In a significant move aimed at transforming the cooking habits across the African continent, the African Development Bank (AfDB) is ramping up its investments in clean cooking solutions. This announcement comes as a beacon of hope for millions of Africans who continue to rely on traditional cooking methods that pose health risks and environmental concerns. […]
In a groundbreaking move set to transform Kenya’s financial landscape, Valour, a leading issuer of cryptocurrency funds, has teamed up with the Nairobi Securities Exchange (NSE) and SovFi to introduce digital asset exchange-traded products (ETPs). This strategic partnership aims to bring Bitcoin, Ether, Solana, and Hedera ETPs to the NSE, marking a significant step in […]
In a surprising turn of events that caught the financial world’s attention, the New York Federal Reserve reported a significant drop in the amount of money accepted in its overnight reverse repo (RRP) facility on Monday. The facility saw $316.246 billion, marking the lowest level since May 2021. This is a notable decline from $338.473 […]
In a groundbreaking initiative set to transform the entrepreneurial landscape in Ekiti State, the state government has joined forces with Wema Bank to train and empower over 100,000 youths and owners of Micro, Small, and Medium Enterprises (MSMEs). Unveiled on Monday in Ado-Ekiti, this collaboration aims to tackle the multifaceted challenges facing MSMEs and promote […]
Kenya’s financial markets faced a turbulent Monday as Fitch Ratings downgraded the country’s credit score further into junk territory due to mounting budget risks. This latest downgrade has intensified concerns about Kenya’s financial health and its capacity to manage its growing debt effectively. Kenya’s 2048 dollar bonds were among the hardest hit, with prices dropping […]
Japanese stock markets experienced a dramatic drop on Monday, with Japan’s Nikkei 225 index suffering its largest single-day point drop in history. The sharp decline was driven by fears over a strengthening yen and the possibility of a recession in the United States. In a sell-off that resonated across Asian markets, the Nikkei ended the […]
The Export-Import Bank of the United States (EXIM) has been a key player in sub-Saharan Africa’s economic landscape, allocating a whopping $1.6 billion in 2023 alone. Their influence stretches across various sectors, including mining and energy. In line with the ongoing efforts to secure minerals crucial for US industries and support Africa’s growth, EXIM is […]
In a significant boost for Kenya’s mining industry, the long-anticipated construction of an iron ore smelting plant in Voi, Taita Taveta County, is officially underway. This exciting development follows the recent handover of land to the investor, marking the beginning of a major project that promises to reshape the local economy and the country’s mineral […]
In a move that’s set to shake up both the tech and aerospace industries, billionaire Elon Musk announced plans to relocate the headquarters of two of his most high-profile companies, SpaceX and social media platform X, from California to Texas. This bold decision comes on the heels of a controversial new California law that restricts […]
In a significant move that underscores its commitment to a greener future, TotalEnergies has announced a major investment in Uganda’s energy sector through a new partnership with Bujagali Energy Ltd. This agreement highlights TotalEnergies’ strategic push to expand its renewable energy footprint across Africa and marks a pivotal moment for Uganda’s energy landscape. A Bold […]
Despite confronting a challenging economic environment marked by slower GDP growth, elevated interest rates, and mounting operational expenses, Kenya's banking...
The United States government shutdown has entered a critical phase as it becomes the second-longest funding lapse in the nation's...
In a landmark move that signals a significant shift in international financial cooperation and the evolving architecture of global finance,...
The Central Bank of Kenya (CBK) has launched a strategic KSh 30 billion voluntary buyback programme for investors holding the...
