Global asset management giant BlackRock has unveiled a landmark collaboration with Saudi Arabia, signaling a significant milestone in the evolution of Middle Eastern finance. Facilitated by a substantial $5 billion investment from Saudi Arabia’s Public Investment Fund (PIF), this partnership aims to establish BlackRock Riyadh Investment Management (BRIM), a dynamic investment platform tailored for the […]
Grindstone, in collaboration with Usaid Southern Africa Mobilizing Investment, has unveiled an innovative two-year program designed to fuel the growth of startups in South Africa. Named “Grindstone Boost,” this initiative aims to support 40 startups annually, carefully selected from Grindstone’s alumni and other key players in the entrepreneurial ecosystem. Kicking off in July 2024, the […]
AgDevCo, a specialized investor in African agriculture, has made a strategic equity investment in Agris, a division of Maris Ltd, to enhance fresh-food production and distribution in East Africa. This investment, securing a minority stake in Agris, reflects AgDevCo’s confidence in the company’s potential to drive a positive impact in the region’s agricultural sector. The […]
In a significant stride towards fortifying Indonesia’s technological infrastructure, Microsoft announced a substantial investment of $1.7 billion over the next four years. CEO Satya Nadella unveiled this commitment during a high-profile meeting with Indonesian President Joko Widodo in Jakarta. The investment is strategically allocated to bolster Indonesia’s cloud computing and artificial intelligence (AI) capabilities. With […]
Ethiopian eco-startup Kubik has successfully closed its seed funding round, raising an impressive $5.2 million. Leading the investment effort are African Renaissance Partners, alongside prominent backers such as Endgame Capital, Ethiopian Pharo Ventures, and King Philanthropies. Founded in 2021 by Kidus Asfaw and Penda Marre, Kubik operates from its recently established factory at the Adama […]
Glencore, a leading mining and trading entity, has set its sights on Nigeria’s promising mining landscape. CEO Gary Nagle’s visit to Nigeria’s Minister of Solid Minerals signals the company’s intent to explore investment opportunities, particularly in nickel, cobalt, and zinc. Nigeria, eager to attract foreign investment, is actively courting global players like Glencore. Minister Dele […]
In a bid to solidify its position in the semiconductor market, the Italian government has announced a significant investment of $10 billion earmarked for the industry this year. This ambitious move reflects Italy’s determination to emerge as a major player in microelectronics within the European landscape. During a recent gathering of the ruling party Fratelli […]
XENO Investment Management Limited, a Ugandan unit trust scheme, has set its sights on the Kenyan market, marking its strategic expansion beyond its home territory. The company, founded in 2017, has recently obtained regulatory approval to commence operations in Kenya. In their 2023 annual report, XENO’s chairman, Aeko Ongodia, expressed confidence in the firm’s future […]
The United Kingdom has pledged £6.6 million (Sh1.1 billion) to support 50 green investment projects in Kenya. These projects will span across 10 counties: Embu, Kirinyaga, Kisumu, Laikipia, Nairobi, Makueni, Nandi, Taita-Taveta, Vihiga, and Wajir. Guided by the County Green Finance Assessment, this funding aims to address environmental challenges while stimulating economic growth and job […]
Investors, both local and global, have injected over $700 million (approximately P40 billion) into the Philippines’ digital banking sector, marking a significant milestone in the industry’s growth trajectory. Since its establishment in 2021, the Digital Bank Association of the Philippines (DiBA PH) has played a pivotal role in attracting substantial investments to the country’s digital […]
In a decisive move to fortify its economic resilience and reassure international investors, Kenya has finalized a landmark agreement aimed...
A significant trade dispute is brewing between two of the world's largest democracies, India and the United States, as New...
In a strategic move to alleviate its burgeoning debt burden and unlock crucial development financing, Egypt has successfully secured over...
As Kenyans prepare for fresh Saba Saba Day protests on Monday, the government has sounded a strong alarm regarding potential...
