That ended a prolonged policy tightening cycle that commenced in 2021 and lifted the benchmark from 13.5% to a 30% peak.

The new post will be opened at Tanzania’s Kyerwa district in Kagera Region to provide a second passage for people and goods and reduce pressure on the Rusumo border post.

In 2023, 62 Kenyan start-ups raised an estimated $673.78 million from local and international investors.

The wealthy Gulf states are piling in both through its government and private sector.

The fuel price hikes are expected to further affect consumer purchasing power and inflation rates.

McAndrew, the founder of the research and consulting firm Arts Economics, says the 2023 art market was in many respects the opposite of the year prior.

On Friday, the currency traded at 20,389 per greenback, reflecting cumulative losses of 70% since the start of the year.

IMF spokesperson, Julie Kozack, last month, had said the fund would send a mission to the Horn of Africa nation to discuss its request for a loan programme

Georgieva said Ghana had to strike a fair deal or else risk facing a scenario akin to Zambia.

A statement on the Bank of Egypt’s website revealed that the next scheduled Monetary Policy Committee meeting is set for May 23.