Saudi Aramco has signed contracts worth over $25 billion to advance the Jafurah gas field and expand its main gas network. This significant move aims to enhance Saudi Arabia’s standing as a leader in unconventional gas production. The contracts encompass the second phase of the Jafurah field’s development and the third phase of the main […]
At the Africa Rail 2024 Conference held at the Sandton Convention Centre, Hishaam Emeran, President of the Southern African Railways Association (SARA), emphasized the transformative potential of rail infrastructure in driving Africa’s economic growth. Addressing delegates, Emeran, who also serves as CEO of the Passenger Rail Agency of South Africa (PRASA), highlighted the urgent need […]
Ernst & Young LLP (EY Kenya), a leading provider of professional services based in Kenya, faces a significant setback as the World Bank Group (WBG) announces its 30-month debarment. This action follows investigations into EY Kenya’s involvement in key projects aimed at enhancing economic institutions and financial management in Somalia. EY Kenya, renowned for its […]
Jain Global, a hedge fund established by former Credit Suisse manager Bobby Jain, has raised $5.3 billion in preparation for its July launch. Among the notable investors is the Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds. Strategic Backing from Major Institutions In addition to ADIA, Jain Global has secured […]
The African Energy Chamber (AEC) recently hosted the Invest in African Energies roadshow in Lagos, attracting over 250 Nigerian entrepreneurs and investors keen on exploring opportunities across Africa’s energy sectors. This event served as a precursor to the upcoming African Energy Week: Invest in African Energy 2024 conference in Cape Town, scheduled for November. Nigeria, […]
In a significant stride towards enhancing digital infrastructure in Africa, Dr. Thani Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, has lauded the recent partnership between G42 and Microsoft in Kenya. Describing it as “just the beginning,” Dr. Al Zeyoudi emphasized the collaboration’s potential to drive technological innovation and economic growth in the […]
San Francisco-based Bright Machines, an innovator in AI-driven manufacturing automation, has announced the successful completion of its Series C funding round, raising $106 million. This round saw participation from notable investors including Nvidia, Microsoft, Eclipse Ventures, Jabil, and BlackRock. In addition, the company secured $20 million in debt financing from J.P. Morgan. Bright Machines specializes […]
Saraya Japanese Middle East for Industrial Investment has inaugurated a $12 million factory in the Sokhna Integrated Zone within the Suez Canal Economic Zone (SCZone). The inauguration ceremony, held at the Orascom Industrial Development site, was attended by SCZone Chairperson Waleid Gamal El-Din, Japanese Ambassador to Cairo Oka Hiroshi, and Saraya Chairperson Yusuke Saraya. New […]
Sanlam Kenya Plc, a subsidiary of South Africa’s Sanlam Ltd, has disclosed plans to wind down its property, bottled mineral water, and asset management subsidiaries in Kenya. This decision follows persistent financial losses and a prolonged period without dividends for shareholders. In 2023, Sanlam Kenya reported a net loss of Ksh127 million ($992,187), marking the […]
Alcazar Energy Partners has announced a landmark investment of $500 million in North Macedonia’s renewable energy sector, marking a significant step towards the country’s transition away from coal-fired power generation. The project, named Shtip and situated 75 kilometers south of Skopje, is set to become the largest wind farm in North Macedonia. Construction of the […]
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...
