Indonesia has reaffirmed its ban on iPhone 16 sales, maintaining its stance despite Apple’s offer to invest $1 billion in the country. The ban, originally implemented in October 2024, arose from Apple’s failure to comply with Indonesia’s stringent local investment requirements, which mandate that 40% of smartphone components be locally sourced. The decision highlights Indonesia’s […]
The Forum on China-Africa Cooperation (FOCAC) continues to strengthen the enduring ties between China and African nations, charting an ambitious path for mutual growth and development. During a visit to Brazzaville, the capital of the Republic of Congo, Chinese Foreign Minister Wang Yi underscored China’s commitment to “burnishing the credentials” of FOCAC, outlining a comprehensive […]
Kenya has emerged as Africa’s leader in start-up funding for 2024, securing a substantial share of the continent’s venture capital (VC) investments. Despite a global funding slowdown and challenging economic conditions, Kenya’s start-up ecosystem demonstrated resilience, attracting $638 million (Ksh.82.5 billion) in equity, debt, and grants—29% of all funding raised across Africa. The data, compiled […]
Nippon Steel and U.S. Steel have filed a federal lawsuit against President Joe Biden’s administration, challenging its decision to block their $14.9 billion merger on national security grounds. The companies claim the move was politically motivated and that the government improperly influenced the regulatory process to secure political favor in a key swing state. In […]
Cassava Technologies, a leading digital infrastructure and services provider in Africa, has announced the successful closure of a $90 million equity investment. The funding round saw participation from notable investors, including the U.S. International Development Finance Corporation (DFC), the Finnish Fund for Industrial Cooperation (FinnFund), and tech giant Google. This strategic investment is part of […]
The Nairobi Securities Exchange (NSE) started 2025 on a strong note, with multiple indices and key stocks recording remarkable gains during the first trading session of the year. Investor confidence surged as market capitalization grew by KSh 16 billion, buoyed by positive performances from top-listed companies. Kenya Power Leads the Pack with Remarkable Gains Kenya […]
The global venture capital (VC) market showed signs of recovery in 2024, with total investments rising by 5.4% to $368.5 billion, up from $349.4 billion in 2023. Despite this rebound in capital flow, the number of deals dropped significantly, painting a nuanced picture of the state of venture capital in a post-pandemic, economically uncertain world. […]
South Africa’s new tax incentives aimed at fostering electric vehicle (EV) and hydrogen-powered vehicle production have sparked interest among Chinese automakers, positioning the country as a potential hub for green automotive innovation. Meanwhile, China’s proposed export controls on EV battery technologies signal a strategic maneuver that could reshape global supply chains in the burgeoning EV […]
HF Group Plc, a leading financial solutions provider in Kenya, has achieved a remarkable milestone with the successful completion of its Rights Issue. The offering, initially targeting KES 4.6 billion, attracted overwhelming shareholder support, raising applications worth KES 6.38 billion and resulting in a subscription rate of 138.32%. This resounding success underscores investor confidence in […]
In a significant policy shift aimed at stabilizing its currency, the South Korean government announced measures to ease foreign exchange (FX) regulations and increase corporate access to overseas borrowing. This move comes as the South Korean won, one of the most traded emerging market currencies, hit a 15-year low against the U.S. dollar. The financial […]
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,...
