The Ghanaian government successfully garnered GH₵4.977 billion in its most recent treasury bill auction on November 24, 2023, despite receiving bids totaling GH₵5.008 billion. The auction results, released by the Bank of Ghana, revealed persistent high interest rates, with an average of 31.5% across the various debt instruments. In the latest auction, bids for the […]
In a bullish rally, the price of gold soared to a six-month peak on Monday, propelled by mounting investor confidence that the US Federal Reserve has concluded its interest rate hikes and a concurrent weakening of the US dollar. Spot gold prices experienced a 0.6% increase, reaching $2,014.55 per troy ounce, marking the highest level […]
In another setback for Kenya’s financial markets, Morgan Stanley Capital International (MSCI) has once again chosen to exclude Kenyan companies from its MSCI Equity Index for frontier markets. This development underscores the deteriorating investment climate in Kenya, marked by factors such as an unpredictable taxation regime, a dollar shortage, a weakening currency, and high fuel […]
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 […]
The Kenya Revenue Authority (KRA) has recorded a stunning 256.7 % increase in tax collections at Kisumu Port for the...
In a dramatic turn of events at the Asia‑Pacific Economic Cooperation (APEC) summit in Busan, South Korea, U.S. President Donald...
South Africa’s long-running conversation about preparing young people for the digital economy has moved decisively from pilots to national scale....
The dynamics of equity trading at the Nairobi Securities Exchange (NSE) are undergoing a significant transformation. Foreign investor activity has...
