Nairobi: Despite positive local market indicators, foreign investors have remained on a steady path of divestment from the Nairobi Securities Exchange (NSE), data reveals. Over the past three months, foreign portfolio flows have consistently trended negative, with March witnessing the highest selloff at Sh1.2 billion. Analysts find the sustained exit of foreign investors puzzling, given […]
JPMorgan Chase has garnered a positive outlook from S&P Global, marking a notable shift from its previous stable rating. This change, announced on Monday, reflects S&P’s confidence in JPMorgan’s robust lending-to-trading business, which has consistently outperformed industry peers. In 2023, JPMorgan achieved its highest-ever annual profit and projected a promising outlook for 2024, despite a […]
Ethiopia’s financial landscape is set for a significant transformation with the advent of its Securities Exchange, slated for launch in the third quarter of this year. In anticipation of this milestone, Deloitte, a leading audit and consultancy firm, has secured a noteworthy achievement by obtaining the first securities investment adviser license for operations within the […]
Acorn Holdings, a key player in real estate development, announced a significant increase in dividends for its unitholders across its real estate investment trusts (Reits). Following the successful distribution of profits from its development Reits, Acorn has raised its total dividends to Sh482.8 million, up from Sh 192.48 million. In a notable move, the Acorn […]
Leading the charge in bolstering the crypto venture capital landscape, esteemed investors Marc Andreessen, Accolade Partners, and Galaxy Digital have collectively injected $75 million into 1kx, a prominent player renowned for its strategic investments in early-stage crypto ventures. This infusion not only fortifies 1kx’s market standing but also signifies a significant milestone in digital asset […]
Nestlé, the global food and beverage giant, has announced a significant investment of R2.5 billion ($131 million) over the next five years in its collaboration with Black-owned businesses across eastern and southern Africa. This commitment aims to bolster sustainable procurement practices, facilitate supplier partner development, and promote agro-processing initiatives within its value chain. The decision […]
NCBA Group, a key player in East Africa’s financial sector, has announced impressive financial results for the fiscal year ending December 2023. The bank reported a notable 56.2 percent surge in net profits, reaching Sh21.4 billion compared to Sh13.7 billion in the previous year. As a testament to its robust performance, NCBA has declared a […]
ANAVA, a fund of funds supported by the World Bank, has pledged €4 million ($4.3 million) into Africa’s Janngo Capital Start-up Fund (JCSF), marking its inaugural investment in a pan-African venture. The investment aims to bolster approximately 25 early-stage tech startups, primarily in Francophone Africa, with a special focus on Tunisia. Janngo Capital’s mission is […]
Dubai Investments Park (DIP) Angola has announced a significant step forward in its development journey through a strategic collaboration with China Harbour Engineering Company Ltd (CHEC) for Phase 1A Infrastructure Development. This partnership marks a pivotal moment in the creation of a modern, 2,000-hectare mixed-use residential, commercial, and industrial hub in Angola, Africa. CHEC, a […]
The Nairobi Securities Exchange (NSE) witnessed a significant surge on Tuesday, boosting investor wealth by Sh95.53 billion, marking its largest single-day gain in 18 months. This propelled the market capitalization to Sh1.831 trillion by day’s end. Local investors, particularly institutional players, drove this surge, showing a strong preference for blue-chip stocks. Analysts attribute this to […]
President William Ruto has unveiled an ambitious infrastructure development plan that will see the Nairobi-Nakuru-Mau Summit Highway extended to cover...
In a significant policy announcement that has captured the attention of global financial markets, the People's Bank of China (PBOC)...
In a landmark achievement for African climate resilience, Mozambique has received a $2 million insurance premium for drought protection covering...
East African Breweries Limited (EABL), Kenya's leading alcoholic beverages manufacturer, has launched an ambitious fundraising initiative that opens the door...
