Rate

Pharmaceuticals Now Included in 15% Tax Rate - A Statement from EU Leadership In a significant development, the European Union has announced that the pharmaceutical sector will now be subjected to a 15% tax rate. This decision reflects the EU's ongoing commitment to ensure fair taxation across various industries. "This move aims to create a level playing field for all sectors, fostering transparency and social responsibility among corporations," stated the EU Chief. The inclusion of pharmaceuticals in this tax…

In a significant milestone, the Monetary Policy Committee (MPC) gathered for its 300th meeting last Tuesday, a momentous occasion celebrated by the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, during a press conference in Abuja. Meetings like these often hold the weight of economic forecasts, yet they also reflect the pulse of the nation—a blend of caution and opportunity. Governor Cardoso emphasized that the committee reached a unanimous decision to maintain current policies. This choice speaks…

In a highly anticipated announcement, the European Central Bank (ECB) is expected to lower interest rates by a quarter of a percentage point later today. This decision follows the recent inflation data for eurozone countries, which revealed a price increase of just 2.2% in March—a slight decline of 0.1% from February. As the cost of living inches closer to the ECB's target of 2%, there is a clear opening for the bank to implement a rate cut. If the ECB moves forward with this reduction, the main interest rate will decrease…

Nairobi, a city humming with vitality and ambition, hosts the epicenter of Kenya's financial world—the Central Bank of Kenya. On a seemingly ordinary Tuesday, the bank's walls echoed an extraordinary announcement: the central bank decided, unexpectedly, to cut its policy rate for the fifth consecutive meeting. The decision rippled through the streets of the city, signaling a stimulus aimed squarely at revitalizing private sector lending. In an era where economic forecasts often found themselves shifting with the…

A revealing study published in The Lancet has illuminated a staggering surge in type 2 diabetes rates across sub-Saharan Africa, far beyond what was earlier anticipated. This research is not merely a collection of statistics; it highlights a troubling trend that poses significant health risks for millions. What drives this epidemic? The answer lies in a confluence of poor dietary choices, inadequate access to health care, rising obesity rates, and increasingly sedentary lifestyles. Tracking over 10,000 participants from…

In a bold move, Eskom has put forth a proposal to raise electricity tariffs by a staggering 36%, set to launch in April 2025. This ambitious plan, pending approval from the National Energy Regulator of South Africa (Nersa), includes further hikes: an 11.81% increase for the 2026/27 fiscal year, followed by another 9.10% jump in 2027/28. These proposed increases threaten to significantly tighten the grip on household budgets and overall living expenses. Reactions have been swift and severe. The Democratic Alliance (DA),…

An employee clutches some bread loaves in a Nairobi supermarket, Kenya on May 8, 2017. © Baz Ratner/Reuters File Photo Hold onto your hats because Kenya's inflation (KECPI=ECI) dipped to 3.6% in September, compared with 4.4% in the prior month, as revealed by official statistics on Wednesday. According to the Kenya National Bureau of Statistics, month-on-month inflation showed a slight uptick of 0.2% from a stagnant 0.0% the previous month. Aiming for a sweet spot, Kenya eyes an inflation rate between 2.5% and 7.5% over…