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 African…
Category: Africa
Safaricom Disburses Dividend to Shareholders
Safaricom, a leading telecommunications company in Kenya, has commenced the distribution of a final dividend of KSh 24.84 billion to…
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 and Nigeria. The platform…
AFEX and Ghana Commodities Exchange Join Forces to Boost Commodity Trading Ecosystem in Nigeria and Ghana
Nigeria’s commodities exchange, AFEX, and Ghana Commodities Exchange (GCX) have embarked on a transformative partnership by signing a Memorandum of…
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 President William Ruto…
Foreign Investment in Nigerian Stocks Hits Lowest Level Since Reform-Driven Rally; Currency Concerns Loom Large
Foreign investment in Nigerian stocks has dropped to its lowest point since President Bola Tinubu’s reforms initiated a significant market…
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 valuation of…
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 losses primarily…
Rwanda’s Bus Shortage Fuels Unregulated Alternatives, Raises Concerns of Fraudulent Ticketing Practices
The ongoing shortage of public buses in Rwanda has led to a host of issues for commuters, prompting the emergence…
Surprising Surge: Kenyan One-Year Treasury Bill Interest Rates Spike to 14% Despite Government’s Borrowing Cut Plans
In an unexpected twist, the interest rate on the one-year Treasury bill in Kenya soared to a remarkable 14% during…
Credit Bank PLC Set to Make a Splash on Nairobi Securities Exchange, Aiming to Raise Sh1 Billion in Major Listing Move!
In a bold move marking a significant shift on the financial horizon, Credit Bank PLC has announced its upcoming listing…
Kenyan Fintech Zanifu Bags $11.2M in Pre-Series A Round to Supercharge MSMEs with Inventory Credit Revolution
In a groundbreaking stride, Kenyan fintech powerhouse Zanifu has clinched a monumental $11.2 million in a pre-series A round, setting…
Cape Town’s VC Powerhouse HAVAÍC Deepens Investment in RapidDeploy’s Game-Changing Public Safety Tech
Venture capital juggernaut HAVAÍC, headquartered in Cape Town, is making waves again. Fresh off their participation in a bridge round…
Revolutionary Fundraising Blitz: RH Managers Spearheads R2-billion South African Impact Fund!”
Johannesburg-based private equity and infrastructure powerhouse, RH Managers (RHM), is igniting a fervent fundraising campaign, aiming to secure a staggering…
AIIM and N+ONE Partner to Drive Pan-African Data Center and Cloud Services Platform
African Infrastructure Investment Managers (AIIM) and N+ONE DATACENTERS are collaborating to establish a groundbreaking Pan-African data center and cloud services…
KRA’s Dynamic Move: Real-Time Surveillance on Mobile Money Transactions for Enhanced Tax Compliance
The Kenya Revenue Authority (KRA) has embarked on a groundbreaking initiative to closely monitor transactions within mobile merchant accounts, including…
Shilling’s Slide Spurs Currency Gains: Tier One Banks Record Substantial Earnings Boost in H1 2023
Tier one banks in Kenya have experienced a noteworthy surge in currency gains, amassing a total of Ksh 14.5 billion…
Pyrethrum Power Surge: Kentegra Biotechnology Secures $15 Million Financing for Blossoming Growth
Nairobi-based pyrethrum pioneer, Kentegra Biotechnology, is set to receive a significant boost with a financial injection of Ksh 2.1 billion…
NBK Reports Ksh 3.84 Billion Loss, Hit by Compensation Payout; KCB Evaluates Capital Injection
National Bank of Kenya (NBK), a subsidiary of KCB Group, has announced a net loss of Ksh 3.84 billion for…
Kenya Power Seeks Government’s Help to Convert Dollar Debt Amid Depreciating Shilling
Kenya Power, the country’s power distribution company, is actively seeking the assistance of the government to convert a portion of…
Central Bank of Kenya Gains Enhanced Powers to Vet Beneficial Owners and Regulate Large Cash Transactions
The Central Bank of Kenya (CBK) has been granted expanded authority to scrutinize not only directors and senior managers but…
Access Bank Ghana Reports Strong Half-Year Financial Performance with 65.4% Growth in Profit Before Tax
Access Bank Ghana has announced robust financial results for the first half of 2023, reporting a significant growth of 65.4%…
UBA Partners with UNDP to Empower Youth and Women-led MSMEs in Ghana and Promote Climate Financing
United Bank for Africa (UBA) Plc has entered into a Memorandum of Understanding (MoU) with the United Nations Development Programme…
Rwandan Local Governments Crack Down on Illegal Mines
Efforts to curb the prevalence of illegal mining operations in Rwanda are intensifying as local government leaders respond to a…
KCB Group Records 20% Net Profit Decline in H1 2023, MarketNewsNG Reports
KCB Group, one of East Africa’s leading financial institutions, has reported a 20% drop in net profit for the first…
Safaricom Surpasses 5 Million Subscribers in Ethiopian Venture
Safaricom, the telecommunications giant, has achieved a milestone by surpassing five million subscribers in its Ethiopian subsidiary within less than…
Marble Capital Introduces Marble Halal Fixed Income Fund for Risk-Averse Investors
Marble Capital Limited, a prominent ethical and Islamic Fund Manager in the Nigerian financial market, has launched the Marble Halal…
African State-Owned Oil Companies Report $27.95 Billion Earnings in 2023 Amid Fluctuating Crude Prices
An analysis of financial reports from three major state-owned oil and gas companies in Africa has revealed combined earnings of…
African Union Suspends Niger Republic Following Coup; Diplomacy Urged to Solve Political Crisis”
The African Union (AU) Commission has imposed sanctions by suspending Niger Republic from the organization due to the recent military…
Kenyan Banks Oppose Government Plan to Raise Threshold for Reporting Large Cash Transactions
Kenyan commercial banks have expressed opposition to a government plan to increase the threshold for reporting large cash transactions by…