In a strategic move to address potential challenges in its foreign exchange reserves, Kenya’s National Treasury has appointed Citi and Standard Bank as joint lead managers. Their mandate is to explore options for international US$ capital markets funding and liability management for Kenya. With the looming pressure on foreign exchange reserves in 2024 due to […]
In a groundbreaking move, Brazil successfully raised $2 billion on Monday through its debut ‘green’ bond issuance, securing a 6.15% yield, as reported by an anonymous source with knowledge of the transaction. The seven-year bonds mark a strategic initiative to establish a benchmark within the private market, concurrently aligning financial resources with the government’s ambitious […]
The Nairobi Securities Exchange PLC (NSE) has granted approval for the listing of Linzi Sukuk on its Unquoted Securities Platform (USP), marking a historic milestone as the first Shari’ah-compliant product admitted to the platform. The Linzi Sukuk now joins the ranks of three admitted securities on the USP. Issued by Linzi FinCo Trust, a common […]
The Africa Investment Forum’s 2023 Market Days culminated in an unprecedented achievement, attracting an impressive $34.82 billion in investment interest for vital sectors such as infrastructure, agriculture, health, and the creative industries. The three-day global event, themed “Unlocking African Value Chains,” concluded on Friday in the vibrant Moroccan city of Marrakech, bringing together over 1,000 […]
In a recently unveiled report by the World Economic Forum (WEF), it has been revealed that Sub-Saharan Africa is emerging as a frontrunner in renewable energy adoption and investment, showcasing the region’s substantial potential for a sustainable future. The report, which scrutinized the Energy Transition Index (ETI) of 120 nations spanning from 2014 to 2023, […]
In a significant development, global payments giant PayPal finds itself under the watchful eye of the United States Securities and Exchange Commission (SEC), as the regulatory body issues a subpoena regarding PayPal USD (PYUSD), the company’s U.S. dollar-pegged stablecoin. This move marks the latest example of the growing regulatory scrutiny that stablecoins are facing in […]
In a major environmental commitment, the world’s largest global climate fund has pledged $39.1 million to support Rwanda in its fight against climate change by revitalizing the country’s last remaining montane forests. The $12.8 billion Green Climate Fund, headquartered in South Korea, has initiated this substantial investment with the aim of enhancing the climate resilience […]
European sustainable funds, often referred to as ESG funds, are witnessing a substantial exodus of investors, driven by apprehensions surrounding economic instability and shifting regulatory paradigms. This shift in sentiment became particularly pronounced during the third quarter of 2023, with a staggering €20.5 billion ($21.7 billion) being pulled from funds residing within the European Union’s […]
The Nairobi Securities Exchange (NSE) witnessed a historic surge in the prices of gold exchange-traded funds (ETFs), with the Absa New Gold ETF unit price reaching an all-time high of Sh2,840. This remarkable escalation is attributed to the emergence of new geopolitical tensions on the global stage. In a remarkable climb, the Absa New Gold […]
Despite the prevailing downturn in equities, stocks with valuations below Sh4 billion on the Nairobi Securities Exchange (NSE) have emerged as the leaders in generating returns for investors in 2023. Out of the 24 firms that have seen their stock values rise since the beginning of the year, 15 are smaller companies, with notable mentions […]
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...