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Kenya’s commercial banks have demonstrated remarkable resilience in a challenging economic environment, recording an 11.58% increase in pre-tax profits for the first eight months of 2024. Profits rose to $1.22 billion from $1.09 billion in the same period last year, according to data from the Central Bank of Kenya (CBK). This growth comes despite a […]

Ethiopia is set to inaugurate its new stock exchange this Friday, marking a historic milestone after more than five decades without a bourse. This development is part of the government’s broader strategy to attract investors and stimulate an economy recovering from the dual challenges of a devastating civil war and persistent regional instability. Ethiopia’s economic […]

The Forum on China-Africa Cooperation (FOCAC) continues to strengthen the enduring ties between China and African nations, charting an ambitious path for mutual growth and development. During a visit to Brazzaville, the capital of the Republic of Congo, Chinese Foreign Minister Wang Yi underscored China’s commitment to “burnishing the credentials” of FOCAC, outlining a comprehensive […]

Cassava Technologies, a leading digital infrastructure and services provider in Africa, has announced the successful closure of a $90 million equity investment. The funding round saw participation from notable investors, including the U.S. International Development Finance Corporation (DFC), the Finnish Fund for Industrial Cooperation (FinnFund), and tech giant Google. This strategic investment is part of […]

South Africa’s new tax incentives aimed at fostering electric vehicle (EV) and hydrogen-powered vehicle production have sparked interest among Chinese automakers, positioning the country as a potential hub for green automotive innovation. Meanwhile, China’s proposed export controls on EV battery technologies signal a strategic maneuver that could reshape global supply chains in the burgeoning EV […]

The Africa Investment Forum 2024 Market Days marked a pivotal moment in the deepening relationship between Japan and Africa. Held from December 8 to 10, the event brought together leaders, investors, and innovators to discuss strategies for driving Africa’s agricultural and energy transformation. Central to the discussions was the role of Japanese technology and innovation, […]

Jaiz Bank, one of Nigeria’s leading non-interest financial institutions, has successfully raised N10.04 billion ($6.4 million) through its private placement on the Nigerian Exchange Group (NGX). This significant achievement underscores the bank’s proactive approach to meeting the Central Bank of Nigeria’s (CBN) revised capital requirements well ahead of the June 2026 deadline. The private placement […]

Ethiopia has taken a historic step by partially opening its banking sector to foreign investors. This development, marked by a parliamentary vote on Tuesday, is being hailed as a transformative move aimed at revitalizing the country’s economy, which has faced significant challenges in recent years. According to FanaBC, a government-affiliated media outlet, the new banking […]

Brazilian fintech giant Nubank, renowned as the world’s largest digital bank by market value, has announced a $150 million investment in Tyme Group, a South African digital banking pioneer. This move positions Tyme as one of Africa’s exclusive “unicorns,” with a valuation surpassing $1.5 billion. Alongside the investment from UK fund manager M&G, this development […]

The Nigerian Investment Promotion Commission (NIPC) has announced significant achievements in its mission to position Nigeria as a premier investment destination in Africa. Through strategic partnerships and dedicated investment promotion efforts, the NIPC has secured over $50 million in commitments from global firms across key sectors such as agriculture, manufacturing, ICT, healthcare, and renewable energy. […]