The Ghanaian government successfully garnered GH₵4.977 billion in its most recent treasury bill auction on November 24, 2023, despite receiving bids totaling GH₵5.008 billion. The auction results, released by the Bank of Ghana, revealed persistent high interest rates, with an average of 31.5% across the various debt instruments. In the latest auction, bids for the […]

In a bid to address a fiscal shortfall of $2.6 billion for the current fiscal year, South Africa conducted its second Islamic bond sale on Wednesday, marking a pivotal move as the government accelerates efforts to secure funding. The auction, which witnessed robust investor interest, saw total orders reaching 35.5 billion rand ($1.9 billion), with […]

In a significant milestone for the African fintech landscape, FrontEdge, a Nigerian trade finance startup, has successfully raised a substantial $10 million in a combination of debt and equity funding. The company, founded in 2021 by Harvard MBA graduate Moni Alli, specializes in facilitating cross-border trades for small and medium-sized enterprises (SMEs) across Africa. According […]

The Board of Directors of the African Development Bank Group has given the green light to a $10 million equity investment in Dhamana Guarantee Company Limited. This move aims to bolster the utilization of capital markets as an alternative avenue for long-term funding in East Africa’s infrastructure and the real sector. Dhamana Guarantee Company will […]

In a concerning economic development, Nigeria’s headline inflation rate climbed to 27.33% in October 2023, marking a significant 0.61% increase from the previous month’s figure of 26.72%. This represents a noteworthy 6.24% surge compared to October 2022 when the inflation rate stood at 21.09%. The impact of such inflation on the stock market and penny […]

The German government announced on Monday its commitment to invest €4 billion ($4.37 billion) in African green energy projects by 2030. Chancellor Olaf Scholz emphasized the need for African countries to derive greater benefits from their rich natural resources. The announcement came during a news conference at the G20 Compact with Africa summit in Berlin, […]

In a strategic move to broaden its secondary listings framework, the Johannesburg Stock Exchange (JSE) has opened its doors to companies primarily listed on the Hong Kong Exchanges and Clearing Ltd (HKEX). This expansion allows HKEX-listed companies to pursue secondary listings on the JSE and qualify for a streamlined fast-track listing process. The newly introduced […]

Zimbabwean businesses grapple with the challenges posed by a fluctuating exchange rate and a widening gap between official and parallel market values of the national currency. The Zimbabwe dollar has experienced an 89% depreciation against the US dollar on the official market this year, prompting companies listed on the Zimbabwe Stock Exchange (ZSE) to explore […]

Kuramo Capital Management, a prominent investment management firm specializing in Sub-Saharan Africa (SSA), has announced its ambitious plan to invest $150 million over the next decade in enterprises led by women. This significant investment is earmarked for deployment through the Moremi Platform, a strategic initiative aimed at fostering the growth of the next generation of […]

In a significant development, the Nigerian Exchange Limited (NGX) has reported a substantial increase in retail participation in equity markets, reaching 35% as of September 2023, up from 28% in 2022. The announcement was made by Jude Chiemeka, the Executive Director of Capital Markets at NGX, during the virtual NGX RegCo Retail Investor Workshop. The […]