Open Society Foundations (OSF), led by Kenyan human rights lawyer Binaifer Nowrojee, has announced a significant $400 million (Sh51.85 billion) investment for global projects aimed at promoting economic prosperity and addressing climate change. This initiative underscores OSF’s commitment to tackling pressing global challenges through its Economic and Climate Prosperity programme.
Kenya is set to revolutionize its business climate with the introduction of a single online portal for foreign investors to apply and register nearly all business permits. This strategic move aims to enhance the ease of doing business and reduce regulatory costs for new firms.
Kenya is actively seeking investment from Malaysia’s private sector to support its ambitious Digital Superhighway plan, aimed at accelerating the country’s digital economy. The initiative includes deploying 100,000 kilometers of optic fiber and numerous Wi-Fi hotspots to connect public institutions and residences across Kenya.
The European Investment Bank (EIB) has announced a significant investment of €25 million (Sh3.5 billion) in Amethis Fund III. This pan-African fund aims to provide private equity growth capital to medium-sized enterprises across the continent, including in Kenya. The EIB’s investment underscores its commitment to fostering economic development and supporting businesses that drive sustainable growth in Africa.
Emtel, the Indian Ocean telecoms giant, has officially gone public on the Stock Exchange of Mauritius (SEM). In a significant move, Emtel has opened up 25% of its shares to investors from South Africa, the United Kingdom, and Mauritius. This landmark Initial Public Offering (IPO) offers a unique opportunity for investors to be part of a leading telco’s future growth and success.
President William Ruto has pledged Kenya’s substantial investment of USD 100 million (Ksh. 13.2 billion) over the next three years into the continent’s multilateral financial institutions. This investment is aimed at increasing Kenya’s shareholding in these institutions, signifying a strong vote of confidence in their potential and impact.
Car & General, a Nairobi Securities Exchange-listed firm, is expanding its footprint in the property sector with plans to launch an Sh800 million mall project in Shanzu, Mombasa. The project, scheduled to begin construction next year and be completed by 2026, aims to capitalize on the upgraded Mombasa-Mtwapa-Kilifi highway, enhancing accessibility and attracting a broad range of tenants.
MTN Chairman, Mcebisi Jonas, highlights Africa’s digital infrastructure investment plan, projecting over $12 billion by 2030.
