Online retail forex trading has seen great growth globally over the past decade. This growth has primarily been driven by advancements in technology, increased internet penetration, and a growing interest in financial markets. Africa, with its youthful population, presents a promising landscape for the forex trading industry. Its expanding digital infrastructure also presents a great scene for the growth of forex trading in the region. This article will look at online retail forex trading in Africa to see where we stand. Let’s jump in.

What is Retail Forex Trading?

Forex trading is the exchange of national currencies, one against another, in an attempt to make a profit. It is the largest financial market in the world with participants of all kinds. Retail forex trading is usually done by individual traders who buy and sell currency pairs for their personal accounts. They usually trade in small order sizes at a …

• In Kenya, 37,000 metric tonnes of plastic get into the Indian ocean annually causing devastating disruption in our marine ecosystem.
• The successful innovations developed through the Afri-Plastics Challenge have paved the way to revolutionise Africa’s approach to reducing reliance on plastic.
• Out of the 9 shortlisted start-ups, five were women-led, and two from Kenya won a total of £500,000.

Kenya scored big at the inaugural Afri-Plastics Summit & Awards ceremony when five out of a total nine start-ups scooped £2M as part of the Afri-Plastics Challenge, a continent-wide plastics innovation challenge worth £4.1M.

The awards were the culmination of a four-year initiative designed by Challenge Works and funded by Global Affairs Canada to recognize trailblazing innovators that are tackling the global plastics problem and protecting the ocean. Out of the 9 shortlisted start-ups, five were women-led, and two from Kenya winning a total of £500,000, demonstrating the role women play …

• East Africa’s notable company mergers and acquisitions have been recognised at this year’s DealMakers AFRICA Awards
• DealMakers AFRICA tasked advisory firms to nominate and submit notable mergers and acquisitions for two categories, namely East Africa’s deal of the year and East Africa’s private equity deal of the year
• DealMakers AFRICA ultimately picked KCB Group’s acquisition of Trust Merchant Bank (TMB) as the region’s deal of the year
• DealMakers AFRICA named Naivas’ stake exit the region’s Private Equity Deal of the Year

East Africa’s notable company mergers and acquisitions have been recognised at this year’s DealMakers AFRICA Awards gala held in Nairobi, following a two-year break of a physical event due to COVID-19 restrictions.

The awards ceremony, held at Villa Rosa Kempinski, also recognised advisory firms that were involved in the execution of the mergers and acquisitions and general corporate finance. The firms were contracted either as financial advisers, legal advisers …

• Silicon Valley Bank (SVB) was the 16th largest bank in the United States catering for the financial needs of technology companies around the world.
• The risk of a ripple effect impacting the global financial system is high.
• The US government has moved quickly to salvage the bank and safeguard deposits   

US-based Silicon Valley Bank (SVB) was the 16th largest bank in the United States catering for the financial needs of technology companies around the world.

SVB’s woes started when the US reserve bank hiked rates to mitigare inflation pressures. The bank had a significant portfolio of government bonds whose prices fall when interest rates are jerked

The Guardian explains that, “If SVB were able to hold those bonds for a number of years until they mature, then it would receive its capital back. However, as economic conditions soured over the last year, with tech companies particularly affected, many of the …

• Quickmart Supermarket has opened a new outlet along the Northern Bypass Road, bringing its number of operating outlets countrywide to 56 amid rapid growth in Kenya’s retail sector
• The desire to cater to the convenience preferences of shoppers within the residential locality influenced the decision by the Kenyan retailer to open a 24-hour store in Thome
• The move is part of an aggressive expansion drive to promote the Quickmart brand as a household name among customers and increase its competitiveness against other retailers such as Naivas and Carrefour

Quickmart Supermarket has opened a new outlet along the Northern Bypass Road, bringing its number of operating outlets countrywide to 56, even as Kenya’s retail industry continues to see significant growth movements by various retailers as they strive for market supremacy.

The desire to cater to the convenience preferences of shoppers within the residential locality influenced the decision by the Kenyan retailer …

• Kenya’s ultra-wealthy performed better than their counterparts elsewhere in the world in 2023 
• The world’s wealthiest saw their fortunes slashed globally by 10% in 2022 owing to challenges including post-pandemic property price falls, soaring energy prices, and surging inflation 
• Africa’s super wealthy saw the lowest losses, recording an overall drop of just 5%

Kenya’s wealthy fared better than the wealthy anywhere else in the world during the economic turmoil of 2022, retreating from international citizenships and foreign property in favour of Kenya and Africa as safe havens.

This is according to the 2023 attitudes survey issued with Knight Frank’s annual Wealth Report. As per the survey, the world’s Ultra-High Net Worth Individuals (UHNWIs) saw their fortunes slashed globally by 10% in 2022 on a cocktail of post-pandemic property price falls, soaring energy prices, falling stock markets, and surging inflation and interest rates.

The super-wealthy in Europe were by far the …