The World Economic Forum, with support from the Government of the United Arab Emirates, along with more than 20 corporate and research partners in the food sector, launched today the First Movers Coalition for Food. The initiative uses the combined procurement power for sustainably produced farming products to speed up the adoption of sustainable farming, […]
Emerging markets are gearing up for their biggest election year in decades, with investors focused on fiscal discipline and populist shifts that could stir markets and blur the outlook for some key economies. Countries home to more than half the world’s population and accounting for more than 60% of global economic output go to the […]
South African private sector activity shrank in December as companies signalled a greater impact on business amid the gridlock problems afflicting the country’s ports, a survey showed on Thursday. The S&P Global South Africa Purchasing Managers’ Index (PMI) fell to 49.0 in December from 50.0 in November. A reading above 50 indicates growth in activity. […]
The BRICS group will double its membership on January 1, as the UAE, Saudi Arabia, Egypt, Iran and Ethiopia join the alliance, South Africa’s envoy to the bloc has confirmed, according to a Bloomberg report. The five existing members of the alliance, Brazil, Russia, India, China and South Africa, had invited six new countries to […]
ABUJA, Dec 29 (Reuters) – Nigeria’s foreign exchange reserves dipped to a six-year low of $32.87 billion at the end of December, data showed on Friday, as the central bank sold dollars to try to prop up the ailing naira currency. A backlog of unsettled forwards, undelivered promises of dollar inflows and a two-decade peak […]
An $11 billion damages bill against Nigeria for a collapsed gas processing project which was procured by bribery has been thrown out by London’s High Court. The West African country was on the hook for the sum – representing around a third of its foreign exchange reserves – after a little-known British Virgin Islands-based company […]
I&M Group is seeking to recapitalise its Ugandan unit by injecting Ush30 billion ($7.89 million) to shore up its lending business and comply with the Bank of Uganda’s new capital requirements. The lender also looks to expanding its footprint in the Democratic Republic of Congo (DRC), the large market of which lenders across the region […]
The Central Bank of the UAE (CBUAE) has amended the Finance Companies Regulation following global shifts in consumer financial trends and the growing popularity of “Buy-Now, Pay-Later” credit products and services. The revised regulation entails that short-term credit can be carried out by entities operating as agents of licensed banks or finance companies, following the […]
A Rwandan investor has won a spirited legal battle in Kenya over the ownership of a Ksh400 million ($2.6 million) online company, which he had been defrauded by a Kenyan trader. In the historical judgment, which lawyers say will restore and woo back investors who had run away due to corrupt dealings, Desire Muhinyunza, has […]
through IBN , Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech” and/or the “Company”), a technology company whose custom-developed Fr8App is an industry-leading freight-matching platform powered by AI and machine-learning as a real-time portal for B2B Provides. USMCA, cross-border shipping and domestic shipping within the region, today announces the conversion of convertible debt into equity by investors. […]