Category: Business

Somalia reached the decision point for IMF debt relief under the Heavily Indebted Poor Countries (HIPC) Initiative in March 2020, which saw its debt stock reduce to $3.7 billion from the $5.2 billion it had accumulated by December 2018.

In the latest price review on Tuesday, the Energy and Petroleum Regulatory Authority (Epra) said the prices of diesel and kerosene will remain unchanged at Ksh162 ($1.25) and Ksh145.94 ($1.12) per litre respectively, supported by subsidies.

This has seen its capital, Kampala’s efforts to exit the global grey list over the past three years fail.

<p class="align--justify">The regional bloc, during its Council of Ministers Ordinary meeting held in February, made four new proposals to the Joe Biden administration to expand Agoa and make it more effective should the US Congress hasten its renewal before the 2025 expiry date.</p>

KRA collected only $7.8 billion (Ksh999 billion) in the first half of this financial year of the total $20.1 billion (KSh2.57 trillion) needed for the entire year, meaning that the agency will need to almost double its revenue yields in the remaining months to meet...

President Museveni was hosted at the Union Buildings in Pretoria on Tuesday, where the two leaders held talks on political, economic, and regional peace in Ethiopia, the Democratic Republic of Congo and Western Sahara. They also discussed the Africa Continental Free Trade Area (AfCFTA) and...

"We have realised that Tanzania’s growth is tied to the growth of these key economic sectors, and we want to be part of that growth. NCBA Bank is well-positioned to facilitate the growth of businesses across the East and West Africa,” said Mr John Gachora,...

The activists had accused French oil major TotalEnergies, the lead investor in the $5 billion Eacop, of doing little to protect the environment and people.

The move signals conclusion of the AfCFTA Phases I and II protocols that provide a legal basis for the start of trading and gives members the greenlight to domesticate the protocols.

IMF Resident Representative for Kenya Tobias Rasmussen told The East African that high prices of essential goods burdened households across the world and suggested that Kenya needed to cushion those in greatest need while keeping the budget deficit in check.