The Africa Finance Corporation , which is owned by Nigeria's central bank and other African financial institutions, has no intention of backing away from fossil fuel investments, a senior executive said on Thursday.
"We cannot and will not run away from doing fossil fuel-based investing because the development needs of the continent are so huge," Sanjeev Gupta, executive director of financial services at the AFC, said at the Reuters IMPACT climate conference in London. The Lagos-based AFC is a pan-African multilateral development institution, with 40 member states. It is 43.1%-owned by Nigeria’s central bank and 42% by other African financial institutions, according to its website.
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Global regulators seek to crack down on decentralised financeGlobal securities regulators set out on Thursday their first blueprint to make participants in 'decentralised finance' (DeFi)accountable for their actions and safeguard market stability. DeFi platforms allow users to lend, borrow and save in digital assets, using the blockchain technology that underpins cryptoassets to bypass the traditional gatekeepers of finance such as banks and exchanges. The collapse of crypto exchange FTX and of the Terra USD stablecoin during 2022 showed how shocks in one part of the crypto market can trigger billions of dollars in outflows from DeFI applications, said IOSCO, the global umbrella body for securities watchdogs from across the world.
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Finance Minister Calls Bank of Canada Rate Hold ‘Welcome Relief’Prime Minister Justin Trudeau’s government praised the Bank of Canada for holding interest rates steady, in a rare public reaction to a monetary policy decision.
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Yahoo Finance LIVE - Sept 6 PMExecutives, experts, and influencers join the Yahoo Finance team to discuss what's moving the world of finance.
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SOMA.finance to launch first U.S. retail-compliant digital securitySOMA.finance is preparing to launch the SOMA Token, the first legally issued and compliantly structured digital security open to global and U.S. retail investors.
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Premiers, finance minister welcome Bank of Canada's interest rate holdCanadian politicians welcomed the Bank of Canada’s decision to hold interest rates, though one economist was skeptical that calls for a rate pause from a handful of premiers across the political spectrum had a real impact on the policy move.
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Canada finance minister defends central bank independence after rate commentIn a widely expected decision, the Bank of Canada held interest rates steady at a 22-year high of 5%. Shortly after that Freeland issued a statement saying the central bank's decision 'is welcome relief for Canadians.'
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