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Amid a bustling Nairobi on February 5, 2025, Kenya’s Finance Minister, John Mbadi, shared insights with Reuters during a revealing interview. Nestled in the heart of the busy capital, Mbadi's gestures punctuated his anticipation of Kenya's ongoing talks with the International Monetary Fund (IMF). What do these discussions entail? And how do they shape Kenya's future? Kenya, positioned as a pivotal East African nation, is deftly navigating its fiscal landscape. Imagine a country poised at the crossroads of…

 The Somali administration has greenlit a federal budget of $1.34 billion for 2025. This represents a hefty 24.4% uptick from last year’s allocation of $1.079 billion. This financial boost stems from an uptick in local earnings and the need to tackle ongoing expenses, with homegrown revenue expected to hit $429.4 million, up 24% from $346.2 million in 2024.Taking a gander at the 2025 budgets of East African Community (EAC) nations:Kenya: $31.9 billion (up by 3.1% from 2024/25) Uganda: $19.61 billion (a whopping 36% increase)…

A glimpse of the International Monetary Fund's HQ in D.C., U.S., captured on April 8, 2019. Photo credits © REUTERS/Yuri Gripas/File Photo. Inquiries for rights, contact us. Good news from the IMF! The Ethiopian government gets a green light for the $3.4 billion aid package, with $340.7 million unlocked. The folks at the IMF board gave a thumbs-up last Friday for the initial review of the deal. This backing stems from Ethiopia's summer deal, culminating in a four-year financial arrangement. The country's journey towards…

Kenya's telecom titan, Safaricom (SCOM.NR), shared on Tuesday that it secured 15 billion shillings (around $116.73 million) from the second round of a sustainability-oriented loan procured from a coalition of local banks. This telecom heavyweight, partially owned by South Africa's Vodacom (VODJ.J) and Britain's Vodafone (VOD.L), initiated this green loan project last year, netting a comparable sum in its initial phase. The fresh funding will be funneled into various eco-friendly initiatives, notably transforming its…

Kenya’s administration is on the cusp of securing a hefty $1.5 billion loan from the United Arab Emirates at an 8.2% interest rate, aiming to address the financial shortfall plaguing the East African nation, a source in the know told Reuters. "Kenya is broadening its budget support sources," noted the insider, hinting that "the deal is practically in the bag." The finance ministry and central bank of the UAE didn't immediately respond to requests for a statement. Kenya's Finance Minister John Mbadi and top ministry…

The French Authorities and Société Générale have simply concluded an settlement to grant loans of as much as EUR 2 million (greater than FRF 1.3 billion) to small and medium-sized enterprises. Oxygen for these communities which might be going by way of tough occasions. These loans embody the Choose Africa Resilience assure. as…