The Central Bank of Kenya announced the issuance of the Foreign Exchange Code (the FX Code) on March 22, 2023, to commercial banks, in a move to regulate wholesale transactions of the foreign exchange market in the country. The measure is in response to the wide variation of exchange rate spread in the market, as discussed in our currency review note, and comes as a control measure following the dollar shortage witnessed in February and March. Kenya’s forex reserves have been declining, coming in at USD 6.6 bn as at March 23 2023, equivalent to only 3.7 months of import cover and below the…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Are you looking for the right online casino in South Africa but need help knowing where to start? Worry no more! Here are some helpful tips for choosing the perfect online casino for gaming. Look for a licensed and regulated casino The first and most important factor to consider when choosing an online casino is its license and regulation. A licensed casino is authorized by the relevant authorities and is held accountable for providing fair and safe gaming to its players. You will find the license at the footer of any licensed platform. A regulated casino is closely monitored and audited by…
Fintech has played a significant role in democratising access to financial services across Africa in the past decade. Improved access includes the usability and quality of these services, with most fintech solutions targeting the underserved population, including the youth, women, low-income earners, rural communities, and SMMEs. These groups have faced many barriers to accessing banking, credit, savings and investment solutions from large banks and other financial institutions. By solving some of Africa’s biggest challenges, we are creating impact and new business models, markets and sectors that will deliver positive commercial outcomes. According to the IFC, in 2011, only 23% of Africans…
Amapiano is arguably South Africa’s hottest cultural export right now, and to showcase the genre, Spotify is hosted media and influencers from across the continent on an Amapiano Tourism experience (#SpotifyAmapianoTour), which shares the roots of the genre, the power of collaborations and how streaming is helping to export local music to the world. Designed around some of Spotify’s most popular Amapiano playlists, the tour highlights South African and Amapiano culture for guests from Nigeria, Kenya, Ghana and South Africa. In partnership with South African Tourism, it started with Amapiano 101- detailing the background of the genre and giving guests…
As the second leg of the UEFA Champions League Round of 16 approaches, it’s time to get your betting skills in shape. With some exciting and competitive matchups on the horizon, there are many opportunities to profit from your wagers. Whether you’re an experienced bettor or just getting started with sports betting, this article will provide tips and strategies for making the most out of your bets and maximizing your chances of winning. We shall discuss strategies for different types of bets, such as single-game bets and accumulators, and advice on which teams are worth backing this season. So read…
Bamburi Cement has appointed Mohit Kapoor as the new Chief Executive Officer (CEO), effective April 1, 2023, following the exit of Seddiq Hassani after five years at the helm. “In an era of socioeconomic, environmental, and innovation disruptions, Kapoor’s extensive experience with Lafarge and Holcim, as well as his track record of brand building, innovation, and operational efficiency, have uniquely primed him to lead Bamburi Cement and the team into its next phase of growth,” said Bamburi Cement chairman John Simba. https://twitter.com/BamburiCement/status/1639151354084982784?s=20 After joining Bamburi on February 9, 2018, Mr Hassani’s initial four-year tenure ended ahead of schedule last year. However, he was granted…