The Investment Corporation of Dubai (ICD), the main investment arm of the Government of Dubai, reported a record net profit of 60.8 billion UAE dirhams ($16.55 billion) for the fiscal year ending December 31, 2023. This represents nearly double the AED 36.1 billion profit recorded in 2022, highlighting the robust growth of Dubai’s investment portfolio. […]
At the Annual General Meeting (AGM) of the African Development Bank (AfDB) in Nairobi, experts convened to discuss the pressing need for increased private sector involvement in financing tertiary education across Africa. Collaborating with the Kenyan government, the African Union Commission, and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, the dialogue emphasized the importance […]
China’s economic involvement in Africa is witnessing a notable resurgence, particularly in the realm of mineral investments. Last year, Chinese investment in African minerals surged by 114%, reflecting a strategic focus on resources crucial for global energy needs and China’s domestic economic priorities. This surge in investment includes significant acquisitions, such as China’s MMG Ltd’s […]
Lenovo Group, the world’s largest personal computer manufacturer, has announced its plan to issue $2 billion in zero-coupon convertible bonds to Saudi Arabia’s Alat. The funds raised will primarily be used to repay existing debt and support general corporate activities. This move comes as part of a broader trend among Chinese tech giants to raise […]
Connecticut-based Banyan Investment Banking & Hedge Fund has set its sights on Africa with the establishment of its regional headquarters in Nairobi, Kenya. This move comes as part of the company’s strategic expansion into the continent’s burgeoning digital financial market, following its successful operations in Cape Town. Dr. Thana Balan, a key figure within Banyan, […]
MTN, Africa’s premier telecommunications conglomerate, has announced a landmark investment initiative aimed at bolstering the continent’s digital infrastructure. Spearheaded by cebisi Jonas, the esteemed chairman of MTN, the ambitious endeavor will see a staggering $12 billion injected into critical digital assets over the next six years. At the forefront of this strategic move is the […]
Alef Education, a prominent educational technology provider, has announced plans to raise up to $515 million through an initial public offering (IPO) on the Abu Dhabi Securities Exchange. The company has set the indicative price range for the IPO at 1.30-1.35 dirhams per share, aiming for a market capitalization between $2.48 billion and $2.57 billion. […]
Kenya, in collaboration with Microsoft Corporation and G42, is unveiling a landmark $1 billion digital investment plan aimed at propelling the nation into the forefront of the digital age. The initiative, formalized through a signed letter of intent, signifies a pivotal moment in Kenya’s digital transformation journey. At the heart of this initiative lies the […]
In a strategic move aimed at fostering technological innovation and economic growth, Microsoft’s South African division (SA) has recently finalized a groundbreaking $70.5 million investment agreement with the South African Department of Trade, Industry, and Competition (DTIC). This partnership signifies a significant step towards advancing South Africa’s position in the global AI landscape while nurturing […]
Global asset managers, including JPMorgan Chase, UBS, and Warburg Pincus, are actively working to expand their retirement product offerings in China following the country’s recent launch of a private pension system. This significant reform is aimed at addressing the financial needs of an ageing population and enhancing retirement savings options. China’s new private pension scheme, […]
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...
