News

Goldman Sachs has made a bold prediction for gold in 2025, forecasting the precious metal will rally to a record high of $3,000 per ounce. The investment bank’s analysts see two primary drivers for this potential surge: increased central bank […]

A significant legislative development is underway in Kenya’s financial sector with the introduction of the Business Laws (Amendment) Bill, 2024. This bill aims to empower the Central Bank of Kenya (CBK) with authority to regulate buy-now-pay-later (BNPL) companies, particularly focusing […]

The Weather and Climate Information Services (WISER) in Kenya is set to receive Sh660 million as part of a larger £30 million (Ksh4.8B) WISER Africa program announced by UK Minister for Development Anneliese Dodds. This new funding will support adaptation […]

Bitcoin, the world’s largest cryptocurrency, has been on a remarkable rally, reaching a new record high of $93,000 on Wednesday. This surge in Bitcoin’s price is being attributed to President-elect Donald Trump’s pro-crypto stance and his promise to provide clearer […]

Access Holdings Plc has announced a significant expansion move through its subsidiary, The Access Bank UK Limited (Access UK), which has entered into a binding agreement to acquire a majority stake in Afrasia Bank Limited. Afrasia Bank currently stands as […]

Teraco Data Environments Ltd. is seeking to expand its operations through an 8 billion rand ($442 million) loan, which is being syndicated by Absa Group Ltd. This expansion is driven by increasing demands from artificial intelligence applications in Africa.

Equity Bank Group reported a 13.1 percent increase in profitability to Sh41.9 billion in the first nine months of the year, largely driven by high returns from Kenyan government bonds. The East African region’s second-largest lender by assets shifted its […]

MultiChoice Group, the South African pay-TV company, reported a significant decline in its half-year profit, attributing the 99% drop to a challenging operating environment. The company, which operates DStv across 50 sub-Saharan African countries, faced headwinds from weakening local currencies, […]

The Central Bank of Kenya (CBK) has seen its foreign exchange reserves reach a four-year peak, growing by US$1.97 billion over the past ten weeks as the bank actively purchased excess dollars amid increased supply of the currency. The most […]

Vodacom Group Ltd., Africa’s largest phone company by market value, has reported an 18% decline in first-half net income, primarily due to currency devaluations in Egypt and Ethiopia. The company’s net income fell to 6.84 billion rand ($388 million) during […]