The Kenyan government’s Affordable Housing Board has revealed that Ksh46 billion from the housing levy contributions has been invested in short-term government securities, a move aimed at maximizing returns on the collected funds as construction projects face delays. This figure represents a more than double increase from the Ksh20 billion invested in Treasury Bills (T-Bills) […]
In a move that has sent shockwaves through the technology and artificial intelligence sectors, Elon Musk, the billionaire entrepreneur behind Tesla, SpaceX, and X (formerly Twitter), has led a consortium offering $97.4 billion to acquire OpenAI. The artificial intelligence research organization, which Musk co-founded in 2015 alongside Sam Altman, Greg Brockman, and Ilya Sutskever, has […]
As Africa’s digital economy flourishes, an increasing number of freelancers, remote workers, and businesses across the continent are securing international opportunities. However, one of the biggest challenges they face is receiving payments from foreign clients and employers. Traditional banking infrastructure in many African nations remains cumbersome, with barriers such as high transaction fees, foreign exchange […]
In a strategic move to bolster the reliability and reach of electricity in Western Kenya, the Kenya Power and Lighting Company PLC (Kenya Power) has committed nearly KSh.1 billion towards the expansion and modernization of the region’s electrical infrastructure. This substantial investment underscores the company’s dedication to supporting both domestic and industrial consumers across 11 […]
In a significant move reflecting the evolving dynamics of global finance and environmental commitments, Australia’s Macquarie Group announced its departure from the Net Zero Banking Alliance (NZBA) on Tuesday. This decision aligns Macquarie with several major U.S. banks that have recently withdrawn from the UN-backed coalition dedicated to achieving net-zero greenhouse gas emissions by 2050. […]
In a significant boost to South Africa’s economic landscape, the recent KwaZulu-Natal Investment Conference held in Durban witnessed a remarkable commitment from both multinational and local businesses. Sixteen companies pledged a combined investment of R70.8 billion, targeting various sectors including manufacturing, tourism, automotive, logistics, and property development over the next two years. This surge in […]
In a bold move to transform Kenya’s capital markets, the Nairobi Securities Exchange (NSE) has launched an ambitious five-year strategy to attract 9 million active retail investors both domestically and across the Kenyan diaspora. The initiative, which commenced in February 2024, aims to modernize the exchange, improve investor accessibility, and introduce innovative financial products to […]
In a landmark move that underscores France’s ambitions to be at the forefront of artificial intelligence (AI) development, President Emmanuel Macron has announced a record-breaking €109 billion ($113 billion) investment in AI projects. This announcement comes just ahead of the AI Action Summit in Paris, a crucial gathering of global leaders aimed at shaping the […]
In a significant boost to Africa’s growing startup ecosystem, early-stage Pan-African venture capital firm P1 Ventures has successfully closed a $50 million institutional fund to accelerate investments in tech-driven businesses across the continent. Unlike traditional venture capital (VC) firms, P1 Ventures aims to disrupt conventional investment models, focusing on high-growth companies that are “built in […]
In a groundbreaking move set to transform Kenya’s transportation infrastructure, American asset management firm Everstrong Capital has partnered with CPF Capital & Advisory Ltd. to raise $1 billion (KSh 129 billion) for the ambitious Usahihi Nairobi-Mombasa Expressway project. This initiative marks a significant shift in Kenya’s approach to financing large-scale infrastructure developments, emphasizing local investment […]
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,...
