Kenyans abroad are on a record-breaking money-sending spree! They funneled a whopping $1.2 billion (Ksh158 billion) back into the Kenyan economy during the first quarter of 2024. This 18.8% surge over last year is a welcome sign, likely fueled by easing inflation in developed countries where many Kenyans live and work. Breaking it down further, […]
The co-working space; a haven for freelancers, remote workers, and people who are desperately trying to avoid crippling loneliness in their pajamas. But before you waltz in with your avocado toast and questionable hygiene, let’s address the elephant in the brightly colored beanbag chair: co-working etiquette. Fashion Tips for the Digitally Nomadic: First impressions are […]
The Kenyan shilling has emerged as a surprising outperformer in Sub-Saharan Africa, experiencing a significant appreciation against major currencies in 2024. This positive development can be attributed, in part, to the strategic interventions of the Central Bank of Kenya (CBK). The CBK implemented a two-pronged approach to bolster the shilling. Firstly, it employed a series […]
Kenya’s banking sector has been in a fascinating tug-of-war lately. New accounting rules, while intended to strengthen the financial system, forced banks to confront the reality of potential loan defaults. To avoid taking a financial tumble, Kenya’s biggest banks have been busy pumping billions into their reserves. The culprit behind this capital scramble? IFRS 9, […]
South African consumers, after a year of unleashed spending in 2022 as pandemic restrictions eased, adopted a more cautious approach in 2023. Rising living costs put a strain on wallets, with groceries becoming a more prominent expense than ever before. However, there’s a potential ray of sunshine peeking through the clouds: anticipated interest rate cuts […]
A longstanding oil squabble between Kenya and Uganda has been squashed! After decades of relying on Kenyan middlemen for their oil, Uganda’s state-owned oil company, UNOC, can now import directly through Mombasa port. This agreement ends months of simmering tensions that even saw Uganda explore using Tanzania’s port facilities instead. The good news doesn’t stop […]
Nigeria’s central bank just delivered a knockout punch to inflation, unleashing a surprise 20% interest rate hike. This aggressive move marks the second major rate increase since Governor Cardoso took the reins last September, and it underscores the urgency of the situation. Nigeria is facing a brutal inflationary beast – prices are skyrocketing at over […]
Across Africa, a sprightly ensemble of economies throbs with potential: from the fertile farmlands of East Africa to the established manufacturing hubs of West Africa. The continent brims with resources and a booming entrepreneurial spirit. A crucial piece of the economic puzzle, however, is largely missing: the robust trade between African nations themselves. Intra-African trade […]
The African continent pulsates with an undeniable energy. Economies are on a tear, a young and talented generation steps into its power, and an infectious spirit of entrepreneurship crackles in the air. This electrifying vista brims with opportunity, beckoning businesses of all shapes and sizes to tap into its vast potential. But for those ready […]
Ladies and gentlemen, boys and girls, gather around, and let’s talk about the most riveting event of the century! It’s not the World Cup, the Olympics, or even the Oscars – it’s the “Joblympics” of Kenya! Yes, we’re diving headfirst into the unparalleled spectacle of youth unemployment, where the race to find a job is […]
