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    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    Deadline for debt exchange program moved to February 7 with new terms

    Government finally makes progress on Debt Exchange Program

    Policy Rate increased by 100 basis points; now at 28%

    Africa loses $88bn annually through illicit financial flows – Akufo-Addo

    AMA to roll out digital revenue collection system in March 2023

    We will not layoff Vodafone staff – Telecel

    Petrol to sell for GHS15 in February – IES

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    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

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    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

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    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

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    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

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Nairobi’s Securities Exchange Bonds market starts year on low note

bycitibusinessnews
February 9, 2016
in Africa
The Nairobi Securities Exchange opened the year on a slower rate compared to 2015.

The Nairobi Securities Exchange opened the year on a slower rate compared to 2015.

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The secondary bonds market at the Nairobi Securities Exchange opened the year on a slower rate compared to 2015, as investors bid heavily for primary Treasury bills.

Meanwhile, the Competition Authority of Kenya is conducting fresh investigation into products’ pricing by Kenyan banks. Aly-Khan Satchu, CEO of Rich Management spoke to CNBC Africa on this.

Read highlights from conversation below

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“I call it the Teflon shilling because everything else is falling apart and the shilling holds its own. And I think that’s an important signal in the noise. I expect the shilling to go into double digits over the next few weeks.”

–          Aly-Khan Satchu, CEO of Rich Management.

“Essentially it’s all about the current account deficit where we’ve had such a dramatic turnaround because of the crude oil price.”

–          Aly-Khan Satchu, CEO of Rich Management.

“On the export side, last year there was quite a good story about tea. Tea exports surged by a big deal and soft commodity prices are a sweet spot in the commodity complex, so even the exports will hold up. Obviously tourism is still a problem but I think that’s bottoming out as well.”

Aly-Khan Satchu, CEO of Rich Management.

Source: CNBC Africa

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