Chevron Corp and Hess Corp, two major players in the oil industry, are preparing for a crucial review of their planned merger by the U.S. Federal Trade Commission (FTC) expected in the third quarter of this year. Originally set to close in the first half of 2024, the $53-billion deal hit a roadblock when Exxon […]
Located strategically on the West Africa Transform Margin, Liberia highlighted its robust petroleum systems, backed by extensive seismic data in the Liberia and Harper basins. Logan drew comparisons with successful ventures in Ghana’s Jubilee field and discoveries in Guyana, emphasizing Liberia’s readiness to tap into significant reserves. “In recent months, there’s been growing interest from […]
Tanzania’s Amsons Group is aiming to acquire Kenya’s Bamburi Cement PLC in a significant deal valued at $180 million (about KSh 23.22 billion). The offer, which includes purchasing Holcim’s entire stake in Bamburi Cement, marks Amsons Group’s strategic move into East Africa’s cement market. Founded in 2006, Amsons Group has grown into a diverse conglomerate […]
Nasdaq Dubai is thrilled to announce the listing of three new Sukuk issuances from Indonesia, totaling an impressive $2.35 billion. This addition bolsters Dubai’s position as the top global hub for Sukuk listings, bringing the total value of Sukuk on the exchange to $96.39 billion. These Sukuk issuances, part of Indonesia’s $35 billion Trust Certificate […]
The United Kingdom has decided to stop its plan to deport asylum seekers to Rwanda, marking a significant change in policy and ending a scheme that faced strong criticism for its perceived harshness. Rwanda’s government responded for the first time, acknowledging the UK’s decision to end the deportation program. They emphasized that the deal, initiated […]
Kenya has taken the lead in start-up investments across Africa in the first half of 2024, despite a downturn in overall venture funding on the continent. According to data from Africa: The Big Deal, Kenyan start-ups secured $244 million (Ksh. 31 billion), capturing a significant 32% share of the total $780 million raised by African […]
Saudi Aramco, the world’s largest oil company, has taken advantage of high investor demand by selling an additional 154.5 million shares. Merrill Lynch Kingdom of Saudi Arabia, the stabilizing manager for the share sale, confirmed this on Tuesday. Last month, Aramco launched a secondary public offering, initially selling 1.54 billion ordinary shares, which was about […]
Six exciting African tech startups have been chosen as finalists for the inaugural “Meet the Tôshikas” programme. This initiative, crafted by the United Nations Development Programme (UNDP), Japan’s Ministry of Economy, Trade and Industry (METI), and Double Feather Partners, aims to deepen connections between Japanese investors and African startup scenes while preparing these startups for […]
Moody’s Investors Service has downgraded Kenya’s long-term issuer ratings to Caa1 from B3, with a continued negative outlook. This decision reflects concerns over the government’s fiscal strategy and its implications for debt sustainability. The downgrade underscores Kenya’s reduced ability to implement revenue-driven fiscal consolidation, critical for improving debt affordability. Moody’s pointed out the government’s recent […]
Start-up investments in the Middle East and North Africa (MENA) region saw a significant decrease in the first half of 2024, amounting to $882 million. This represents a 46% drop from the $1.6 billion raised in the same period in 2023, as reported by Wamda and Digital Digest. The ongoing conflict in Gaza has introduced […]
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...
