In response to the ongoing depreciation of the local currency, Kenyans are increasingly turning to US dollar-based investments as a safeguard against the economic impacts. This trend is being observed both among domestic investors and members of the diaspora. The surge in interest for dollar-denominated investment products has led to the establishment of various forex […]
In a surprising move, the Bank of Ghana has decided to reduce its benchmark interest rate for the first time since 2021. The monetary policy committee, in a meeting on Monday, announced a cut from 30% to 29%, breaking a trend of rate stability that had been in place since September. This decision, contrary to […]
Sales of mutual funds focused on climate initiatives have experienced a sharp decline of 75% over the past two years, grappling with a combination of challenges ranging from high-interest rates to lackluster performance and a political campaign in the United States against socially conscious investments. According to provisional figures from data provider Morningstar, climate-focused funds […]
In a strategic move to fortify its position in the global marketplace, the Group Managing Director and Chief Executive Officer of Nigerian Exchange Group Plc, Mr. Temi Popoola, has announced the Exchange’s ongoing collaboration with regulators to review and align its listing rules with global standards, particularly those observed in major financial hubs like London. […]
In a groundbreaking development, Apollo Agriculture has successfully secured a substantial $10 million investment from Swedfund International and ImpactConnect, facilitated by DEG. This noteworthy financial infusion propels the company into a robust position to further its rapid expansion in pursuit of the mission to enhance the livelihoods of small-scale farmers while promoting sustainable farming practices. […]
In a strategic move to support small businesses, the Kenyan Treasury has introduced the Kenya Credit Guarantee Scheme Company (KCGSC) in collaboration with financial institutions. The initiative, developed in partnership with commercial banks, aims to de-risk lending to small businesses, particularly those emerging from the Hustler Fund. The Kenya Credit Guarantee Scheme Company (KCGSC) represents […]
In an effort to counter the recent slump in the Chinese stock market, authorities in China are contemplating a comprehensive package of measures, according to sources familiar with the matter. Previous attempts to restore investor confidence fell short, prompting Premier Li Qiang to call for “forceful” steps. Insiders reveal that policymakers are considering mobilizing approximately […]
Nukkleus Inc. and its subsidiary, DRFQ, have entered into a strategic partnership with TANTEL ISAF GROUP LIMITED to make significant inroads into the burgeoning African Business-to-Business (B2B) payments market. The World Bank estimates the value of this market to be upwards of $1.5 trillion. The collaboration seeks to revolutionize payment infrastructure across the continent, addressing […]
Ethiopia is gearing up to grant licenses to foreign investment banks, marking a significant move in preparation for the planned launch of a securities exchange later this year, according to statements from the Director General of the Ethiopian Capital Market Authority, Brook Taye. The liberalization initiative has attracted interest from foreign investors, including Safaricom (SCOM.NR), […]
The Brazilian real experienced a sell-off on Monday following the announcement of a new industrial development plan by leftist President Luiz Inacio Lula da Silva, aimed at revitalizing the country’s sluggish growth through state credits and subsidies over the next decade. Lula, seeking to replicate the strategies from his 2003-2010 presidential terms, expressed the need […]
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...
