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AfricaMoney | October 16, 2017

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African Renewable Energy Fund launches with $100 mn capital

March 18, 2014 | The fund will target independent power producers with an ideal size of between 5MW-50MW and a commitment per project of between USD 10 million–USD 30 million. (Image: AREF) A towering USD100M of funding focused on Sub-Saharan Africa has been committed to support small to mediu...
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Mauritius ranked first in African Index on Economic Transformation

March 5, 2014 | However, the island, which is trying to position itself as an Information and Communications Technology (ICT) hub, could only manage the 14th rank in technology. (Image: ACET) The island economy was ranked first in the African Index on Economic Transformation and Depth compared...
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Africa Brand Summit in March to brainstorm sustainable development branding

January 30, 2014 | An estimated 150-200 delegates drawn from Kenya, Uganda, Tanzania, Ethiopia and Southern Sudan are expected to attend the two-day summit starting March 13, 2014. (Image: Africa Brand Summit) Africa Brand Summit (ABS) will hold a two days meeting starting March 13 in Nairobi, Keny...
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Stocks in Sub-Saharan Africa to face slower growth in 2014

January 10, 2014 | Amid this slowing market, analysts peg Mauritius’ banking major Mauritius Commercial Bank, Rwanda’s Bank of Kigali and Botswana microfinance company Letshego as the stocks most likely to make a mark in 2014. African stocks appear to be losing steam, after a tough 2013 on the ...
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Africa suffers as inequality breeds amid high economic growth

January 8, 2014 | The number of hungry Africans grew from 175 million to 239 million between 2010 and 2012, with approximately 20 million added in the last few years. (Image: The Guardian) Poverty remains an unsolved issue for Africa as hundreds of millions of Africans are still left without foo...
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Nigeria set to overtake South Africa on cloud computing in 2014

December 24, 2013 | In a twist to the tale, the study concludes that, despite its current dominance, South Africa will be replaced by Nigeria with a wide margin as the leader in Cloud in 2014. (Image: Experts Integrated Systems) Nigeria will take a lead over South Africa on cloud computing by the e...
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African banking sector offers unparalleled growth potential

December 17, 2013 | In mobile banking, African finance can really claim to be ahead of the game, as major players like Kenya's Safaricom, with its M-Pesa offering, rule the market. (Image: Afritorial) Faced with stuttering faith in the traditional emerging markets of Asia and Latin America and dis...
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Mauritius in top five global economies on Internet Affordability Index

December 11, 2013 | The top five emerging countries highlighted in the report are as follows: Malaysia, Mauritius, Brazil, Peru, and Colombia. (Image: BGR) ICT hub Mauritius has once again shown its dominance in the technology landscape of Africa, and indeed, globally, featuring among the top five e...
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London investment major acquires 25% of Nairobi IT firm

October 2, 2013 |

ISON founder and chairman Ramesh Awtaney at the Hilton Hotel in Nairobi on September 12, 2013. (Source:

Satya Capital, a London-based investment firm launched by billionaire entrepreneur Mo...
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Kenya, SA shining: building bridges, nurturing innovation

October 1, 2013 |

Kenya’s ambassador to South Africa, Patrick Wamoto, recently wooed investors, leading a business delegation to the East African commerce hub, to illustrate its importance as a gateway to commerce in the region.

Wamoto said the co...
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Chinese bank invests in African infrastructure development

August 23, 2013 |

China Development Bank (CDB) has invested at least US$2.4bn in African infrastructure and commercial projects. The projects will be estimated to bring at least a further US$10bn of Chinese investments into Africa.

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SA property firm targets growing retailer interest in Kenya

August 19, 2013 |

 South African property management firm Broll has entered the Kenyan market in an effort to benefit from the growing number of foreign retailers seeking space to conduct business in the East African country

Fellow South African fi...
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Chinese firm to build tallest trade tower in Kenya

July 19, 2013 |

Jiangxi International will be constructing the tallest trade building in Kenya, reports African Review. The building will be known as the National Social Security Fund’s (NSSF) Trade Centre.  Kenyan Cementers had also bid for the project, but the Chinese firm won t...
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Equity Bank and Google launch e-payments in Kenya

May 2, 2013 |

The new BebaPay smart card is set to make life a lot easier for Kenyan commuters thanks to innovation from a leading bank group and Google. Equity Bank and Google are behind Kenya’s newest cashless innovation, BebaPay, which is aimed at making payments easier for c...
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AfDB facilitates energy diversification in Kenya

April 29, 2013 |

The Board of Directors of the African Development Bank (AfDB) approved €115 million in financing for a wind power project in Kenya’s Lake Turkana region. The project will add 300MW to power generation capacity and will benefit Kenya by providing clean and affordab...
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Kenya Airways receives first fully owned freighter jet

April 21, 2013 |

Kenya Airways received its first fully owned cargo aircraft to tap into the growing cargo freighting business in Africa.

