- Kenya’s economy falls to a four-year low on mining and construction
- NSE top African stocks markets in race for dollar investors
- AXA Climate launches new Altitude platform to help businesses and industry adapt to climate change
- DRC overtakes Kenya and Uganda as Tanzania’s leading export destination
- Ethiopia’s khat exports to Somalia fall on diplomatic tensions
- Ghana’s Central Bank slashes rate in eight months as inflation eases
- IMF, Kenya tensions loom as state enterprises’ sales blocked
- Congo Terminal will invest more than 400 million euros in a new port terminal at the Port Autonome de Pointe-Noire
Author: Muthoga Mungania
Muthoga Mungania is an award-winning, Nairobi-based multimedia journalist covering economic, corporate, financial, tech and investor relations matters among other business stories. Muthoga is seasoned in data and market analysis, corporate finance, and economic trends, making them a trusted voice in East African business journalism, communications and consultancy.
Kenya’s gross domestic product (GDP) fell to 4.6 per cent in the three months leading up to June from 5.6 per cent a year earlier, marking the country’s worst growth in four years after the pandemic. Official data from the Kenya National Bureau of Statistics (KNBS), shows that despite the slower growth rates in other...
Purchase Required
You must first purchase a membership level before purchasing this content.
The Nairobi Securities Exchange (NSE) has topped its African peers in returns for foreign investors in the nine months to September 2024, on the back of a stronger shilling boosting dollar-linked portfolios. Data from the Morgan Stanley Capital International (MSCI) index, which monitors the performance of ten African stock markets, indicates that the NSE’s return...
Purchase Required
You must first purchase a membership level before purchasing this content.
The Democratic Republic of Congo (DRC) has overtaken Kenya and Uganda as Tanzania’s leading export market, signalling the changing trade dynamics in the East African bloc amid tariff wars.Official data from the Bank of Tanzania shows that DRC overtook Kenya and Uganda to become Tanzania’s leading export destination for its various goods. The data from...
Purchase Required
You must first purchase a membership level before purchasing this content.
Ethiopia’s khat export to Somalia has fallen amid diplomatic tensions and high taxation.Somalia has long been the largest export destination for Ethiopian khat, which has an estimated daily demand of 500,000 kilograms of the stimulant leaf. The country used to buy up close to 80 per cent of Ethiopia’s total khat exports. A quota system...
Purchase Required
You must first purchase a membership level before purchasing this content.
Ghana’s central bank slashed its base lending rate by 200 basis points to 27 per cent on Friday, the first cut since January, as inflation continues to ease. The Bank of Ghana’s Monetary Policy Committee (MPC) met during the week and deliberated while assessing local and international macroeconomic developments, and the balance of risks to...
Purchase Required
You must first purchase a membership level before purchasing this content.
Two days ago, a Kenyan High Court declared the Privatisation Act unconstitutional, a move that could sour the country’s relations with the International Monetary Fund (IMF), which had just concluded a week-long visit in Nairobi. The Privatisation Act proposed the sale of state-owned parastatals including the iconic Kenyatta International Conference Centre (KICC), the Kenya Pipeline...
Purchase Required
You must first purchase a membership level before purchasing this content.
Nigeria’s Central Bank has raised its benchmark lending rate by 50 basis points to 27.5 per cent attributed to the continuing inflationary conditions in the country and the stability of the foreign exchange market. In a statement on Tuesday (24.09), the Central Bank of Nigeria (CBN) noted the slight ease in inflation between July and...
Purchase Required
You must first purchase a membership level before purchasing this content.
Kenya’s external borrowing next year is projected to fall to $1.29 billion from $2.76 billion in the current financial year on the back of a significant rise in primary debt repayments that will require new borrowing to be rolled over. Projections published by the National Treasury in the Budget Review and Outlook Paper (BROP) 2024...
Purchase Required
You must first purchase a membership level before purchasing this content.
Ecobank Kenya lost millions of dollars between 2020 and 2022 following the failure of its card operations team to upload critical transaction files exposing the lender to fraud.Revelations from an internal report by the bank, a task force appointed in 2023 highlighted the weaknesses that saw the lender lose millions to merchants and employees. The...
