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Articles by Ryan Hesketh
Bangladesh Sets Death Penalty for Online Drug Crimes
On 16 August 2026, an officer from Bangladesh’s Department of Narcotics Control (DNC) posed as a customer and ordered three bottles of “CBD oil” from Daraz, the country’s largest online shopping marketplace. A delivery rider carried the parcel to Topkhana Road in central Dhaka, where officers searched it and questioned him. The driver said he had no idea what he was carrying. With nothing tying him to the trade, officers let him go.
International Aid is Paying for Drug-Related Executions, Even as it Cuts Harm Reduction
On the surface, international aid seems like a noble cause. International aid is defined as money administered with the promotion of the economic development and welfare of developing countries as its main objective. But a new report called Aiding Executions?’, published in June by Harm Reduction International and the Institute for Journalism and Social Change, may challenge that definition.
Exclusive: How Bolivia’s Drug Laws Enable Sexual Torture
She had done nothing but leave a nightclub. In September 2023, in Santa Cruz de la Sierra, a young woman was stopped by police who said she smelled of cannabis. She was driven to a station and locked in a cell alone. Before the night was out, an officer had demanded money she did not have, ordered her to undress, and raped her. She was let go, her abuser able to victimise her unchallenged because of the faint whiff of a controlled substance.
‘Not in the Room’: Nigeria’s New Harm Reduction Masterplan Excludes Reformers
Nigeria is currently finalising the document that will shape its drug policy for the next five years. The fifth National Drug Control Master Plan (NDCMP), covering 2026 to 2030, is expected to be published imminently. It will determine how the country’s 14.3 million people who use drugs live, face law enforcement, and possibly receive meaningful harm reduction services.
Bolivia Borrows Trump’s ‘Narco-Terrorist’ Label For Protestors
On 8 June, riot police fired tear gas through the streets of La Paz as protesters hurled stones and firecrackers back at them. Miners wielding dynamite clashed with officers outside the presidential palace. Bolivians were protesting an economic crisis, their worst in living memory. The government responded with borrowed rhetoric, eventually declaring a national emergency on 20 June.
‘Now It’s Our Time’: South African Coalition Launches Decriminalisation Push
A new coalition will launch on 26 June with a simple demand: end the criminalisation of drug use in South Africa. In a country beset by collapsing harm reduction infrastructure, an HIV crisis, and entrenched political resistance, the Vusubuntu Decriminalisation Coalition says that the time is ripe for change. “If you are using drugs in South Africa, you are almost not considered to be human,” according to Phanini Lebise, a member of Vusubuntu’s steering committee.
20 Years After Reform, Can Mauritius Build on its Harm Reduction Legacy?
Mauritius’ latest National Drug Control Master Plan for 2026–2030 (NDCMP), published in April by Prime Minister Dr Navinchandra Ramgoolam, is a hopeful and genuinely ambitious plan by any international standard. Harm reduction is referenced throughout with policies including naloxone distribution, take-home methadone, and the opportunity for people caught with drugs for personal use to enter rehabilitation rather than face prosecution.
‘It’s a Calamity’: How Trump’s Aid Cuts Collapsed South Africa’s HIV Services
At the beginning of 2025, bright white trucks would rumble into communities across South Africa on a set day each week. The trucks had fridges, medication, and staff who knew the people in need. People who use drugs, sex workers, people living with HIV; everyone knew when and where the trucks would be arriving. The trucks were Anova mobile clinics that provided HIV testing, support and counselling services, and for these people, they were a lifeline.
Could Underwater Autonomous Robots Save Coral Reefs?
Reef restoration is a slow process, with divers planting coral fragments one at a time by hand. But roboticists are now developing automated planters that could change the game On Isla Grande, a bone-white island in Colombia’s Rosario archipelago, diving guides have gone out almost every day since 2018 to plant coral seedlings.
Trump’s “Narco-Terrorism” Operations in Ecuador: A New Phase of the Donroe Doctrine?
On 3 March 2026, US Southern Command, the military unit overseeing operations in Central and South America, announced via X that “decisive action” had been taken against “domestic terror organisations” in Ecuador to combat “illicit drug trafficking”. Ecuador’s defence ministry said details were classified.
