Saudi Ground Services Company has announced a contract renewal with flynas, solidifying their partnership in aviation services. The agreement, disclosed via a bourse filing on April 13, 2024, extends Saudi Ground Services’ provision of ground handling services to flynas for domestic and international flights across the Kingdom’s airports. Valued at approximately $533 million (SAR 2 […]
During the LEAP 2024 event held in Riyadh, AfriLabs and the Ministry of Investment of Saudi Arabia (MISA) solidified a significant partnership through the signing of a Memorandum of Understanding (MOU). This collaboration aims to foster innovation and investment cooperation between Africa and Saudi Arabia’s tech and innovation sectors. Established in 2011, AfriLabs has been […]
Malindi, a coastal gem in Kenya, is at the forefront of hosting a significant gathering of over 400 Kenyan investors from the Diaspora. Their mission? To spearhead the development of Africa’s first green city in the serene landscapes of Magarini sub county, Kilifi county. Under the stewardship of Prof Lucas Njenga, CEO of Proximity Point […]
Sanad, a prominent aerospace engineering and leasing solutions provider owned by Mubadala Investment Company PJSC, has announced a significant contract extension with Asiana Airlines, the second-largest airline in South Korea. The five-year deal, valued at $145 million, solidifies Sanad’s commitment to providing Maintenance, Repair, and Overhaul (MRO) services for V2500 engines. The agreement, revealed during […]
Uganda has officially entered the Islamic banking sphere with the launch of Salaam Bank in Kampala. Salaam Bank, a subsidiary of the Djibouti-based institution of the same name, commenced operations last month following the Ugandan government’s enactment of legislation facilitating Sharia-compliant financial services. President Yoweri Museveni inaugurated Salaam Bank, marking a significant milestone after years […]
Kenya and the European Union recently cemented their trade relations through the Economic Partnership Agreement (EPA), paving the way for increased European investments in Kenya. As part of this collaboration, the European Commission Directorate-General for Maritime Affairs and Fisheries (DG MARE) is preparing for the second edition of BlueInvest Africa 2024, slated to take place […]
Costco, the retail giant known for its value offerings, has made a strategic move into the precious metals market, and it’s paying off handsomely. According to reports from Wells Fargo’s equity research note, the company is reaping significant monthly revenues, estimated between $100 million to $200 million, from the sale of gold bars. This venture […]
In response to South Africa’s ongoing power crisis, MTN, Africa’s largest mobile phone group, has announced a strategic investment plan totaling R1.9 billion ($101 million) by mid-year. The investment will focus on enhancing infrastructure such as generators, batteries, and renewable energy sources to address the persistent threat of power blackouts, locally known as “load shedding.” […]
Over the span of seven weeks, from February 15th to April 4th, 2024, the Nairobi Stock Exchange (NSE) has experienced a significant surge in trading activity, coinciding with a notable increase in investor wealth amounting to KSh 351 billion. Market capitalization, a pivotal indicator of investors’ wealth, closed at Ksh 1.772 trillion on April 4th, […]
HSBC Holdings unveiled its plan today to divest its Argentina business to Grupo Financiero Galicia in a deal valued at $550 million. The move underscores HSBC’s strategic shift towards consolidating its focus on its core Asian operations, marking a significant step in its ongoing strategy. Anticipating a $1 billion pre-tax loss linked to the transaction […]
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...
