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The anticipated investments, expected over the next two years, will bring Egypt’s total FDI from Kuwait to $27 billion.
While high-yield certificates had played a crucial role in stabilising Egypt’s monetary environment, the recent drop in inflationary pressures has prompted a policy shift towards lower rates and more growth-focused measures.
The reversal follows weeks of tension between the African National Congress (ANC) and its main coalition partner, the Democratic Alliance (DA), which opposed the VAT hike both in parliament and in court.
The Central Bank of Kenya is moving to replace its risk-based lending model with a benchmark-based system anchored to the central bank rate, aiming to improve transparency and rate transmission.
Notably, digital banking charges made up the largest portion of earnings from fees and commissions for most of the reviewed banks.
The new agreement lays the groundwork for strong regional ties—one that could help cushion the continent from the ripple effects of the intensifying trade tensions between the world’s largest economies.
So far, the copper-rich nation has reached final agreements with France and Saudi Arabia, but deals with other key creditors — including its largest, China — remain unresolved.
The new focus aligns with recent calls by the World Bank for Botswana to urgently diversify its economy, unlocking sustainable growth opportunities.
Last year, electronic payment transactions soared to a record $702.6 billion, crossing the quadrillion threshold in naira and surpassing the 2023 figure by a whopping 79.6%.
The economic growth is fuelled by a rebound in tourism and construction activities, easing inflation and a declining debt burden.
The latest figures mark a turnaround in Egypt’s FDI – which stood at $10 billion in 2023 – driven by growing investor confidence, improving macroeconomic indicators, and an aggressive push for private-sector-led growth.
Egypt’s strong performance in the last fiscal year suggests growing investor confidence and capacity to meet its hefty debt obligations.
The Washington-based lender noted that despite recent fiscal slippages, bold corrective steps by the new administration have kept programme goals within reach, buoyed by strong export earnings, rising reserves and renewed commitments to fiscal discipline.
The country’s new gold regulator has also suspended the trading licences of all foreign traders, effective immediately, as it moves to centralise control of artisanal gold exports.
The fund’s latest move aligns with it’s broader goal of protecting the purchasing power of Namibian annuitants amid economic changes.
The minister’s release comes just days after the island nation’s former central bank governor Harvesh Seegolam, who was also implicated in the fraud scandal, was granted bail.
The move, which is expected to deepen Access Bank’s footprint in East Africa’s financial space, comes nearly a year after the lender first declared interest in the acquisition.
With Brent crude hovering near the sub-$60 mark—Nigeria’s fiscal break-even—concerns are mounting that sustained low prices could reopen current account deficits and heighten macroeconomic vulnerabilities.
With 60% of the fund’s pension pot tied up in government debt, retirees remain heavily exposed to the effects of the West African nation’s mounting inflationary pressures.
While global commodity markets largely determine cocoa prices, the African nation could raise export taxes on its cocoa shipments to increase revenue, pushing up costs for buyers.