Saudi Arabia’s Public Investment Fund (PIF) has announced plans to invest $15 billion in Brazil, focusing on green hydrogen, infrastructure, and renewable energy. This significant move was revealed by Brazil’s Energy Minister Alexandre Silveira during an event in Rio de Janeiro. Minister Silveira highlighted the strategic nature of this investment, which was discussed during recent […]
Senegal has embarked on a significant milestone with the commencement of production at its first offshore oil project, announced by Australian energy firm Woodside Energy on Tuesday. The production vessel is situated approximately 100 kilometers (60 miles) offshore at the Sangomar oil fields, with a target of producing 100,000 barrels of oil per day. “This […]
In a significant move aimed at optimizing national development objectives, the Cabinet has authorized the divestment of the government’s shares in six key companies listed on the Nairobi Securities Exchange (NSE). These companies, including East African Portland Cement Limited (PORT), Nairobi Securities Exchange (NSE), and Housing Finance Company of Kenya (HFCK), among others, have been […]
At the Ukraine Recovery Conference 2024, European Commission President Ursula von der Leyen announced the signing of €1.4 billion in new guarantee and grant agreements aimed at supporting Ukraine’s recovery and reconstruction. This initiative, part of the Ukraine Facility’s Investment Framework, emphasizes the EU’s ongoing commitment to support Ukraine amid the conflict with Russia. Strategic […]
Fidelity Bank Nigeria Plc has received a substantial financial boost from the African Export-Import Bank (Afreximbank) to aid its expansion strategy. The $40 million disbursement, sourced from Afreximbank’s intra-African investment facility, signifies a strategic collaboration aimed at facilitating Fidelity Bank’s acquisition and recapitalization of Union Bank UK. The funds, divided into two tranches of $20 […]
The European Investment Bank (EIB) has teamed up with local Kenyan banks to provide vital support to the country’s Micro, Small, and Medium-sized Enterprises (MSMEs) in the aftermath of the COVID-19 pandemic. Kenya’s private sector, particularly MSMEs, has faced significant hurdles in accessing financing, exacerbated by the economic uncertainties brought about by the pandemic. Recognizing […]
Southwest Airlines, a stalwart of the skies, finds itself under scrutiny as activist shareholder Elliott Investment Management makes a significant move, acquiring a $1.9 billion stake in the company. With this investment comes a pointed critique of the airline’s performance, particularly targeting its CEO and the need for strategic evolution. Elliott’s concerns stem from Southwest’s […]
HSBC Egypt has announced the launch of a new fund valued at EGP 1.5 billion (approximately $31.5 million) to support small and medium-sized enterprises (SMEs) in the fintech sector. This initiative is part of HSBC’s broader strategy to foster technological innovation and economic growth in Egypt. The fund, expected to be operational by the third […]
The forthcoming Nyanza International Investment Conference is generating anticipation as preparations reach a crescendo. Scheduled for June 28–29, the event aims to spotlight investment prospects across Kisumu, Siaya, Homa Bay, Migori, Kisii, and Nyamira counties, drawing attention from global investors keen on exploring untapped opportunities. Organized by the Nyanza Professionals, the conference seeks to foster […]
Saudi oil giant Aramco has retained its position at the top of Forbes Middle East’s Top 100 list, highlighting the dominance of Gulf Cooperation Council (GCC) firms in the region’s corporate landscape. With assets totaling $660.8 billion and a market value of $1.9 trillion, Aramco stands as a pillar of the Middle East’s economic strength. […]
Despite confronting a challenging economic environment marked by slower GDP growth, elevated interest rates, and mounting operational expenses, Kenya's banking...
The United States government shutdown has entered a critical phase as it becomes the second-longest funding lapse in the nation's...
In a landmark move that signals a significant shift in international financial cooperation and the evolving architecture of global finance,...
The Central Bank of Kenya (CBK) has launched a strategic KSh 30 billion voluntary buyback programme for investors holding the...
