In a robust display of market demand, government-issued infrastructure bonds (IFBs) have been trading at a premium in the secondary market at the Nairobi Securities Exchange (NSE). The surge in interest is primarily attributed to retail buyers seeking the allure of high, interest-free rates offered by these bonds. As of the latest trading session, only […]
Bitcoin has reached its highest price in almost 20 months, hitting over $42,000 on Monday, marking an 8.2 percent increase from the previous day. The surge is fueled by growing optimism that the toughest regulatory hurdles for the cryptocurrency industry are behind, and anticipation that US regulators will soon approve stock market cryptocurrency funds. Investors […]
In a bid to alleviate its staggering debt burden, Zimbabwe is strategically employing the proceeds from its platinum exports to settle a $400 million loan extended by the African Export-Import Bank (Afreximbank). This move underscores the nation’s reliance on its mineral wealth to secure lines of credit amid challenges in obtaining loans from international financiers, […]
In a significant move towards fostering a deeper global alliance, the United States has announced a substantial investment of $600 million in private investments and infrastructure development in Africa. This announcement was made by David Greene, the Chargé d’Affaires of the U.S. Embassy in Nigeria, during an interview with the News Agency of Nigeria (NAN) […]
Kenyan President William Ruto has revealed the nation’s contemplation of entering the green finance arena through the potential sale of sovereign green bonds and engaging in debt-for-nature swap agreements to fund critical climate projects. Speaking on the sidelines of the 28th Conference of the Parties (COP 28) in Dubai, President Ruto emphasized the significance of […]
In a significant stride towards fostering digital payments in South Africa, Mastercard, a global titan in payment services, has successfully finalized the establishment of advanced technological infrastructure within the country. This strategic investment is anticipated to streamline local transaction processing, revolutionize the payments landscape, and seamlessly align with the Vision 2025 digital transformation agenda outlined […]
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 […]
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...