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 […]
China’s securities regulator, the China Securities Regulatory Commission (CSRC), announced its approval of three applications on Sunday for the launch of the nation’s inaugural publicly traded commercial Real Estate Investment Trusts (REITs) products. These REITs are supported by a portfolio of consumption-related infrastructure projects, marking a significant development in the country’s financial landscape. The initial […]
AIB-AXYS AFRICA, a leading stock brokerage firm, has introduced an innovative virtual assistant named Wekeza (invest) to provide expert guidance to investors navigating the complexities of capital markets. This cutting-edge tool is poised to redefine conventional investment approaches, offering users a unique and comprehensive experience. Wekeza operates as a financial GPS, adeptly leading users through […]
In a groundbreaking move, Colombia’s finance minister, Ricardo Bonilla, has revealed plans for the introduction of a Central Bank Digital Currency (CBDC) as part of a comprehensive initiative to regulate cryptocurrencies. Bonilla confirmed that the issuance of the CBDC will be overseen by the Bank of the Republic, emphasizing that the digital currency will serve […]
In a groundbreaking move, the Capital Markets Authority of Kenya (CMA) has granted approval to First Future Holdings Ltd to initiate trials of a revolutionary technology that enables Kenyans to buy and sell shares listed on the Nairobi Securities Exchange (NSE) using SMS. This regulatory green light is poised to democratize stock market investing, fostering […]
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 […]
In a recent development, Sterling Capital, headquartered in Nairobi, disclosed that Standard Chartered Bank Kenya Ltd has made substantial adjustments to its investment portfolio, particularly reducing its exposure to Kenyan government bonds. This move comes in response to a directive from the bank’s parent company, aiming to mitigate sovereign risk exposure, a decision influenced by […]
In a significant move bolstering its position in the rapidly growing Chinese mutual fund market, Fidelity International has successfully raised 5 billion yuan ($700 million) from investors for its inaugural fixed-income mutual fund in China. This accomplishment marks a strategic expansion for the asset manager in a market valued at $3.8 trillion. Helen Huang, Managing […]
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 […]
In a significant diplomatic stride, the Republic of Cyprus has officially inaugurated its embassy in Nairobi, marking a pivotal moment...
The Syrian economy, devastated by over a decade of conflict, stands at a critical juncture. On Monday, the World Bank...
The world's youngest nation, South Sudan, is once again at a critical economic crossroads, facing a severe financial crisis that...
In a vibrant display of its growing economic prowess and innovation, Kenyan startups have collectively raised a remarkable Sh17 billion...
