In a fluctuating economic landscape, U.S. Treasury yields witnessed a decline on Tuesday, as the trajectory of interest rates and the timing of potential cuts remained uncertain. The 10-year Treasury yield experienced a drop of approximately 8 basis points, settling at 4.087%, while the 2-year Treasury yield also saw a decrease of over 7 basis […]
ICEA Lion Asset Managers (ILAM) has announced that it will delist its Fahari income real estate investment trust (REIT) from the Nairobi Securities Exchange (NSE) main investment market segment on February 12, 2024. This decision follows the resolution by unit holders to delist and subsequent approval of the delisting by the Capital Markets Authority (CMA). […]
In a strategic move set to revolutionize Kenya’s bond market, the Nairobi Securities Exchange (NSE) has secured approval from the Capital Markets Authority for amendments to its Fixed Income Trading Rules. This pivotal development heralds the establishment of a hybrid fixed-income market, blending onscreen and Over-the-Counter (OTC) trading of fixed-income securities. The NSE’s Chief Executive […]
In a move aimed at tightening liquidity and enticing foreign investment, Nigeria’s central bank announced a hike in interest rates on short-term debt obligations. The decision, made public on Wednesday, underscores efforts to stabilize the country’s economy amidst inflationary pressures and foreign exchange challenges. The Central Bank of Nigeria, headquartered in Abuja, initiated the measure […]
Over the past five years, equity long-short hedge funds, a cornerstone of the hedge fund industry, have grappled with significant client withdrawals totaling nearly $150 billion. Investors, disillusioned by these funds’ inability to navigate bull markets effectively or shield against downturns, are increasingly turning away from the strategy. Equity long-short funds, which traditionally seek to […]
In a recent move aimed at curbing fraud, money laundering, and other illicit uses of U.S. currency, Iraq has prohibited eight local commercial banks from engaging in U.S. dollar transactions. The decision follows a visit by a high-ranking U.S. Treasury official and is seen as a part of a broader crackdown on currency smuggling, particularly […]
In a significant move towards achieving its ambitious clean energy goals, the Climate Investment Funds (CIF) has given the green light to a $70 million plan for Kenya. The plan, backed by the CIF’s Trust Fund Committee, includes an initial allocation of $46.39 million. The primary objective of these funds is to propel the integration […]
The Ghana Stock Exchange (GSE) is poised for another year of positive growth in 2024, with projections by advisory firm Databank indicating a potential return ranging between 15 percent and 25 percent. The optimistic forecast is based on an improved macroeconomic environment, expected to contribute to robust performances across various sectors of the exchange. In […]
The Nigerian Exchange Group (NGX) continued its bullish trend, with the All-Share Index surging by 1.57%, gaining 1,618.98 points to close at an impressive 104,421.23 points. The market witnessed a positive breadth today, marked by 61 gainers against 12 losers. Dangote Sugar led the market’s bullish performance, experiencing a significant 7.17% gain, while banking stocks […]
In a recurring trend, foreign investors have withdrawn Ksh 178.2 million from the Nairobi Securities Exchange (NSE) in the past month, extending the capital flight that has persisted throughout the previous year. This prolonged period of withdrawals is attributed to a significant disparity in returns, with investments in advanced economies yielding higher profits compared to […]
Kenya's electricity sector has reached a critical juncture as the nation recorded unprecedented peak demand of 2,411.98 megawatts (MW) and...
The Federal Reserve announced a quarter-point reduction to its benchmark interest rate on Wednesday, bringing the federal funds rate to...
The United Arab Emirates has solidified its position as one of Africa's most strategic economic partners, ranking fourth globally in...
Emirates Airlines is strategically positioning Kenya as its primary gateway to East and Central Africa, capitalizing on the recently implemented...
