WorldRemit founder Ismail Ahmed has committed $500 million of his own wealth and investments to Somaliland-focused development programmes over the next 10 years. Ismail’s foundation is based in London and Hargeisa, Somaliland’s capital and will initially focus on education, healthcare and infrastructure projects across Somaliland. The Sahamiye Foundation seeks to help over 1 million adults and young people acquire literacy skills in the Somali language and double Somaliland’s literacy rate from 45% to 90% by 2023. The Foundation will also support over 100,000 people to develop technical and vocational skills for employment and entrepreneurship; invest in start-up accelerators, and increase…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Steve Okeyo and Kris Senanu are leaving Telkom Kenya after making an impact on the telco,” said Mugo Kibati, chief executive officer of Telkom Kenya, in a statement. After two years, Okeyo leaves the Telkom family, having provided the requisite leadership and ensuring that the processes and systems needed for the next phase of growth in the Consumer Unit are in place. Senanu leaves the Telkom family after close to 5 years, having infused the much-needed synergies and renewed vision into the Digital Unit, to enable it to focus on more innovative approaches that will create further value to Telkom’s…
Japanese conglomerate Toshiba Corporation has received a buyout offer from, CVC Capital Partners, a British private equity fund in a deal that could be worth about $20 billion. “Toshiba received an initial proposal yesterday (Tuesday) and will ask for further clarification and give it careful consideration,” Toshiba said in a statement. “The company will make a further announcement in due course.” Toshiba is one of Japan’s largest firms whose business empire stretches from home electronics to nuclear power stations.
Even though Janu-worry is over, a lot of us are still feeling the pressure on our budgets. Or maybe you’re sticking to your New Year’s resolutions to cut back your spending and save up this year? Either way, DStv has budget-friendly packages to help you reach your goals while still giving you the best in local and international entertainment around. You get to enjoy a variety of entertainment across different genres at a price point that suits your budget. DStv Family and DStv Access offer you everything from movies and kids show to documentaries and news channels. It’s everything you…
M-PESA Foundation in collaboration with the Children’s Investment Fund Foundation (CIFF) Wednesday commissioned the Impact Philanthropy Africa Forum which aims to bring together self-funded corporate charitable foundations. The forum was launched during a virtual workshop themed Building Back Better: Growing Corporate Social Investment (CSI) in Kenya. The forum provides a platform for Impact Philanthropy Africa members, key thought leaders across policy, research, funding and government to share their perspective on the state of the sector and emerging opportunities to scale corporate giving for social impact in Kenya. The corporate philanthropies have committed to developing strategies that are aligned to key…
The central bank of Kenya on behalf of the National Treasury raised Ksh 81.9 billion on Wednesday from its 18-Year Treasury Bond (NO. IFB1/2021/018) April auction. The bond was oversubscribed with a performance rate of 147.63% with bids received totalling KSh88.6 billion against an advertised amount of KSh60 billion. The average interest rate is 12.667%. https://twitter.com/CBKKenya/status/1379809160582270978?s=20 The previous IFB issue (IFB1/2021/16) in January sold at 12.25%. Its yield has dropped by about 50bps since it began trading in the last week of January according to market analysts. “Their (Infrastructure bonds) allure due to their tax benefits have made them attractive,…