Mozambique’s quest for justice and financial recovery takes center stage as the nation prepares to seek approximately $1.5 billion in damages during an upcoming trial next month. This legal battle is a response to the alleged $2 billion ‘tuna bond’ fraud that wreaked havoc on the country’s finances over the past decade. The United Kingdom’s […]
In a recent development in the investment landscape, investors have overwhelmingly chosen money market funds as their preferred investment vehicle, allocating a staggering 74.7 percent of their funds to this asset class. This trend has placed money market funds firmly ahead of other investment options, such as equity funds that focus on listed stocks. The […]
Deutsche Bank, one of the world’s leading financial institutions, has entered into a strategic partnership with Swiss cryptocurrency firm Taurus to offer custody services for cryptocurrencies and tokenized assets to institutional clients, according to an official statement released by Taurus on Thursday. This groundbreaking collaboration marks a significant milestone for Deutsche Bank, enabling the institution […]
In a significant move aimed at bolstering funding for developing economies, the African Development Bank (AfDB) is poised to issue the first-ever perpetual hybrid notes from a multilateral development bank. This innovative financial instrument, as revealed in an investor presentation obtained by Bloomberg News, introduces a novel mechanism that could reshape funding dynamics for developmental […]
In a remarkable turn of events, retail investors have significantly increased their lending to the government, contributing Sh130.4 billion in the first eight months of this year, reaching a record high of Sh418 billion. This surge in lending comes as retail investors seek higher yields in the face of diminishing returns in other asset classes […]
In a prelude to the Federal Reserve’s imminent decision, financial markets witnessed a turbulent day, marked by declining stocks and surging bond yields. Heightened oil prices have fueled speculation that interest rates might remain elevated for an extended period to counter potential inflationary pressures. The S&P 500 index extended its September downturn, while the Nasdaq […]
Ethiopia is facing a record-high sovereign-risk premium following its recent downgrade deeper into junk status by Moody’s Investors Service. Investors are demanding an unprecedented extra yield to hold Ethiopia’s dollar-denominated debt, with spreads widening to a staggering 4,089 basis points above Treasuries. This marks a significant contrast to the narrowing spread observed earlier in the […]
Flutterwave, the leading fintech giant in Africa, has unveiled ambitious plans to inject $50 million into Kenya, subject to regulatory clearance from the Central Bank of Kenya (CBK). This substantial investment will be primarily allocated to expanding Flutterwave’s workforce and bolstering its infrastructure within Kenya’s borders. As of now, Flutterwave already boasts a team of […]
In the wake of a recent coup that shook the political landscape of Gabon, the newly appointed Prime Minister, Raymond Ndong Sima, has declared his commitment to honoring the nation’s debt obligations while also seeking to implement reforms to stabilize the economy and combat corruption within the government. As the nation grapples with the fallout […]
In response to the devaluation of the naira earlier this year, Nigeria’s central bank has issued a directive instructing the nation’s financial institutions to redirect the substantial gains from currency revaluation towards building safeguards against potential future losses. This move comes as part of the country’s broader currency reform efforts aimed at attracting foreign investment […]
A new report from the Kenya National Chamber of Commerce and Industry (KNCCI) paints a stark picture of Kenya’s job...
In the interconnected global economy, trade between major economic players can be a source of tension, especially when tariffs and...
In a significant move aimed at addressing long-standing pension arrears, Nigeria’s Federal Executive Council (FEC) has approved the issuance of...
In a strategic move poised to redefine Kenya's financial landscape, Safaricom and the Kenya Bankers Association (KBA) have jointly proposed...