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Africa
Metier Capital Growth Fund III Raises Over $182 Million in First Close
Metier has successfully completed the first close of its Metier Capital Growth Fund III, securing just over $182…
Equity Bank Partners with Mastercard for Cross-Border Payment Solutions
Equity Bank has entered into a Customer Business Agreement with Mastercard to offer a range of payment solutions,…
East African Breweries (EABL) Sees Employee Count Drop Below 1,500
East African Breweries Plc (EABL) has reported a reduction in its headcount by 168 in the fiscal year ending June,…
Rubis Energy Converts €30 Million in Pending Fuel Subsidy Dues into Government…
Rubis Energy Kenya, an oil marketer, converted €30 million (Sh4.7 billion) worth of pending fuel subsidy dues into…
Return on Fixed Deposits Outpace Inflation in July for the First Time in 15 Months
In July, the return on fixed deposits in Kenya surpassed inflation rates for the first time in 15 months. Banks…
Kenyan Treasury Relies on Short-Term Bond Reopenings to Raise Ksh 222 Billion
The National Treasury in Kenya has utilized multiple reopenings of short-term bonds to secure Ksh 222 billion…
Gabon’s New Prime Minister Pledges Free Elections within Two Years
Raymond Ndong Sima, Gabon's recently appointed Prime Minister, has announced the military government's commitment…
Alex Okosi Appointed as Managing Director for Google in Africa
Google has named Alex Okosi as the Managing Director for its operations in Africa. Prior to this, Okosi held the…
Bank-Owned Brokers Outperform Standalone Counterparts in Profits
Bank-owned stockbrokers and investment banks, supported by alternative revenue streams, have outperformed…
KCB Group to Infuse $100 Million into KCB Bank Kenya for Recapitalization
KCB Group, a major financial institution, is planning to inject $100 million (approximately Sh14.5 billion) into…
G20 to Grant Permanent Membership to African Union
The G20, a grouping of major world economies, has reportedly agreed to grant permanent membership to the African…
African Development Bank Commits $25 Billion to Climate Finance by 2050
The President of the African Development Bank, Akinwunmi Adesina, has announced that the institution is committing…
UAE Announces $4.5 Billion Initiative to Boost Africa’s Clean Energy…
The COP28 President-Designate, Dr. Sultan Al Jaber, has unveiled a new initiative from the United Arab Emirates…
South African E-commerce Subscription Platform Rentoza Secures $6 Million…
Rentoza, a South African online subscription platform, has successfully secured $6 million in funding from two…
Ghana: Leveraging Microfinance for Inclusive Finance
The Executive Secretary of the Ghana Microfinance Institutions Network (GHAMFIN), Yaw Gyamfi, has urged Non-Bank…
Standard Chartered Bank Kenya Waives Upfront Fees for Online Money Market Fund
Standard Chartered Bank Kenya has announced the removal of the one percent upfront fee charge on its online money…
Kenya Strengthens Climate Change Legislation to Regulate Carbon Markets
Kenyan President William Ruto recently signed the Climate Change (Amendment) Bill 2023 into law, marking a…
Kenya’s KRA Loses $1.38 Billion Tax Case Against Bidco Oil Refineries
Kenya Revenue Authority (KRA) has faced defeat in a prolonged tax dispute with Bidco Oil Refineries, amounting to…
African Union Suspends Gabon’s Membership Following Coup
The African Union (AU) has suspended Gabon's membership after military officers ousted President Ali Bongo. This…
Kenyan Savings and Credit Cooperative Societies (Saccos) Report Increased Lending…
Data from the annual Sacco Societies Regulatory Authority (SASRA) report for 2022 indicates that land purchases…
Nairobi Securities Exchange (NSE) Reports 72.4% Jump in H1 Net Profit Amid…
The Nairobi Securities Exchange (NSE) recorded a substantial 72.4% increase in net profit, reaching Ksh 69.38…
Military Seizes Power in Gabon Following Election
A group of army officers in Gabon announced on national television that they had seized power in the Central…
Safaricom Disburses Dividend to Shareholders
Safaricom, a leading telecommunications company in Kenya, has commenced the distribution of a final dividend of…
Plural Launches AI-Powered Policy Tracking Platform in South Africa
Plural, an AI-powered policy tracking platform, has expanded its services into Africa, starting with South Africa…
AFEX and Ghana Commodities Exchange Join Forces to Boost Commodity Trading…
Nigeria's commodities exchange, AFEX, and Ghana Commodities Exchange (GCX) have embarked on a transformative…
Twiga Foods CEO Transfers Land from President’s Scheme to Private Company
Twiga Foods CEO, Peter Njonjo, transferred 20,000 acres of land allocated to him by the administration of…
Foreign Investment in Nigerian Stocks Hits Lowest Level Since Reform-Driven Rally;…
Foreign investment in Nigerian stocks has dropped to its lowest point since President Bola Tinubu's reforms…
Nairobi Stock Exchange Sees 50% Plunge in Investor Wealth in 2 Years”
Investor wealth in the Nairobi Securities Exchange (NSE) has been cut in half since reaching its record high…
Kenya Re to Exit Indian Market Amid Heavy Losses from Agricultural Sector
Kenya Re, one of Kenya's leading reinsurance companies, is planning to exit the Indian market due to increased…
Rwanda’s Bus Shortage Fuels Unregulated Alternatives, Raises Concerns of…
The ongoing shortage of public buses in Rwanda has led to a host of issues for commuters, prompting the emergence…