News

A significant reduction in the country’s debt while strengthening the shilling will also help in reducing Kenya’s inflation rate.

Credit officers in Kenya expect that in Q1 2025, the percentage of nonperforming loans for the personal and household sector will increase.

The apex bank held the MPR at 1.9% for the second time in a row, citing a stable inflation rate of 2.8%, below the 3-6% range.

All 12 members of the MPC unanimously agreed to retain the MPR rate at 27.50%, citing the need to stabilize and strengthen the economy.

Kenya’s foreign currency reserves recieves boost as 2024 tourism earnings surges by over 19% to $3.49 billion.

In a move to boost mining activities and attract higher foreign investments, Zambia has removed its 15% export tax on gemstones.

Uganda is seeking $190 million to compensate Umeme power distribution company as the end of their concession contract draws nearer.

In a move to enhance financial stability, Nigeria’s central bank orders bank directors with bad loans to step down immediately.

South Africa’s unemployment rate, one of the highest globally, falls for the second consecutive quarter as finance jobs increases.

Businesses seeking loans have been faced with high interest rates, which has influenced their decision on whether or not to take loans.

New inflation math gives Nigeria a sharp drop, but reality bites. Authorities say the rebasing was long overdue, yet businesses and consumers are still reeling from soaring costs.

As Nigeria’s central bank confirms the date for its first MPC meeting of 2025, questions remain over whether it will have access to the latest inflation data.

Kano, Nigeria targets ₦100 billion revenue in 2025 with stricter tax compliance and digital reforms, but businesses remain cautious.

Days after Fitch Ratings withdraws from assessing one of Nigeria’s biggest conglomerates, the country’s president endorses the newly launched Africa-led Credit Rating Agency.

Malawi’s worsening food crisis drove its annual inflation rate to 28.5% in January, according to the latest data from the National Statistical Office.

The Nigerian federal high court has affirmed FCCPC’s authority over competition regulation across all sectors, including telecoms and financial services.

Any increase in the USSD charge fee for bank customers must be approved by both the CBN and the NCC.

Oversubscription reveals a high level of investors’ confidence in the bonds and a positive liquidity outlook of investors in Kenya’s market.

The CBN assured Keystone bank’s customers and other stakeholders of the stability of the bank’s operations and the safety of their funds in light of the bank’s new ownership arrangement.

Building on efforts to strengthen forex reserves, Nigeria’s central bank has urged telcos to reduce their dollar dependency.