(NAIROBI, KENYA) – The National Social Security Fund (NSSF) has revived plans to develop its 1,000 acre land in Mavoko, Machakos County into a mixed use city, nearly 15 years after first proposing to put up housing on the property. The state controlled pension fund in June called for proposalsContinue Reading
(NAIROBI, KENYA) – The National Social Security Fund is planning to increase its investments in offshore listed shares and private equities as it looks to diversify its portfolio away from domestic government securities and property markets. The State backed pension fund is seeking to appoint an investment manager to establishContinue Reading
(NAIROBI, KENYA) – Kenya Airways expects to bring in a strategic investor by December 2026 as part of a plan to rebuild its finances after years of losses and state support. The National Treasury told the Public Accounts Committee of Parliament that the airline and the government, which is theContinue Reading
(Nairobi, Kenya) – Kenya’s National Assembly has ordered an investigation into QVSE, an online platform offering investment opportunities to Kenyans by combining cryptocurrency payments with trading in United States stocks. Speaker Moses Wetang’ula directed the Finance and National Planning Committee to probe the activities of the platform, which operates underContinue Reading
(NAIROBI, KENYA) – Kenyan taxpayers lost at least KES 14.3 billion after the National Treasury and the National Assembly ignored technical advice from a State think tank and pushed through the sale of Safaricom shares at a lower price. The loss is equal to about $88.4 million or £69.5 million.Continue Reading
(NAIROBI, KENYA) – Vodacom has completed its acquisition of an additional 15 percent stake in Safaricom. The move comes days after the Court of Appeal lifted orders that had blocked the State’s KES 204.3 billion sale. The stake value is equal to about $1.26 billion or £992 million. The SouthContinue Reading
(NAIROBI, KENYA) – South Africa’s Vodacom has added two directors to Safaricom’s board in a shake-up that reflects its increased ownership of the Kenyan company. The move follows Vodacom’s acquisition of a 15 percent stake from the Kenyan government. Vodacom appointed Mariam Cassim, its chief executive for financial technology, andContinue Reading
(SYDNEY, AUSTRALIA) – Australian shares closed out their worst week since April. Financial stocks dipped and miners fell. The energy sector slipped on Friday but still gained 2.8 percent for the week on the back of strong oil prices. Hopes for a deal to reopen the Strait of Hormuz faded.Continue Reading
(DAR ES SALAAM, TANZANIA) – Nigerian billionaire Aliko Dangote chose Kenya over Tanzania for a planned refinery in Lamu, a decision that has not pleased Tanzanian officials. The choice comes as Kenya and Tanzania compete to become the main logistics hub for East Africa, supported by projects such as theContinue Reading
(SYDNEY, AUSTRALIA) – The Australian sharemarket closed lower on Thursday as falls in major companies including Commonwealth Bank, Rio Tinto and Telstra outweighed gains elsewhere. The S&P/ASX 200 lost 20.90 points, or 0.2%, to close at 9188.50. Six of the 11 industry sectors finished in the red. The index trimmedContinue Reading
