Pakistan’s rupee sinks as uncertainties over IMF bailout loom

Pakistan’s rupee is poised for its biggest monthly decline in more than two years as deteriorating finances and uncertainty over the International Monetary Fund’s bailout plan weigh on the currency. The rupee has declined about 7% in May, the steepest drop since March 2020, as the country negotiates a bailout package with the IMF...

Kenya’s debt repayments to China shoot to Sh73.5 billion

Kenya’s debt repayments towards China-funded infrastructure projects have more than doubled to a record Sh73.48 billion this financial year on the back of increased clearance of principal sums after the grace period lapsed. Expenditure data published this week by the Treasury shows the amount repaid to Chinese lenders has surged 135.15 percent compared with...

The East African Business Council urges EAC to harmonize domestic taxes

The East African Business Council (EABC) CEO John Bosco Kalisa called on the EAC member states to harmonize domestic tax regimes and Proposed measures for 2022/23 Budgets. Mr. Kalisa said the Treaty for the establishment of the East African Community obliges the Partner States to harmonize their tax policies with a view of removing...

EAC hits $2.6 billion worth of exports to European Union

The East African Business Council (EABC) this week announced that East African countries export to the European Union hit $2.6 billion in 2020 despite the challenges the region faced during the covid-19 pandemic. The CEO of the EABC John Bosco Kalisa during a meeting with the ambassador of the European Union (EU) to Tanzania...

Kenya’s expressway charges increases by 16 percent

Kenyans will pay more to use the new Expressway covering a stretch of 26 kilometers from Jomo Kenyatta Airport to Westlands with an extension on both sides, after the rates were adjusted up by 16 per cent in what is attributed to the dollar exchange. The modern road was put up at the cost of Sh88 billion...

It’s not just Russia – China’s also contributing to higher inflation worldwide, report says

Russia is guilty of creating a food security crisis and higher energy prices through its war with Ukraine, but China has — under the radar — also taken actions in three areas that are exacerbating inflation worldwide, said the Peterson Institute for International Economics. “Russia’s war in Ukraine has taken a shocking toll on the region,” wrote PIIE...

In Burundi not all celebrated Labor Day

The first of May every year is celebrated to pay tribute to workers, and Burundi Labor Day celebration will be done on Monday May 2nd according to the government’s communique. With the celebrations expected to be marked with marching and showcasing different products produced in the country by companies and individuals, this year’s celebration...

Burundi fuel hikes, transport gets cumbersome

After almost a month of fuel crisis in Burundi, the government announced on Thursday the new fuel tariff in the country making it the second time in less than a year for fuel price to increase. Gitega said that there was disruption in the importation and distribution of fuel in the country due to...

Extra funding for African economy to sustain development

During Academy Public-Private Partnership Forum (APPPF) session held in Tanzania (Arusha) early this month, The Nelson Mandela African Institution of Science and technology (NM-AIST) and The East African Business Council (EABC) asked for additional funding to help investors drive Africa’s sustainable economic development. The APPPF that was held at Gran Melia Hotel, Arusha regional...

U Talk adds Kirundi language on its Application

Euro Talk (U Talk) language learning company added Kirundi language on its long list of languages in efforts to open doors to non-Kirundi speakers to learn the language. “We are really pleased to have added Kirundi to the App which will help open up this important language to an international audience,” said Richard Howeson...
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