Introduction In a significant step toward rebuilding after one of the most devastating natural disasters in its history, Mozambique has allocated more than $704 million towards post-Cyclone Idai reconstruction efforts. This amount represents 56% of the total planned investment for the reconstruction program, according to a report from the Mozambique News Agency (AIM). The government, […]
Kenya Electricity Generating Company (KenGen), the state-owned utility, has announced a significant investment in the construction of the Olkaria VII geothermal power plant, a project that underscores Kenya’s commitment to renewable energy. With an estimated cost of Ksh 32 billion (approximately USD 248 million), the Olkaria VII plant will add 80.3 megawatts (MW) of clean, […]
The global semiconductor industry is in the midst of an intense competition, with nations around the world ramping up investments to secure a dominant position in this critical sector. In this landscape, Shanghai has taken a significant step by doubling its local domestic chip investment fund. The latest funding round, amounting to approximately CNY14.5 billion […]
In a significant move aimed at expanding its influence and market reach within Africa, Qatar Airways has announced a strategic investment in the South African regional carrier Airlink. The deal, which was finalized on August 20, 2024, will see Qatar Airways acquire a 25% equity stake in Airlink, marking yet another milestone in the Qatari […]
Kenya Airways, the national carrier of Kenya, has reported a net profit of KSh 513 million for the first half of 2024, marking its first profitable period in over a decade. This turnaround comes after a prolonged period of financial difficulties, with the airline last recording a profit of KSh 384 million in 2013. The […]
In a groundbreaking shift in the cryptocurrency investment landscape, BlackRock, the world’s largest asset manager, has officially overtaken Grayscale Investments as the leading manager of cryptocurrency exchange-traded funds (ETFs). With its spot bitcoin (IBIT) and ether (ETHA) ETFs, BlackRock now holds an impressive $21.22 billion in assets under management (AUM), surpassing Grayscale’s combined $21.20 billion […]
In a significant development for Nigeria’s power sector, the Nigerian Society of Engineers (NSE), Abeokuta branch, has expressed robust support for the $500 million investment by the Japanese International Cooperation Agency (JICA) to enhance power infrastructure in Ogun State. This investment, which was recently disclosed by the Minister of Power, Adebayo Adelabu, is aimed at […]
Jubilee Insurance, a leading player in the East African insurance market, has launched an ambitious campaign dubbed “There’s living, and there is living free,” aiming to close the gap between complex insurance concepts and the everyday needs of customers across Kenya and the broader East African community. The initiative is set to run throughout the […]
South Korea took a bold step toward reinforcing its position as a global research and development (R&D) hub. The Ministry of Trade, Industry, and Energy (MOTIE) announced the launch of the “Korea-Global Innovation Investment Alliance,” a groundbreaking initiative designed to attract and support R&D investments by multinational companies. This strategic alliance is expected to significantly […]
In a landmark move poised to reshape the Democratic Republic of the Congo’s (DRC) economic landscape, British International Investment (BII) has committed up to $35 million towards the development of the country’s first deepwater container port, the Port of Banana. This investment, in collaboration with global logistics giant DP World, marks a significant extension of […]
Despite confronting a challenging economic environment marked by slower GDP growth, elevated interest rates, and mounting operational expenses, Kenya's banking...
The United States government shutdown has entered a critical phase as it becomes the second-longest funding lapse in the nation's...
In a landmark move that signals a significant shift in international financial cooperation and the evolving architecture of global finance,...
The Central Bank of Kenya (CBK) has launched a strategic KSh 30 billion voluntary buyback programme for investors holding the...
