In a bid to manage mounting financial pressures, Country Garden, one of China’s largest private property developers, has formally requested a 40-day extension on the repayment of a renminbi bond that is set to mature in the upcoming week. This development underscores the growing distress within the Chinese real estate sector. The request, which arrives […]
In a shocking turn of events, Gabon, a Central African nation, experienced a significant plunge in its dollar bonds following a military coup that unfolded on Wednesday. This rapid decline marked the most substantial daily drop since the peak of the COVID-19 pandemic, sending reverberations across financial markets. The coup transpired only weeks after Gabon […]
Safaricom, the leading telecommunications giant, has initiated the early distribution of a final dividend amounting to a staggering Sh24.84 billion to its shareholders, thus contributing to an enhanced liquidity infusion within the economy. This strategic move saw investors receiving their concluding dividends on Tuesday, which were valued at Sh0.62 per share. This figure signifies a […]
In a marked departure from the previous year’s figures, alternative investment fundraising has experienced a significant slowdown, down by 27% year-to-date (YTD), according to data compiled by Preqin. A total of $740 billion has been raised since the beginning of the year, a stark contrast to the $1.02 trillion raised during the same period the […]
In a game-changing move, Finnfund and DFC have pledged a whopping $15 million in financial backing to Kentegra Biotechnology. The aim? Supercharging pyrethrin production expansion in Kenya 🇰🇪. Kentegra Biotechnology Holdings LLC, powered by this substantial investment, is set to process pyrethrum flowers from a staggering 90,000 small-scale Kenyan farmers. The end product? Pyrethrin, a […]
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 […]
Investor wealth at the Nairobi Securities Exchange (NSE) has been cut in half since its peak valuation of Sh2.9 trillion exactly two years ago, as foreign investors flee the market, sending shockwaves through the financial landscape. Exactly on August 24, 2021, the stock market hit an unprecedented high, soaring to a record valuation of Sh2.94 […]
Vanguard, a leading mutual fund manager, revealed that it has provided support for only 2% of shareholder resolutions focused on environmental and social concerns at U.S. companies in the current year. This represents a significant decline from the 12% support it extended in the previous year. The decrease in backing has contributed to an overall […]
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 […]
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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