In a remarkable rally, Bitcoin surged to close the week, breaching the $47,000 mark for the first time in almost two years. On Friday, the premier cryptocurrency witnessed a gain of over 4%, reaching $47,307.00, according to data from Coin Metrics, marking a level unseen since March 2022. Alongside, Ether also saw an uptick, rising […]
Mauritius, foreign direct investment (FDI) inflows surged by 27% to 23.1 billion rupees ($503 million) in the nine months leading up to September compared to the previous year. This notable rise was primarily propelled by increased property sales, reflecting the nation’s appeal to international investors. Real estate transactions dominated the investment landscape, constituting a substantial […]
In a notable development, the Central Bank of Kenya (CBK) recently conducted its Weekly Treasury Bills auction, witnessing a significant redemption of KSh 48.5 billion out of KSh 51.1 billion in bids received. The CBK accepted KSh 48.8 billion at this auction, marking a substantial movement in the market. This surge in redemptions, according to […]
The Nigerian naira experienced a marginal gain against the dollar at the official market, even as forex turnover plummeted by 56.17% to $203 million. In contrast, the exchange rate deteriorated in the black market during the same period, highlighting the contrasting trends between official and unofficial forex markets despite efforts from the Central Bank of […]
In a significant milestone for the climate tech sector, Kenyan startup Amini has successfully secured funding from prominent investors, including Salesforce Ventures, Female Founders Fund, Pale Blue Dot, and Rally Cap VC. This investment round marks the entry of Rally Cap VC into the climate tech arena, signaling a burgeoning interest in environmentally-focused ventures among […]
Investor enthusiasm for the highly anticipated spot Bitcoin ETFs appears to be waning, with Wednesday recording the lowest single day of investor gross inflows since trading commenced on January 11th. According to a report from JPMorgan Chase & Co., the nine newly launched funds collectively received approximately $270 million in inflows on Wednesday. However, after […]
Mastercard has successfully concluded the acquisition of a minority stake in the fintech arm of MTN Group, the continent’s foremost mobile operator. This strategic move, valued at $200 million (R3.8 billion), not only bolsters the valuation of MTN Group Fintech to an impressive $5.2 billion (R99 billion) but also heralds a transformative era for digital […]
In a fluctuating economic landscape, U.S. Treasury yields witnessed a decline on Tuesday, as the trajectory of interest rates and the timing of potential cuts remained uncertain. The 10-year Treasury yield experienced a drop of approximately 8 basis points, settling at 4.087%, while the 2-year Treasury yield also saw a decrease of over 7 basis […]
ICEA Lion Asset Managers (ILAM) has announced that it will delist its Fahari income real estate investment trust (REIT) from the Nairobi Securities Exchange (NSE) main investment market segment on February 12, 2024. This decision follows the resolution by unit holders to delist and subsequent approval of the delisting by the Capital Markets Authority (CMA). […]
In a strategic move set to revolutionize Kenya’s bond market, the Nairobi Securities Exchange (NSE) has secured approval from the Capital Markets Authority for amendments to its Fixed Income Trading Rules. This pivotal development heralds the establishment of a hybrid fixed-income market, blending onscreen and Over-the-Counter (OTC) trading of fixed-income securities. The NSE’s Chief Executive […]
In a decisive move to fortify its economic resilience and reassure international investors, Kenya has finalized a landmark agreement aimed...
A significant trade dispute is brewing between two of the world's largest democracies, India and the United States, as New...
In a strategic move to alleviate its burgeoning debt burden and unlock crucial development financing, Egypt has successfully secured over...
As Kenyans prepare for fresh Saba Saba Day protests on Monday, the government has sounded a strong alarm regarding potential...
