Umeme to Pay Record Dividend as Arbitration Battle Looms
Umeme Limited, Uganda’s former electricity distribution monopoly, has set markets alight with the declaration of a record Ushs 222 interim, equivalent to approximately KSh 7.96, for FY2025— the largest in [...]
Kenyan Used Car Marketplace Peach Cars Secures US$11 Million Series A Funding
Kenyan-based used car marketplace Peach Cars has raised US$11 million in a Series A funding round, as it accelerates efforts to digitize and formalize vehicle transactions across East Africa. “We’re [...]
Naspers, Africa’s Top Stock, Posts $12.3Bn Profit on Tencent Gains
Naspers, Africa’s largest publicly listed company by market capitalization, has posted Profit After Tax (PAT) of US$12.26 billion—surpassing revenue of US$7.18 billion-for the fiscal year ended 31 March 2025. These [...]Africa Finance Corporation Secures EUR 250mn Loan From Italian Development Bank
Continental infrastructure solutions provider Africa Finance Corporation (AFC) has secured a EUR 250 million 10-year term loan from Cassa Depositi e Prestiti (CDP), the Italian Financial Institution for Development Cooperation. [...]
Equity Bank Targets EA Cables Amidst TransCentury's Turnaround
TransCentury Plc, a listed infrastructure investment group has recently reported its first annual net profit since 2013, marking a turnaround amidst ongoing legal battles with Equity Bank over its subsidiary, [...]
Umeme Shares Sink 25% as Concession Dispute Clouds Investor Sentiment
Umeme Limited, formerly Uganda’s largest electricity distribution company and a cross-listed entity on both the Uganda Securities Exchange (USE) and the Nairobi Securities Exchange (NSE), has seen its stock drop [...]Seed Funding Was Supposed to Unlock Scale. It Built a Waiting Room Instead
Clogged pipes cannot carry any water, and the seed-to-series funding market is full of what few people are buying, despite the increase in local growth-stage funds. We have an interesting [...]
Ghana’s Credit Rating Rebounds with Gold Windfall and Fiscal Discipline
Ghana has received a significant boost in international investor confidence after Fitch Ratings upgraded the country’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B-’with a Stable Outlook from ‘Restricted Default’ [...]CBK Raises KSh 71.6B from Oversubscribed Sale of Reopened Bonds
The Central Bank of Kenya (CBK) has raised KSh 71.64 billion in a reopened Treasury bond auction dated June 23, 2025, exceeding its target of KSh 50 billion. In the [...]Mariott, Hilton, Double Down on Africa Investments
Global hotel chains Mariott International, Inc. and Hilton Hotels Resorts have announced aggressive expansion plans that will see the them add over 50 properties and over 100 properties respectively [...]COMESA Probes Mawingu Networks' Acquisition by SA Fund
The Comesa Competition Commission has opened an investigation into the proposed acquisition of a controlling stake in Mawingu Networks by a South Africa-based fund, Pembani Remgro Infrastructure Fund II (“PRIF II”). [...]Umeme's FY2024 Loss Marks Turbulent End to 20-Year Electricity Concession
Umeme Limited closed FY2024 with a Ushs 511 Billion net loss, reversing a Ushs 11 million profit from the previous year. The loss coincided with the end of its 20-year [...]
