In a move that reverberates across the cryptocurrency landscape, Binance has announced the imminent shutdown of its buy-and-sell service, Binance Connect, previously known as Bifinity. This decision comes merely a year after its inception, showcasing the dynamic nature of the crypto industry. The closure is scheduled for August 16, marking a strategic shift by the […]
Growthpoint, the nation’s largest property company, has unveiled plans to invest 1.2 billion rand (approximately $63 million) into the student housing sector by 2026. This move aims to counterbalance challenges faced in other real estate segments. A substantial shortage of up to 500,000 beds within South Africa’s formal student housing sector, highlighted in a 2021 […]
A study conducted by Enwealth Financial Services in collaboration with Strathmore University and released in 2022 has shed light on the saving habits and financial literacy levels of Kenyans. The study indicates that despite a commendable 82% of Kenyans surveyed attempting to save money, only a mere 12% of respondents have successfully established a sustainable […]
Switzerland’s banking giant, UBS, has taken a significant step to resolve a longstanding legal battle, agreeing to pay a substantial $1.4 billion settlement in connection with alleged misrepresentation of bonds backed by mortgages. The bonds, sold in the years leading up to the 2008 financial crisis, have been at the center of a comprehensive investigation […]
In a significant move highlighting the growing convergence of technology and finance, MTN Group, the largest mobile network operator in Africa, has announced a game-changing financial development. The telecommunications giant has unveiled its half-year financial performance, which includes a groundbreaking partnership with global payment behemoth Mastercard. This strategic collaboration sees Mastercard acquiring a minority stake […]
The Nairobi Coffee Exchange (NCE) is gearing up to reopen its trading operations after a prolonged halt that began on July 6. The suspension, attributed to the government’s decision to overhaul coffee brokerage and licenses, has stirred confusion within the industry, impacting trade dynamics. Key industry players have pointed to the government’s reforms as the […]
Buenos Aires, August 14, 2023 – Argentina’s currency and stock markets experienced mounting pressure as an unexpected turn of events unfolded in the country’s primary election. A far-right libertarian candidate, advocating for the abolition of the central bank and the implementation of a dollarized economy, emerged victorious, sending shockwaves through financial markets. Javier Milei, an […]
Founders Factory Africa, the pan-African powerhouse specializing in early-stage tech venture investments, has secured a substantial boost of $114 million in funding. This fresh injection of capital aims to fuel the expansion of its pioneering hybrid investment approach, spanning across the African continent. The move comes as a significant development in the realm of African […]
In a move that holds implications for the financial landscape, the Central Bank of the country (CBK) has presented enticing rates of return to bidders in its latest auction. The auction, which featured Treasury Bills with durations of 91 days, 182 days, and 364 days, concluded with successful bidders securing rates of 13.1104%, 13.4381%, and […]
The State Council of China has recently released a comprehensive set of guidelines aimed at enhancing the country’s foreign investment landscape and attracting greater overseas capital. These guidelines, comprising 24 distinct points, were introduced on Sunday as part of China’s ongoing efforts to optimize its investment environment and stimulate economic growth. According to the official […]
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...