Ghana's New Cannabis Market: Open for Foreign Investment
In February 2026, Ghana’s Narcotics Control Commission (NACOC) announced plans to begin implementing a licensing regime for the cultivation and processing of medical and industrial cannabis, following Parliament’s long-awaited approval of the regulatory and cost framework.
30-Year Minimum: Sierra Leone New Drug Laws Are Some of the World's Toughest
On 1 December 2025, Sierra Leone quietly implemented what may be one of the world’s most punitive drug enforcement measures. Chief Justice Komba Kamanda issued a practice directive mandating that all drug cases be tried in High Court with no bail and a minimum 30-year prison sentence—even for first-time offenders. The directive applies to anyone charged under Sections 7(a) to 7(c) of the National Drugs Control Act 2008, covering essentially all drug related crimes, no matter their severity.
Trezor vs. Ledger: Which Cold Wallet Wins?
Published: │ 2:00 PM GMT Created by Gabor Kovacs from DailyCoin Is your crypto truly safe? Digital thieves are getting smarter, now able to worm their way into the tightest software wallets. How can you stay safe? One method is storing your currency in an offline or ‘cold wallet’. If you’ve ever thought about doing so, you’re probably familiar with Ledger and Trezor as heavyweights in the space.
British Columbia Abandons Decriminalisation Policy Despite Promising Data
On 14 January 2026, British Columbia (B.C.) announced it would end its limited decriminalisation policy and reinstate criminal penalties for personal drug possession. According to the Canadian Drug Policy Coalition (CDPC), the province’s decision not to renew its three-year pilot appears to have been informed not by data, public health experts, or people most affected by the policy, but by political strategists concerned with maintaining power in an increasingly hostile climate.
Operation Harmattan’s Missing Piece: West Africa’s Synthetic Drug Rise
In October 2025, West African authorities celebrated the results of Operation Harmattan, a coordinated enforcement effort across seven countries conducted under the Airport Communication Project, a UN-backed, EU-funded drug-interception programme. The operation led to 13 arrests and the seizure of fentanyl, tramadol, cannabis, cocaine, tobacco and cash, and was widely praised as dealing a blow to synthetic drug trafficking in the region.
Taking the Credit - Greenland climbdown
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Report Shows Africa's Drug Markets Surge as Resilience Declines
Drug trafficking and consumption markets are expanding rapidly across Africa, fuelled by state corruption and declining capacity to respond, according to a comprehensive new assessment tracking organised crime on the continent. The 2025 Africa Organised Crime Index, released on 17 November by the ENACT project, reveals rapid growth in cocaine, cannabis, heroin and synthetic drug markets over the past six years.
ASEAN’s Upcoming Chairs Split on Future Drug Policy Future
The next two ASEAN chairs couldn’t hold more different approaches to drug policy. The Philippines, due to take the reins in 2026, is tentatively moving towards a harm reduction approach, albeit slowly. By contrast, Singapore, which will follow the Philippines into ASEAN’s top spot, is doubling down on its zero-tolerance prohibitionist approach. Which way the region will go could depend on the next few years and which chair gets the last word.
Who’s Paying? Australia Leads in Psychedelic Insurance
In a global first, Australian insurer Medibank has announced it will offer coverage for psilocybin-assisted therapy, signalling a new phase in the long path towards normalising psychedelic treatment. The move comes after Canada-based Optimi Health confirmed that its psilocybin capsules have been selected for use in Medibank’s new insurance-backed programme for eligible patients. The announcement marks a significant milestone for accessibility.
New African Union Drug Strategy Takes Aim At Synthetic Drugs
The African Union has formally adopted a continent-wide drug strategy aimed at strengthening responses to the manufacture, trafficking and organised crime networks behind synthetic substances, the bloc announced on 10 September 2025.
The Coca Paradox: To Regulate or Eradicate?
In 2024, both Peru and Bolivia seized record amounts of cocaine, according to , seizing 24 metric tonnes and 40 tonnes, respectively. Both countries showed similar willingness to pursue prohibitionist policies when it comes to cocaine. As part of this strategy, Peru forcibly destroyed around 27,000 hectares of coca leaf plantations in 2024, up from 23,000 hectares the year before.
Upcoming WHO Coca Review: A Turning Point For Global Drug Policy
In November, the World Health Organisation (WHO) will issue its long-awaited recommendation on whether the coca leaf should remain listed under the UN’s most restrictive drug controls. For decades, the coca leaf has been treated in international law as little more than raw material for cocaine. The 1961 Single Convention on Narcotic Drugs, following the advice of a deeply flawed 1950 WHO report, placed coca in Schedule I, equating its potential harm from use with that of heroin.
