Serrari Group

IFC Joins P1 Ventures, Injecting $35M into African Startups

P1 Ventures, a prominent player in Africa’s tech sector, has secured a significant investment of $35 million, highlighting growing confidence in the region’s startup ecosystem. Despite global economic uncertainties, this funding round underscores the potential and attractiveness of Africa’s emerging markets. The partnership between P1 Ventures and the International Finance Corporation (IFC), a member of […]

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NCBA Secures Sh6.7 Billion Loan from Proparco for SMEs and Green Financing

NCBA Group has sealed a substantial agreement with Proparco, securing a $50 million loan aimed at bolstering small and medium-sized enterprises (SMEs) and advancing green financing initiatives. The loan, equivalent to approximately Sh6.73 billion, was formalized during a signing ceremony held at Nairobi’s Serena Hotel on March 18, 2024. Under the terms of the agreement, […]

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Borse Dubai Plans $1.6 Billion Nasdaq Stake Sale

In a significant move, Borse Dubai Ltd. has announced intentions to divest a portion of its stake in Nasdaq Inc. through a secondary share offering, aiming to raise approximately $1.6 billion. The plan entails selling 26.96 million shares of Nasdaq’s common stock at $59 per share, which would reduce Borse Dubai’s stake to around 10.8%. […]

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Uber Ventures into Africa with Investment in Moove’s $100 Million Series B

Pan-African mobility fintech startup Moove has successfully concluded a $100 million Series B funding round, with notable participation from ride-hailing giant Uber, marking its initial foray into the African investment landscape. This collaboration further cements the existing partnership between Uber and Moove, with Uber being Moove’s primary car financing and vehicle supply partner across Africa […]

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Safaricom Streamlines Dividend Payments, Embraces Electronic Transfers

Safaricom, Kenya’s leading telecommunications company, is revolutionizing its dividend payment system by transitioning away from traditional cheque payments towards faster electronic methods. This move aims to enhance efficiency and convenience for its extensive shareholder base. In a recent announcement, Safaricom urged shareholders to update their payment preferences and contact details with its shares registrar, Image […]

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Pakistan’s Central Bank Holds Interest Rate at 22% Amidst Inflationary Concerns

Pakistan’s central bank, in its latest policy meeting on Monday, opted to maintain its key interest rate at 22%, marking the sixth consecutive meeting without change. The decision reflects ongoing efforts to balance inflationary pressures with economic stability. Analysts had widely anticipated this decision, acknowledging the necessity of a cautious approach amidst lingering inflation risks. […]

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MTek Secures $1.25 Million Investment to Propel Insurtech Growth

Kenya-based insurtech firm, mTek, has secured a substantial $1.25 million investment from Verod-Kepple Africa Ventures (VKAV) and Founders Factory Africa (FFA), signaling a significant boost for the region’s digital insurance landscape. The investment comes at a crucial juncture for mTek, positioning the company to accelerate its expansion efforts within both the Kenyan and broader East […]

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NSE Sees Significant Growth Powered by Safaricom and Banks

The Nairobi Securities Exchange (NSE) witnessed a substantial surge in investor wealth on Thursday, with a remarkable increase of Sh38.6 billion, marking the largest single-day gain in eight months. This surge was primarily attributed to the impressive performance of Safaricom and key players in the banking sector. Safaricom, the leading telecommunications company in Kenya, drove […]

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Samsung Secures $6 Billion US Investment for Semiconductor Expansion

Samsung Electronics has inked a significant deal with the US government, sealing a $6 billion investment aimed at expanding its semiconductor operations within the United States. This strategic move, set to be unveiled by the end of March, is part of the 2022 Chips and Science Act, designed to bolster America’s semiconductor industry. The Korean […]

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Egyptian Natural Gas Holding Co. Expands into Saudi Arabia

The Egyptian Natural Gas Holding Co. (EGAS) has made a strategic move by establishing “Modern Gas” Saudi Arabia, a subsidiary in the Kingdom with EGAS holding an 80% ownership stake. This expansion into Saudi Arabia is part of EGAS’s broader offshore strategy, particularly focusing on Gulf Cooperation Council (GCC) countries. Egypt faces economic challenges, including […]

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