Business / Economics

Kenya’s shilling is gaining value, but don’t expect it to last – expert

By Odongo Kodongo, University of the Witwatersrand Shortly after Kenya’s 2022 elections, the shilling depreciated rapidly against the US dollar – the country’s main currency for international transactions – fuelling a wave of political discontent. More than a year later, the Central Bank of Kenya, taking its cue from the International Monetary Fund, said that the run on the shilling was a market correction for a […]

April 17, 2024 10

Africa

African countries start business classification to shore up green investment

By Conrad Onyango, bird story agency Kenya has joined South Africa and Rwanda in offering a "green investment" handbook as African countries race to close a huge climate financing gap. The draft Kenya Green Finance Taxonomy (KGFT), published by the Central Bank of Kenya (CBK) in mid-April, is expected to help position the country for green funds and make the investment climate more attractive. Targeting banks, […]

April 17, 2024 19

Africa

Impact of AI, hybrid work top HR challenges in 2024

Navigating the impact of artificial intelligence and hybrid work models will be the top challenges affecting the role of HR professionals in 2024. These were the main points emerging from the HR Connect event held today, hosted by SAP at the Maslow Hotel in Johannesburg. Kholiwe Makhohliso, Managing Director for Southern Africa at SAP, says business and HR leaders are grappling with the complexities of a new […]

April 17, 2024 10

Business / Economics

International Monetary Fund predicts stronger US growth in 2024

The U.S economy is expected to help boost global growth over the coming year, according to the latest International Monetary Fund forecast. The stronger-than-expected US growth comes at a time when inflation remains high. Nick Harper reports from Washington.

April 17, 2024 7

Business / Economics

17 April 2024 Morning Biz News: Exploring the Latest in Business News

As the global economic landscape continues to evolve, let's delve into the latest developments shaping the world of business and finance. Galp Energia Unveils Extensive Exploration Campaign Galp Energia, a key player in the energy sector, has set forth ambitious plans for a comprehensive exploration campaign spanning three years within Petroleum Exploration Licence 83. This initiative entails the drilling of 10 exploration and appraisal wells, coupled with extensive flow testing. […]

April 17, 2024 5

Business / Economics

Independent Researcher Offers Key Insights on Bank of Namibia’s Repo Rate Decision

In an interview with our news team, Independent business and economic researcher Josef Kefas Sheehama provided valuable insights into the factors influencing the Bank of Namibia's decision regarding the repo rate. The Bank of Namibia will announce repo rate today. The previous interest rate decision was to keep the repo rate unchanged at 7.75 percent.

April 17, 2024 55

Africa

Africa’s millionaire population expected to increase by 65%

There is USD 2.5 trillion in total investable wealth currently held on the African continent, and its millionaire population is set to rise by 65% over the next 10 years. This is according to the 2024 Africa Wealth Report, published by Henley & Partners and wealth intelligence company New World Wealth. In its 9th edition, the latest report reveals that there are currently 135,200 high-net-worth individuals with a liquid investable […]

April 16, 2024 4

Africa

Ethiopia looks to the Singapore model to lure startups in sweeping new reforms

By Seth Onyango, bird story agency Ethiopia has unveiled sweeping reforms to support a burgeoning startup industry and turn the country into a leading incubator of entrepreneurs. Notable changes include slashing a 30% capital-gains tax on the transfer and issuance of shares, according to Brook Taye, Director-General of the Ethiopian Capital Market Authority. The move, combined with an allowance for startups to retain all foreign currency […]

April 16, 2024 8

Africa

bird TenX: African countries with the highest number of EVs

By Bonface Orucho, bird story agency Despite recent headwinds, a growing shift from gasoline-powered vehicles to electric vehicles continues apace in Africa. Last year, the global sale of fully electric and plug-in hybrid vehicles rose by 31% compared to 2022, according to a 2024 report by market research firm Rho Motion. Despite the high cost of conversion and a lack of adequate enabling infrastructure such as […]

April 16, 2024 55