New Kenyan Drug Bill: Missed Chance for Harm Reduction
On 24 June, Kenya’s cabinet passed its new National Policy Prevention of Alcohol, Drugs, and Substance Use (2025), developed by the National Authority for the Campaign Against Alcohol and Drug Abuse (NACADA). It is lauded as a comprehensive prevention framework to protect youth and vulnerable groups, particularly alcohol consumers.
Tonga Reports Record Low Meth Seizures After Public Health Struggles
Tonga’s fight against methamphetamine appears to be bearing fruit—at least on paper. Police Minister Piveni Piukala announced this week that meth seizures have plunged by 98.8%, a drop he credits to intensified anti-drug operations and tighter enforcement across the kingdom. The statement comes in the wake of a series of high-profile raids, including one that saw a probationary police constable arrested on suspicion of dealing methamphetamine.
‘Bulldozer Justice’ Unleashed on India’s Alleged Drug Consumers
In India, bulldozers have become more than just a construction tool, they are a symbol of the country’s approach to extrajudicial punishment. For years, India’s politicians have engaged in “bulldozer justice”: they send demolition teams to the homes of those accused of certain crimes, destroying them in a public fashion without waiting for a trial or conviction before taking action.
Australian Government Dismisses Decriminalisation Despite Widespread Support
Australia’s New South Wales (NSW) government found “substantial support” for a public health model featuring illicit drug decriminalisation, but steered clear of making it an official recommendation in its latest Annual Drug Summit. The invitation-only forum did however produce 56 recommendations ranging from ending the use of sniffer dogs at festivals to supporting Aboriginal-led initiatives.
Vin Mariani: From Health Tonic to Moral Panic
Instead of a wine that makes you sleepy, imagine one that could keep you up and talking all night. Imagine again that this wine, far from being bad for you, was in fact a health tonic with innumerable and immediate benefits. These were claims of the producers of Vin Mariani, a French drink that, in the late 19th century, sat on the desks of popes, writers, and even royalty. What was its secret and why, since it was so popular, have we not all heard of it?
Counting Down: PsychedeliCare Launches Citizen’s Campaign for Psychedelic Therapy
12 months, three proposals, one million signatures. That’s the target so that this time next year, the European Commission may have to formally respond to proposals for a revolution in psychedelic policy. Using a little-known legal tool, advocacy group PsychedeliCare is leveraging citizen action to radically change Europe’s approach to mental health.
Regional Focus On Medical Has Limited Caribbean Cannabis Reform
A 2018 report authored by the Caribbean Community and Common Market (CARICOM) called for unified progress to decriminalise and regulate cannabis to reduce the social and historical costs of its prohibition and criminalisation. A landmark study for the region, its impact has been muted over half a decade after its launch: Caribbean nations today have a patchwork of cannabis markets, pursuing medical cannabis profits over a joint social justice approach.
Polygon (MATIC): The Ultimate Ethereum Scalability Solution?
Published: │ 3:00 PM GMT The Polygon network is a solution to one of Ethereum’s most pressing challenges: scalability. In the rapidly evolving landscape of blockchain technology, scalability remains one of the deepest thorns in cryptocurrency’s side, leading to endless frustration and higher costs while using the Ethereum network. To confront this challenge, the Polygon network has emerged as a promising contender, offering a scalable and user-friendly platform built on the Ethereum blockchain.
Uniswap vs SEC: Declaring War on Decentralized Exchanges?
Published: │ 12:00 PM GMT The U.S. Securities and Exchange Commission (SEC) is coming for decentralized exchanges, and it’s started with Uniswap. After years of mulling over whether digital assets are securities, the regulator has initiated legal action against Uniswap, with potential ramifications far beyond the exchange. What could this mean for Uniswap and DeFi more broadly? What might happen to holders of UNI and other cryptocurrencies? And what can we expect once the legal dust has settled?
KYC in Crypto: The Real Reason Exchanges Need Your ID
Published: │ 4:00 PM GMT Try to sign up for any major crypto exchange today, and you might be surprised when you’re running for your passport. But, thanks to ‘know your customer’ rules, that’s pretty likely to happen – or at least you’ll have to take a selfie. If you thought that crypto was a decentralized utopia where anonymous transactions elude regulators and big financial institutions can’t track your bitcoin, NFTs, and more, this might feel like a betrayal.
