Jumia has successfully closed the sale of 20 million ordinary shares, achieving its funding target of $99.6 million. The transaction, detailed in a recent securities filing, was completed with an average share price of approximately $4.95, slightly above Friday’s trading price. Notably, liquor and wine maker Pernod Ricard acquired 1.27 million shares valued at around $6 million.
MetroTrans Investment Limited has made a significant investment of Sh103 million in the modernization of its fleet, acquiring 14 new Hino buses as part of its strategy to enhance public transportation services. These buses, locally assembled by CFAO Mobility Kenya and financed by Family Bank, are a testament to the company’s commitment to providing reliable and efficient transport solutions for Nairobi’s growing population.
Shelter Afrique Development Bank (ShafDB) and CPF Group have signed a Memorandum of Understanding (MoU) to accelerate the implementation of large-scale affordable housing projects in Kenya. This partnership aligns with ShafDB’s long-term goal of supporting member states through public-private partnerships, emphasizing the critical need for affordable housing solutions in the country.
Equity Group has announced the appointment of Mr. Moses Okoth Nyabanda as the Acting Managing Director of Equity Bank Kenya, following the early retirement of Mr. Gerald Warui. Mr. Nyabanda, who currently serves as the Group Chief Finance & Strategy Execution Officer at Equity Group Holdings Plc, will assume his new role pending approval from the Central Bank of Kenya.
One week after announcing its closure, Mobius Motors, a Kenya-based automaker backed by Playfair Capital, has accepted an acquisition offer from an undisclosed buyer. This development comes as a significant turnaround for the company, which had been struggling financially.
Angola Cables has achieved a significant milestone with data traffic across its network reaching a record peak of 18,448 Tbps. This achievement has elevated Angola Cables to the 24th position in the Center for Applied Internet Data Analysis (CAIDA) global rankings, making it the only African network operator in the top 50.
Tobias Alando has been appointed as the new CEO of the Kenya Association of Manufacturers (KAM), succeeding Anthony Mwangi, who has stepped down from the position. Alando, who previously served as KAM’s Chief Operating Officer, brings a wealth of experience and an insider’s perspective to the role.
Information and Communication Technologies (ICTs) are poised to significantly accelerate progress towards achieving the 17 United Nations Sustainable Development Goals (SDGs), according to the United Nations Industrial Development Organization (UNIDO). Zhao Xiaolei, Head of UNIDO ITPO, highlighted at MWC24 Shanghai that digital transformation offers immense potential for creating value through job creation, economic improvement, and fostering harmonious societies and environments.
