Vanguard, a leading mutual fund manager, revealed that it has provided support for only 2% of shareholder resolutions focused on environmental and social concerns at U.S. companies in the current year. This represents a significant decline from the 12% support it extended in the previous year. The decrease in backing has contributed to an overall […]
In a groundbreaking move, the European Union (EU) is actively seeking opportunities in Africa to bolster clean jet fuel initiatives through its Global Gateway infrastructure fund. This strategic move aligns with the projected surge in demand for eco-friendly air travel solutions. Underlining its commitment, the EU has earmarked half of its colossal 300 billion euro […]
In a significant move aimed at revitalizing investor confidence in its second-largest equity market, China has taken the decision to lower the stamp duty on stock trades for the first time since 2008. The announcement, made by the government in an official statement on Sunday, reveals that the reduction will take effect from August 28. […]
In a significant development, global financial services provider Mastercard (MA.N) and renowned cryptocurrency exchange Binance have announced the discontinuation of their joint crypto card initiatives across various countries. Effective September 22, the four crypto card programs operating in Argentina, Brazil, Colombia, and Bahrain will be terminated, as confirmed by a spokesperson from Mastercard in a […]
Dayo Obisan, the executive commissioner responsible for operations at the Securities Exchange Commission (SEC), revealed that unclaimed dividends in Nigeria have reached a staggering ₦190 billion. Speaking at the post Capital Market Committee (CMC) press briefing held on Friday, Obisan highlighted the alarming amount of unclaimed dividends within the country’s financial landscape. The recent CMC […]
In a tense global bond market, growing concerns about South Africa’s fiscal stability have escalated, pushing the government yield curve to its steepest point in a year. With the economy battered by severe power outages, an unexpectedly high government wage increase, and falling short of tax revenue targets, bond investors are expressing apprehension that the […]
In a strategic move aimed at bolstering its financial reserves, the Treasury has reentered the market, conducting a tap sale to secure Sh21 billion through its August bond issuance. This initiative follows the initial bond auction that faced challenges when the Central Bank of Kenya (CBK) declined offers amounting to Sh33 billion due to excessive […]
In a recent report, the Kenya Bankers Association (KBA) revealed that improved activity in Kenya’s private sector resulted in remarkable growth within the banking industry, achieving double-digit credit expansion in the previous year. The State of Banking Industry Report 2023 by KBA unveiled that loans and advances surged by 12.5 percent, reaching Sh3.6 trillion in […]
Qatar’s sovereign wealth fund, the Qatar Investment Authority (QIA), is poised to inject $1 billion into the retail division of Indian billionaire Mukesh Ambani’s conglomerate, valuing the retail unit at an impressive $100 billion. This move underscores the increasing engagement of Gulf investors in India’s rapidly expanding economy. Reliance Retail Ventures Limited, a subsidiary of […]
In a bold move that underscores its dedication to the burgeoning technology landscape of Africa, Japanese telecommunications powerhouse NTT (Nippon Telegraph and Telephone Corporation) has solidified its position in the continent’s investment strategy. This strategic advancement arrives amid a wave of substantial investments by global tech leaders in Africa’s technology sector, a trend projected to […]
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...