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The Bank of Uganda (BoU) has decided to maintain its Central Bank Rate at 9.75% during its Monday meeting. This rate has been consistent since October 2024. Inflation and Monetary Policy BoU Governor Michael Atingi-Ego stated that the current policy remains suitable for supporting economic activity while keeping inflation near the bank’s target of 5% […]
The Research-to-Commercialization (R2C) Programme in Kenya has shown that institutional reform is crucial for translating research into market solutions and fostering innovation-led growth. The initiative, running from 2022 to 2025, is a collaboration between the Kenya National Innovation Agency, Viktoria Ventures, and the UK Foreign, Commonwealth & Development Office (FCDO). The R2C Programme has mobilized […]
Absa executives recently concluded a three-day visit to Kenya, engaging with regulators and private sector representatives. The South African lender is exploring potential acquisition opportunities within the country as the banking sector undergoes consolidation. Group CEO Kenny Fihla and Group Executive for Africa Regions Charles Russon were present during the visit. The trip reflects Absa’s […]
Kenya has launched the Electronic Government Procurement (eGP) System, intended to modernize public procurement processes. The system aims to increase transparency and ensure efficient use of public funds. Principal Secretary for Public Investments and Assets Management, Cyrell Odede Wagunda, announced the rollout at the Kenya National Chamber of Commerce and Industry (KNCCI) Annual General Meeting. […]
Weak climate targets from UK banks put them at risk of missing out on the “enormous opportunity” of Africa’s renewable energy revolution, financial experts have told The Independent. Rapidly falling costs for solar, wind, and battery technologies have accelerated the decarbonization of electricity systems worldwide, extending to Africa, a region that has historically struggled to […]
Family remittances play a crucial role in supporting millions of families across Africa, often representing the difference between survival and destitution. The International Day of Family Remittances, observed annually on June 16th, highlights the importance of these transfers and the challenges that need to be addressed to maximize their benefits. Remittances in Africa: A Vital […]
Recent year-end job data from the Bureau of Labor Statistics has prompted discussions regarding a potential white-collar slump or hiring recession. A new predictive model from Toptal, a global staffing consultancy, suggests possible improvements in the U.S. labor market ahead. U.S. Job Market Trends Job growth across the entire U.S. market has been declining at […]
Kenya’s economy is projected to strengthen in 2026, with growth expected to fall between 4.9 and 5.2 percent. This forecast was presented by the Kenya Private Sector Alliance (KEPSA) in collaboration with the Nairobi Securities Exchange (NSE) and KPMG at the 2026 Economic Outlook Forum. The projection indicates a moderating recovery following slower expansion in […]
A recent executive order has initiated the dismantling of the Minority Business Development Agency (MBDA), a move that has drawn concern regarding its potential impact on minority economic advancement. This decision threatens decades of progress in supporting minority entrepreneurship and access to economic opportunity. Since its establishment, the MBDA has served as a resource for […]
The annual “BZB Shop Til Ya Drop” showcase, held at Shiloh Baptist Church Family Life Center in Northwest D.C., provides a platform for Black artisans and entrepreneurs to connect with consumers and bolster their businesses. The event emphasizes cooperative economic principles and aims to foster longevity for Black-owned enterprises. Washington, D.C. has a significant concentration […]