The United States recently slapped a $222 million fine on the German software company SAP on the grounds of bribery. The company was alleged to have attempted to bribe government officials from several African countries. The bribes were said to […]
Global Infrastructure Partners (GIP), the world’s largest independent infrastructure manager with over $100 billion in AUM, and BlackRock, Inc. have jointly announced that the companies have entered into an agreement for BlackRock to acquire Global Infrastructure Partners for total consideration […]
Brent crude is expected to trade in a $80–90 barrel range in 2024 as supply may outstrip demand, UBS said in a report. “With OPEC+ spare capacity higher than before, ensuring that not-too-much supply is added will be a tough […]
The aggregate market capitalisation of the top 25 global banks grew by 11% to $3.61 trillion quarter-on-quarter (QoQ) during the fourth quarter of 2023, London-based GlobalData said in a report. The rise in market cap was due to the recovery […]
In December 2023, Ghana’s inflation dropped to 23.2%, a significant decline from the 26.4% reported in November 2023. The annual rate of food inflation eased to 28.7% and the non-food inflation rate slowed to 18.7%. Locally produced items experienced 23.8% […]
Tech in Africa has become an integral part of the continent’s economic makeup and by extension tech funding. Companies such as Flutterwave and MNT-Halan have gone on to make significant strides in Africa’s tech ecosystem, paving the way for more […]
Bahrain Steel, a producer and supplier of iron ore pellets, has announced the syndication of a $450 million sustainability-linked loan (SLL), spanning seven years. Proceeds from the loan will be directed towards capital expenditure for constructing the world’s largest stockyard […]
Abu Dhabi conglomerate International Holding Company (IHC) on Tuesday announced it had established 2PointZero, a holding company which will have more than Dhs100bn ($27bn) in assets. 2PointZero will hold ownership in entities whose transfer to IHC has been initiated, after […]
Kenya continues to experience an increase in its diaspora remittance, leaving room for some conversations to be had. One such conversation is how the Kenyan government can utilize some of the money realized from these remittances to invest locally. This […]
Uganda estimates it will pay power distributor Umeme Limited about $225 million to allow the utility to recoup its investments in the national grid after its concession ends in March 2025, a top Energy ministry official said. Umeme, which is […]
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