Ethiopia has taken a historic step by partially opening its banking sector to foreign investors. This development, marked by a parliamentary vote on Tuesday, is being hailed as a transformative move aimed at revitalizing the country’s economy, which has faced significant challenges in recent years. According to FanaBC, a government-affiliated media outlet, the new banking […]
The Central Bank of Kenya (CBK) has announced the re-opening of two fixed-coupon Treasury bonds, targeting the collection of KSh 30 billion to support government budgetary obligations. These bonds, FXD1/2018/15 and FXD1/2022/25, present long-term investment opportunities with maturities of 15 and 25 years, respectively. This latest move aligns with Kenya’s broader strategy to finance its […]
In a landmark move set to redefine the consulting industry’s trajectory, Sia Partners, a global management and artificial intelligence (AI) consulting firm, has secured a minority investment of up to €250 million from funds managed by Blackstone, the world’s largest alternative asset manager. This collaboration represents a significant milestone for Sia Partners as it enters […]
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 […]
Kenya's electricity sector has reached a critical juncture as the nation recorded unprecedented peak demand of 2,411.98 megawatts (MW) and...
The Federal Reserve announced a quarter-point reduction to its benchmark interest rate on Wednesday, bringing the federal funds rate to...
The United Arab Emirates has solidified its position as one of Africa's most strategic economic partners, ranking fourth globally in...
Emirates Airlines is strategically positioning Kenya as its primary gateway to East and Central Africa, capitalizing on the recently implemented...
