In a shocking turn of events, Gabon, a Central African nation, experienced a significant plunge in its dollar bonds following a military coup that unfolded on Wednesday. This rapid decline marked the most substantial daily drop since the peak of the COVID-19 pandemic, sending reverberations across financial markets. The coup transpired only weeks after Gabon […]

In a decisive move, Vedanta Resources Ltd. has committed to erasing a lingering debt of $250 million owed to its Zambian suppliers. The resolution hinges on Vedanta’s successful repossession of copper mines seized by Zambia’s government over four years ago. The Konkola Copper Mines, taken under provisional liquidation during former President Edgar Lungu’s term in […]

In a groundbreaking move, the European Union (EU) is actively seeking opportunities in Africa to bolster clean jet fuel initiatives through its Global Gateway infrastructure fund. This strategic move aligns with the projected surge in demand for eco-friendly air travel solutions. Underlining its commitment, the EU has earmarked half of its colossal 300 billion euro […]

Dayo Obisan, the executive commissioner responsible for operations at the Securities Exchange Commission (SEC), revealed that unclaimed dividends in Nigeria have reached a staggering ₦190 billion. Speaking at the post Capital Market Committee (CMC) press briefing held on Friday, Obisan highlighted the alarming amount of unclaimed dividends within the country’s financial landscape. The recent CMC […]

In a tense global bond market, growing concerns about South Africa’s fiscal stability have escalated, pushing the government yield curve to its steepest point in a year. With the economy battered by severe power outages, an unexpectedly high government wage increase, and falling short of tax revenue targets, bond investors are expressing apprehension that the […]

In a bold move that underscores its dedication to the burgeoning technology landscape of Africa, Japanese telecommunications powerhouse NTT (Nippon Telegraph and Telephone Corporation) has solidified its position in the continent’s investment strategy. This strategic advancement arrives amid a wave of substantial investments by global tech leaders in Africa’s technology sector, a trend projected to […]

The Ministry of Finance in Ghana has taken a significant step towards enhancing the nation’s financial stability by successfully initiating the settlement of the first coupon payment for bonds affected by the Domestic Debt Exchange Program (DDEP). This move underscores the government’s commitment to maintaining the ongoing success and credibility of Ghana’s domestic debt activities. […]

Airtel Uganda, a leading telecommunications company in the country, is preparing to initiate an Initial Public Offering (IPO) in which it will offer 20 percent of its issued shares, amounting to a total of eight billion units. The IPO is scheduled to take place between the end of this month and early October, signaling a […]

In a groundbreaking move aimed at bolstering sustainable development and combatting climate change, the Government of Zimbabwe has introduced the Carbon Credits Trading General Regulations 2023. This new initiative places Zimbabwe at the forefront of carbon credit trading in the region, showcasing its commitment to environmental stewardship and innovative climate solutions. The move follows a […]

Growthpoint, the nation’s largest property company, has unveiled plans to invest 1.2 billion rand (approximately $63 million) into the student housing sector by 2026. This move aims to counterbalance challenges faced in other real estate segments. A substantial shortage of up to 500,000 beds within South Africa’s formal student housing sector, highlighted in a 2021 […]