In a move that has electrified the East African business landscape, Tanzanian billionaire Mohammed “Mo” Dewji has announced a monumental $100 million investment into the Rwandan economy. This significant commitment by the chairman of MeTL Group, Tanzania’s largest conglomerate, underscores his confidence in Rwanda’s impressive economic trajectory. Dewji, renowned for his keen business acumen and […]
Faulu Bank, a prominent player in Kenya’s microfinance sector, is set to revolutionize the investment landscape with its new Money Market Fund (MMF). This ambitious initiative aims to open the doors to high-yield investment opportunities for everyday Kenyans, potentially transforming the way they save and invest. With a striking initial yield of 16.32% per annum […]
India is taking its space ambitions to new heights! In a move that’s sending ripples through the global space industry, the country has just unveiled a monumental $119 million venture capital fund dedicated to fueling its burgeoning space sector. This hefty investment is a clear signal of India’s intent to carve out a significant slice […]
In a move sparking heated debate, the Nigerian government is proposing a hefty 50% tax on banks’ foreign exchange (FX) gains from 2023. This surprise announcement, championed by Finance Minister Wale Edun and FIRS Chairman Zacch Adedeji, aims to balance the country’s struggling economy, but some fear it could be a risky tightrope walk. Balancing […]
The East African Community (EAC) is undergoing a dynamic transformation, with businesses from Uganda, Tanzania, Rwanda, and Somalia making significant strides into the Kenyan market. This trend is reshaping the region’s economic landscape, challenging the long-held dominance of Kenyan companies and ushering in a new era of competition and collaboration. Factors Driving the Regional Business […]
The recent debacle involving CrowdStrike’s Falcon Sensor software, which caused a global system failure and widespread internet disruptions, initially had many fearing a financial catastrophe for the insurance industry. However, a recent analysis by Fitch Ratings paints a less dire picture than initially anticipated. Limited Financial Impact for Insurers According to Fitch Ratings, the impact […]
Lithium: The “White Gold” of the Electric Vehicle Revolution Lithium, often referred to as “white gold,” is a game-changer in the electric vehicle (EV) revolution. Its lightweight and high electrochemical potential make it a cornerstone for rechargeable batteries, which are the heart of EVs. With environmental concerns driving the shift towards cleaner energy and government […]
The recent acquisition of a 20% stake in Credit Bank by Shorecap III Limited, a private equity fund from Mauritius, marks a pivotal moment for this Kenyan financial institution. This injection of Sh728 million not only bolsters Credit Bank’s capital base but also invites a deeper look into its ongoing recovery efforts and the challenges […]
In a dramatic turn of events, global stock markets experienced significant turbulence overnight following President Joe Biden’s unexpected announcement that he will not be seeking re-election in the 2024 US presidential race. This news, which sent shockwaves through the financial world, was compounded by Biden’s endorsement of Vice President Kamala Harris to face off against […]
In a bold move aimed at revitalizing South Africa’s ailing transportation sector, the African Development Bank (AfDB) has approved a $1 billion loan to Transnet. This substantial financial injection is more than just a lifeline; it represents a pivotal moment for South Africa’s economic prospects. However, the path to recovery is fraught with challenges that […]
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...
