Economy
Kenya expects its budget deficit to decline significantly in the 2027/28 fiscal year, as the government projects improved fiscal management and stronger economic performance, according to a senior official from the Finance Ministry. Chris Kiptoo, Principal Secretary at the Finance Ministry, said the......
Morocco is reaffirming its commitment to an African-led approach to sustainable peace and development by participating in the Second Political Conference on the Peace-Security-Development Nexus, taking place on July 11–12 in Mombasa, Kenya. The gathering brings together African institutions and......
Africa faces a widening gap between climate commitments and available funding. A new policy analysis by Harrison Rehoboth Consulting, based on data from the Climate Policy Initiative, estimates that the continent needs about 2.8 trillion dollars between 2020 and 2030 to meet its Paris Agreement goals.......
Bank of Africa signaled a broader transformation in Morocco’s banking sector when it rebranded from BMCE in 2020. The change reflected more than a new corporate identity. It illustrated the growing ambition of Moroccan financial institutions to position themselves as regional banking groups capable......
The Africa Forward summit in Nairobi brought together heads of state, investors and senior officials on 11 and 12 May 2026 with a focus on accelerating concrete economic partnerships across the continent. The meeting, co-chaired by Kenya and France, placed emphasis on investment-driven cooperation in......
African leaders gathering in Kenya for the Africa Forward Summit called for major reforms to the global financial system in order to improve access to credit and encourage investment across the continent. The summit, held in Nairobi with the participation of more than 30 African heads of state and government......
French shipping giant CMA CGM has signed a strategic partnership with the government of Kenya, marking a new step in its expansion across the African continent. The agreement was announced in Nairobi during the “Africa Forward” summit, in the presence of French President Emmanuel Macron......
African business magnate Aliko Dangote is reportedly considering Kenya as the location for a large oil refinery project aimed at strengthening energy infrastructure in East Africa. According to reports, the proposed refinery could process up to 650,000 barrels of oil per day, making it one of the largest......
China has extended its duty free trade policy to all 53 African countries with which it maintains diplomatic relations, positioning itself as the first major economy to grant unilateral tariff free access across nearly the entire continent. The only exception is Eswatini, which continues to maintain......
Two months after the outbreak of war in Iran, a global energy shock is forcing millions of households in Africa and South Asia to abandon cleaner cooking fuels and return to charcoal and firewood. The surge in fuel prices has disrupted access to liquefied petroleum gas and other modern energy sources,......
A month into the U.S.-Israeli military campaign against Iran, the effective closure of the Strait of Hormuz has disrupted African fuel markets, leaving countries from Kenya to Nigeria grappling with fuel shortages, soaring prices, and emergency rationing measures that threaten to deepen poverty across......
One month into the U.S.-Israeli war against Iran, the economic shockwaves of the conflict are spreading well beyond the Middle East, pressing households and industries across three continents. Iran's effective blockade of the Strait of Hormuz, through which roughly one fifth of global oil and liquefied......
The European Bank for Reconstruction and Development cautioned Tuesday that the ongoing Middle East conflict threatens economic growth across its regions. Higher energy costs, supply chain disruptions, and tighter financial conditions pose risks. Forecasts could drop 0.4 percentage points if oil prices......
