Kenyan InsurTech firm mTek has recently secured a substantial investment of $1.25 million, marking a significant milestone in its journey to reshape the insurance landscape across Africa. Led by Verod-Kepple Africa Ventures and Founders Factory Africa, this funding injection underscores investor confidence in mTek’s disruptive potential and strategic vision for growth. Since its inception in […]
Fortis, a Dubai-based fintech firm specializing in retail solutions, has successfully closed a $20 million Series A funding round. Led by Opportunity Venture (Asia), a prominent fund based in Hong Kong, this investment is earmarked for accelerating Fortis’s expansion across the Middle East and North Africa (MENA) region. Alberto Caruso, Founder and CEO of Fortis […]
Volkswagen Group Africa (VWA) has confirmed a substantial R6 billion investment in its Kariega assembly plant, signaling a firm commitment to its African strategy. Despite past speculation, this move underscores VWA’s determination to strengthen its presence in the region. The investment will facilitate the assembly of a new compact sports utility vehicle (SUV) alongside existing […]
The latest Hass Land Price Index report unveils a compelling trend: land values in Nairobi’s satellite towns have skyrocketed over the past decade, presenting investors with lucrative opportunities for growth. Since December 2007, land values in satellite towns surrounding Nairobi have increased by an impressive 11.79-fold, significantly outperforming the growth observed in the city’s central […]
In the wake of recent extreme weather events, including unprecedented flooding, UAE insurers are gearing up for an influx of claims. The country experienced its heaviest rainfall in over 75 years, causing widespread disruption and damage. A report by AM Best, a leading credit rating agency specializing in insurance, highlights the potential impact on insurers. […]
In a landmark move poised to reshape Africa’s retail landscape, Nigerian retail-tech trailblazer OmniRetail has commenced its Series A fundraising drive with a significant injection from Goodwell Investments, a renowned impact investor championing transformative ventures across emerging markets. Since its inception in 2019, OmniRetail has carved a niche as a B2B enablement powerhouse, spearheading the […]
Kenya is poised to make history in Africa’s financial landscape by issuing the continent’s inaugural Sustainability-Linked Bond (SLB), with the backing of the World Bank. This groundbreaking $500 million bond is designed to integrate financial objectives with environmental and social responsibilities, marking a significant shift in sustainable financing strategies. Isfandyar Zaman Khan, the lead financial […]
In a strategic move indicative of its ambitious expansion plans, Abu Dhabi National Insurance Co. (ADNIC) has successfully acquired a controlling stake of 51% in Allianz Saudi Fransi Cooperative Insurance Co., a prominent insurer listed in Saudi Arabia. The transaction, valued at a significant $133.1 million (499 million riyals), marks a substantial milestone for both […]
Trustco Group Holdings, a prominent Namibian investment firm, has solidified a strategic partnership with Riskowitz Value Fund (RVF), a United States-based entity, securing a substantial investment totaling $100 million. Under the six-month agreement, Trustco aims to leverage RVF’s extensive market expertise to explore lucrative investment opportunities both within Namibia and internationally. Quinton Zandré van Rooyen, […]
The Kenyan poultry industry is facing a critical juncture as stakeholders, especially small-scale farmers, voice their opposition to an upcoming trade agreement between Kenya and the United States. This deal, if ratified, would allow the importation of finished poultry products from the US, posing a significant threat to local producers. Lydia Wanjiku, a committed poultry […]
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...
