In a significant move aimed at accelerating industrialization in Nigeria, the International Finance Corporation (IFC) has announced a $50 million investment in the Lagos Free Zone (LFZ), marking a major milestone in the country’s push for economic expansion. The investment, made public on February 7, 2025, signals IFC’s commitment to fostering sustainable growth in Africa’s […]
In a landmark decision aimed at improving the travel experience and positioning Kenya as a premier aviation gateway, the Cabinet has endorsed a comprehensive plan to reform customs, streamline airport operations, and boost intra-African travel. The most notable measure is the increase in the duty-free import limit for arriving passengers from Sh50,000 to Sh250,000, significantly […]
Restrata, a London-based provider of operational resilience software and services, has announced a significant investment from Scottish Equity Partners (SEP). This strategic partnership aims to accelerate Restrata’s product development, integrate AI-powered enhancements, and expand its operations across North America, Europe, and the Middle East. Founded in 2006, Restrata has established itself as a leader in […]
Aliko Dangote, Africa’s wealthiest individual and Chairman of the Dangote Group, has announced significant investment expansion in Ethiopia. This move reflects both his growing confidence in the country’s economic potential and his broader ambition to consolidate his influence in Africa’s industrial sector. His latest investment push includes expanding his cement production capacity, establishing a new […]
The Nairobi Securities Exchange (NSE) has received a significant boost following the addition of two more Kenyan-listed companies to the Morgan Stanley Capital International (MSCI) Inc. frontier markets indices. This development is expected to enhance the visibility of Kenyan equities among foreign investors, fostering increased inflows and strengthening confidence in the country’s capital markets. The […]
In a development that has sent ripples through the international business community, Volkswagen’s protracted tax dispute with India has resurfaced, highlighting the challenges foreign investors face in the country. The German automotive giant is contesting a staggering $1.4 billion tax demand from Indian authorities, a move that has reignited concerns about India’s complex tax environment […]
The African Union (AU) and the Organisation for Economic Co-operation and Development (OECD) are set to launch the Africa Virtual Investment Platform (AVIP), a landmark initiative designed to enhance investment flows into African economies. The initiative, which aligns with the AU’s Agenda 2063, aims to address challenges faced by investors, bridge financing gaps, and accelerate […]
The abrupt shutdown of the United States Agency for International Development (USAID) under President Trump’s executive order has sent shockwaves through Kenya’s startup ecosystem, abruptly cutting off a crucial stream of non-dilutive funding that many early-stage businesses relied on for growth. Over the past decade, USAID’s Development Innovation Ventures (DIV) program has injected more than […]
In a significant milestone underscoring Saudi Arabia’s ambitious economic transformation, Minister of Investment Eng. Khalid Al-Falih announced that nearly 600 global companies have established their regional headquarters in the Kingdom. This revelation came during a panel discussion titled “Ministerial Perspective on the Role of the Government to Enable the Private Sector,” part of the third […]
In a significant boost to Nigeria’s economic transformation agenda, President Bola Tinubu has commended the International Finance Corporation (IFC) for its recent $50 million equity investment in the Lagos Free Trade Zone. The investment, which falls under the Tolaram initiative, is set to further strengthen Nigeria’s industrial base, enhance trade efficiency, and attract foreign direct […]
The financial stability of Kenya, a key economic hub in East Africa, has come under scrutiny as the nation's foreign...
In a significant revision to its economic outlook, J.P. Morgan now expects the U.S. Federal Reserve to cut interest rates...
In a landmark development for its economy, Nigeria's crude oil production has officially crossed the 1.8 million barrels per day...
In a major development for Nairobi's urban landscape, the European Investment Bank (EIB), through its specialized development arm, EIB Global,...
