Africa, despite its pressing energy needs, is set to receive a mere 2% of the $2 trillion global clean energy investment projected for 2024, a recent report by the International Energy Association (IEA) reveals. With clean energy investments worldwide expected to reach $2 trillion, Africa’s share amounts to approximately $40 billion, a fraction of the […]
The Korean Exim Bank has finalized agreements with the Kenyan government, committing over KShs. 30 billion to the development of Konza Technopolis. The investment, announced during the Korea-Africa summit in Seoul, will primarily finance the construction of a Digital Media City within Konza, spanning 160 acres. This initiative aims to bolster Kenya’s digital economy by […]
Octopus Energy Group is set to accelerate its expansion in North America and Europe with the addition of two esteemed investors, Galvanize Climate Solutions and Lightrock. This move comes on the heels of a significant investment last month, reaffirming Octopus’ valuation at $9 billion (£7.2 billion), marking a 15% increase since December 2023. Galvanize Climate […]
In a significant development for the African media industry, Sub-Saharan pay-TV leader Multichoice has endorsed a US$2.9 billion takeover offer from French media giant Canal+. This acquisition, expected to be finalized by April 2025 pending regulatory approvals, marks a pivotal shift in the continent’s broadcasting landscape. Strategic Consolidation Canal+, owned by Vivendi, already holds a […]
Standard Chartered Bank has entered the competitive landscape of Kenya’s digital lending sector with the introduction of SC Juza, a mobile app aimed at meeting the increasing demand for short-term, unsecured loans accessible through mobile wallets. With SC Juza, Standard Chartered joins the ranks of leading banks such as KCB, ABSA, Equity Bank, and NCBA, […]
Spain’s government has announced a significant policy change to implement a 15% minimum corporate tax rate on multinational companies, in alignment with an OECD initiative aimed at reducing tax avoidance. Budget Minister Maria Jesus Montero confirmed the new measure, emphasizing its importance in addressing tax base distortions and profit relocation by large multinational groups. “This […]
At the 2024 Korea–Africa Business Summit, Samsung stands out as a prominent player, joining forces with government officials, business leaders, and economic experts from 48 countries to address key trade and investment agendas. Focused on themes like industrial development, trade expansion, and climate action, the summit provides an ideal platform for Samsung to showcase its […]
OneClickDrive, a leading car rental marketplace based in Dubai, has announced its expansion into Morocco, marking its first entry into the African market. This strategic move aims to tap into the growing demand for car rentals in the region, particularly among tourists drawn to Morocco’s rich cultural heritage and scenic landscapes. Since its inception, OneClickDrive […]
Mizuho Financial Group, a Tokyo-based banking and financial services company, has joined forces with the London Stock Exchange Group (LSEG) in a strategic partnership aimed at bolstering the carbon credit market. This collaboration comes in the wake of LSEG’s introduction of the Voluntary Carbon Market (VCM) designation in 2022, which identifies funds and companies investing […]
The Special Economic Zones Authority (SEZ Authority) recently hosted its first-ever site visit for potential investors, highlighting the promising investment opportunities within the Naivasha Special Economic Zone (SEZ). The visit provided a comprehensive overview of the zone’s strategic location and attractive incentives for businesses. Among the key highlights of the tour was a visit to […]
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