State Owes ViVo Energy Sh21 Billion Fuel Subsidy
The parent company of the oil marketer flagged the delayed payments after the government’s debt to Vivo Energy Kenya under…
Category: Africa
Ghana Removes Fuel Subsidies and Establishes a Special Refinery Fund to Stabilize the Energy Sector.
According to the Ghana National Petroleum Authority (NPA), the nation has put in place regulatory measures, such as removing gasoline…
Kenya Plans to Work with Zambian Farmers on a Special Maize Importation Agreement.
In an effort to reduce the price of the staple, Nairobi will sign contracts with farmers in Zambia next month…
Kenya Nuclear Proposal will Require Billions for Grid Improvements.
When Kenya chooses to move forward with plans to build nuclear power facilities to help meet the nation’s expanding energy…
Centum Uses Cash Flow To Pay Down Sh2.3bn Debt.
Centum Investments Company Plc used internally produced cash to pay off Sh2.3 billion in debt after efforts to collect money…
Firm Denied From GDC Funds For Debt Of $2 billion
The Menengai Geothermal Project maintenance services provided by an ICT business resulted in a Sh2 billion debt that the High…
Diageo Succeeds In Increasing Its Ownership Of EABL To 65 Percent.
The first round of British multinational Diageo’s offer to purchase an additional 14.97 percent ownership in East African Breweries Plc…
UK Mining Company Engages PwC For Entrance Strategy In East Africa
London-listed PwC Limited Kenya has been appointed by Marula Mining to offer a variety of consulting services, including acquisitions in…
UGANDA: Loan Interest Payments Increase Due To Rising Domestic Debt.
The amount of interest paid on Uganda’s public debt increased over the six-month period due to a growth in the…
Government Financing By The Bank Of Ghana Is Not Fatal.
According to Ken Ofori-Atta, the minister of finance, the Bank of Ghana (BoG) lent the government GH37.96 billion in total…
KENYA: Bank Loan Interest Rates Have Risen To Their Highest Level In 52 Months.
In December, bank lending rates increased to their highest level in 52 months as a result of rate rises by…
Eskom’s CEO is Stepping Down with Immediate Effect in South Africa.
The state-owned electricity provider in South Africa, Eskom, said that its CEO, Andre de Ruyter, will resign from his position…
Mission Produce Announces a Joint Venture with ZZ2 Boerdert and Criterion Africa Partners.
A joint venture with ZZ2 Boerdery, one of South Africa’s leading farming firms, and Criterion Africa Partners, a private equity…
Kenya: Shaka Kariuki is Named the CAK Chairman by Ruto.
Shaka Kariuki, a businessman, has been named the new chair of the Competition Authority of Kenya (CAK) board by President…
A Majority Share in FSG is Purchased by Africa Lighthouse Capital.
As certain regional competition authorities applauded its proposed purchase of further shares in funeral services provider Funeral Service Group (FSG),…
Partech Closes the Largest Africa-focused Fund for the First Time at €245 million.
The largest Africa-focused fund to date, Partech Africa II has reached its first close at €245 million (about $263 million).…
Kenya Power will Switch 2,000 Vehicles to Electric in 4 Years.
Over the next four years, Kenya Power, the country’s main power supplier, plans to convert 2,000 of its gasoline- and…
Tanzania: A Crucial Dry Port is about to Start Operating.
The Coast Region’s Kwala Dry Port is finally scheduled to open this month, which is a significant development that will…
Finance Minister Tells Retirees Ghana Debt Swap Deal Is Beneficial.
In an effort to complete a domestic debt exchange, the beleaguered government of Ghana in West Africa told a group…
Vantage’s Fourth Mezz Fund Surpasses its Goal at Final Close.
Africa’s largest mezzanine fund manager, Vantage Capital, said the final close of its fourth mezzanine fund had been successful. The…
British International Investment Appoints Chijiutomi to Oversee Operations in Africa.
Chris Chijiutomi was appointed as MD, Head of Africa, according to a statement from British International Investment (BII). Chijiutomi, who…
MNT-Halan now has Unicorn Status after the most Recent Funding Round.
MNT-Halan, an Egyptian fintech startup, has raised $400 million in a capital round, including $140 million in securitized bond issuances…
Adenia’s Fund Retains a Strong First Close of $300 million.
Adenia Partners, a private markets investment company dedicated to ethical investing and a sustainable Africa, has announced the first closing…
GHANA Cancels Its $672 Million Back-taxes Claim With MTN Group.
The Ghanaian government has been requesting millions of dollars in back taxes from some of the biggest businesses in the…
KENYA: A Mauritius Private Equity Group Is Negotiating To Buy Java.
Mauritius-based private equity firm Adenia Partners is in discussions to fully acquire restaurant chain Java House in a transaction that…
Stanlib’s Infrastructure Fund Purchased Upington Solar Farm For Over R1 Billion.
Asset management Stanlib’s Infrastructure Fund II, which invests in infrastructure projects including renewable energy, transportation infrastructure, and logistics, is acquiring…
KENYA: In January, Investors’ Wealth At The Bourse Decreased By Sh24.4 Billion.
The Nairobi Securities Exchange (NSE) saw a loss of Sh24.45 billion in investor value in January, which is a result…
KENYA: As Mortgage Rates Increase, Home Values Drop By The Most In Four Years.
Due to an excess of housing and expensive bank loans, house prices fell by the largest margin in the three…
KENYA; Local Rice Millers Object About The Window For Duty-Free Imports Being Locked Out.
The importation of the good during the duty-free window has been blocked, and local rice millers have criticized the action,…
UGANDA: Due To Costly Imports, Egg Prices Will Increase.
Kenyan consumers are paying more for eggs as the price of the commodity shoots to a high of Sh450 a…