Nvidia Corporation has overtaken Microsoft to become the world’s most valuable company, highlighting a significant shift in the technology sector driven by the demand for artificial intelligence (AI). Nvidia’s shares rose 3.5% to $135.58, pushing its market capitalization to $3.335 trillion. This milestone was reached just days after Nvidia surpassed Apple. In comparison, Microsoft’s market […]
Africa Data Centres, a subsidiary of Cassava Technologies, has finalized a significant $110 million investment agreement with Rand Merchant Bank (RMB) aimed at enhancing its presence in South Africa’s digital infrastructure landscape. The financing, structured by RMB, underscores the strategic importance of meeting the growing demand for cloud computing services in the region. “This funding […]
Kenyan investors are increasingly turning to alternative investments as traditional avenues face mounting economic pressures. A recent report by the Central Bank of Kenya underscores CEOs’ concerns over macroeconomic instability and rising global commodity prices, prompting a shift towards more resilient asset classes. Jane Doe, Chief Investment Officer at a Nairobi-based asset management firm, notes, […]
Goldman Sachs has raised its year-end forecast for the S&P 500 Index to 5,600, up from its previous estimate of 5,200. This adjustment comes as major U.S. technology giants, including Microsoft, Nvidia, Google, Amazon.com, and Meta Platforms, collectively experienced a substantial 45% increase in their stock prices. These companies now represent a quarter of the […]
Unifonic, a prominent AI platform and Software as a Service (SaaS) provider in the MENA region, has officially opened a new office in Egypt as part of its strategic expansion efforts. This move underscores Unifonic’s commitment to enhancing customer satisfaction and fostering innovation through localized support and advanced solutions. Founded in 2008, Unifonic has been […]
The Kenyan government has unveiled ambitious plans to enhance technological innovation and economic development in Konza Technopolis City as part of its 2023-2027 Medium Term Plan IV. Alfonso Munyali, Secretary of Devolution Affairs and Intergovernmental Relations, emphasized the government’s intention to utilize both local and international resources to propel Konza into a hub of innovation. […]
British International Investment (BII) has finalized the sale of its 10.1% stake in I&M Group PLC (I&M) to AfricInvest, a leading Pan-African Asset Management platform. This transaction marks the conclusion of a successful seven-year partnership between BII, the UK’s development finance institution, and I&M, a prominent banking group in Eastern Africa. Founded in 1974 and […]
The Tunisian government has announced a comprehensive set of reforms aimed at enhancing investment and economic growth. These measures were revealed by Economy and Planning Minister Féryel Ouerghi during the opening of the 21st edition of the Tunisia Investment Forum (TIF) 2024, organized in partnership with the European Union (EU). New Initiatives to Attract Investment […]
4G Capital, a leading fintech firm catering to micro, small, and medium-sized enterprises (MSMEs) across Africa, has successfully initiated a KSh 500 million corporate debt programme. Acting as the Arranger and Placement Agent, Dry Associates Investment Bank facilitated this significant funding round, demonstrating strong investor confidence in 4G Capital’s operational strategy. This capital infusion is […]
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 […]
The Government of Germany, in partnership with the Government of Kenya and the United Nations High Commissioner for Refugees (UNHCR),...
The United Arab Emirates is positioning itself for another year of impressive economic expansion, with government projections indicating that the...
The Republic of South Africa has officially acceded to the Establishment Agreement of the African Export-Import Bank (Afreximbank), marking a...
The Nairobi Securities Exchange has entered uncharted territory as Safaricom's newly launched Ziidi Trader platform triggers unprecedented retail participation, fundamentally...
