Brazilian fintech giant Nubank, renowned as the world’s largest digital bank by market value, has announced a $150 million investment in Tyme Group, a South African digital banking pioneer. This move positions Tyme as one of Africa’s exclusive “unicorns,” with a valuation surpassing $1.5 billion. Alongside the investment from UK fund manager M&G, this development […]
Sanlam Kenya has embarked on a significant financial restructuring effort, securing shareholder approval for a KSh 3.25 billion rights issue to recapitalize its balance sheet and address its long-term debt obligations. This cash call is aimed at settling an existing loan facility with Stanbic Bank Kenya, providing operational flexibility, and positioning the insurer for future […]
The International Energy Agency’s (IEA) groundbreaking report, The Future of Geothermal Energy, forecasts an extraordinary $2.5 trillion global investment in geothermal energy by 2050. This dramatic expansion reflects the accelerating global transition toward clean energy, with geothermal poised to play a pivotal role in meeting the world’s growing electricity and heating demands. If realized, geothermal […]
The Nigerian Investment Promotion Commission (NIPC) has announced significant achievements in its mission to position Nigeria as a premier investment destination in Africa. Through strategic partnerships and dedicated investment promotion efforts, the NIPC has secured over $50 million in commitments from global firms across key sectors such as agriculture, manufacturing, ICT, healthcare, and renewable energy. […]
Sanlam Kenya Plc (NSE: SLAM), a prominent non-bank financial services firm, has taken a crucial step towards improving its financial stability and operational capacity following shareholder approval for a KES 3.25 billion Rights Issue during an Extraordinary General Meeting (EGM) held today. The approval represents a strategic move to recapitalize the company’s balance sheet, enabling […]
In a historic visit to Angola, President Joe Biden announced over $1 billion in humanitarian aid to alleviate the suffering caused by severe droughts and food insecurity across Africa. Complementing this is a $600 million investment in infrastructure under the Lobito Trans-Africa Corridor initiative. These measures underline the United States’ commitment to fostering sustainable partnerships […]
In a landmark development, South Africa and Angola have elevated their structured bilateral relationship from a Joint Commission of Cooperation to a Bi-National Commission (BNC). This strategic move signifies a deepened commitment to cooperation across trade, investment, regional integration, and global diplomacy. The announcement came during Angolan President João Manuel Gonçalves Lourenço’s State Visit to […]
In a significant step toward modernizing Kenya’s governance and economic landscape, President William Ruto on Wednesday signed into law seven critical bills at State House, Nairobi. These laws, which span tax reform, infrastructure management, anti-corruption measures, and business regulation, are designed to align Kenya with global best practices while fostering local development and governance efficiency. […]
WPP, the world’s largest advertising and marketing services group, has announced a major expansion of its Global Delivery Centre (GDC) operations in India, reaffirming the country’s strategic importance in its global growth and innovation agenda. This move underlines India’s pivotal role as a hub for technological and creative expertise within the organization. The announcement also […]
Saudi Arabia’s Zahid Group, through its Gulf Falcon Holding Ltd. and local partner Entsha Ltd., has made a $1.3 billion bid to acquire Barloworld Ltd., a leading South African construction equipment company. The proposed deal values the Johannesburg-based company at approximately 22.8 billion rand, offering 120 rand per share, which represents a 30% premium over […]
In a decisive move to fortify its economic resilience and reassure international investors, Kenya has finalized a landmark agreement aimed...
A significant trade dispute is brewing between two of the world's largest democracies, India and the United States, as New...
In a strategic move to alleviate its burgeoning debt burden and unlock crucial development financing, Egypt has successfully secured over...
As Kenyans prepare for fresh Saba Saba Day protests on Monday, the government has sounded a strong alarm regarding potential...
