Responding to the pressing climate challenges in northern Kenya, USAID has unveiled a targeted $6 million initiative. Aimed at enhancing climate resilience among small businesses and financial institutions, this program addresses the recurring droughts and floods afflicting the region. Part of a broader $38 million effort, this initiative focuses on bolstering resilience in arid and […]
Vanguard Group, renowned for its commitment to low-cost investing, has announced adjustments to its fee structure effective July 1st. This shift, aimed at encouraging digital transactions, maintains existing fund expense ratios while introducing new fees at the brokerage platform level. In a recent communication to customers, Vanguard outlined the changes, including a $25 transaction fee […]
Nigerian startup Chowdeck, a rising star in the on-demand delivery sector, has successfully closed a $2.5 million seed funding round. The investment, sourced from a diverse group of backers including YCombinator, Goodwater Capital, and FounderX Ventures, signals a significant boost for the company’s ambitious growth plans. Since its launch in October 2021, Chowdeck has rapidly […]
Kenya’s rum market is expected to see substantial growth, with a projected valuation of Sh2 billion ($18.2 million) by 2028, up from Sh1.6 billion ($12.3 million) in 2024, according to industry forecasts. This growth is fueled by a rising preference for premium spirits among Kenya’s urban youth. Captain Morgan, distributed by East African Breweries, leads […]
Rasan Information Technology Co., a prominent Saudi fintech player, is gearing up for a significant move into the public market. The company has announced plans to sell a 30% stake through an Initial Public Offering (IPO), with the aim of listing its shares on Riyadh’s Tadawul exchange. In collaboration with its stakeholders, Rasan will offer […]
Saudi Arabia’s commitment to fostering African development has reached a significant milestone with the Saudi Fund for Development (SFD) announcing an investment exceeding $11 billion across the continent. This substantial injection of capital aims to bolster various sectors crucial for sustainable growth, including infrastructure, industrialization, and economic diversification. The financing, supporting 433 development projects and […]
NCBA Group has announced a strategic partnership with Proparco, a leading French firm, to bolster Kenya’s small and medium enterprises (SMEs) with a substantial Sh6.75 billion funding injection. The collaboration, solidified with a handshake between NCBA Group MD John Gachora and Proparco’s Regional Head for East Africa, Audrey Maignan, signals a concerted effort to uplift […]
Global asset management giant BlackRock has unveiled a landmark collaboration with Saudi Arabia, signaling a significant milestone in the evolution of Middle Eastern finance. Facilitated by a substantial $5 billion investment from Saudi Arabia’s Public Investment Fund (PIF), this partnership aims to establish BlackRock Riyadh Investment Management (BRIM), a dynamic investment platform tailored for the […]
Grindstone, in collaboration with Usaid Southern Africa Mobilizing Investment, has unveiled an innovative two-year program designed to fuel the growth of startups in South Africa. Named “Grindstone Boost,” this initiative aims to support 40 startups annually, carefully selected from Grindstone’s alumni and other key players in the entrepreneurial ecosystem. Kicking off in July 2024, the […]
AgDevCo, a specialized investor in African agriculture, has made a strategic equity investment in Agris, a division of Maris Ltd, to enhance fresh-food production and distribution in East Africa. This investment, securing a minority stake in Agris, reflects AgDevCo’s confidence in the company’s potential to drive a positive impact in the region’s agricultural sector. The […]
The United States is hurtling toward a fiscal reckoning that would have seemed unthinkable just two decades ago. According to...
The African Development Bank Group has approved a landmark €117 million financing package to fundamentally transform Benin's 77 municipalities into...
The Kenyan government has published the Draft Kenya Sovereign Wealth Fund Bill, 2025, a landmark piece of legislation that establishes...
The United Arab Emirates has solidified its position as one of Africa's most strategic investment partners, ranking fourth globally behind...
