ARISE Integrated Industrial Platforms (ARISE IIP), a pan-African developer and operator of industrial parks, has made headlines by securing $443 million in new capital to expand its operations across 12 African countries. The funding, primarily sourced from major African financial institutions, is a strategic step toward accelerating the industrialization of the continent. This capital will […]
Kenya’s capital, Nairobi, is on the brink of a significant transportation overhaul as the World Bank is set to inject billions into the development of a new 58-kilometer commuter rail system. This ambitious project is part of the wider Kenya Urban Mobility Improvement Project (KUMIP), which aims to streamline the city’s transport services, reduce road […]
OpenAI, the pioneering artificial intelligence research lab behind the popular ChatGPT, has successfully secured $6.6 billion in funding, boosting its valuation to a staggering $157 billion. This round of investment attracted major participants, including returning venture capital firms like Thrive Capital and Khosla Ventures, along with tech giants such as Microsoft and Nvidia. Additionally, investment […]
Zambia has secured a significant investment of $58 million aimed at bolstering its digital infrastructure, an achievement driven by the government’s removal of taxes on the importation of digital equipment. This initiative, implemented since 2021, has enabled the country to establish vital fiber optic connections with its eight neighboring countries, significantly enhancing regional connectivity and […]
Ndovu Wealth Limited, a leading fintech company in Kenya, has made significant strides in democratizing financial investment opportunities with the launch of its Money Market Fund (MMF), known as the Ndovu Fund. Announced on October 1, 2024, the new fund aims to provide Kenyans with a low-risk, diversified, and affordable investment platform. The launch is […]
In a significant development for Middle East and Africa’s (MEA) entrepreneurial ecosystem, Singapore-based multi-business operator and long-term investor Agility Global has announced an investment in Global Ventures’ third fund. While the exact investment amount remains undisclosed, the backing signals a substantial vote of confidence in the region’s burgeoning startup scene, particularly in sectors like supply […]
Varun Beverages, a subsidiary of India’s food and beverage conglomerate RJ Corp, has announced plans to invest $50 million in constructing a Pepsi production facility in the Democratic Republic of the Congo (DRC). This development marks a significant milestone in the company’s African expansion, underscoring its confidence in the region’s growth potential and its commitment […]
On September 30, 2024, the African Development Bank (AfDB) made a significant move in the infrastructure financing landscape by acquiring a $10 million equity stake in Kenya’s Dhamana Guarantee Company. This strategic investment follows an anchor investment by the UK-Government-backed Private Infrastructure Development Group (PIDG) through its subsidiary, InfraCo Africa. The signing ceremony took place […]
San Francisco: Global investment firm Fidelity has drastically reduced the valuation of its stake in X, formerly known as Twitter, by 78.7%, suggesting the social media platform’s overall valuation has plummeted to just $9.4 billion. This stark contrast to its original $44 billion purchase price in October 2022 highlights the challenges Elon Musk’s platform faces […]
In a significant move toward enhancing economic collaboration within the African continent, the Central Bank of Egypt (CBE) is set to launch a sovereign investment guarantee agency for Africa on Tuesday. With an initial capital of $50 million, this groundbreaking agency aims to encourage investment, strengthen trade ties, and foster economic integration among African nations. […]
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The Kenyan government has published the Draft Kenya Sovereign Wealth Fund Bill, 2025, a landmark piece of legislation that establishes...
