The Central Bank of Kenya (CBK) has reported remarkable investor interest in its Weekly Treasury Bills Auction held on Thursday, August 17, 2023. The auction saw bids totaling KSh 44.7 billion, marking an impressive oversubscription rate of 186%. Of particular note was the exceptional attraction of the 91-day Treasury Bills, which garnered bids amounting to […]
In a significant move indicating a shift in economic strategy, Turkey has embarked on the initial stages of dismantling a $125 billion program designed to shield savers from the impact of lira depreciation. This change marks the latest departure from the unconventional economic policies that had negatively affected the nation’s financial health, attributed to President […]
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 […]
As Kenya solidifies its vision to establish itself as East Africa’s petroleum hub, Danish energy solutions leader, Danfoss, is injecting fresh vitality into the nation’s energy landscape. The strategic acquisition of key assets sets the stage for a dynamic transformation, while collaborative partnerships with local enterprises and institutions underline Danfoss’s commitment to shaping Kenya’s sustainable […]
In a move that reverberates across the cryptocurrency landscape, Binance has announced the imminent shutdown of its buy-and-sell service, Binance Connect, previously known as Bifinity. This decision comes merely a year after its inception, showcasing the dynamic nature of the crypto industry. The closure is scheduled for August 16, marking a strategic shift by the […]
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 […]
A study conducted by Enwealth Financial Services in collaboration with Strathmore University and released in 2022 has shed light on the saving habits and financial literacy levels of Kenyans. The study indicates that despite a commendable 82% of Kenyans surveyed attempting to save money, only a mere 12% of respondents have successfully established a sustainable […]
Switzerland’s banking giant, UBS, has taken a significant step to resolve a longstanding legal battle, agreeing to pay a substantial $1.4 billion settlement in connection with alleged misrepresentation of bonds backed by mortgages. The bonds, sold in the years leading up to the 2008 financial crisis, have been at the center of a comprehensive investigation […]
In a significant move highlighting the growing convergence of technology and finance, MTN Group, the largest mobile network operator in Africa, has announced a game-changing financial development. The telecommunications giant has unveiled its half-year financial performance, which includes a groundbreaking partnership with global payment behemoth Mastercard. This strategic collaboration sees Mastercard acquiring a minority stake […]
The Nairobi Coffee Exchange (NCE) is gearing up to reopen its trading operations after a prolonged halt that began on July 6. The suspension, attributed to the government’s decision to overhaul coffee brokerage and licenses, has stirred confusion within the industry, impacting trade dynamics. Key industry players have pointed to the government’s reforms as the […]
A historic moment in East African energy cooperation unfolded this week as Ethiopia commenced its first-ever electricity exports to Tanzania,...
The United States Senate is currently embroiled in a high-stakes, marathon voting session on a sweeping budget bill, colloquially dubbed...
In a landmark moment for Burundi's energy future, President Evariste Ndayishimiye this week inaugurated the Jiji hydroelectric plant, a crucial...
The financial landscape in Kenya has seen a notable development with the Central Bank of Kenya (CBK) announcing the cancellation...
