Markets
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Jumia Growth Stalls as it Moves to Raise $100 Million in Secondary Shares
New York-listed African e-commerce company Jumia is planning to sell 20 million American depositary shares over the next couple of…
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Standard Bank Kenya Sees Tough Second Half Amid Protests
Stanbic Holdings Plc said Kenya’s credit rating downgrade and uncertainty caused by weeks of protests made for a tough banking…
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Ecobank Group’s Profit Before Tax Up $324 Million in HY 2024
The pan-African banking group Ecobank Transnational Incorporated (ETIT) increased its net revenues to $994 million and its profit before tax…
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Emerging Market Stocks Rebound After Monday’s Losses
Emerging market assets recovered some of their losses on Tuesday following a significant sell-off the previous day. Gains were limited…
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Kenya’s Central Bank Cuts Benchmark Interest Rate in Four Years
The Central Bank of Kenya (CBK) has cut its benchmark interest rate for the first time in over four years.…
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Fitch Downgrades Kenya’s Long-Term Foreign-Currency Rating to ‘B-‘
Fitch Ratings has downgraded Kenya’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B-‘ from ‘B’, while maintaining a Stable Outlook.…
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Mobius Motors to Cease Operations in Kenya Following Shareholders’ Decision
Kenyan vehicle manufacturer Mobius Motors is set to close its operations in Kenya after shareholders approved a plan to place…
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Bank of England Cuts Interest Rates to 5% for First Time Since 2020
The Bank of England (BOE) has lowered interest rates for the first time since early 2020, a move seen as…
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Adani Reports 115% Surge in Quarterly Profit Amidst Business Expansion
Adani Enterprises Ltd., led by billionaire Gautam Adani, reported a 115% increase in quarterly profit, driven by growth in its…
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NSE Inaugurates Islamic Linzi Sukuk Bond
The Nairobi Securities Exchange (NSE) has officially launched the Linzi Sukuk bond on its unquoted securities platform. The event, held…
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