President William Ruto has officially launched Kenya’s first shariah-compliant bond, the ‘Linzi Sukuk,’ on the Nairobi Securities Exchange’s (NSE) Unquoted Securities Platform (USP). This groundbreaking initiative aims to finance the development of 3,069 affordable housing units, addressing a critical need for accessible housing in the country.
Nation Media Group (NMG) bid farewell to its Chief Executive Officer, Stephen Gitagama, who is stepping down after 17 years of dedicated service. His last working day at the media house is July 31, marking the end of an era of transformative leadership.
Nala, an African remittance startup, has raised a remarkable $40 million in Series A funding, marking one of the largest transactions of its kind in Africa. This round, oversubscribed and led by Acrew Capital, with support from DST Global and other notable investors, underscores confidence in Nala’s vision and growth potential.
Kingdom Bank has expanded its footprint in Kenya with the opening of its 22nd branch in Meru County, marking the third branch launch this year. This strategic move underscores the bank’s commitment to supporting the vibrant agricultural community and fostering local business growth in the region.
Safaricom, a leading Kenyan telco, has donated $116,279 to assist protest casualties and hospitals, demonstrating its commitment to community support in times of crisis. The donation includes $77,518 allocated to the hospital’s Disaster Response Centre and $38,759 for assistive gadgets for injured victims, aiding those hospitalized. This generous contribution will also provide affected individuals with…
NCBA Group has officially completed its 100% acquisition of AIG Kenya Insurance Company Limited (“AIG Kenya”), marking a significant milestone in the financial services industry. This strategic acquisition, announced on Monday, strengthens NCBA’s position in the market and brings into its fold an insurance business with over 50 years of experience and a strong reputation for providing comprehensive general insurance solutions to Corporates, SMEs, and individuals.
Nvidia has surged to become the world’s most valuable company after its share price hit an all-time high on Tuesday. The stock closed at nearly $136, up 3.5%, surpassing Microsoft in market value and overtaking Apple earlier this month.
The Kenyan government has earmarked approximately $125.3 million to bolster projects within the Information, Communication, and Technology (ICT) sector during the upcoming 2024/2025 financial year. National Treasury Minister Njuguna Ndung’u announced the allocation in Parliament, emphasizing its strategic importance for national development.
