Airtel Uganda Limited has unveiled its strategic move to launch an Initial Public Offering (IPO) involving 8 billion existing ordinary shares, equating to a 20% stake in the company. The IPO, which was officially initiated on August 30, 2023, is set to conclude on October 13, with the primary objective of garnering a substantial capital […]
In a remarkable turn of events, Grayscale Investments LLC has emerged victorious in its high-stakes legal confrontation with the United States Securities and Exchange Commission (SEC). The battle revolved around Grayscale’s ambition to transition its over-the-counter Grayscale Bitcoin Trust (GBTC) into a publicly listed Bitcoin exchange-traded fund (ETF). The SEC had earlier declined Grayscale’s GBTC […]
In a move set to invigorate Kenya’s economic landscape, the Nairobi Securities Exchange (NSE) and the Kenya Association of Manufacturers (KAM) have forged a strategic partnership aimed at advancing capital market financing opportunities for the country’s manufacturing sector. The collaboration is anticipated to play a pivotal role in fostering financial inclusivity, accelerating SME growth, and […]
In a bid to manage mounting financial pressures, Country Garden, one of China’s largest private property developers, has formally requested a 40-day extension on the repayment of a renminbi bond that is set to mature in the upcoming week. This development underscores the growing distress within the Chinese real estate sector. The request, which arrives […]
In a shocking turn of events, Gabon, a Central African nation, experienced a significant plunge in its dollar bonds following a military coup that unfolded on Wednesday. This rapid decline marked the most substantial daily drop since the peak of the COVID-19 pandemic, sending reverberations across financial markets. The coup transpired only weeks after Gabon […]
Safaricom, the leading telecommunications giant, has initiated the early distribution of a final dividend amounting to a staggering Sh24.84 billion to its shareholders, thus contributing to an enhanced liquidity infusion within the economy. This strategic move saw investors receiving their concluding dividends on Tuesday, which were valued at Sh0.62 per share. This figure signifies a […]
In a marked departure from the previous year’s figures, alternative investment fundraising has experienced a significant slowdown, down by 27% year-to-date (YTD), according to data compiled by Preqin. A total of $740 billion has been raised since the beginning of the year, a stark contrast to the $1.02 trillion raised during the same period the […]
In a game-changing move, Finnfund and DFC have pledged a whopping $15 million in financial backing to Kentegra Biotechnology. The aim? Supercharging pyrethrin production expansion in Kenya 🇰🇪. Kentegra Biotechnology Holdings LLC, powered by this substantial investment, is set to process pyrethrum flowers from a staggering 90,000 small-scale Kenyan farmers. The end product? Pyrethrin, a […]
In a decisive move, Vedanta Resources Ltd. has committed to erasing a lingering debt of $250 million owed to its Zambian suppliers. The resolution hinges on Vedanta’s successful repossession of copper mines seized by Zambia’s government over four years ago. The Konkola Copper Mines, taken under provisional liquidation during former President Edgar Lungu’s term in […]
Investor wealth at the Nairobi Securities Exchange (NSE) has been cut in half since its peak valuation of Sh2.9 trillion exactly two years ago, as foreign investors flee the market, sending shockwaves through the financial landscape. Exactly on August 24, 2021, the stock market hit an unprecedented high, soaring to a record valuation of Sh2.94 […]
A new report from the Kenya National Chamber of Commerce and Industry (KNCCI) paints a stark picture of Kenya’s job...
In the interconnected global economy, trade between major economic players can be a source of tension, especially when tariffs and...
In a significant move aimed at addressing long-standing pension arrears, Nigeria’s Federal Executive Council (FEC) has approved the issuance of...
In a strategic move poised to redefine Kenya's financial landscape, Safaricom and the Kenya Bankers Association (KBA) have jointly proposed...