East Africa’s top banks have defied the tough economic crisis of the pandemic to report a rise in profits. The resilience of top banks has been tested by mobile money transfer and rising defaults in loan repayments. Moreover, sluggish economic
The International Monetary Fund in April approved a $2.34 billion three-year financing package to Kenya. The fund projects that Kenya will borrow upwards of $12.4 billion abroad by 2022. These funds will support Covid-19 prevention efforts and reduce the country’s
Tanzania’s newly-appointed president, Samia Suluhu Hassan, announced on Saturday that the government will temporarily reduce income tax in the country.
As the corona virus pandemic continues to ravage the world economy, East Africans are set to tread murky financial waters. Kenyans have been dealt with cumulative taxation in the past few years. Furthermore, a crippling debt pile and fuel prices
Citizens in Kenya are calling upon the International Monetary Fund (IMF) to cancel a $2.34 billion loan approved for the country.
The latest Internet Accessibility Index ranks Burundi as the country with the worst internet accessibility in the world.
Djibouti obstinacy threatens to undermine African free trade and investment While the British and European media might be preoccupied with the death rattles of Brexit, an even more momentous trade deal is unfolding in Africa. The African Continental Free Trade
Tanzania President John Magufuli has appealed to China to forgive some debt incurred by the East African nation.
US President Donald Trump has said he will remove Sudan from his country’s list of state sponsors of terror on the condition it pays $335m in compensation for the 1998 al-Qaeda bombing of US embassies in East Africa.
Lawmakers in Kenya are pushing to reduce the operating costs of a Chinese-built railway, calling for a renegotiation of the Chinese loan terms used to finance its construction.