On today’s show BlackRock seeks to invest in the Kenyan Stock Market. Boeing CEO resigns after a crisis with the risk of the safety of the airplanes escalating and also Taiwan chipmakers return to work after that massive earthquake experienced earlier in the month. BlackRock, the world’s largest asset management company has decided that they will be moving some allocations from their portfolio into the Nairobi Securities Exchange. The Nairobi Securities Exchange was considered the worst performing exchange in 2023, but things have turned around for them within the first quarter of 2024. Along with that, there was also a change in policy surrounding the economic conditions in Kenya that was made by President William Ruto’s administration. Kenya is currently trying to be more attractive to foreign investors through controlled borrowing and severe measures imposed. Kenya is seen as a powerhouse across the East African region, being the main choice for international events, organizations and home to some of the most profitable companies across Africa. Blackrock has about $9 trillion dollars in managed funds and Kenya was one of 10 countries selected as a means to diversify from the US and other main traditionally targeted markets. So the news would be much welcomed to the Kenyan economy and along with it would bring new interest, and restored confidence with the government and the economy as a whole. Boeing CEO, Dave Calhoun will step down from the company at the end of 2024 after a disastrous release to the 737 max 9 aircrafts. Boeing has had a troubled few years being responsible for majority of airline passengers safety being put at risk and also loss of lives. Things took a tumultuous turn when Alaska Airlines had to ground a flight shortly after take off due to a loud explosion heard in January 204. Since then the pressure has really been on the aircraft manufacturer who has now lost trust by both regulators and consumers alike. Boeing is currently trying their very best to fix safety and quality problems after their most recent incident back in January 2024. The airplane manufacturer is currently in talks to purchase Spirit Aerospace as it tries to get more control over their supply chain. Taiwan has experienced their largest earthquake for the first time in 25 years. The city of Hualein had reported a 7.4 magnitude earthquake killing at least 9 persons and injuring over 900 more. Workers in Taiwan Semiconductor Manufacturing Company (TSMC) have all resumed work. When the earthquake struck, a few offices actually evacuated and others were closed for the day. Inspections were done within the buildings and the workers were then granted permission to resume working. Want to get in touch with us? Send us an email at: [email protected]