Rivian Automotive Inc (RIVN.O) witnessed a substantial drop in its stock value, plummeting over 20% on Thursday, marking its most significant daily percentage decline since May of the previous year. This decline was triggered by the company’s recent revelation of its intent to issue $1.5 billion in convertible green bonds. Based in Irvine, California, Rivian […]
Microsoft and M-PESA have unveiled their strategic partnership aimed at bolstering the growth of micro, small, and medium-sized enterprises (MSMEs) across Africa. This initiative intends to equip MSMEs with the digital expertise and essential tools necessary to expand their operations and enhance customer service. The partnership recognizes the pivotal role MSMEs play in the African […]
In a significant market development, foreign investors have offloaded shares worth Sh1.1 billion on the Nairobi Securities Exchange (NSE) last month, according to recent market data. This marks a noticeable resurgence in sell-offs from foreign investors, reversing the trend seen in August when offshore investors recorded a rare net buy position with portfolio inflows amounting […]
In a significant policy shift, South Korea has lifted the cap on commercial banks’ bond sales that was imposed during last year’s credit crunch. The move is aimed at ensuring adequate funding for the country’s financial sector amidst ongoing challenges. The decision was confirmed by the Financial Services Commission, in response to a Korea Economic […]
The Development Bank of Rwanda (BRD) PLC has initiated the issuance of its inaugural sustainability-linked bond on the Kigali Stock Exchange. This historic bond issuance, a first for a national development bank worldwide, seeks to raise an impressive Rwf30 billion (approximately $24.8 million) dedicated to supporting the bank’s environmental, social, and governance (ESG) programs in […]
Zambia’s official creditor committee is on the verge of signing a crucial memorandum of understanding (MoU) aimed at restructuring the nation’s $6.3 billion debt, with the agreement expected to be finalized before the conclusion of the International Monetary Fund’s (IMF) annual meeting next week. Sources familiar with the matter have disclosed this development. This marks […]
Sean Chin MQ, a renowned Investment Director at Olritz Financial Group, has unveiled an ambitious plan to revolutionize Kenya’s affordable housing sector. With an illustrious 15-year career in the financial world, Sean Chin MQ has assumed the helm at Olritz Financial Group, managing assets exceeding $150 million. His latest endeavor promises to be nothing short […]
The Kenyan Treasury has managed to raise just Sh7.9 billion from the sale of government securities this week, falling significantly short of its target of Sh43 billion. Investor apathy and the Central Bank of Kenya’s (CBK) rejection of costly bids have weighed down on the nation’s financial market. The sales, which included Treasury bills and […]
UBS Group AG has reached a significant settlement with Mozambique concerning Credit Suisse’s involvement in a ship-financing scandal, bringing closure to a decade-long legal battle just on the brink of a London trial. In a statement released today, Zurich-based UBS revealed that the settlement extends to most of the other lenders who were part of […]
The World Bank has made significant downward revisions to China’s growth outlook for 2024, reflecting concerns raised by a series of weak economic indicators. This adjustment, from the previously projected 4.8% in April to the current 4.4%, underscores mounting apprehensions regarding China’s economic slowdown and its potential ripple effects across Asia. China’s economy faces notable […]
Aquaculture, the fastest-growing segment of the global food system, now produces more than half of the world's fish. In Kenya,...
The Gulf Cooperation Council (GCC) has experienced significant growth in its debt capital markets, with a year-on-year increase of 11%...
The Nigeria Labour Congress (NLC) has strongly criticized the National Assembly over its exclusion of workers and trade unions in...
HF Group Plc, a leading financial solutions provider in Kenya, has achieved a remarkable milestone with the successful completion of...