Triply.co, a pioneering Kenyan travel tech startup, has received a significant boost with a $500,000 investment from renowned accelerator Y Combinator. This partnership marks Y Combinator’s maiden foray into Africa’s travel tech sector, highlighting the immense potential of Triply.co in reshaping Kenya’s travel landscape. Helmed by co-founders Peter Wachira and Collins Muthinja, Triply.co stands out […]
In a significant move aimed at enhancing its global energy footprint, Saudi Aramco has announced contracts worth $7.7 billion for the expansion of its Fadhili gas plant. The expansion will increase the plant’s processing capacity from 2.5 to 4 billion standard cubic feet per day and is scheduled for completion by November 2027. The contracts […]
In a strategic move to bolster economic resilience in Africa, The Trade and Development Bank (TDB) has secured a significant funding boost of $100 million from British International Investment (BII), the UK’s development finance division. With assets exceeding $5 billion, TDB has established itself as a key player in financing African trade, sustainable growth, and […]
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 […]
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...
