Raisin Capital, a leading African capital-raising advisory firm, has successfully facilitated the closure of a new share purchase agreement between SMEP Microfinance Bank and HOPE International, a global investor in microfinance. The transaction grants HOPE International a 51% controlling stake in SMEP. This achievement underscores Raisin’s commitment to supporting African economic growth by helping African businesses access capital. According to Symon Kamore, the CEO of SMEP Microfinance Bank, “With HOPE International’s experience in the microfinance sector, we are strengthening SMEP’s current position as a competitive and growing institution. Furthermore, because of HOPE’s Christ-centered values, this investment allows us to deliver well…
Author: Muindi
Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.
Rwanda will go to the polls in July 2024 for its presidential and parliamentary elections. Incumbent President Paul Kagame aims to extend his nearly three-decade grip on power. The Presidential Order relating to elections of the President of the Republic and Deputies has been published in the Official Gazette. Find it here:https://t.co/6Bocfb7v3p — National Electoral Commission | Rwanda (@RwandaElections) December 12, 2023 Key Dates and Details: Voting Day: July 15, 2024 (President & 53 lower house deputies) Remaining Deputies: July 16, 2024 (27 seats) Kagame’s Bid: Seeking re-election for another five-year term Eligibility: The 2015 constitutional amendment allows Kagame to remain in office…
The Kenyan Insurance Regulatory Authority (IRA) has taken decisive action against two insurance companies, placing Xplico Insurance Company Limited under statutory management and cancelling the operating license of Invesco Assurance Company Limited. Existing Xplico policyholders are urged to immediately find new insurance coverage with licensed insurers to avoid any gaps in protection. “Its existing policyholders are advised to immediately seek alternative covers from other licensed insurers to ensure that there is no unnecessary exposure. The Policyholders Compensation Fund will compensate the affected claimants as provided for under the Insurance Act, CAP 487 Laws of Kenya,” IRA said. Invesco License Cancelled…
Carrefour Kenya opened its 22nd store in the country, bringing its signature convenience and extensive product range to the vibrant coastal region of Mombasa. The new store, located at Promenade Mall in Nyali, spans over 1,500 square meters and offers a diverse selection of products, from everyday essentials to fresh groceries, catering to the needs of the local community. “The launch of our Promenade Mall store underlines our dedication to delivering quality, variety, and convenience to our customers,” said Christophe Orcet, Regional Director, East Africa, Majid Al Futtaim. “Additionally, at Majid Al Futtaim, we are and will remain committed to…
Global technology leader Xiaomi closed 2023 with the launch of the Redmi 13C, the ideal Christmas gift for tech enthusiasts and budget-conscious consumers. This affordable smartphone boasts top-notch features, making it the perfect present for yourself or a loved one. Redmi 13C Highlights: Immersive Display: The 6.74-inch display delivers vibrant colours, sharp details, and unmatched clarity for an extraordinary visual experience. 50MP Triple Camera: Capture stunning landscapes, close-up portraits, and low-light scenes with detailed clarity. Long-lasting Battery: The 5000mAh battery ensures your phone keeps up with your busy lifestyle, with 18W fast charging for quick recharges. Powerful Performance: The MediaTek Helio G85 processor delivers…
Express Kenya, a public limited company that provides warehousing and storage services, custom transport solutions, and quality logistic services, has issued a profit warning, projecting net earnings for the fiscal year ending December 31, 2023, to be at least 25% lower than those in the previous fiscal year. The company also handles all customs documentation for imports and exports and offers cargo insurance coverage against all risks of physical loss or damage. It cited economic challenges in its profit warning to its investors. “The company has been faced with adverse economic challenges this year. The warehousing operations are still significantly low…