The country is one of the world’s poorest, with income per head estimated at US$678 in 2022 (up from US$501 in 2010). Across the country, an estimated two-thirds of households are impacted by food insecurity.

Eritrea has a Human Development Index (HDI) of 0.459 as of 2022, which puts it among the 15 least-developed countries on the planet.

The HDI measures average achievement in key dimensions of human development: a long and healthy life based on life expectancy at birth, knowledge based on expected years of schooling and a decent standard of living.

Mauritius, Seychelles and Algeria are the top three African countries with high HDIs of 0.804, 0.796 and 0.748, respectively, while Central African Republic, Niger and Somalia tail with very low HDIs of 0.397, 0.394 and 0.361, respectively.

Conventional finance theory will advise that raising capital on the public markets can be an uphill task when an economy is slowing. A booming economy characterized by low-interest rates with increasing growth rates is the most conducive for an equity offering, more so an initial public offering. A further stroke of genius on the part of Volkswagen and Porsche is that the equity offering comprised preference shares.

The preference shares comprise 12.5% of the issued share capital of Porsche.

This is a stroke of genius in the sense that preference shares, by their nature, resemble fixed income security which would be in high demand in the current environment where interest rates are elevated or are on the upward path. The preferred share component of the IPO must have been appealing and contributed to the offering being oversubscribed.

Preference shares are shares that generally carry with them voting rights and accrue a fixed dividend rate like a fixed income investment instrument. Other features of preference shares vary according to the company laws of a particular jurisdiction. The nature of the offering also betrays the desire of management to retain management and strategic control of Porsche.

KCB Bank Kenya and BasiGo Ltd have partnered to offer the bank’s customers access to…

Business activity in Kenya increased in September, helped by the conclusion of the general election …

The agricultural transformation in Sierra Leone has demonstrated that delivery changes in traditional sectors may significantly impact food production when implemented effectively and under the appropriate circumstances.

This will make it the fifth stock to list on the USD exchange joining SeedCo International, Padenga Holdings, Caledonia Mining Corp and Bindura Nickel Company and might provide the necessary momentum the exchange desperately needs.

The VFEX is a subsidiary of ZSE that was established some two years ago to exclusively trade in foreign currency and position itself as a regional offshore capital market to attract global investors.

The group operates a network of 524 owned restaurants under Chicken Inn (140 restaurants), Pizza Inn (129), Creamy Inn (87), Bakers Inn (58), Galito’s Africa (36), Nando’s (14), Steers (9) and other (51) brands such as Rocomama’s (Zimbabwe Only) and Vida E Caffé, located in Zimbabwe, Kenya, Zambia, Ghana, Mauritius and Namibia. Simbisa listed on the ZSE in 2015.