Parkin Company PJSC has reacted swiftly to the remarkable surge in retail investor interest in the UAE, announcing an adjustment to its initial public offering (IPO) allocation. The Securities and Exchange Authority (SCA) has approved an increase in shares offered to retail investors, reflecting the unprecedented demand. Originally set at 74,970,000 ordinary shares, the UAE […]
Eskom’s Chief Financial Officer (CFO) is slated to lead discussions at the upcoming Invest in Africa Energy (IAE) forum in Paris, reinforcing the utility’s dedication to fortifying South Africa’s energy landscape through strategic collaborations with private investors. Set for May 14-15, 2024, the IAE forum serves as a pivotal platform for fostering cooperation between African […]
AA Kenya, a leading driving school firm, has successfully raised Sh 81 million through a recent cash call, falling short of the target but demonstrating resilience in a challenging economic climate. Despite facing hurdles such as high interest rate hikes by the Central Bank of Kenya, AA Kenya’s board highlighted the significance of the capital […]
A high-profile delegation from Germany, comprising 16 influential leaders from various sectors including agricultural technology, insuretech, logistics, renewable energy, manufacturing, infrastructure, and artificial intelligence, is currently in Doha. Led by Gordon Pelz, Vice Chairman of the German Association of SMEs, the delegation’s visit is aimed at exploring investment prospects and enhancing economic cooperation between Qatar […]
Cairo, Egypt: Egypt’s financial sector witnessed a pivotal development today as the country resumed its local currency treasury bond auctions after a four-month hiatus. The Central Bank of Egypt, aiming to gauge market response, offered 2.5 billion Egyptian pounds ($51 million) in three-year bonds and 250 million pounds in five-year bonds. Last week’s devaluation of […]
The Capital Markets Authority (CMA) has introduced new regulations allowing Kenyan companies to issue bonds in East African countries, expanding their funding opportunities. These regulations, detailed in Kenya’s gazette supplement No 204, aim to enhance financial integration in the region. Under the new rules, local firms can raise capital by issuing bonds in any East […]
In a notable downturn, Japanese stocks experienced a significant decline today, with the Nikkei index plummeting as much as three percent. This decline was fueled by a strengthening yen against the dollar and a substantial sell-off in semiconductor stocks. During afternoon trading, the Nikkei index reached a low of 38,496.66 before recovering slightly to close […]
Bamburi Cement has successfully concluded the sale of its entire stake in Hima Cement, its Ugandan subsidiary, fetching an estimated $84 million. This strategic move has investors eyeing the possibility of a special dividend. The sale, finalized on March 5, involved offloading Bamburi’s 70 percent stake to a consortium led by Sarrai Group and Rwimi […]
Pension funds facing challenges in accurately valuing bond holdings amidst market fluctuations have received a reprieve through recent regulatory adjustments by the Retirement Benefits Authority (RBA). Effective December 21, 2023, the RBA implemented amendments allowing pension schemes to exclude unrealized gains or losses from debt instruments when declaring net returns to members. This move addresses […]
Over 120 member states of the World Trade Organization (WTO) have signed the Investment Facilitation for Development (IFD) Agreement, aiming to streamline investment processes in developing and least-developed countries. Despite initial reservations, the pact received broad support, with 75 percent of WTO members endorsing it. The agreement, unveiled just before the 13th ministerial conference in […]
In a significant diplomatic stride, the Republic of Cyprus has officially inaugurated its embassy in Nairobi, marking a pivotal moment...
The Syrian economy, devastated by over a decade of conflict, stands at a critical juncture. On Monday, the World Bank...
The world's youngest nation, South Sudan, is once again at a critical economic crossroads, facing a severe financial crisis that...
In a vibrant display of its growing economic prowess and innovation, Kenyan startups have collectively raised a remarkable Sh17 billion...