 The new freighter jet, Boeing B737-300, has a cargo capacity of 20 metric tons. It is the first of four pass...
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AfDB supports Tanzania-Kenya road financing

April 18, 2013 |

The African Development Bank has approved two loans totalling USD 232.5 million for the 157.5-kilometre road project from Arusha to Holili in Tanzania, and Taveta to Voi in Kenya, in an effort to reduce the cost of transport and enhance access to agricultural inputs, ...
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IMF approves $108.5 million disbursement for Kenya

April 17, 2013 |

The Executive Board of the International Monetary Fund (IMF) has completed the fifth review under a three-year arrangement under the Extended Credit Facility (ECF) for Kenya. The completion of the review enables the disbursement of an amount equivalent to SDR 71.921 m...
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L’Oreal buys kenya’s Nice & Lovely

April 16, 2013 | 3

World’s largest multinational cosmetics company L’Oreal has acquired Kenya’s Interconsumer Products Ltd, makers of Nice & Lovely brands, in a multi-billion dollar transaction recently. London-listed L’Oreal bought the Kenyan firm with an eye on East Afric...
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Kenya: Government invests Shs.560 million in off grid power projects

March 4, 2013 |

February 4, 2013 - Kenya Power is developing renewable power projects in North Eastern and Rift Valley at a total cost of Shs.560 million to complement diesel generation in areas not connected to the national grid (off grid).  Kenya Power is developing renewable powe...
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Cell phones revolutionizing Kenya’s livestock sector

March 2, 2013 |

Farmers and veterinarians across Africa are increasingly using cell phones to issue alerts quickly about possible animal disease outbreaks at a very early stage and to track wide-scale vaccination campaigns. Mobile phone applications are making ‘early warning’ a matter of seconds...
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Kenya Airways reveals stable operating results for Q3

January 29, 2013 |

January 29, 2013 - Kenya Airways has revealed its operating results for the third quarter of 2012, showing growth in a number of regions although significant impacts of Euro...
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Kenya Launches $1.6m IT Incubation Centre

January 25, 2013 |

January 25, 2013- The Kenyan government has partnered with Kenyan business incubator, Nailab, to launch a $1.6 million (Sh140 million) technology incubation centre, i...
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Morgan Stanley, IFC invests $7.5 million to boost food security

January 23, 2013 |

January 23, 2013 - Eleni LLC, a newly formed company led by CEO Dr. Eleni Gabre-Madhin, announced today that ...
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Kenya: Diaspora remittances pick up

January 8, 2013 | January 8, 2013 - Remittances to Kenya amounted to US$ 97.5 million in November 2012, or 6.4 percent higher than US$ 91.6 million recorded in October 2012. The average remittances inflow in the year to November 2012 amounted to US$ 95.9 million, or 32.1 percent above US$ 72.6 million recorded in th...
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Kenya Third-Quarter GDP rises amid lower interest rates

December 26, 2012 | 26th December 2012- Kenya’s economy expanded by 4.7 per cent in the third quarter of 2012 compared 4.0 percent growth recorded in the same quarter of 2011. The expansion was more robust in comparison to the preceding quarters of 2012 primarily due to strong performances of the Agricultu...
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Green and Inclusive project USD 125 million for the Horn of Africa

December 26, 2012 | 26th December, 2012 -The Board of Directors of the African Development Group, approved a project in the amount of USD  125 million for the first phase of the drought resilience project and provision of long-lasting  means of subsistence to populations in the Horn of Africa.  Three coun...
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IFC Announces Partnership to Increase Access to Affordable Sanitation in East Africa

December 19, 2012 | December 19, 2012:IFC, a member of the World Bank Group, announced support from the Bill & Melinda Gates Foundation to catalyze the market for improved sanitation and accelerate access to more affordable sanitation solutions for low-income households in East Africa. The Selling ...
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AfDB invests in Kenya’s young innovators

December 18, 2012 | December, 18 2012: Last month’s conclusion of the Appstar Challenge demonstrated that Kenyan youth are the driving force of the country’s revolution in innovation and entrepreneurship. ...
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