IFC Invests Nearly KSh 81 Billion in Africa's Telecoms, Media Tech Sectors
The International Finance Corporation (IFC) has announced that it invested over $1 billion (KSh108 billion) in the telecoms, media and technology (TMT) industry in emerging markets in the last fiscal [...]
Diaspora Remittances Jump to $1.75 Billion in First Half of 2021
Hundreds of thousands of Kenyans working abroad sent home record amounts of remittances to their families from January to June this year. Diaspora remittances in the first half of 2021 [...]IFC Invests $1.2 Million in Tanzania's Corporate Bond
The International Finance Corporation (IFC), the private sector investment arm of the World Bank, on Thursday ploughed in $1.2 million (KSh129.8 million) in a five-year corporate bond issued by the [...]Linkham Group Completes Acquisition of Stake in Resolution Insurance Kenya
Linkham Group, a Mauritius headquartered global insurance services firm, has confirmed the completion of its acquisition of a majority stake in Resolution Insurance Kenya. The deal will see Linkham Group [...]
Africa's Challenges in Attracting Investment Capital
Africa has remained the least attractive to investors compared to other emerging markets despite its huge untapped potential. According to research by Rwanda Finance and Africa Legal, concerns around security, [...]M-KOPA Solar Expands into Nigeria
M-KOPA Solar, the world’s leading pay-as-you-go energy provider to off-grid homes, and which also offers underbanked customers finance to acquire smartphones, solar lighting, TVs and domestic appliances, has expanded into [...]
South Sudan Launches Digitel, 1st Local Telecom
South Sudan's first-ever locally-owned mobile telecom operator, Digitel Network, has launched operations in the country, aiming at fast-tracking connectivity of areas previously not served by foreign-owned telecom firms. The country's [...]Bank of Uganda Takes Over Regulation of Mobile Money Services
The Bank of Uganda(BOU) has completely taken over the regulation of Mobile Money Services from the Uganda Communications Commission amidst anxiety and fears from customers. In June this year, the [...]UK Other G7 Partners to Invest Over $80 Billion in Africa
The UK, other G7 countries, and multilateral partners including the International Finance Corporation, the African Development Bank, and the European Investment Bank have announced plans to collectively invest $80 billion [...]Nigeria to Block MultiChoice Africa Over $4.4 Billion Tax Evasion Claims
MultiChoice is facing shut-down in Nigeria after the country's tax authority, Federal Inland Revenue Service (FIRS), asked lenders to freeze the company's local bank accounts over $4.4 billion tax evasion claims. The [...]Shelter Afrique Receives an Additional KSh1 Billion Investment from Kenya
Shelter Afrique has received an additional KSh1 billion investment from Kenya, representing an additional 3.9% stake. This new investment now moves Kenya’s shareholding up from 14.82% to 18.72%. Kenya’s shareholding [...]Nairobi is Top Fintech City in Africa: 2021 Global Fintech Rankings
Nairobi is the city with the largest fintech ecosystem in Africa, according to 2021 Global Fintech Rankings. Kenya's commercial nerve centre jumped 26 places upwards to rank 37th on the [...]
