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Column 03 · Nova Observatory

Counterweight

Contrarian readings of the consensus narrative.

4 editions · weekly cadence
  1. № 04
    19 May 2026
    A. Mbaye
    8 min

    Why Aspora's $500M valuation isn't the model

    Aspora is being celebrated as a diaspora-finance template. Its unit economics, license stack, and corridor concentration suggest otherwise.

    Read →
  2. № 03
    12 May 2026
    P. Renault
    7 min

    No, the BIS is not warning against stablecoins. Read it again.

    The latest BIS quarterly is being cited as a stablecoin downgrade. The actual text says something narrower — and more interesting.

    Read →
  3. № 02
    5 May 2026
    A. Mbaye
    10 min

    The "diaspora bond" revival is mostly bond-issuer marketing

    Ethiopia, Kenya and Nigeria have re-floated the diaspora-bond idea this year. The 2008–2016 data set says investors do not want them.

    Read →
  4. № 01
    28 Apr 2026
    P. Renault
    8 min

    AMF's SCPI rule is not the consumer-protection win it is being sold as

    The April 2026 SCPI guidance closes one loophole and opens two. We read every paragraph so non-resident subscribers don't have to.

    Read →
About this column
Signed by the named author or desk. Each edition is reviewed against Nova Observatory editorial standards. Corrections are logged with timestamp on /method.