Kenya is strategically positioning itself as an attractive investment destination ahead of the inaugural Korea-Africa Summit scheduled from June 4th to 5th, 2024. With President William Ruto set to attend, the summit aims to enhance economic cooperation between Korea and Africa, especially with the full implementation of the African Continental Free Trade Area (AfCFTA) agreement. […]
Google has unveiled a transformative project set to reshape Africa’s digital landscape: the Umoja fiber optic cable. This groundbreaking initiative, named after the Swahili word for “unity,” promises to enhance connectivity, drive economic growth, and bolster resilience across the continent. Stretching from Kenya to Australia, with key stops in Uganda, Rwanda, DRC, Zambia, Zimbabwe, and […]
In a significant development, the U.S. Securities and Exchange Commission (SEC) has approved eight applications for spot Ethereum exchange-traded funds (ETFs). The approvals follow the submission of 19b-4 forms detailing proposed rule changes and regulatory compliance, paving the way for ETF listing and trading. Among the approved firms are financial giants BlackRock Inc. and Fidelity, […]
Kenyan President William Ruto’s recent visit to the United States has solidified the longstanding partnership between the two nations, marked by a series of significant investment agreements. These agreements, totaling billions of shillings, encompass key sectors such as green energy, security, education, and governance, reflecting a shared commitment to mutual prosperity and stability. During the […]
President William Ruto of Kenya recently visited the United States, where he underscored the significance of American investment in the digital space for Africa’s transformation. Speaking at a technology roundtable in Washington, D.C, President Ruto praised the United States for its commitment to bolstering the digital sector, citing it as a pivotal partnership anchored on […]
Zachry Holdings, Inc. (ZHI), the construction firm contracted to build the $10 billion Golden Pass LNG export terminal in Texas, has filed for bankruptcy. This development places the future of the high-profile project, a collaboration between QatarEnergy and ExxonMobil, in uncertainty. Initiated in 2019, the Golden Pass LNG project is integral to QatarEnergy’s global expansion […]
E-finance for Digital and Financial Investments (e-finance) has announced a strategic move to enhance its presence in Egypt’s digital payments market. The firm has acquired a 25% stake in Al Ahly Momken and a 13% stake in EasyCash, marking significant steps in its growth strategy. Al Ahly Momken, a key player in Egypt’s digital payments […]
Abu Dhabi National Oil Company (ADNOC) has made a significant move by acquiring a 10% equity stake in the Area 4 concession of Mozambique’s Rovuma basin from Portuguese energy firm Galp. This marks ADNOC’s first foray into Mozambique’s LNG market, positioning the company in one of the world’s largest gas discoveries. The Area 4 concession […]
In a strategic move aimed at enhancing data center capabilities, King Street Capital Management, L.P. (“King Street”), a prominent global investment firm, has announced the acquisition of a majority ownership stake in Colovore, a leading Silicon Valley-based data center operator specializing in liquid-cooled, high-density colocation for artificial intelligence (AI) and high-performance computing (HPC) applications. This […]
Global beverage titan, Coca-Cola, has unveiled plans to inject Sh23 billion ($175 million) into Kenya over the next five years, signaling a significant boost to the nation’s economic landscape. This strategic move, announced during a high-profile meeting between Kenyan President Dr. William Ruto and Coca-Cola executives at the company’s Atlanta headquarters, underscores Coca-Cola’s enduring commitment […]
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...
