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Zambia’s official creditor committee is on the verge of signing a crucial memorandum of understanding (MoU) aimed at restructuring the nation’s $6.3 billion debt, with the agreement expected to be finalized before the conclusion of the International Monetary Fund’s (IMF) annual meeting next week. Sources familiar with the matter have disclosed this development. This marks […]

In a recent report released by the European Investment Bank, it has been revealed that Africa’s private investment faced a 3% decline, totaling $6.3 billion in 2022. This setback is primarily attributed to global risk aversion, which significantly impacted private equity and venture capital fundraising activities across the continent. Remarkably, this marks the lowest fundraising […]

In a remarkable display of financial strength, Vodacom Tanzania has revealed its intention to distribute a substantial payout of 22.3 billion Tanzanian Shillings (TZS) to its equity shareholders for the financial period concluding in March this year. The announcement was made by Vodacom Tanzania’s Chairman, Retired Judge Thomas Mihayo, during a press briefing following the […]

In a significant financial development, the Egyptian Exchange (EGX) commenced trading treasury bills (T-Bills) on the secondary market, as announced in a press release. On its inaugural day, the secondary market for T-Bills saw robust activity, with a total trading value reaching EGP 33.8 billion ($1.1 billion) generated from 109 transactions. This milestone achievement is […]

The Johannesburg Stock Exchange (JSE) has just unveiled an exciting development in the investment landscape. In a major announcement, JSE has introduced six new Actively Managed Certificates (AMCs) that grant investors access to both local and offshore equity strategies. Notably, Unum Capital’s Small and Mid-Cap AMCs have taken center stage in this launch, providing investors […]

The Nigeria Exchange Limited (NGX) has granted approval for the voluntary delisting of Capital Hotels Plc (NGX: CAPHOTEL), marking a pivotal moment in the company’s strategic journey. Capital Hotels Plc, the parent company of Abuja Continental Hotel, disclosed this crucial decision through a corporate filing statement submitted to NGX. Under the delisting terms, NGX mandated […]

Dashen Bank has forged a strategic alliance with Mastercard, introducing the revolutionary ‘Dashen Mastercard,’ a pioneering multi-currency international prepaid card, in a momentous development within Ethiopia’s financial sector. The announcement was made at a press conference held at the bank’s headquarters, signifying a significant leap in the country’s card-based financial services. The Dashen Mastercard stands […]

Investor sentiment in South Africa has taken a notable downturn as concerns mount over the potential for a severe budget deficit, according to a recent survey conducted by Bank of America Corp. The looming prospect of a larger-than-expected deficit on November 1 has raised apprehensions, with 82% of the 11 local fund managers surveyed this […]

In a significant financial development, the Ghanaian government has announced the reopening of its debt exchange program for holders of domestic bonds who did not participate in the previous deal that concluded in February. This reopening entails offering a package of new tranches of the same bonds issued by the government as part of the […]

Mozambique’s quest for justice and financial recovery takes center stage as the nation prepares to seek approximately $1.5 billion in damages during an upcoming trial next month. This legal battle is a response to the alleged $2 billion ‘tuna bond’ fraud that wreaked havoc on the country’s finances over the past decade. The United Kingdom’s […]