Kenya’s previously tax-free infrastructure bonds, hailed for their role in financing critical development projects, are set to lose their tax-exempt status following plans by the National Treasury to reintroduce withholding tax on gains from these bonds. This move, part of broader fiscal reforms outlined in the reintroduced Finance Bill 2024, signals a significant policy shift […]
The Nationality, Passports, and Residence Affairs (NPRA) of Bahrain has successfully issued over 10,000 Golden Residency permits to individuals from 99 different countries. This strategic move forms part of Bahrain’s concerted efforts to enhance its residency system, fuel economic growth, and attract a diverse range of skilled talent. The initiative aligns with directives from His […]
The Competition Tribunal’s decision to block a major merger between Vodacom, South Africa’s leading telecom operator, and fibre network operator Maziv, is expected to have significant repercussions on the telecommunications industry. Analysts warn that this could derail the broader strategy of using mergers and acquisitions (M&A) to rapidly expand digital infrastructure, potentially slowing sector growth […]
The Central Bank of Kenya (CBK) has reported that UBA Kenya breached capital requirements, failing to meet the 8% minimum core capital-to-deposit ratio due to ongoing losses. In a report highlighting regulatory breaches among Kenyan banks, the CBK noted that UBA Kenya’s core capital-to-deposit ratio dropped significantly from 29.46% in 2022 to 7.92% in 2023, […]
The global race to address climate change and achieve net-zero emissions by 2050 demands substantial investments, yet a new report from Moody’s Investors Service warns that the financial resources necessary for this transition are still far from sufficient. According to the report, a staggering $2.7 trillion investment gap per year could undermine the global ambition […]
South Africa is adjusting its financial strategies to address complex economic shifts, both domestically and globally, by holding weekly auctions for inflation-linked bonds. This step forms part of a broader debt management approach intended to stabilize the national economy, especially as the rand remains relatively steady despite significant changes in both the global economy and […]
Nairobi Gate Industrial Park, a leading logistics and warehousing hub located along Nairobi’s Eastern Bypass, has committed Sh903 million (around $7 million) to expand its industrial capacity. This new phase of development adds 130,000 square feet of modular warehouse units designed to support Kenya’s growing light manufacturing sector, including agro-processing and textiles. The industrial park, […]
Z Capital Group (“ZCG”), a leading privately held merchant bank, has announced a landmark move to enhance its global footprint through a dedicated commitment to the Kingdom of Saudi Arabia (“the Kingdom”). As part of its strategic expansion, ZCG has pledged up to $2 billion to support the Kingdom’s burgeoning economy, focusing on high-growth small […]
African venture capital firm Janngo Capital has achieved a significant milestone, successfully closing its second fund at €73 million (approximately $78 million). This fund will enable the firm to invest in promising African startups, driving economic growth and technological advancement on the continent. Janngo Capital, known for supporting category-defining startups, plans to grow its portfolio […]
Kenya Power and Lighting Company (KPLC) has reported a net profit of Ksh30 billion for the fiscal year ending June 30, 2024, marking a significant turnaround after several years of financial challenges. This profit announcement has opened the door for the company to declare its first dividends to shareholders in over seven years, signaling renewed […]
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,...