Purchase Required
You must first purchase a membership level before purchasing this content.
The European Union (EU) has announced fresh funding of $44.6 billion geared towards the construction of a pharmaceutical manufacturing hub and the promotion of local manufacturing of affordable health products in Rwanda. The funding is in the form of grants to boost the nascent pharmaceutical industry in the East African nation by expanding fair access...
Purchase Required
You must first purchase a membership level before purchasing this content.
Uganda’s stock of domestic debt grew to $10.92 billion in June from $9.28 billion recorded in a similar period last year, data from the Ministry of Finance shows. Analysis of the data from the annual debt statistical bulletin and public debt portfolio shows that the 17.7 per cent growth was attributed to a shift in...
Purchase Required
You must first purchase a membership level before purchasing this content.
Kenya is yet to receive new funding from the International Monetary Fund, after a team from the lender concluded a six-day fact-finding mission to the East African nation held between September 11th to 16th. The delay is attributed to the withdrawal of the Finance Bill 2024 by the President, after deadly youth protests. In a...
Purchase Required
You must first purchase a membership level before purchasing this content.
Kenya’s Treasury has cut its tax target for the next financial year by $2.59 billion amid public outrage that saw the withdrawal of the finance bill 2024. In the newly published Budget Review and Outlook Paper (BROP) by the National Treasury, spending was slashed in revised changes in a bid to quell anger from Kenyans....
Purchase Required
You must first purchase a membership level before purchasing this content.
Safaricom Plc has revealed it added 350,000 customers in the quarter to June 2024, according to new disclosures by the Kenyan telecoms operator. The company said its one-month active customers grew to 3.41 million in the three months under review from 3.06 at the end of March. Kenya’s largest telco said its Ethiopia’s number of...
Purchase Required
You must first purchase a membership level before purchasing this content.
Ten state-owned companies have been identified for listing on the Ethiopian Securities Exchange (ESX) later in the year or early 2025. Top officials at the Ethiopian Investment Holdings (EIH), the East African country’s sovereign wealth fund, have determined Ethio Telecom, the Ethiopian Insurance Corporation, and the Ethiopian Shipping and Logistics Services Enterprise (ESLSE) among firms...
Purchase Required
You must first purchase a membership level before purchasing this content.
Kenyan aviation workers ended their strike after day-long protests on Wednesday that disrupted travel at various airports in the country after union officials were assured the deal to lease the airport would not proceed without their approval. The Kenya Aviation Workers Union (KAWU) Secretary General Moses Ndiema announced that operations at Jomo Kenyatta International Airport...
Purchase Required
You must first purchase a membership level before purchasing this content.
Thousands of travellers have been stranded since Wednesday midnight at the Jomo Kenyatta International Airport (JKIA) after staff at the country’s transport hub downed their tools in protest of the Adani deal. Workers at other airports in the country including the Eldoret, Kisumu and Mombasa airports have joined the strike leaving passengers stranded. Police officers...
Purchase Required
You must first purchase a membership level before purchasing this content.
Kenya’s high court has temporarily stopped a proposed deal for Adani Group- one of India’s largest conglomerates- to lease the country’s largest airport for 30 years. Court documents seen by Kapital Afrik show the Judiciary granted the Law Society of Kenya (LSK) and the Kenya Human Rights Commission (KHRC)’s joint application for leave to file...
Purchase Required
You must first purchase a membership level before purchasing this content.
African leaders are signing deals with the Chinese government to benefit their countries at the ongoing China-Africa Conference summit happening in Beijing. Kenya’s President William Ruto announced that the country had joined the Asian Infrastructure Investment Bank (AIIB) as a fully paid member, a membership that will see the nation access concessional funding for infrastructure,...
Purchase Required
You must first purchase a membership level before purchasing this content.
Nigeria’s business mogul Aliko Dangote has reclaimed his title as Africa’s richest man after losing it to South African billionaire Johann Rupert in August. According to the Bloomberg Billionaire Index, the title of Africa’s richest man has changed hands thrice and as of September 9th, has rested on Mr Dangote. The two billionaires have been...
