Ndovu Wealth Limited, a leading fintech company in Kenya, has made significant strides in democratizing financial investment opportunities with the launch of its Money Market Fund (MMF), known as the Ndovu Fund. Announced on October 1, 2024, the new fund aims to provide Kenyans with a low-risk, diversified, and affordable investment platform. The launch is […]
In a significant development for Middle East and Africa’s (MEA) entrepreneurial ecosystem, Singapore-based multi-business operator and long-term investor Agility Global has announced an investment in Global Ventures’ third fund. While the exact investment amount remains undisclosed, the backing signals a substantial vote of confidence in the region’s burgeoning startup scene, particularly in sectors like supply […]
Varun Beverages, a subsidiary of India’s food and beverage conglomerate RJ Corp, has announced plans to invest $50 million in constructing a Pepsi production facility in the Democratic Republic of the Congo (DRC). This development marks a significant milestone in the company’s African expansion, underscoring its confidence in the region’s growth potential and its commitment […]
On September 30, 2024, the African Development Bank (AfDB) made a significant move in the infrastructure financing landscape by acquiring a $10 million equity stake in Kenya’s Dhamana Guarantee Company. This strategic investment follows an anchor investment by the UK-Government-backed Private Infrastructure Development Group (PIDG) through its subsidiary, InfraCo Africa. The signing ceremony took place […]
San Francisco: Global investment firm Fidelity has drastically reduced the valuation of its stake in X, formerly known as Twitter, by 78.7%, suggesting the social media platform’s overall valuation has plummeted to just $9.4 billion. This stark contrast to its original $44 billion purchase price in October 2022 highlights the challenges Elon Musk’s platform faces […]
In a significant move toward enhancing economic collaboration within the African continent, the Central Bank of Egypt (CBE) is set to launch a sovereign investment guarantee agency for Africa on Tuesday. With an initial capital of $50 million, this groundbreaking agency aims to encourage investment, strengthen trade ties, and foster economic integration among African nations. […]
Safaricom, Kenya’s largest telecommunications network provider, has expressed openness to a potential partnership with Elon Musk’s satellite internet provider, Starlink. This development signals a significant shift in the dynamics of Kenya’s telecommunication and internet service sectors, which have been dominated by Safaricom for decades. Speaking to Bloomberg, Safaricom CEO Peter Ndegwa explained that partnering with […]
Thailand’s underperforming $77 billion Social Security Fund (SSF) has announced a strategic overhaul to inject $11.6 billion into global private assets, according to a senior executive, in a move designed to address the fund’s stagnant returns and the looming demographic challenge posed by the country’s aging population. The SSF, Thailand’s largest state fund, which provides […]
In a bid to enhance energy infrastructure across Africa, Standard Bank Group, the largest bank on the continent by assets, has announced a strategic partnership with Meridiam, a global investment Benefit Corporation and asset manager. This collaboration, which has been in place for over four years, focuses on driving investments in alternative energy infrastructure projects. […]
Kakuzi PLC, one of Kenya’s largest agribusiness firms, has announced a significant Sh100 million ($700,000) investment plan for 2025 as part of its efforts to diversify its agricultural portfolio and expand into new markets. This development underscores the company’s long-term strategy of focusing on sustainability and enhancing shareholder value through innovative agricultural ventures. The announcement […]
The Government of Germany, in partnership with the Government of Kenya and the United Nations High Commissioner for Refugees (UNHCR),...
The United Arab Emirates is positioning itself for another year of impressive economic expansion, with government projections indicating that the...
The Republic of South Africa has officially acceded to the Establishment Agreement of the African Export-Import Bank (Afreximbank), marking a...
The Nairobi Securities Exchange has entered uncharted territory as Safaricom's newly launched Ziidi Trader platform triggers unprecedented retail participation, fundamentally...
