Kenyan coffeehouse chain Java House is set for yet another change of ownership as Actis, a UK-based private equity (PE) firm, exits the company. The new owners, Alterra Capital and Phatisa Group, will acquire majority and minority stakes, respectively, with control rights, marking Java House’s fourth ownership transition in 12 years. This move underscores the […]
The global financial markets were rocked on Monday as a massive selloff in technology stocks wiped billions from valuations, marking one of the most turbulent days for the sector in recent memory. The catalyst? A revolutionary low-cost artificial intelligence model unveiled by Chinese startup DeepSeek, which analysts believe could threaten the dominance of established players […]
Naked, a South African insurtech startup revolutionizing the insurance industry through artificial intelligence (AI), has raised R700 million ($38 million) in its latest Series B2 funding round. The funding, led by global impact investor BlueOrchard, represents the largest single investment in the African insurtech sector to date and underscores the rapid evolution of the insurance […]
In a major development for Kenya’s economic outlook, Moody’s Investors Service has upgraded the country’s sovereign credit rating to “positive” from “negative,” citing an easing of liquidity risks and potential improvements in debt affordability. The announcement, made on January 25, 2025, comes seven months after the agency had downgraded Kenya’s rating, a move that had […]
In a move that underscores its resilience and ambition, Bahrain is preparing to issue $2-3 billion in international bonds and sukuk in 2025. This follows the successful $1 billion sukuk issuance by state-owned Bapco Energies earlier this month, highlighting the nation’s commitment to solidifying its position as a leader in the Islamic finance sector. Economic […]
In a move designed to bolster operational efficiency and curb fraudulent activities, banks across Nigeria have commenced enforcement of new withdrawal limits for Point-of-Sale (PoS) terminals. The directive, issued by the Central Bank of Nigeria (CBN) on December 17, 2024, sets daily and weekly withdrawal caps at N100,000 and N500,000, respectively. This policy marks a […]
Foreign investors withdrew a staggering Sh16 billion from Kenya’s capital markets in the last quarter of 2024, driven by political tensions that overshadowed the country’s otherwise stable economic performance. This development, revealed in the Capital Markets Authority (CMA) quarterly Capital Markets Soundness Report, highlights the challenges facing Kenya’s investment climate despite economic growth and currency […]
In a significant development underscoring the deepening economic and strategic ties between the United States and Saudi Arabia, Crown Prince Mohammed bin Salman announced the kingdom’s intention to invest $600 billion in the U.S. over the next four years. This pledge, made during a congratulatory phone call to President Donald Trump following his recent inauguration, […]
Moniepoint Inc., Nigeria’s leading business payments and banking services platform, has received a strategic investment from Visa, the global leader in digital payments. This investment not only solidifies Moniepoint’s position as a major player in the African fintech landscape but also highlights Visa’s commitment to advancing financial inclusion across the continent. Founded in 2015 by […]
The financial turbulence surrounding Genghis Capital, a leading Kenyan investment firm, has escalated as the Capital Markets Authority (CMA) steps in to demand a repayment roadmap. The firm finds itself embroiled in a $2.7 million (KSh 355 million) debt dispute with South African businessman Auswell Mashaba, a conflict that now threatens the company’s operational stability. […]
The Kenya Revenue Authority (KRA) has recorded a stunning 256.7 % increase in tax collections at Kisumu Port for the...
In a dramatic turn of events at the Asia‑Pacific Economic Cooperation (APEC) summit in Busan, South Korea, U.S. President Donald...
South Africa’s long-running conversation about preparing young people for the digital economy has moved decisively from pilots to national scale....
The dynamics of equity trading at the Nairobi Securities Exchange (NSE) are undergoing a significant transformation. Foreign investor activity has...
