Tag Archives: Economy

24 June 21

East African Countries Unveil Optimistic Budgets as They Recover from an Economic Slump

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
Read More

cat
11 June 21

East Africa’s Top Banks Weather the Storm to Post Impressive Results

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
Read More

cat
18 May 21

Kenya’s Debt Surpasses 65% of GDP, analysts expect long-term Economic Growth

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
Read More

cat
22 April 21

Tax hikes and rising fuel prices bite East Africans as Covid-19 lockdown persists

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
Read More

cat
11 April 21

Tanzania, Uganda sign oil pipeline project deal

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.

cat
21 January 20

Djibouti rejects court ruling over handing terminal to DP World

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.

cat
30 December 19

Ethiopia sets $200,000 minimum spend for foreign investors

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
Read More

cat
18 October 19

Burundi: More than 40 arrested in currency crackdown

More than 40 people in Burundi have been arrested as part of a government campaign targeting black-market currency trading.

cat
17 October 19

World Bank orders Tanzania to pay $185m to Standard Chartered

A World Bank arbitration court has ordered Tanzania to pay $185 million to Standard Chartered over the breach of an energy contract.

cat
02 October 19

South Sudan launches first mobile money service

Technology firms in South Sudan have launched the country’s first mobile money service.

cat
Search
Newsletter

Follow me on Twitter