Latest stories tagged “economic growth”
The Tanzanian government has reiterated its support for the cooperative sector as a vital component of the country's economic transformation. During the International Day of Cooperatives celebrations in Dodoma, officials pledged to implement reforms to enhance governance, expand digital services, and improve access to affordable financing for cooperatives.
According to the CPPE, the Nigerian economy is expected to experience stronger growth in the second half of 2026. However, the organization cautions that increasing political activities related to the 2027 elections may pose risks to inflation, necessary reforms, and overall economic stability.
Kenya is set to transform its energy sector with the planned development of its first nuclear power plant, which is part of the country's long-term electricity generation strategy. The project aims to enhance energy security, support industrial growth, and improve the reliability of power supply, according to Sharp Daily.
The Tanzania Telecommunications Company Limited (TTCL) has announced plans to enhance communication services by expanding digital services and investing in modern technologies, aiming to contribute to the growth of the digital economy. TTCL's Director General, Moremi Marwa, attributed recent successes to operational and business improvements that have led to increased revenue and enhanced service delivery.
The World Bank has identified several challenges facing Uganda's construction sector, including weak regulation, insufficient political commitment, a lack of skilled labor, and bureaucratic procurement processes. These issues are hindering the sector's potential to create jobs and stimulate economic growth, despite its contribution of 12 to 17 percent to the country's Gross Domestic Product (GDP).
President Bola Tinubu has initiated the construction of the Dikwa–Gamboru Ngala Road, spanning 49.55 kilometers, and the Bama–Banki Road, covering 49.15 kilometers. He emphasized the importance of these highways for economic growth, regional integration, and national security, noting that they are vital for the North-East and serve as gateways to neighboring African countries.
Investors are optimistic that resilient economic growth, increased spending on artificial intelligence, and stronger corporate earnings will counterbalance challenges such as rising borrowing costs, geopolitical tensions, and high market valuations, according to Moneyweb.
According to Nairametrics, Nigeria's business environment maintained an expansion status in June 2026, with a business confidence index of 104.6. However, this represents a slowdown in growth compared to the previous year, as businesses faced challenges from high operating costs, limited credit availability, and infrastructure issues.
According to TimesLIVE, Africa's economic growth is significantly dependent on the ability of small and medium-sized enterprises (SMEs) to efficiently manage financial transactions, endure economic shocks, and engage fully in the market. The development of robust financial systems is essential for these businesses to thrive and contribute to a sustainable economic transition.
The World Bank has identified Nigeria's primary fiscal challenge as weak revenue mobilisation rather than high levels of debt. Mathew Verghis, the World Bank Country Director for Nigeria, emphasized the need for the government to focus on enhancing revenue generation to foster sustainable economic growth during an interview on Channels Television.
The Kenyan government is working to modernize the cooperative movement through a new cooperative bill and increased public investment. This initiative aims to strengthen governance, protect members' savings, and enhance the sector's contribution to economic growth. Deputy President Prof. Kithure Kindiki stated that the Cooperative Bill, which is currently under consideration in Parliament, represents a significant reform effort.
Farmers and the public are encouraged to adopt the cultivation of scientifically researched fruit trees, bananas, and spices, which provide health and economic benefits. Agricultural experts highlight that improved crop varieties can boost productivity, enhance food quality, and increase household incomes, according to Daily News.
Mayor Mkhanyiseli Dudumayo of King Sabata Dalindyebo Municipal has announced his commitment to prioritizing economic growth and improving basic service delivery in the region. His focus aims to enhance the overall development and well-being of the community.
The Zanzibar Revenue Authority (ZRA) reported a revenue collection of over 1.215 trillion Tanzanian shillings in the 2025/26 financial year, marking a 41 percent increase from the previous year. This growth is attributed to improved economic activity and stronger tax administration. The ZRA achieved 96.7 percent of its revenue target of 1.257 trillion shillings during the period from July 2025 to June 2026.
Kenya has introduced a KSh1.08 trillion investment strategy aimed at transforming its agricultural sector over the next five years. The plan, known as the "National Agri-Food Systems Investment Plan" for 2026-2030, anticipates significant private sector involvement to cover nearly half of the total costs, as the government seeks to modernize food production systems and enhance productivity in the sector.
For decades, poor road quality in Tanzania hindered access to markets for farmers, healthcare for patients, and increased transport costs for businesses. However, recent improvements in road infrastructure are transforming this situation, facilitating better connectivity and economic activity across the country, according to Daily News.
According to the PwC Africa Family Business Survey 2025, family businesses in Africa are experiencing strong growth and resilience despite facing economic uncertainty, regulatory changes, and geopolitical pressures. The survey included 79 family businesses from East, West, and Southern Africa, revealing that 66 percent of the respondents achieved single-digit growth.
According to Captain Ladi Olubowale, the former President of the Shipowners Association, Nigerian seafarers are essential national assets that play a critical role in the country's economic growth. He emphasizes their importance in enhancing the maritime sector and contributing to overall development.
According to Punch, an adviser to Lagos Governor Sanwo-Olu has emphasized that Nigeria's clean cooking initiative has the potential to enhance economic growth, generate employment opportunities, and improve public health. The initiative aims to promote cleaner cooking methods across the country.
The Federal Government has launched a 505kW solar mini-grid in Epe, Lagos, with plans for an additional 5MW expansion aimed at enhancing electricity access and supporting economic growth.
The World Bank has identified several challenges facing Uganda's construction sector, including weak regulation, insufficient political commitment, a lack of skilled labor, and bureaucratic procurement processes. These issues are hindering the sector's potential to create jobs and stimulate economic growth, despite its contribution of 12 to 17 percent to the country's Gross Domestic Product (GDP).
According to Nairametrics, Nigeria's business environment maintained an expansion status in June 2026, with a business confidence index of 104.6. However, this represents a slowdown in growth compared to the previous year, as businesses faced challenges from high operating costs, limited credit availability, and infrastructure issues.
The World Bank has identified Nigeria's primary fiscal challenge as weak revenue mobilisation rather than high levels of debt. Mathew Verghis, the World Bank Country Director for Nigeria, emphasized the need for the government to focus on enhancing revenue generation to foster sustainable economic growth during an interview on Channels Television.