News & Events

African currencies are showing varied trends for the upcoming week. Ghana’s cedi and Uganda’s shilling are expected to strengthen, while Kenya’s shilling and Zambia’s kwacha may weaken. Nigeria’s naira is forecast to remain stable.

Ghana’s cedi, currently trading at 11.70 to the dollar, is predicted to strengthen further, supported by remittance inflows and central bank interventions. The currency has already broken through the key 12.00 level on the interbank market. Uganda’s shilling, quoted at 3,646/3,656 to the dollar, is likely to firm due to month-end foreign-currency inflows from NGOs. Meanwhile, Nigeria’s naira is expected to hold steady around 1,590 to the dollar, benefiting from foreign portfolio inflows and improved crude oil prices. Kenya’s shilling (129.00/50) faces potential weakness due to increased manufacturing sector demand outpacing remittances and NGO salary inflows. Zambia’s kwacha, trading at 27.62 per dollar, is anticipated to remain under pressure amid high foreign-currency demand and limited supply.

These currency movements reflect varying economic conditions and market dynamics across the African continent.

Read the original article here: https://www.msn.com/en-us/money/markets/africa-fx-ghana-and-uganda-currencies-could-gain/ar-AA1Fh3ap?ocid=BingNewsVerp

India’s Bajaj Auto announced plans to take control of Austrian motorcycle maker KTM AG through an €800 million ($906.2 million) debt package. The deal marks a significant shift for Bajaj, transforming its role from a minority investor to a strategic leader in KTM’s operations.

KTM AG, which manufactures KTM and Husqvarna motorcycles, filed for court restructuring in November due to severe financial difficulties. Under the rescue plan, Bajaj Auto has already invested €200 million and will contribute an additional €600 million to settle creditor claims and revive operations. Creditors are expected to receive 30% of their claims in cash by May 23. The Indian motorcycle manufacturer will gain control through its unit, Pierer Bajaj AG, leading to indirect control of KTM’s parent company, Pierer Mobility AG. Bajaj Auto holds a 37.5% stake in KTM through its subsidiary, though the final ownership percentage post-deal remains undisclosed.

The two companies have an existing partnership in India for joint product development. This strategic move aims to align governance and inject fresh capital to restore KTM’s operations.

Read the original article here: https://www.msn.com/en-us/money/companies/india-s-bajaj-auto-to-take-control-of-ktm-with-906-million-debt-deal/ar-AA1FfJV5?ocid=BingNewsBrowse

South African Rayno Nel has made history by becoming the first African champion and rookie winner since 1997 at the World’s Strongest Man competition in Sacramento, California. In a dramatic finale, the 30-year-old former rugby player clinched victory by just half a point over three-time champion Tom Stoltman.

Nel, standing 6’3″ and weighing 326 pounds, dominated the first day of finals but faced his biggest challenges in the final events – the 531-pound Flintstone Barbell and the Atlas Stones. Despite these being his weakest events, he secured a crucial third-place finish in the Atlas Stones to claim the title.

The victory marks the first time in the competition’s 48-year history that the title has gone to a competitor from outside Europe or North America. Nel, who only began competing in strongman events three years ago after his rugby career, credited his success to training at Terence Bosman’s facility near his home in South Africa.

Read the original article here: https://www.msn.com/en-us/sports/other/rayno-nel-wins-2025-worlds-strongest-man-becoming-first-champion-from-africa/ar-AA1F1ikj?ocid=BingNewsVerp