NCBA Group has reported a robust start to the year with a profit after tax of Sh5.3 billion in the first quarter of 2024, marking a significant increase from Sh5.1 billion in the same period last year. The growth was driven by improved operating income and a nearly 40 percent drop in credit loss provisions.
Ghana is set to choose a company by December to build its first nuclear power plant, a significant step toward closing electricity supply gaps in Africa, where over 600 million lack access to electricity. Contenders include France’s EDF, US-based NuScale Power, China National Nuclear Corporation, and others.
Kenya’s education sector is set to receive a significant boost with a $32 million (Sh4.2 billion) investment from the US, aimed at fostering innovation, research, and job growth in STEM fields. This funding supports new partnerships between Kenyan universities and industry, announced during President William Ruto’s visit to the US.
Jambojet is set to launch its new Mombasa-Zanzibar route on July 1st, 2024, marking a significant boost for tourism and trade between Kenya and Tanzania.
KCB Group has reclaimed its position as East Africa’s most profitable bank with an impressive 69% growth in net earnings for Q1 2024, reaching Sh16.5 billion. The bank’s robust performance underscores its resilience and strategic growth initiatives.
Microsoft and G42 are teaming up to build a hyperscale data centre in Kenya, part of a US$1-billion investment plan in the region. This initiative forms a key part of a comprehensive digital investment package in Kenya.
Liquid Intelligent Technologies has announced a groundbreaking partnership with Eutelsat Group to bring enterprise-grade Low Earth Orbit (LEO) satellite services to Africa. This collaboration will make high-speed, low-latency satellite connectivity accessible across the continent, revolutionizing the way businesses and communities connect.
Sophos, a global leader in innovative security solutions, is proud to announce Joe Levy as the new CEO. Joe, who has been with Sophos for nine years, has been acting CEO since February 15th. Under his leadership, Sophos has transformed from a product-only vendor into a global cybersecurity giant, including the development of an incident response team and managed detection and response (MDR) service that protects over 21,000 organizations worldwide.