Goldman Sachs in talks to form rival club for Adevinta debt
News and Analysis Ryan Hesketh +Fin Strathern 9 October 2023•2 min read This article is part of our new service, 9fin Private Credit. If you're interested in a free trial, contact subscriptions@9fin.com Goldman Sachs' private credit arm is assembling a club that includes CVC and Park Square to take on a potential €4bn unitranche debt deal for Adevinta, market sources told 9fin.
GIC in sponsor club for record €4bn Adevinta private debt package
This article is part of our new service, 9fin Private Credit. If you're interested in a free trial, contact subscriptions@9fin.com GIC is looking at the prospective €4bn private debt package for Blackstone and Permira’s buyout of Adevinta as part of a lender club being put together by the sponsors, according to sources familiar with the matter. 9fin previously reported Goldman Sachs' private credit armwas the front-runner to provide financing.
Taking the Credit - Reputation, customisation and dodgy valuation
Market Wrap Ryan Hesketh +Josie Shillito 28 September 2023•7 min read This article is part of our new service, 9fin Private Credit. If you're interested in a free trial, contact subscriptions@9fin.com How to value a credit when the portfolio is illiquid is a question that plagues private credit — and the result has been valuations that differ as much as 50% within different vehicles of the same asset manager, as reported by 9fin.
Taking the Credit - The seduction of great portfolio construction
Market Wrap Josie Shillito +Ryan Hesketh + 1 more 21 September 2023•4 min read This article is part of our forthcoming service, 9fin Private Credit. If you're interested in a free trial, contact subscriptions@9fin.com While for the past two years, delegates at conferences have sung the praises of the private credit asset class, this year at the private assets event IPEM in Paris they were more circumspect.
9Questions - Carlos Mendez, Crayhill - ABL, it’s all around us
Deep Dive Ryan Hesketh 6 July 2023•5 min read 9Questions is our Q&A series featuring key decision-makers in the corporate credit markets — get in touch if you know who we should be talking to! Asset-backed lending, already hot in the US, is very much a focus in Europe too. It’s not an oddity, it’s actually all around us, and it never plays second fiddle, according to Crayhill Capital Managing Partner Carlos Mendez.
9Questions - Samuel Norris, Ropes & Gray - Data, a virtual goldmine
Deep Dive Ryan Hesketh 5 July 2023•4 min read 9Questions is our Q&A series featuring key decision-makers in the corporate credit markets — get in touch if you know who we should be talking to! If you hadn’t noticed, our world is dominated by data. According to Statista, more data was created in the two years before 2021 than in the entire history of the human race until that point. But how valuable is all that data? And if it is valuable, how do you monetise it?
Kia Files Recall of 51,568 US Vehicles: NHTSA
Kia recalls all 2022 and certain 2023 Carnival vehicles, totaling 51,568, due to auto-reverse feature for the power sliding doors not activating in all situations, according to a statement.
Daimler Trucks North America Recalls 24,282 US Vehicles: NHTSA
Daimler Trucks North America recalls 24,282 of certain 2020-2021 Freightliner Cascadia vehicles due failure to comply with exterior lighting standards, according to a statement.
Honda Recalls 15,848 Motorcycles on Speedometer Issue: NHTSA
Honda will recall some 2022 Honda NVA110B motorcycles due to the speedometer cable being incorrectly routed, according to a filing to the National Highway Traffic Safety Administration.
WANdisco Appoints FRP to Conduct Independent Accounting Probe
WANdisco appoints FRP Advisory to lead an independent investigation into accounting irregularities, according to a statement.
WANdisco Appoints FRP to Conduct Independent Accounting Probe
WANdisco appoints FRP Advisory to lead an independent investigation into accounting irregularities, according to a statement.
UK Rail Union RMT rejects settlement to end strikes
The UK’s RMT Union rejected the latest offers from both Network Rail and the train operating companies, according to an emailed statement.
UK’s Manchester Airport says operations have resumed
Manchester Airport says operations have resumed after it temporarily closed both of its runways due to heavy snowfall. Snow and ice warnings are in place for western parts of the UK, with below-average temperatures set to continue into the end of the week.
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