In a significant move towards achieving its ambitious clean energy goals, the Climate Investment Funds (CIF) has given the green light to a $70 million plan for Kenya. The plan, backed by the CIF’s Trust Fund Committee, includes an initial allocation of $46.39 million. The primary objective of these funds is to propel the integration […]
The Ghana Stock Exchange (GSE) is poised for another year of positive growth in 2024, with projections by advisory firm Databank indicating a potential return ranging between 15 percent and 25 percent. The optimistic forecast is based on an improved macroeconomic environment, expected to contribute to robust performances across various sectors of the exchange. In […]
The Nigerian Exchange Group (NGX) continued its bullish trend, with the All-Share Index surging by 1.57%, gaining 1,618.98 points to close at an impressive 104,421.23 points. The market witnessed a positive breadth today, marked by 61 gainers against 12 losers. Dangote Sugar led the market’s bullish performance, experiencing a significant 7.17% gain, while banking stocks […]
In a recurring trend, foreign investors have withdrawn Ksh 178.2 million from the Nairobi Securities Exchange (NSE) in the past month, extending the capital flight that has persisted throughout the previous year. This prolonged period of withdrawals is attributed to a significant disparity in returns, with investments in advanced economies yielding higher profits compared to […]
In a remarkable feat, Dangote Cement, Nigeria’s foremost cement producer, has achieved an extraordinary market valuation of N13 trillion, overshadowing its closest rival, BUA Cement Plc, whose market value falls short of half of Dangote’s. Investors continue to show confidence in BUA Cement, leading to a surge in its market valuation and positioning the company […]
On Tuesday, AI-related companies witnessed a staggering loss of $190 billion in stock market value, triggered by lackluster quarterly performances from industry leaders Microsoft (MSFT.O), Alphabet (GOOGL.O), and Advanced Micro Devices (AMD.O). The underwhelming results failed to meet the high expectations of investors who had previously driven these stocks to record highs during a recent […]
Centenary Bank, one of Uganda’s premier commercial banks, has launched CenteWhatsApp banking, a groundbreaking platform that allows customers to access a range of banking services instantly and securely through the widely used messaging app, WhatsApp. The innovative CenteWhatsApp banking service empowers customers to conveniently check account balances, make money transfers, pay bills, receive real-time notifications, […]
In a significant development, the Capital Markets Authority (CMA) has approved the application for an Over-the-Counter (OTC) trading license by the East African Bond Exchange (EABX), setting the stage for increased competition in Kenya’s bond market. The approval, granted on Tuesday, positions EABX to vie with the Nairobi Securities Exchange (NSE) for bond market dominance, […]
In a recent interview with Yahoo Finance, Rachel Aguirre, the U.S. Head of BlackRock’s iShares Products, expressed her satisfaction with the launch and initial performance of the iShares Bitcoin Trust (IBIT), the company’s spot-based Bitcoin exchange-traded fund (ETF). Within the first two weeks of trading since receiving approval from the Securities and Exchange regulator, IBIT […]
In a historic move, the African Development Bank, boasting a stellar credit rating of Aaa/AAA/AAA/AAA (Moody’s/S&P/Fitch/Japan Credit Rating, all stable), has successfully launched and priced its first-ever Sustainable US dollar-denominated 750 million perpetual subordinated hybrid capital notes. On January 30, 2024, the African Development Bank executed a hybrid capital transaction featuring a coupon rate of […]
Kenya’s Central Bank of Kenya (CBK) has lowered its benchmark interest rate by 50 basis points, reducing it to 10.75%...
U.S. President Donald Trump has once again escalated his trade war rhetoric, this time setting his sights on the European...
The World Bank has revised its economic growth forecast for South Africa, increasing its 2025 GDP projection from 1.6% to...
The Central Bank of Kenya (CBK) has rejected a new bond trading platform proposed by commercial banks, known as the...