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Finance
Future of BRICS Currency: Exploring Alternatives in Global Finance
- Cedric Malan
- Dec 7, 2024
Finance Minister Enoch Godongwana recently confirmed that no discussions about the creation of a new currency among the BRICS nations have taken place. While there is much interest in moving away from the U.S. dollar, tangible plans to develop an alternative financial system or currency remain distant. The New Development Bank's priority currently lies in expanding its membership and focusing on climate-project lending.
Finance
JPMorgan Chase Establishes Kenya Office Following Regulatory Approval
- Cedric Malan
- Oct 15, 2024
JPMorgan Chase has received approval to establish a representative office in Kenya, marking the end of a 12-year regulatory delay. This move signals the bank's intention to expand its operations within Africa. The CEO of JPMorgan, Jamie Dimon, is expected to visit Kenya as part of a wider tour across four African nations, aiming to strengthen the bank's foothold on the continent. This development highlights Kenya's status as a critical financial services hub.