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Ousted Zimbabwe Finance Minister Chombo In Court To Face Corruption Charges

Ousted Zimbabwe Finance Minister Chombo In Court To Face Corruption Charges

Former Zimbabwe finance minister Ignatius Chombo, who was among those detained by the military when they seized power before Robert Mugabe resigned this week, appeared in court on Saturday to face corruption charges. This was Chombo’s first public appearance since he was detained almost two weeks ago. He had no visible injuries and appeared calm, […]

South Africa’s Rand, Bond Add To Losses On Budget Shock

South Africa’s Rand, Bond Add To Losses On Budget Shock

South Africa’s rand extended losses in early deals on Thursday, a day after Finance Minister Malusi Gigaba flagged weaker growth expectations and rising government debt in his budget speech.   At 0624 GMT, the rand traded at 14.1600 versus the dollar, 0.73 percent weaker from its New York close on overnight. Gigaba said in his […]

Rant Of The Day – I Want To Blow

Rant Of The Day – I Want To Blow

Welcome to the rant column ”I want to blow. I want to make it. I want to hit it. I want to make 10million dollars in one night. I want the world to hear me and after I blow? The people must know. They will know that I have arrived. My wings must soar above […]

Rant Of The Day – Sister, Do You Still Want The Change?

Rant Of The Day –  Sister, Do You Still Want The Change?

Welcome to the rant column Bus Conductor : Enter with your change o Passenger : Please, I don’t have 100naira, I have 90 naira Bus Conductor : Come down! Get down. If you no get 100naira. get out. {leave if you don’t have the exact t-fare} Passenger : Calm down. Please na, Na only 10naira.  […]

No Escape From Mugabe’s Madhouse Market for Big Money Managers

No Escape From Mugabe’s Madhouse Market for Big Money Managers

Robert Mugabe’s latest economic experiment is making Zimbabwe’s stocks the world’s best performers for all the wrong reasons. And there’s little foreign investors like Franklin Templeton, JPMorgan Chase & Co. and Allan Gray can do to escape: it’s practically impossible for them to pull out their money. Economic chaos has been a regular feature of investing […]

America Again Owes More Money To China Than Any Other Nation

America Again Owes More Money To China Than Any Other Nation

China’s vast holdings of U.S. government debt jumped $44 billion to $1.15 trillion in June, according to U.S. Treasury Department data. That took China above Japan, which offloaded $21 billion in U.S. bonds in the month. Japan had held the position of Uncle Sam’s biggest creditor for the previous eight months, but Beijing’s renewed appetite for […]

Rant Of The Day – All For The Money

Rant Of The Day – All For The Money

Welcome to the rant column I am tired of listening to these young men talk about women and money. Saying all they want is get your money. Please, how much is this money we are talking about? How many women have the time to get into your money and what’s the worth sef? Men that […]

Kenya Shilling Firms After Peaceful Election

Kenya Shilling Firms After Peaceful Election

The Kenyan shilling strengthened against the dollar on Wednesday as early results from a peaceful election showed President Uhuru Kenyatta in a commanding lead, traders said. At 0657 GMT, commercial banks quoted the shilling at 103.70/90 per dollar compared with 103.95/104.05 at Monday’s close. Markets were closed during Tuesday’s session as Kenyans voted for president […]

Intimidation Tactics Gagging Traders in Kenya’s Currency Market

Intimidation Tactics Gagging Traders in Kenya’s Currency Market

Kenya’s central bank is taking an unusual approach to protecting its currency: intimidation. Monetary authorities in Nairobi have been cracking down on selling, hedging and even making bearish predictions, according to traders and analysts. In a sign of the skittishness, none of 12 market participants contacted by Bloomberg spoke on the record, citing possible retaliation. […]

South Africa’s Rand Gains On Risk Appetite, Stocks Set To Slip

South Africa’s Rand Gains On Risk Appetite, Stocks Set To Slip

South Africa’s rand gained in early trade on Monday on improved appetite for riskier assets while stock futures pointed to a slightly lower open on the main bourse. At 0650 GMT, the rand traded at 12.7600 per dollar, 0.43 percent stronger than its Friday close. Last week’s low of 12.79/$ offers support. Fitch and S&P […]

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