Egypt boosts digital infrastructure with Raya Holding’s new investment
Raya Financial Investments Holding has announced a $15 million investment in the Raya Data Center (RDC) facility from business and asset manager Africa50. This funding and an additional $10 million…
World bank cuts Kenya’s growth forecast to 4.7%
The World Bank revised its economic growth forecast for Kenya this year to 4.7%, down from the previous estimate of 5.0%. This adjustment was attributed to the effects of flooding,…
Ethiopia emerges as a key player in Bitcoin mining
Ethiopia is making significant strides in the cryptocurrency world, emerging as a major hub for Bitcoin mining. Following China's 2021 ban on Bitcoin mining, numerous companies, including BitFuFu and BIT…
Energy Fuels to advance Toliara Project in Madagascar
Energy Fuels has signed a Memorandum of Understanding (MOU) with the Government of Madagascar, outlining key terms for the Toliara Project in southwestern Madagascar. This project focuses on titanium, zirconium,…
Kenyan exports to Rwanda hit 200% high
Kenya’s exports to Rwanda increased by over 240% to $121.4 million in October from $35.56 million in September.Tanzania, on the other hand, exported goods worth $57.38 million in October, down…
New PM says Mauritius economy is ‘worse than we thought’
Mauritius’ new president said the country’s economic situation was “worse than we thought” based on a recent review of the countrys public finances.Navin Ramgoolam announced the review just days after…
Reasons behind Naira’s recent appreciation against the Dollar
The Naira has been gaining rapidly against the dollar in the last few days, reaching about 8.9% increase in the last one week. The currency had been unstable since it…
KRA seeks public feedback on the newly proposed tax regulations.
The Kenya Revenue Authority (KRA) has announced the development of a set of laws aimed at improving the country’s tax system.The legislation includes the Pay As You Go Regulations, 2024;…
Naira gains value with new Electronic Forex Market Reforms
The Nigerian naira gained substantial value last week, appreciating by over 8% as the Central Bank of Nigeria (CBN) introduced the Electronic Foreign Exchange Market System (EFEMS). During the week,…
Reduced inflation, currency stabilisation leads to interest rate cut in Kenya
The Central Bank of Kenya (CBK) cut the key interest rate by 75 basis points to 11.25% at its last monetary policy meeting (MPC) for 2024. This is the third…
