The Insurance Regulatory Authority (IRA) has introduced a new initiative aimed at fostering investment in geothermal energy projects across East Africa. The newly launched Geothermal Risk Underwriting Facility is designed to utilize local insurance capital to mitigate risks associated with renewable energy projects, thus encouraging private sector investment in the sector.
Stanbic Bank Kenya is expanding its investment offerings with the launch of two new money market funds, designed to attract both retail and institutional investors. The new funds include the Stanbic Money Market Fund, which provides an impressive annual return of 15.12 percent, and the Stanbic Fixed Income Fund, which offers a yield of 5.56 percent.
RUBiS Energie has announced the appointment of Olivier Sabrié as the new CEO for East Africa and Group Managing Director of RUBiS Energy Kenya. Sabrié, who succeeds Jean-Christian Bergeron, brings extensive experience to the role from his recent position as Chairman and Managing Director & VP South Asia at Total Energies Marketing India Private Ltd.
Safaricom has emerged as the most admired brand in Kenya, according to a recent report by Capital Club and Brand Africa in partnership with Gina Din Group. This recognition underscores Safaricom’s leadership in mobile money, internet services, and voice and data communications, reinforcing its dominant position in the market.
Equity Group’s 2023 sustainability report reveals a substantial increase in social impact expenditure, totaling Sh101.8 billion, a notable rise from Sh72.7 billion in 2022. This impressive investment underscores the group’s commitment to driving sustainability across key sectors such as environmental conservation, education, and health.
President William Ruto has announced that Kenya has officially joined the Asian Infrastructure Investment Bank (AIIB) as a fully paid member. This significant development was confirmed following his meeting with AIIB President Jin Liqun at the bank’s headquarters in Beijing. The new membership opens avenues for Kenya to access concessional funding for a range of development initiatives.
Hotspot Network, a notable telecom tower operator in Nigeria, has partnered with Solarkiosk Solutions to launch a transformative joint venture, Hotspot-Solarkiosk. This collaboration is set to make a substantial impact on the communication and energy landscape in Nigeria’s underserved rural areas.
Gumtree South Africa has introduced a new secure payment and delivery solution, Pay & Ship, designed to enhance the online shopping experience on its platform. This service aims to simplify transactions and logistics, ensuring a seamless process for both buyers and sellers.
