Ethiopia is preparing to introduce its local currency securities exchange platform next year, and as part of that preparation, it plans to loosen its prohibitions on foreign involvement in its domestic financial markets. Over the past two years, the nation has allowed foreign companies to participate in its banking and telecommunications sectors, enabling Kenyan banks […]
Ross Gerber, president and CEO of Gerber Kawasaki Wealth & Investment Management who has for years vocally supported Tesla stock as an investor himself and an advisor, told CNBC Thursday Musk has “already stepped aside” as CEO of the electric car company. Although Musk has not actually stepped down from the role, Gerber said his […]
The UK Supreme Court decided on Wednesday that an asylum agreement with Rwanda was illegal, noting the likelihood that refugees transported to Kigali may be repatriated to the countries from which they fled, subjecting them to even more harsh treatment. The five members of the Supreme Court ruled unanimously on Wednesday that the Court of […]
The Indian wings of the three tech titans—Apple, Google, and Amazon—are currently under the scrutiny of the Income Tax Department. The probe, initiated in 2021, focuses on possible tax evasion committed by these multinational corporations. The crux of the investigation lies in their transfer pricing practices, which have come under the department’s lens. Transfer pricing—the […]
The Nigerian government has revealed that Nigerians will be required to spend between N300,000 and N600,000 for the conversion of their petrol vehicles to Compressed Natural Gas (CNG). This was revealed by the Chief Executive Officer of the Presidential Compressed Natural Gas Initiative (P-CNGi) Steering Committee, Engr. Michael Oluwagbemi in an interview with Daily Trust. […]
Britain’s sluggish economy failed to grow in the July-to-September period but at least managed to avoid the start of a recession, figures from the Office for National Statistics showed on Friday. The 0% change in gross domestic product in the third quarter compared with a forecast for a 0.1% fall in a Reuters poll of […]
From 1 December, Discovery Bank clients using physical credit cards – i.e., plastic – will earn a so-called “base rate” of just 1 Discovery Mile for every R100 spent, regardless of the type of account they hold or their Vitality Money status. The changes were announced by the bank in the past week. It says […]
President William Ruto has announced that Kenya will repay $300 million of its $2 billion Eurobond in December, ahead of its June maturity date. The decision to repay the Eurobond comes after Kenya explored funding options, including seeking support from multilateral lenders such as the IMF and World Bank, and considering syndicated loans to facilitate […]
When you look around Africa, you see several foreign car brands on the roads. It has been like this for years due to the continent’s large dependence on imported cars from Europe, Asia and America to meet its mobility needs. Africa imports four times more automotive products than it exports, with automotive imports worth US$52 […]
The Africa Development Bank (AfDB) has announced the launch of the Special Agro-Industrial Processing Zones Alliance (SAPZ), a groundbreaking project aimed at mobilizing at least $2 billion in financing and investment commitments from its members and partners over the next five years. The Special Agro-Industrial Processing Zones Alliance was launched at the ongoing Africa Investment […]