The Nairobi Securities Exchange (NSE) witnessed a significant surge on Tuesday, boosting investor wealth by Sh95.53 billion, marking its largest single-day gain in 18 months. This propelled the market capitalization to Sh1.831 trillion by day’s end. Local investors, particularly institutional players, drove this surge, showing a strong preference for blue-chip stocks. Analysts attribute this to […]
The Saudi Investment Bank (SAIB) has received regulatory approval from the Capital Market Authority (CMA) for its proposed capital hike, marking a significant milestone for the institution. Under the approved plan, SAIB will issue one bonus share for every four owned shares, reflecting its commitment to strengthening its financial position. To implement the capital increase, […]
Africa Finance Corporation (AFC) has announced the successful closure of a significant syndicated loan facility worth $1.16 billion. Initially set at $1 billion, the offering saw an impressive oversubscription rate of 49%, reflecting strong investor interest in AFC’s mission to address Africa’s infrastructure deficit. The increased facility size underscores AFC’s commitment to accelerating sustainable solutions […]
BlackRock, a global asset management giant overseeing $9.1 trillion in assets, has reentered the Nairobi Securities Exchange (NSE) after a four-year hiatus, marking a significant development for Kenya’s financial sector. Governor Kamau Thugge of the Central Bank of Kenya revealed that BlackRock identified Kenya among ten global economies for potential investment opportunities. Following discussions, BlackRock […]
Goldman Sachs continues to express confidence in the commodities market for 2024, citing both cyclical and structural factors alongside geopolitical considerations. Year-to-date returns of 9% are expected to climb to 15% by year-end. The bank’s research indicates a projected 20% return in specific sectors, notably energy and industrial metals excluding nickel and zinc, within the […]
Egypt’s telecommunications powerhouse, Telecom Egypt, along with the Information Technology Industry Development Agency (ITIDA), have forged a significant partnership with India’s esteemed network firm, TEJAS, signaling a pivotal moment in cross-border cooperation in telecommunications and technology. The memorandum of understanding (MoU), unveiled by the Ministry of Communications and Information Technology, underscores TEJAS’ commitment to manufacturing […]
Kenya is embarking on a transformative journey into nuclear energy, with an allocation of Sh11 billion for the development of its first nuclear research reactor. Spearheaded by the Nuclear Power and Energy Agency (NuPEA), this initiative is poised to revolutionize various sectors, from research and education to healthcare and industry. The strategic plan outlined by […]
Schneider Electric, a global leader in energy management and automation, has teamed up with UAE-based Positive Zero to accelerate the transition to sustainable energy solutions in the region. This collaboration aims to leverage clean energy technologies to move towards a net-zero future. The partnership will focus on various initiatives to advance decarbonisation-as-service programs across the […]
Telkom South Africa has announced its decision to sell its masts and towers business, currently operating under Swiftnet, for an enterprise value of ZAR 6.75 billion. This strategic move aligns with Telkom’s goal of optimizing its financial position and focusing on core operations by shedding non-core assets. The acquisition will be led by Towerco Bidco […]
Micro, Small, and Medium Enterprises (MSMEs) in West Pokot and Turkana counties are poised to benefit from a significant funding opportunity. The Impact for Northern Kenya Fund, with a total value of $30 million, aims to provide crucial financial support to local businesses in collaboration with USAID Kuza. Already, over 1,500 MSMEs in the region […]
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