Author: The Exchange

The finance bill aroused many wounds in many Kenyans, leading to protests in the capital city, Nairobi, over the burden of proposed taxes in the finance bill 2024 Azimio insists that the tax measures will substantially impact both individuals and businesses in the country. The National Assembly Committee on Finance, chaired by Molo Mp Kimani Kuria, is expected to table a report on the Bill after carrying out a public participation exercise. The protests over the Finance Bill The finance bill aroused many wounds in many Kenyans, leading to protests in the capital city, Nairobi, over the burden of proposed…

The World Bank has approved a $2.25 billion loan for Nigeria to shore up revenue and support economic reforms. $1.5 billion of the loan will help protect millions who have faced growing poverty since a year ago. $750 million, the bank said, will support tax reforms and revenue and safeguard oil revenues threatened with limited production caused by chronic theft. Nigerian President Tinubu’s economic reforms, including ending decades-long but costly fuel subsidies and unifying the multiple exchange rates have resulted in surging inflation that is at a 28-year high. Under growing pressure from citizens and workers protesting the hardship, Tinubu’s…

Tax reforms proposed in the bill have aroused concerns due to their potential to increase costs and financial burdens across the board. A positive proposal in the Bill for the housing sector is the removal of the excise duty rate on cement clinkers. Some of the Finance Bill proposals highlighted reflect the government’s attempts to promote affordability, stimulate construction, and streamline property transactions in the housing sector. The Finance Bill 2024 has become the focal point of discussions across Kenya, capturing the attention of individuals and businesses alike. This widespread interest stems from the significant and far-reaching impact the proposed…

Africa homes about 30 per cent of the world’s mineral reserves, including 40 per cent of the world’s gold, 60 per cent of its cobalt, and 80 per cent of the platinum group metals. Mineral resources are a critical source of revenue for Africa. The interest in renewable energies in the mining industry arises from the escalating energy demand within the sector. Mining in Africa faces ongoing challenges due to environmental degradation and social conflicts with local communities. Deforestation, land degradation, and air pollution are persistent issues linked to mining activities. However, effective prevention and mitigation measures can alleviate these…

USD/ZAR pair is one of the most closely followed forex pairs in the country and FX traders will be wondering how to take advantage of the changing performance of the pair over time. Traders in the country pay close attention to the pair’s performance and seek to take advantage of major short-term and long-term price fluctuations. For this reason, the use of technical indicators, and often a combination of a few indicators, can help traders more accurately gauge the direction of the price of the pair. Forex trading has long been a popular method of accumulating and safeguarding wealth in…

Smart cities are emerging as a critical solution to address the rapid urbanisation and infrastructure challenges facing African cities. Smart cities in Africa focus on infrastructure development to enhance connectivity, mobility, and accessibility. The limitations in human resources, organisational capacity, and rigid bureaucracy are significant obstacles to adapting to the demands of digital transformation and smart cities in Africa. Smart cities in Africa Smart cities are emerging as a critical solution to address the rapid urbanisation and infrastructure challenges facing African cities. Smart cities agenda in Africa strive to ensure inclusive and equitable development by addressing social inequalities and providing…

Intra-regional trade in Africa serves as the backbone of economic transformation. East African Community (EAC) member states are increasingly trading with one another and with other African countries. At the same time, they reduced their trade with other continents like Europe, Asia, and other parts of the world, shaping the intra-regional trade in Africa’s dream projected to boost commerce and livelihoods on the continent. The seven countries in the region (as of 2023) increased their trade with the rest of Africa by $584.6 million to $4.3 billion in the fourth quarter of 2023, a 14 per cent rise compared with…

Artificial Intelligence (AI) integration into various industries has sparked a wave of both anticipation and concern among employees. As AI and automation become prevalent, new job categories and roles emerge. Cultivating interpersonal skills and collaborating effectively with technology to drive innovation and achieve successful outcomes in the future workplace is key. Artificial Intelligence and automation in the business landscape Artificial Intelligence (AI) integration into various industries has sparked a wave of both anticipation and concern among employees. As Artificial Intelligence evolves, employees express growing apprehensions about its impact on job security and overall well-being.  AI and automation are revolutionising the…

This climate finance deficit presents a pressing challenge to Africa, as it directly affects the continent’s capacity to address critical climate-related issues. African governments must adopt innovative financing opportunities that blend public and private partnerships. Leaders from Africa, the Republic of Korea, and the Global Green Growth Institute (GGGI) have jointly called for more collaboration and cooperation to bridge the climate finance gap Climate finance  The climate finance gap has been a persistent topic of climate change discussions for the longest time. Despite a financing need exceeding $3 trillion by 2030, the continent receives merely about a 10th of its…

Africa has traditionally been known to have vast untapped potential, and sports are no exception. Sports tourism has gained popularity, with tourists traveling to Africa to attend sporting events or participate in sports-related activities. Sports have become a booming investment sector in Africa accompanying the continent’s high-speed transformation. Sports in Africa Sports in Africa have immense positive socio-economic and cultural results on the communities in which they are embraced.  From professionals to youth, sports impact many facets within a community through increased financial resources, camaraderie, and teaching fundamental life skills – such as working hard to achieve a goal, working…