Airtel Kenya has accomplished a remarkable milestone by securing its highest voice market share in over three and a half years, reaching 35.1%, equivalent to a staggering 7.8 billion minutes. This surge in market dominance has led to a decline in Safaricom’s share to a three-year low, reflecting the intense competition between the two telecommunications […]
On the first trading day after the Christmas holiday, the Nigerian Naira exhibited resilience, gaining 1.52% against the US Dollar at the official market. Forex turnover witnessed an impressive 38.81% increase, reaching $127.93 million on Wednesday, December 27, 2023. Data from the Nigeria Autonomous Foreign Exchange Market (NAFEM), the official forex trading platform, revealed the […]
In a notable development on Wednesday, U.S. Treasury yields experienced a decline as investors carefully deliberated the prospective landscape of monetary policy and financial markets for the upcoming year. The 10-year Treasury yield exhibited a substantial drop of nearly 10 basis points, settling at 3.789%, while the 2-year Treasury yield saw a modest decrease of […]
In a groundbreaking move, Kenya has solidified its position as a frontrunner in cryptocurrency adoption on the African continent, marking a milestone by becoming the first country to implement taxes on digital assets. Kenyan legislators recently deliberated on the introduction of a 3% tax on cryptocurrency and non-fungible token (NFT) transfers, along with a 15% […]
In a significant development this week, the Jamaica Stock Exchange formalized a strategic partnership with the Nairobi Securities Exchange in Kenya by signing a Memorandum of Understanding (MoU), signaling a commitment to bolster ties with Africa. The MoU outlines ambitious plans aimed at elevating the financial markets through the introduction of innovative product offerings. Notably, […]
The Nigerian Exchange Limited experienced a wave of positive sentiment, commonly referred to as the ‘Santa Claus Rally,’ leading to notable gains for Airtel Africa Plc and MTN Nigeria Plc. This surge in optimism resulted in substantial gains for investors, with the telecom sector demonstrating resilience in the face of economic volatility. During the week’s […]
Bitcoin faced a modest retreat as traders evaluated potential reactions in the cryptocurrency markets following expectations of regulatory approval for the first US exchange-traded funds (ETFs) directly investing in the token. As of Wednesday in Singapore, the leading digital asset experienced a 2.4% decline over the past 24 hours, settling at $42,400. Despite this, Bitcoin […]
The Revitus Property Opportunities Real Investments Trust (Revitus REIT) has made history as the second Real Estate Investment Trust (REIT) to be officially listed on the Zimbabwe Stock Exchange (ZSE). Following in the footsteps of Tigere, which secured the first listing last year, Revitus REIT’s official listing took place yesterday, marking a significant milestone in […]
In a strategic move to bolster its renewable energy ambitions, billionaire Gautam Adani and his family have announced a substantial $1 billion investment in Adani Green Energy Ltd., according to sources familiar with the matter. The conglomerate, facing upcoming bond maturities in the coming year, is swiftly taking steps to meet its ambitious green targets. […]
In a move aimed at streamlining its operations in the Africa and Middle East (AME) region, Standard Chartered Bank has finalized the sale of its consumer banking business in Côte d’Ivoire to Coris Bank International Côte D’Ivoire. This divestment marks the conclusion of a series of strategic transactions initiated in April 2022, aligning with the […]
In a decisive move to fortify its economic resilience and reassure international investors, Kenya has finalized a landmark agreement aimed...
A significant trade dispute is brewing between two of the world's largest democracies, India and the United States, as New...
In a strategic move to alleviate its burgeoning debt burden and unlock crucial development financing, Egypt has successfully secured over...
As Kenyans prepare for fresh Saba Saba Day protests on Monday, the government has sounded a strong alarm regarding potential...
