East African countries have tabled their budget allocation as they prepare for uncertain economic times . However, the budgetary estimates paint an optimistic future buttressed by tax waivers and economic incentives. In uncertain times, the countries have put in place
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
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
Tanzania and Uganda on Sunday signed the East African Crude Oil Pipeline project agreement that will build a 1,440 km crude oil pipeline will be constructed from Uganda’s Albertine region to the seaport of Tanga in Tanzania.
Djibouti has publicly rejected the ruling of a UK court that requires the country to hand back control of a container terminal to Dubai-based port operator DP World.
Ethiopia has set a minimum threshold of $200,000 for foreigners looking to invest in local businesses and infrastructure projects. The move comes as part of the East African nation’s privatisation plans for the year ahead, part of which welcomes foreign
More than 40 people in Burundi have been arrested as part of a government campaign targeting black-market currency trading.
A World Bank arbitration court has ordered Tanzania to pay $185 million to Standard Chartered over the breach of an energy contract.
Technology firms in South Sudan have launched the country’s first mobile money service.