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Kenya cancels visa requirement for all visitors

Published

1 year ago

December 14, 2023

Beginning in January, travellers from all over the world will not need a visa to enter Kenya, President William Ruto announced on Tuesday.

According to Ruto, his government has created a digital platform that guarantees every guest will obtain an electronic travel authorization ahead of time, negating the need for them to apply for a visa.

“It shall no longer be necessary for any person from any corner of the globe to carry the burden of applying for a visa to come to Kenya,” he said in a speech in the capital, Nairobi, at an event to mark 60 years of independence from Britain.

“Kenya has a simple message to humanity: Welcome home!” he said.

Ruto has long advocated for visa-free travel within the African continent. Last month, he called on African leaders to accelerate the realisation of the African Continental Free Trade Area (ACfTA) agreement, adding that visa restrictions between African countries and tariffs were unnecessary hindrances to trade.

“I am very happy that we are now moving in the direction of eliminating visas among ourselves. Let me say this: as Kenyans, by the end of this year, no African would require a visa to get into Kenya”, he said.

Kenya’s tourism sector, which is a major contributor to the country’s GDP, would benefit from the visa-free policy with more patronage for its “blue economy” with vacations along the Indian Ocean coast and inland wildlife safaris.

VenturesNow

Moroccan annual inflation rises to 0.8% in November

Published

2 days ago

December 21, 2024

Ifeoluwa Dada

Morocco’s statistics office has confirmed that the country’s annual inflation rate, as determined by the consumer price index, increased from 0.7% in October to 0.8% in November.

Monthly, consumer prices decreased by 0.2% from October.

The primary driver of inflation, food costs, grew by 0.8% compared to the previous year, while non-food inflation climbed by 0.7%. Core inflation, which does not include more erratic items like food, increased 2.6% annually and 0.2% monthly.

According to the central bank, inflation is expected to average 1% this year, down from 6.1% last year.

Despite the Al-Haouz earthquake, a spike in inflation, and worldwide economic challenges, Morocco’s GDP grew by 3.4% in 2023.

A recovery in tourism, robust industrial exports, and rising private consumption—all bolstered by prudent macroeconomic policies—were the main drivers of growth.

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Nigeria’s $42bn foreign reserves enough for 9 months’ imports— Central Bank

Published

3 days ago

December 20, 2024

Ifeoluwa Dada

According to Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), the nation’s $42.01 billion in foreign reserves can cover imports of goods and services for almost nine months.

Cardoso promised Nigerians improved economic fortunes in 2025 while addressing the Senate Committee on Banking, Insurance, and Other Financial Institutions yesterday in Abuja at the presentation of the performance index report.

Cardoso stated: “External Reserves rose from $ 38.35 billion it was on September 30, 2024, to $ 42.01 billion as of December 12, 2024”.

He clarified that third-party receipts in Q3 2024 and revenues from taxes connected to crude oil were the main drivers of the rise in foreign reserves during the specified time.

“We saw remarkable improvements in our trade balance and maintained a current account surplus,” he added.

“Our external reserves level can finance over 9.09 months of import of goods and services or 13.91 months only, higher than the international benchmark of 3.0 months and a robust buffer against shocks”.

On cash shortage, the CBN boss reiterated the N150 million fine against any branch of banks caught illegally distributing new Naira notes to currency hawkers and unscrupulous elements and said the Nigerian economy will improve in 2025 through policies and measures.

He predicted a stronger economic future: “Despite our economy’s challenges, there are clear reasons for optimism.

“The gradual stabilization of the forex market, ongoing banking sector recapitalization, and positive growth trends in key sectors, especially the services sector, indicate a path toward recovery and stability.”