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- Honouring His Highness the Aga Khan IV: A Legacy of Service to the Global Community
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Money Deals
- Within the financial history of Africa, the last 10 years have witnessed a notable surge in the acceptance of Forex CFD trading.
- Technological advancements have become the unsung stars of the Forex CFD trading story in Africa.
- If you wish to get started with Forex CFD trading in Africa – you need a trusted broker with a reputable trading app.
Within the huge financial spectacle, Forex CFD trading is a gripping protagonist that draws traders into its complicated storylines of profit and risk, all set against the dramatic backdrop of a Shakespearean tragedy. With 2024 drawing to a close, it is wise for us to examine critically the story of Forex CFD trading in Africa. Like a rollercoaster journey over the wild landscape of the stock market, each turn offers a unique combination of opportunity and difficulty.
The Rise of Forex CFD Trading in Africa
Within the financial history …
Thanks to virtual dollar cards, residents of African countries find it significantly easier to conduct online transactions on popular digital services and shop on international platforms.
In our article, we explore the top 5 virtual cards on the continent. All of them are characterized by seamless online transactions and enhanced security features. They are easy to use and simple to obtain.
1. PSTNET
FinTech service PSTNET introduces virtual cards compatible with Visa and Mastercard, offering unrestricted global usage. These cards are versatile, catering to various needs. Specialized cards are available, such as those for managing payments for Facebook Ads or Google Ads.
We will focus on the service’s most popular card – Ultima.
Ultima is a 3D Secure virtual dollar card, ensuring all transactions are securely protected. It can be used for payments on platforms like PayPal, Steam, Spotify, Netflix, Patreon, Unity 3D, and app stores such as Google …
Among the various forms of online gaming, which have surged in popularity over the last few years, online slot games stand out as one of the most popular forms of entertainment. Thousands of games, innovative features, and decent chances of winning have attracted millions to the world of online slots. This article provides insights and tips for both new and experienced players.
The Appeal of Online Slots
Several factors contribute to their increasing popularity. First and foremost, their accessibility is one of the main reasons.
Unlike traditional casinos, where players must travel and adhere to opening hours, online slots are available 24/7. They can be played on a wide range of devices, including smartphones, tablets, and computers, providing convenience for players regardless of location. Additionally, the variety offered by online slots is staggering. Developers have pushed the boundaries with different themes, bonus features, and progressive jackpots.
Understanding How Online
…- The IMF anticipates a peak in interest rates at the beginning of 2024, following a slower climb in 2023 across major economies.
- This will likely exert pressure on already struggling currencies across Africa.
- Notably, the US Federal Reserve is expected to witness interest rates reaching around 5.4%, with plans for rate cuts in Third Quarter.
Pressure on the weakening local currencies in African economies may persist for much of this year, with further depreciation against major currencies anticipated until the third quarter.
According to the International Monetary Fund (IMF), their latest interest rates forecast update for major economies covering the period from 2024 to 2028 projects a peak in interest rates at the beginning of 2024. This comes after rates continued to climb at a slower pace late last year.
US Federal Reserve interest rate
For instance, the US Federal Reserve is expected to witness interest rates peaking around 5.4 …
- The AfDB’s mandate for a three-year social bond was announced on Wednesday, 17th January 2024.
- This issuance is a significant highlight amid a dynamic week in the USD SSA markets, witnessing the launch of eight benchmarks totaling US$17.25 billion within a span of two days.
- This new three-year Social Benchmark is the Bank’s first global benchmark of the year.
The African Development Bank has issued its first ever three-year social bond targeting to raise US$2 billion under its recently established Sustainable Bond Framework, which was launched in September 2023.
Set to mature on February 25, 2027, the Sustainable Bond Program seamlessly integrates and strengthens the African Development Bank’s existing Green and Social Bond initiatives, streamlining the issuance of green bonds, social bonds, and sustainability bonds.
This new three-year Social Benchmark is the Bank’s first global benchmark of the year, strategically aligning with the robust reopening of primary markets in January …
- Kenya’s debt repayment in 2023 was majorly from the Consolidated Fund.
- The country has faced liquidity challenges due to uncertainty in accessing funding from global financial markets.
- Analysts, however, maintain that the practice of taking on debt to pay debt is unsustainable.
The National Treasury has revealed that Kenya’s debt repayment surged to $3.69 billion (KSh600.73 billion) by December 2023. Despite an increase in revenue collection, Kenyans found little reason to rejoice as debt consumed 57 per cent of the government’s tax revenues, amounting to $6.14 billion (about KSh1.05 trillion).
Only 43 per cent of the generated revenue remained for development, salaries, and the state’s recurrent expenditure such as paying salaries.
The disclosure, titled “Kenya’s statement of actual revenues & net exchequer issues as of 31st Dec 2023,” signals a need for Kenyans to tighten their belts this year. President William Ruto’s administration anticipates higher repayments due to the devaluation …
- Experts project that Côte d’Ivoire seeks to sell its Eurobond and around 8.50 per cent to 8.75 per cent for a ticket size of between US$1 billion to US$1.25 billion.
- Ghana, Senegal, Nigeria, and Côte d’Ivoire have been key players, with the values of their Eurobond issuances typically ranging from $200 million to $1 billion.
- The annual value of Eurobonds issued by West African governments witnessed a remarkable surge, increasing from $200 million in 2007 to $2.25 billion in 2014.
As the markets open in the new year, all eyes turn to Côte d’Ivoire, which has announced a plan to lead the continent in issuing a Eurobond—the first in Africa after a nearly two-year break.
Positioned on the verge of economic resurgence in 2024, Côte d’Ivoire is poised to become the first sub-Saharan African nation to issue a Eurobond as the global financial markets ease following a period of high …
- Rising volatility in Kenya’s Fixed Income Market derives from a combination of global and domestic factors.
- The yield curve soared fastest at the head and upper belly of the curve, rising by a cumulative 661bps on the three-month treasury bill.
- There is hope as it is anticipated, that a rebound in trading activity will happen in 2024.
The Kenyan Fixed Income Market displayed remarkable flexibility last year to experience one of the most rapid annual increases in yields resulting in a notable inversion of the effective yield curve.
According to financial experts, the rising volatility in the fixed income space derives from a combination of global and domestic factors.
On the external front, the rapid monetary policy tightening in 2022 and 2023 led investors to price-in bearish capital gain expectations for bonds.
On the domestic front, the rising concerns around fiscal sustainability indicators, coupled with an elevated inflationary regime in …
- International Finance Corporation targets specific projects in Côte d’Ivoire, Egypt, Kenya, Morocco, Senegal, and South Africa.
- IFC’s $30 million (Sh4.8 billion), own-account investment will help Africa Infrastructure Investment Fund 4 Partnership (AIIF4) exceed its final close target of $500 million (Sh80.4 billion).
- A pan-African infrastructure private equity firm called the Africa50 Infrastructure Acceleration firm I is raising up to $500 million for investments
Kenya is among six African countries that International Finance Corporation (IFC) will pump $30 million (about KSh4.8 billion) equity investment to fund works on essential infrastructure.
The fund, managed by Africa Infrastructure Investment Managers (AIIM), part of the Old Mutual Group, will support projects in the telecoms, renewable energy, and transport sectors across Africa but with a specific focus on Côte d’Ivoire, Egypt, Kenya, Morocco, Senegal, and South Africa.
In the telecoms sector, the fund will focus on financing data centers, fiber networks, and communications towers. In …