The financial landscape in Kenya has seen a notable development with the Central Bank of Kenya (CBK) announcing the cancellation of the authority granted to Bank Al-Habib Ltd (BAHL) of Pakistan to operate its Representative Office in Kenya. This decision, effective May 15, 2025, follows a strategic rationalization by BAHL to consolidate its international operations, […]
The global business landscape is undergoing a profound transformation, driven by an unprecedented surge in Artificial Intelligence (AI) adoption. A groundbreaking new report from Nasscom, titled ‘Enterprise Experiments with AI Agents – 2025 Global Trends,’ reveals that a staggering 88 percent of global enterprises now boast dedicated budgets for AI initiatives. This significant financial commitment […]
In a significant move set to accelerate sustainable economic development and infrastructure growth across the African continent, the African Development Bank (AfDB) and the Asian Infrastructure Investment Bank (AIIB) have officially renewed their collaborative agreement. The Memorandum of Understanding (MOU), signed on Saturday, June 28, by AfDB President Dr. Akinwumi Adesina and AIIB President and […]
East Africa’s leading investment powerhouse, Centum Investment Company PLC, has sent ripples across the regional financial markets with a recent profit warning. The Nairobi-headquartered firm, a diversified investment vehicle with significant stakes across various critical sectors, has projected a substantial 25% decline in net earnings for the financial year that concluded on March 31, 2025. […]
In a move set to further cement India’s position as a global innovation powerhouse, AstraZeneca, the renowned science-led biopharmaceutical company, has unveiled the expansion of its state-of-the-art Global Hub in Bangalore. This significant investment, totaling ₹166 crore (approximately $20 million USD), is far more than just a new building; it represents a strategic pivot towards […]
In a momentous stride for its industrial and economic landscape, Egypt has officially inaugurated the first home appliance factory for BSH Hausgeräte GmbH – the German-owned giant behind the globally renowned Bosch brand – on the African continent. This landmark facility, representing a substantial investment exceeding €55 million (approximately $64.50 million USD), marks a pivotal […]
A transformative era has dawned for chilli farmers in Kenya’s coastal region with the official commissioning of a state-of-the-art Sh250 million (approximately US$1.9 million) processing plant in Malindi town. This significant investment, spearheaded by Equator Kenya Limited (EKL) and backed by strategic international partnerships, is poised to revolutionize the agribusiness landscape for thousands of smallholder […]
In a move set to reverberate across the global technology landscape, Chinese consumer electronics titan Xiaomi has announced an unprecedented commitment: a staggering 200 billion yuan (approximately US$28 billion) will be poured into research and development (R&D) between 2026 and 2030. This monumental investment, revealed by founder and CEO Lei Jun during a highly anticipated […]
In a landmark decision poised to reshape its economic landscape, Ethiopia’s central bank has introduced a long-anticipated directive permitting foreign banks and investors to operate within its financial sector. This milestone signals a significant advance in the nation’s ongoing economic liberalization efforts and follows the parliamentary approval of a revised banking law in December 2024. […]
The halls of Telkom Kenya, once a symbol of national telecommunications prowess, are now echoing with the growing frustration of its workforce. Employees of the state-owned telco are increasingly vocal, pushing for an urgent state bailout as hopes for a strategic investor dwindle. This plea comes after years of unfulfilled promises and failed attempts by […]
A historic moment in East African energy cooperation unfolded this week as Ethiopia commenced its first-ever electricity exports to Tanzania,...
The United States Senate is currently embroiled in a high-stakes, marathon voting session on a sweeping budget bill, colloquially dubbed...
In a landmark moment for Burundi's energy future, President Evariste Ndayishimiye this week inaugurated the Jiji hydroelectric plant, a crucial...
The financial landscape in Kenya has seen a notable development with the Central Bank of Kenya (CBK) announcing the cancellation...
