Transforming Regional Trade and Connectivity Kenya’s President William Ruto has unveiled an ambitious plan to extend the Standard Gauge Railway (SGR) to Uganda and South Sudan, a move poised to redefine East Africa’s transportation and trade dynamics. This announcement follows discussions in Abu Dhabi with UAE Investment Minister Mohamed Hassan Alsuwaidi, signaling a landmark partnership […]
Overview and Significance of Synthesia’s Growth Synthesia, a London-based AI company that allows users to generate video content using human-like avatars, has achieved a major milestone. The startup’s $180 million Series D funding round has placed its valuation at $2.1 billion, more than doubling the $1 billion valuation it secured in 2023. The funding round […]
Overview of the Tender Brait, a prominent South African investment firm, has once again faced challenges in its attempt to reduce its convertible bond (CB) liabilities. The company aimed to repurchase R400 million of its outstanding R3 billion CBs, but investors tendered only R99 million worth of bonds. The bonds, which mature in December 2027, […]
Kenya’s tech ecosystem has solidified its position as a leading innovation hub in Africa, attracting more foreign investment in 2024 than any other country on the continent. This marks the second consecutive year that Kenya has outpaced Nigeria in total tech funding, signaling a shift in Africa’s technological and entrepreneurial landscape. Kenya’s Rise to Dominance […]
The Abu Dhabi Investment Authority (ADIA), one of the largest sovereign wealth funds globally, has announced a significant $500 million minority stake investment in AlphaGen, a U.S.-based power infrastructure company owned by ArcLight Capital Partners. This move underscores ADIA’s focus on diversifying its portfolio and targeting high-growth sectors like energy infrastructure to capitalize on the […]
Kenya’s commercial banks have demonstrated remarkable resilience in a challenging economic environment, recording an 11.58% increase in pre-tax profits for the first eight months of 2024. Profits rose to $1.22 billion from $1.09 billion in the same period last year, according to data from the Central Bank of Kenya (CBK). This growth comes despite a […]
Kenya Airways (KQ), one of Africa’s most iconic carriers, has made a triumphant return to the Nairobi Securities Exchange (NSE) after a four-and-a-half-year hiatus. The relisting, marked by strong investor enthusiasm, reflects the airline’s ongoing recovery after years of financial turbulence and operational challenges. Shares of Kenya Airways surged to a high of Sh6 (4.6 […]
In a bold announcement that underscores the growing importance of technology infrastructure, President-elect Donald Trump revealed a $20 billion foreign investment to establish data centers across the United States. The funds come from Emirati billionaire Hussain Sajwani, a long-time Trump associate and the founder of DAMAC Properties, a prominent real estate development company. This announcement, […]
Ethiopia is set to inaugurate its new stock exchange this Friday, marking a historic milestone after more than five decades without a bourse. This development is part of the government’s broader strategy to attract investors and stimulate an economy recovering from the dual challenges of a devastating civil war and persistent regional instability. Ethiopia’s economic […]
Kenya’s Communications Authority (CA) has proposed a dramatic increase in the licensing fees for satellite Internet providers (ISPs), potentially reshaping the digital landscape in one of Africa’s most tech-forward nations. Under the new framework, 15-year licensing fees for satellite ISPs will rise from $12,302 to $115,331, marking an over 800% increase. In addition, providers will […]
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,...
