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Rough waters: EAC firms brace for costly imports as freight ships shun Red Sea

East African countries have been hit hard by higher freight costs and longer cargo delivery time, as Yemen’s Houthi rebels step up attacks on ships traveling through the Red Sea to the western end of the Indian Ocean. Ports in Kenya and other East African ports should expect slower business in the immediate future as […]

Dutch king makes historic apology for his country’s key role in global slavery trade

Dutch King Willem-Alexander apologized on Saturday (1 June) — the day to remember the 160th anniversary of abolition of slavery in the Netherlands — for his country’s role in slavery, acknowledged that racism is still a problem and asked for forgiveness in a historic speech. The Netherlands formally abolished slavery in its colonies in 1863, […]

Morocco to issue dollar-denominated bond in 2023- Central Bank

Morocco would issue a dollar-denominated bond in 2023, the first since 2020, the central bank said. Morocco has yet to recover its investment grade although its most recent foreign debt issue was successful. Domestically, central bank official Youness Issami said the central bank has proceeded to purchases of treasury bonds for the first time The […]