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A court has ruled against Buzeki Enterprises in a debt dispute with I&M Bank. The case stemmed from a business transaction involving the purchase of trucks and trailers. Background of the Dispute Buzeki Enterprises agreed to purchase over 100 trucks and trailers from RT (East Africa) Ltd. and issued promissory notes totaling Sh864.7 million to […]
The World Bank has pledged $400 million to Lesotho to promote inclusive growth within the nation. The commitment aims to bolster human capital development and increase employment prospects. This financial support is intended to facilitate programs focused on enhancing education and skills, alongside fostering an environment conducive to business growth and private sector involvement. Education […]
Pictet, a privately owned wealth manager, has received regulatory approval to establish a representative office in South Africa. The move marks the firm’s first physical presence on the African continent. Assets Under Management Pictet managed 724 billion Swiss francs, approximately $942 billion, in assets at the end of 2024. The firm has a long-standing global […]
A recent survey by EY indicates that a majority of financial services CEOs do not anticipate significant workforce reductions due to the adoption of artificial intelligence. The survey, encompassing 240 CEOs, suggests a shift towards leveraging AI to enhance productivity rather than eliminate jobs. AI and Headcount Projections According to the EY survey, 60% of […]
Nigeria has secured a permanent seat on the Board of the African Central Bank, a development officials say places the nation at the center of efforts to unify monetary systems and strengthen financial governance across Africa. The country also maintains representation on the Board of the Technical Convergence Committee of the African Monetary Institute, a […]
Nigeria secured a permanent seat on the board of the African Central Bank during the ongoing 39th African Union Summit. Foreign Affairs Minister Yusuf Tuggar confirmed the achievement, calling it a significant milestone for Nigeria and the West African region. This year’s summit focuses on assuring sustainable water availability and safe sanitation systems to achieve […]
The Access Bank Africa Trade Conference recently highlighted a shift in perspective regarding Africa’s economic trajectory, moving beyond discussions of potential to a focus on practical execution and building robust trade infrastructure. The conference emphasized the need for African institutions to proactively shape their own trade pathways and establish global standards. Keynote Address and Vision […]
The Bank of Uganda (BoU) has decided to maintain its Central Bank Rate at 9.75% during its Monday meeting. This rate has been consistent since October 2024. Inflation and Monetary Policy BoU Governor Michael Atingi-Ego stated that the current policy remains suitable for supporting economic activity while keeping inflation near the bank’s target of 5% […]
Standard Bank Corporate and Investment Banking will host the second annual African Markets Conference in Cape Town, South Africa, from February 22 to 24, 2026. The event aims to connect global institutional investors, sovereign wealth funds, and African policymakers to encourage investment in key sectors across the continent. Luvuyo Masinda, Chief Executive of Corporate and […]
The Economic Community of West African States (ECOWAS Commission) and the African Development Bank (AfDB) recently concluded a high-level consultation meeting focused on extending the Regional Integration Strategy Paper (RISP) for West Africa. The current RISP’s term ends in December 2025. Meeting Overview The three-day meeting took place from February 4 to 6, 2026, at […]