In a significant move to enhance its presence in East Africa, Egyptian lender Commercial International Bank (CIB) has inaugurated its seventh branch in Kenya. This new branch, located in Mombasa, is part of CIB’s strategic plan to leverage the robust trade links between Kenya and Egypt and further expand its operations across the region. This […]
In a bold move to deepen economic ties and boost mutual investments, Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has signed six memorandums of understanding (MoUs) worth a staggering $50 billion with major Chinese financial institutions. This significant agreement underscores a pivotal moment in Saudi-Chinese relations, aligning perfectly with the kingdom’s Vision […]
In a significant stride towards combating climate change in Africa, Helios Investment Partners has secured an initial $200 million for its climate mitigation and adaptation projects. This funding, backed by Britain’s development bank, the European Investment Bank, and other prominent climate investors, marks a crucial step in mobilizing resources to foster sustainable development across the […]
In a historic and groundbreaking move, the Nairobi Securities Exchange (NSE) has officially welcomed the Linzi Sukuk bond into its unquoted securities platform. This momentous event, graced by the presence of President William Ruto at the Exchange building, marks the listing of the first Islamic and Sharia-compliant financial asset on the NSE. It’s a bold […]
In a significant boost to investor confidence, Meta Platforms Inc., the parent company of Facebook and Instagram, has reported impressive revenue growth, setting the stage for an ambitious expansion into artificial intelligence (AI). CEO Mark Zuckerberg highlighted the strength of Meta’s core advertising business as a key factor that will enable the company to continue […]
In a remarkable display of enthusiasm and entrepreneurial zeal, the Federal Government’s relaunched N100 billion restructured Nigeria Youth Investment Fund (NYIF) has attracted an incredible 80,000 applications within just 72 hours. This surge of interest underscores the immense drive among young Nigerians to seize opportunities and embark on innovative ventures. Government Initiatives and Youth Engagement […]
In an impressive turn of events, Centum Investment has announced a remarkable profit of KSh556 million for the year ending March 31, 2024. This represents a dramatic turnaround from a loss of KSh61 million in the previous year, showcasing the company’s successful strategic pivot and resilient financial management in a challenging economic landscape. A Triumphant […]
On Tuesday, the UK’s competition watchdog announced that it is investigating Google’s partnership with the AI startup Anthropic, adding another layer of regulatory scrutiny to the significant investments pouring into the AI sector. The Competition and Markets Authority (CMA) has opened a call for comments to determine whether the collaboration between Google and Anthropic has […]
In the bustling heart of Lagos, Nigeria, a multi-billion-dollar saga is unfolding, pitting Africa’s wealthiest man, Aliko Dangote, against the Nigerian government. At the center of this high-stakes drama is the Dangote Petroleum Refinery, a $20 billion project that promised to transform Nigeria’s oil industry. However, the refinery is now entangled in accusations of monopolistic […]
In a significant boost to Kenya’s automotive industry and its green energy initiatives, Chinese electric vehicle (EV) manufacturer Chery is set to invest $20 million in local auto dealer Afrigreen Automobile to establish an EV assembly plant in Nairobi. This strategic move is poised to create around 3,000 direct and indirect jobs, marking a substantial […]
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...
