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- Uganda’s quiet bid to challenge Kenya in horticulture exports
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The global financial landscape has undergone a remarkable transformation in recent times. Remarkably, the issue of the de-dollarization of international trade is slowly but steadily gathering momentum. A rising trend toward de-dollarization is challenging the longstanding supremacy of the United States in the international financial system. As the dominant global reserve currency, the US dollar remains pivotal in international trade, investment, and financial transactions.
Trade between China and Tanzania grew by 23.7% year-on-year, reaching US$8.31 billion in 2022 China pledges increased cooperation under its…
The prospect of establishing a common currency will be a top agenda at the upcoming BRICS Summit in Durban, South…
Tanzania inflation hits five year high Zanzibar bans export of food commodoties ahead of Holy Month China reopens market, expected…
The change in patterns of trade triggered by these two major events is now forcing the MNCs to go back…
The Central Bank of Kenya (CBK) has retained the base lending rate in the country at 8.75 per cent, citing…
China reopening after lifting restrictions under the zero-Covid-policy 2023 to be a tough recovery year for Beijing President Xi Jinping…
Xi Jinping has elevated the China-Africa friendship to its most significant level since Mao Zedong’s reign. With Xi getting a third five-year term and perhaps staying in power even longer, those relations will strengthen further. Thus, Africa will remain pivotal in China’s plans for global economic control.
The diplomatic Somalia-China relations have played a crucial role in the Chinese government’s development of over 80 infrastructure projects in Somalia, including the national stadium, Banadir hospital, and north-south highway.
Kenya is one of 23 African nations at risk of debt distress. The major causes of debt distress include poor fiscal management and macroeconomic frameworks to sustain growth, a shift in debt structure toward more costly financing sources, and excessive government expenditure levels.
Kenya’s debt was at about 70 per cent of GDP in 2021, up from 50 per cent in 2015. China is Kenya’s biggest bilateral creditor. It accounts for 67 per cent of the bilateral debt (primarily for infrastructure projects), an increase from 13 per cent in 2011.