In response to shifting consumer demands and technological advancements, Standard Bank South Africa has strategically expanded its physical footprint across the nation. Despite the pervasive trend towards digital banking solutions, the bank has seen a notable increase in branch numbers, from 619 to 652 in 2023, with a further projected growth of over 5% by […]
NCBA Bank Kenya faced a notable downturn in revenue from its digital platforms, including Fuliza, Mshwari, and Loop, with a substantial 34% drop, amounting to Sh2.59 billion in the financial year ending December 2023. This decline was primarily attributed to reduced charges on the Fuliza overdraft facility. Despite an increase in the volume of transactions […]
UK investors displayed a strong preference for US equities in March, injecting £2.30 billion into equity funds and contributing to a robust start for Q1 2024. According to Calastone’s Fund Flow Index (FFI), this surge propelled total inflows to £6.97 billion since January. North American funds emerged as the top choice, attracting an unprecedented £5.72 […]
BURN Manufacturing, a leader in clean cookstove production, has announced a significant investment exceeding $12 million to advance clean cooking initiatives across Africa. The investment, facilitated by Key Carbon Ltd. and backed by Cartesian, aims to address the challenges posed by traditional cooking fuels in Sub-Saharan Africa. With approximately 950 million people in the region […]
Japanese trading firm Kaiho Industry Co. Limited has initiated operations in Kenya, targeting the wholesale and retail sectors of the automotive spare parts market. The company’s debut auction in Nairobi signals its strategic entry into the region’s burgeoning used automotive spare parts and accessories segment. African Business Consultant for Kaiho, Lucy Koyama, highlighted the company’s […]
Blackstone, a global private equity firm managing $1 trillion in assets, has unveiled its ambitious investment strategy for India, with a commitment of $25 billion over the next five years. This announcement positions India as a key destination for Blackstone’s capital, following the US and UK. Jonathan Gray, Blackstone’s Chief Operating Officer, highlighted India’s attractive […]
Adenia Partners Ltd., a seasoned private equity firm with a keen eye on African opportunities, has sealed its fifth and largest Africa-focused fund to date, raising an impressive $470 million. This substantial investment underscores growing investor confidence in Africa’s potential as a lucrative investment destination. The Adenia Africa Fund, with its diverse investor base including […]
Triply.co, a pioneering Kenyan travel tech startup, has received a significant boost with a $500,000 investment from renowned accelerator Y Combinator. This partnership marks Y Combinator’s maiden foray into Africa’s travel tech sector, highlighting the immense potential of Triply.co in reshaping Kenya’s travel landscape. Helmed by co-founders Peter Wachira and Collins Muthinja, Triply.co stands out […]
In a significant move aimed at enhancing its global energy footprint, Saudi Aramco has announced contracts worth $7.7 billion for the expansion of its Fadhili gas plant. The expansion will increase the plant’s processing capacity from 2.5 to 4 billion standard cubic feet per day and is scheduled for completion by November 2027. The contracts […]
In a strategic move to bolster economic resilience in Africa, The Trade and Development Bank (TDB) has secured a significant funding boost of $100 million from British International Investment (BII), the UK’s development finance division. With assets exceeding $5 billion, TDB has established itself as a key player in financing African trade, sustainable growth, and […]
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...
