Facing an economic crisis and consequently fewer US dollars and other hard currencies, Egypt floated a three-year sustainability panda bond worth 3.5 billion yuan (US$478 million) in October. Panda bonds – typically denominated in yuan and issued in China by non-Chinese organisations, including governments and corporations – have gained traction as traders and countries seek
NAIROBI, Kenya (AP) — Kenya’s president said Wednesday he won’t sign into law a finance bill proposing new taxes that prompted thousands of protesters to storm the parliament the previous day, leaving several people killed as police opened fire. It was the biggest assault on Kenya’s government in decades. The government wanted to raise funds
KAMPALA, Uganda (AP) — Kenya’s president came to power by appealing to the common people, describing himself as a “hustler” and vowing relief from economic pain. But Tuesday’s deadly chaos in the capital, Nairobi, shows how far support for him has turned. Part of parliament burned as protesters rushed in and lawmakers fled. Bodies lay
NAIROBI, Kenya (AP) — Thousands of mostly young people demonstrated Thursday in Kenya’s capital and across the country against new tax proposals by the administration of President William Ruto in its annual budget legislation. The protests brought Nairobi’s central business district to a standstill as horse-riding riot police threw tear-gas cannisters and opened water cannons
Global issuer-processor, Paymentology, has agreed a strategic partnership with Diamond Trust Bank. The partnership aims to drive financial inclusion in Kenya through the embedding of financial services, and deployment of Cards-as-a-Service (CaaS), for both licensed and unlicensed entities. The bank operates across Kenya, Tanzania, Uganda, and Burundi. It provides banking and insurance solutions to retail,
NAIROBI, Kenya (AP) — When Ademola Adesina founded a startup to provide solar and battery-based power subscription packages to individuals and businesses in Nigeria in 2015, it was a lot harder to raise money than it is today. Climate tech was new in Africa, the continent was a fledgling destination for venture capital money, there