Serrari Group

Vedanta’s Pledge to Clear $250M Debt for Copper Mine Repossession in Zambia

In a decisive move, Vedanta Resources Ltd. has committed to erasing a lingering debt of $250 million owed to its Zambian suppliers. The resolution hinges on Vedanta’s successful repossession of copper mines seized by Zambia’s government over four years ago. The Konkola Copper Mines, taken under provisional liquidation during former President Edgar Lungu’s term in […]

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EU Infrastructure Fund Sets Sights on African Clean Jet Fuel Projects

In a groundbreaking move, the European Union (EU) is actively seeking opportunities in Africa to bolster clean jet fuel initiatives through its Global Gateway infrastructure fund. This strategic move aligns with the projected surge in demand for eco-friendly air travel solutions. Underlining its commitment, the EU has earmarked half of its colossal 300 billion euro […]

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China Reduces Stamp Duty on Stock Trades in Bid to Boost Investor Confidence

In a significant move aimed at revitalizing investor confidence in its second-largest equity market, China has taken the decision to lower the stamp duty on stock trades for the first time since 2008. The announcement, made by the government in an official statement on Sunday, reveals that the reduction will take effect from August 28. […]

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Mastercard and Binance to Terminate Crypto Card Programs in Multiple Countries

In a significant development, global financial services provider Mastercard (MA.N) and renowned cryptocurrency exchange Binance have announced the discontinuation of their joint crypto card initiatives across various countries. Effective September 22, the four crypto card programs operating in Argentina, Brazil, Colombia, and Bahrain will be terminated, as confirmed by a spokesperson from Mastercard in a […]

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Nigeria Grapples with ₦190 Billion in Unclaimed Dividends, SEC Vows Reforms

Dayo Obisan, the executive commissioner responsible for operations at the Securities Exchange Commission (SEC), revealed that unclaimed dividends in Nigeria have reached a staggering ₦190 billion. Speaking at the post Capital Market Committee (CMC) press briefing held on Friday, Obisan highlighted the alarming amount of unclaimed dividends within the country’s financial landscape. The recent CMC […]

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Long-Term Bonds Suffer as South Africa’s Fiscal Challenges Deepen

In a tense global bond market, growing concerns about South Africa’s fiscal stability have escalated, pushing the government yield curve to its steepest point in a year. With the economy battered by severe power outages, an unexpectedly high government wage increase, and falling short of tax revenue targets, bond investors are expressing apprehension that the […]

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Kenya’s Private Sector Boosts Banking Industry with Double-Digit Credit Growth in 2022

In a recent report, the Kenya Bankers Association (KBA) revealed that improved activity in Kenya’s private sector resulted in remarkable growth within the banking industry, achieving double-digit credit expansion in the previous year. The State of Banking Industry Report 2023 by KBA unveiled that loans and advances surged by 12.5 percent, reaching Sh3.6 trillion in […]

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