Friday, July 3

Africa

Carbon credits snapped up by Saudi firms in a Nairobi auction.

The demand for carbon offsets is rapidly growing in Africa, unlocking billions for the climate finance needs of economies. Kenya recently hosted a carbon credits auction. The auction is the world’s largest sale, where firms from Saudi Arabia bought more than 2.2 million tonnes of certified carbon credits.

Zimbabwe’s stock market saw huge gains over the last week, investors flock to the stock market in search of a safe haven amidst the rapid depreciation of the Zimbabwean dollar. www.theexchange.africa

The Zimbabwe Stock Exchange (ZSE) on June 7 announced a halt in trading for two consecutive days. This comes amid investors flocking to the stock market as an escape from the rapid depreciation of the Zimbabwean dollar. The ZSE All Share index surpassed the 10 per cent threshold on the upside. Consequently, the ZSE exchange had to take immediate action.

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