IMF Approves Nearly $1 Billion in Funding for Kenya to Bolster Economic Reforms
Paraphrased Paragraphs: The International Monetary Fund’s executive board has granted Kenya nearly $1 billion in funding to alleviate financial pressures…
Category: Africa
AFIG Funds and Norfund Successfully Complete Acquisition of Ivorian Packaging Company NME
A consortium of investors led by AFIG Funds and Norfund has successfully completed the acquisition of Nouvelle Mici Embaci (NME),…
Endeavour Mining Divests 90% Stake in Burkina Faso Mines to Lilium Mining for $300 Million
In a strategic move, UK-based Endeavour Mining has sold 90% stakes in its Boungou and Wahgnion mines in Burkina Faso…
Rising Government Borrowing Pushes up Loan Costs for Kenyan Households and Businesses
The Kenyan government’s increasing reliance on more expensive domestic loans has resulted in higher interest rates for households and businesses.…
Improved Liquidity in Kenyan Market Lowers Interbank Rates
The interbank rate in Kenya has dropped from double-digit levels to 8.62 percent, following improved liquidity in the market. This…
Ghanaian Government Plans to Dispose of 17 Defunct State-Owned Enterprises
The Ministry of Public Enterprises in Ghana has announced plans to dispose of 17 defunct state-owned enterprises, including the State…
Kenya to Float Second Tranche of Bond to Clear Fuel Subsidy Pending Bill
The Treasury is set to float the second tranche of a bond worth Ksh 28 billion this week to clear…
Decline in Value of Safaricom’s Bonga Points Indicates Increased Redemption by Customers
The value of unused Safaricom customer loyalty awards, known as Bonga points, has reached its lowest point in 12 years.…
Bank of Ghana to Sell $120 Million to Bulk Oil Distribution Companies (BDCs) in Q3 2023
The Bank of Ghana has announced plans to sell $120 million to Bulk Oil Distribution Companies (BDCs) in the third…
Kenya Sees Increase in Foreign Direct Investment, but Lags Behind Regional Peers
Kenya experienced a turnaround in foreign direct investment (FDI) in 2022, with FDI inflows rising by 63.93% to $759 million.…
Nigeria’s Dominance in Africa’s Gas Market: A Promising Future
Nigeria’s gas reserves have positioned the country as a dominant player in Africa’s gas market, accounting for 33 percent of…
New Sh70 billion syndicated loan eases Kenya’s currency problems.
Kenya has secured a syndicated loan of Sh70.4 billion ($500 million) from a consortium of international lenders, including Citi Group,…
Naivas founders aim for Sh5.8 billion as foreigners take over
The family of Peter Mukuha Kago, the founder of Naivas, plans to sell an additional 11% stake in the company…
Why DSE Trade Dropped Significantly in the First Half of 2023.
The first half of 2023 saw a decline in trading and liquidity at the Dar es Salaam Stock Exchange (DSE)…
Despite the impact of DDEP, Société Générale Ghana reports GHS 109M in profit in 2022.
Société Générale Ghana Plc has reported a profit after tax of GHS 109 million for the year 2022, representing a…
State Intends to Issue a Water Bond Following a Failed Initial Attempt.
Nearly half of the water supplied in Kenya is unmetered, resulting in a significant loss of revenue for water companies…
Safaricom Considers Venture Companies in its Acquisitions Push.
Safaricom, the leading telecommunications company in Kenya, plans to establish two venture capital firms in order to invest in promising…
Nestle increases its sourcing of Nigerian raw materials as the cash crunch hits
Nestle, a major food company, is increasing its sourcing of local raw materials such as starch and turmeric in Nigeria…
BoG Anticipates that Inflation would Stay Over 10% Until 2025.
Barring any unexpected shocks, the Bank of Ghana (BoG) expects inflation to be on the decline through the end of…
PPI Falls to 30.3% in May 2023, According to GSS.
According to recent information from the Ghana Statistical Service (GSS), the Producer Price Inflation (PPI) for the month of May…
The Budget Controller Reports Sh5.7 billion in Salaries Paid Outside of Payroll.
In the first nine months up to March, the Controller of Budget (COB) reported Sh5.66 billion in salary payments made…
TransCentury Shares Decline 10% Amid Conflict.
The Nairobi Securities Exchange (NSE) saw a 10% decline in TransCentury Plc’s stock in its first transaction following the disclosure…
Trella’s Logistics Startup is Supported by Avanz Capital Egypt with $3.5 million.
To aid in the expansion of the Egyptian logistics sector, private equity firm Avanz Capital Egypt has invested $3.5 million…
PE Fund with a Focus on Zambia Closes its First Close at $40 million.
In a historic financing for a Zambian private equity firm, Monter Capital Partners in Port Louis successfully closed the first…
French Company Schneider Transfers Kenya Operations.
French energy company Schneider Electric Kenya will discontinue its manufacturing activities there, indicating challenges with local value-addition. Schneider Electric Kenya…
Report: Upcoming Months are Projected to See an Increase in Ghana’s Inflation.
Over the following two months, it is expected that Ghana’s inflation rate will increase. This is mostly caused by the…
Ofori-Atta: The Government will get $6.2 billion from Multilateral Partners.
The government anticipates receiving around $6.2 billion from its multilateral partners between 2023 and 2026, according to Ken Ofori-Atta, minister…
Request for a Sh2.8 billion debt write-off led Equity to sue TransCentury.
TransCentury Plc was placed under administration after Equity Bank Kenya turned down a request to cancel more than Sh2.8 billion…
Nigeria, Morocco, and others Agree on a $30 billion Pipeline.
Four Memorandums of Understanding for the $30 billion Nigeria-Morocco Gas Pipeline Project were signed on Friday at the ECWAS headquarters…
MPs open the public hearing on the conflict and privatization measures
Two measures that are part of the terms of the Sh139 billion soft loan the National Assembly obtained from the…