Category: Finance

Kenya's Treasury Cabinet Secretary Ukur Yatani provided parliament with an upbeat forecast of the country's economic recovery in the post-pandemic era. Yatani reaffirmed on Wednesday his earlier projection that economic growth would remain at a healthy 6% next year and the country's ballooning fiscal deficit ...

Chinese lending to developing countries has come under sharp focus since the release of several reports that have reshaped the debate. Unsurprisingly, many news reports, like the BBC’s “China: Big spender or loan shark” are ringing the alarm bells. However, I’d argue that the reports should rather prompt new ...

Many presumed that the $3 billion Sengwa coal-fired power plant project in Zimbabwe was doomed after the Industrial and Commercial Bank of China withdrew its support earlier this year as the project's largest financier. Not so, according to plant's owner RioZim that said in its half-year trading ...

Even amid the pandemic, Chinese investment overseas last year increased by 12.3% to $153.71 billion, according to a new report published last week by the Ministry of Commerce, National Bureau of Statistics, and the State Administration of Foreign Exchange. 2.8% of ...

China is increasingly turning to Multilateral Development Banks (MDBs) to pursue its geopolitical agenda and promote alternate norms of global governance, according to a new report published on Wednesday by the London-based Overseas Development Institute. The report by Chris ...

The Industrial and Commercial Bank of China (ICBC) in Hunan province launched a new cross-border China-Africa currency center on Tuesday to facilitate transactions between Chinese yuan and six African currencies including the Kenyan shilling, Nigerian naira, Botswanan pula, Ghanaian sedi, and the Zambian kwacha.

So far, shock waves from the massive implosion of the $305 billion property development group China Evergrande have not been felt abroad, but that could soon change if the crisis forces Beijing to retrench, warned a leading Peking Univesity finance professor.

Two prominent analysts at The Heritage Foundation, a conservative think tank in Washington, D.C., contend that the main U.S. development finance agency is not doing enough to "counter" China's growing influence in developing countries. Since it was re-launched in 2019, the ...

China's construction giants are knocking on the doors of development finance agencies in Europe in a bid to find new sources of funding for projects in Africa, according to a report in Global Trade Review. Until recently, Chinese ...

Although China is by far Africa's largest bilateral trading partner with two-way trade this year on track to exceed last year's $187 billion. In the January-August period, according to Vice Commerce Minister Qian Keming, China-Africa trade is up 40.5% to $139.1 billion.

Kenya’s Cabinet Secretary in the Treasury, Ukur Yatani defended the government’s recent borrowing spree and urged citizens not to worry about debt since the government has a repayment plan. “If you want fast development you have to borrow. It would take us ...

Chinese foreign direct investment in Africa increased by 8% in 2020 compared to the previous year, from $2.7 billion to $2.96 billion. Including the 2020 investments, the total Chinese FDI on the continent amounts to $47.4 billion, according to data in a new report published by the ...