Ethiopian Airlines Group is poised to strengthen Ethiopia’s e-commerce sector through a strategic partnership with AliExpress. The collaboration will utilize Ethiopian Airlines’ logistic hub to streamline the distribution of AliExpress products, potentially offering a significant boost to businesses seeking to penetrate international markets.
Selar, Africa’s leading marketplace for digital creators, is expanding its footprint into Kenya, recognizing the country as the largest market in East Africa with a vibrant community of creators. The platform offers a robust e-commerce store builder that empowers creators to monetize their digital products, such as courses, e-books, music, art, and more. This expansion aligns with Selar’s mission to drive economic growth by providing Kenyan creators with the tools to effectively showcase and sell their digital content.
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.
