditional manufacturing faces...
South Sudan Farmers Face Crippling Fuel Shortages and Bird Infestations Amid Economic Crisis
JUBA Farmers in South Sudan’s Ruweng Administrative Area (RAA) are facing a double whammy of fuel shortages and destructive bird attacks, threatening their livelihoods and...