Purchase Required
You must first purchase a membership level before purchasing this content.
East African Breweries Limited (EABL) is looking to raise its stake in one of its Ugandan subsidiaries that will see the brewer own 100 per cent of the company. The Nairobi Securities Exchange (NSE)-listed alcohol manufacturer will spend Sh426 million ($3.3 million) to raise its stake in Uganda Breweries Limited from 98.19 percent or 118,293,313...
Purchase Required
You must first purchase a membership level before purchasing this content.
Chinese President Xi Jinping has pledged $50.6 billion in financial assistance to Africa over three years. Speaking during the China-Africa cooperation summit on Thursday, President Xi said that $210 billion would be distributed through credit lines and at least 70 billion in fresh investment by Chinese companies. The rest of the financing would be paid...
Purchase Required
You must first purchase a membership level before purchasing this content.
Kenya’s President William Ruto has met with his Chinese counterpart Xi Jinping ahead of the African summit in a bid to unlock a five-year freeze on loans from the latter. The two heads of state met on Monday ahead of the China-Africa cooperation summit which will take place in Beijing from September 4th to 6th,...
Purchase Required
You must first purchase a membership level before purchasing this content.
Kenya’s inflation rose slightly to 4.4 per cent in August from 4.3 per cent in the month before, attributed to an increase in the price of various commodities including food and fuel. Official data from the Kenya National Bureau of Statistics (KNBS) shows the month-on-month change in prices of oranges, mangoes, electricity and transport resulted...
Purchase Required
You must first purchase a membership level before purchasing this content.
The vaccines are set to arrive in the next few days according to WHO’s director general Mr Tedros Adhanom Ghebreyesus. “We hope to have the first delivery in the next few days, and then it will build up,” reckoned the Director General Tedros Adhanom Ghebreyesus. Mr Tim Nguyen, the Head of Unit for Health Emergency...
Purchase Required
You must first purchase a membership level before purchasing this content.
South Sudan has signed a deal with Chinese firm Shengli Oilfield Keer Engineering and Construction Company (SOKEC) to construct an oil refinery and storage facilities.The agreement was signed between South Sudan’s state-owned Nile Petroleum Corporation (Nilepet). “With this MoU, we hope you will be able to translate it into agreements and projects that we will...
Purchase Required
You must first purchase a membership level before purchasing this content.
Kenya’s cement manufacturer Savannah Clinker Limited has made a counter-offer against Tanzania’s Amsons Group to acquire Bamburi Cement Plc. The company is offering to buy Bamburi’s shares at $0.54 per piece against Amson’s $0.50, starting a bidding war for the cement manufacturer. Savannah Clinker Limited has sweetened the deal by adding that it does not...
Purchase Required
You must first purchase a membership level before purchasing this content.
Global credit ratings agency S&P has downgraded Kenya to B minus from B, marking the third such demotion since June, after similar actions by Fitch and Moody’s. This decline in rank comes on the back of the withdrawal of the controversial Finance Bill 2024 after nationwide protests. S&P also said the reason for the disparagement...
Purchase Required
You must first purchase a membership level before purchasing this content.
The Development Bank of Rwanda has received the green light from the Rwanda Capital Market Authority to issue a second sustainability-linked bond worth $22.6 million (Rwf30 billion) in its latest fundraising. This second bond is after a successful first issuance where BRD sought $2.6 million last year.BRD launched its inaugural SLB on the Rwanda Stock...
Purchase Required
You must first purchase a membership level before purchasing this content.
Kenya’s competition watchdog has without condition approved the acquisition of Suntory Beverage and Food Kenya Limited’s entire ownership by Bidcoro Africa Limited. Suntory is behind the popular Lucozade drink and blackcurrant concentrate Ribena, while Bidcoro owns the Suntop fruit juice brand. This acquisition will see Bidcoro take over Suntory Kenya’s entire issued share capital according...
Purchase Required
You must first purchase a membership level before purchasing this content.
About us
Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, give meaning to statistics….
Contact us: redaction@financialafrik.com
Subscribe to Updates
Get the latest creative news from FooBar about art, design and business.