Africa’s digital payments economy is set to grow from strength to strength according to a Mastercard-commissioned report by Genesis Analytics stating that the digital payments economy is expected to reach $1.5 trillion by 2030. As a longstanding technology partner to Africa, Mastercard continues to strengthen its commitment to the continent’s digital growth through strategic investments, […]
Ghana is strengthening its collaboration with international partners to enhance its small-scale gold mining (ASGM) sector and the broader gold value chain for socioeconomic development. The Ashanti Green Initiative, led by Oheneba Kwaku Duah, Prince of Ghana’s Ashanti Kingdom, is spearheading the inaugural Mining in Motion Summit in partnership with the World Bank and the World […]
The UAE has committed to a 10-year, $1.4tn investment framework in the United States after top UAE officials met President Donald Trump this week, the White House said on Friday. The framework will “substantially increase the UAE’s existing investments in the US economy” in AI infrastructure, semiconductors, energy, and manufacturing, the White House said in […]
If there’s one thing market participants don’t like, it’s uncertainty. But that’s just what there’s plenty of at the moment, given the unclear outlook for the global economy because of a potential full-blown trade war, or for the U.S. economy amid mass federal layoffs. In response to abrupt moves by the administration of President Donald […]
The Ethiopian Capital Market Authority (ECMA) has licensed five new capital market service providers, including Ethiopia’s first investment banks, in what it described as a “significant step” for the country’s financial sector. The licensing, granted on March 21, increases the total number of licensed service providers from four to nine, according to ECMA. The newly […]
Aircraft lessor Air Lease Corp said on Monday it has received $328.5 million in cash, as part of certain insurance settlements related to its aircraft which were blocked from leaving Russia after the country’s invasion of Ukraine. Before the invasion in early 2022, Russia was a key market for aircraft lessors, who purchased jets from […]
Shares of James Hardie Industries fell sharply in premarket trading Monday after the company said it would acquire outdoor living products maker AZEK in an $8.75 billion deal. Shares of James Hardie fell 11% ahead of the morning bell at $26.00. AZEK’s stock jumped nearly 19% to $49.12 a share. Late Sunday, James Hardie said […]
FuriosaAI, a South Korean AI chip startup, has rejected an $800m acquisition offer from Meta Platforms, in order to remain as an independent company. The latest decision was influenced by differences in business direction and organisational composition, rather than price. FuriosaAI plans to continue its growth trajectory independently to bolster its position in the AI […]
Profit at Geely Automobile Holdings, China’s second-largest carmaker, more than tripled last year on the back of a surge in electric vehicle (EVs) sales and an investment gain from asset disposals. The company’s 2024 profit jumped 213 per cent from a year earlier to 16.6 billion yuan (US$2.3 billion), with sales increasing 34 per cent […]
The dollar climbed on Friday against major peers, including the euro, which was set for its first weekly drop this month, as a busy week for central banks wrapped up and caution remained about the impact of a global trade war. The U.S. dollar index, measured against a basket of six counterparts, was 0.19% higher […]