In a significant development, the bankrupt cryptocurrency exchange FTX has received the go-ahead to liquidate approximately $873 million in trust assets. The decision, disclosed in a filing to the Delaware bankruptcy court on November 29, paves the way for the proceeds to be utilized in repaying creditors who suffered losses during the collapse of the […]
In a bid to revitalize initial public offerings (IPOs) and break a seven-year drought on the Nairobi Securities Exchange (NSE), companies seeking listing are now only required to demonstrate profitability once in the last five years. The new regulations, published by Treasury Cabinet Secretary Njuguna Ndung’u, mark a significant departure from the previous mandate, which […]
In a strategic move to bolster the growth of innovative startups in the climate, mobility, energy, and agricultural sectors, EchoVC has officially launched the EchoVC Eco Pilot Fund I, a substantial $2.5 million fund dedicated to providing crucial support to early-stage ventures. Eghosa Omoigui, Managing Partner at EchoVC, shared insights into the fund’s objectives, emphasizing […]
In a remarkable turn of events, cryptocurrency enthusiasts have witnessed Bitcoin’s triumphant recovery, with the digital currency surging past the $38,370 mark on Tuesday. This resurgence not only underscores the resilience of the cryptocurrency market but also highlights a renewed interest among investors. Bitcoin’s meteoric rise of 129% this year comes on the heels of […]
In a significant development for Kenya’s burgeoning online forex trading sector, the government has swiftly instituted a novel regulatory fee affecting all online forex brokers. This measure, effective immediately, is poised to bolster the revenue stream of the Capital Markets Authority (CMA) while fortifying safeguards for currency traders. Under the new regulation, both dealing and […]
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 […]
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