Mdundo on Friday listed its shares on the Nasdaq First North Growth Market aimed at raising additional funds for its growth into new African markets. The Kenyan-based streaming platform will be trading on Nasdaq Copenhagen in Denmark, after a two-week presale period that raised $6.4m. During the period, the company’s share sale offer was oversubscribed by 111% from 2,914 investors. “Mdundo currently has 5 million monthly users, but our potential is more than 30 times greater,” Mdundo CEO Martin Nielsen said. “With a steep growth curve and a very scalable solution, we plan to invest further in user growth to…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
Benson Ochieng, one of the outstanding players in the second edition of Chapa Dimba Na Safaricom, has signed a five -year contract with Kenya Premier League side Gor Mahia. The 18-year-old striker was signed on 1st September 2020 with a statement on Gor Mahia’s website confirming the teenage sensation had joined the club. Ochieng made history by becoming the first player to score a hat-trick for Western Stima in a KPL match. This earned him a KPL Sports Journalist Association of Kenya (SJAK) player of the month award in December 2019, becoming the third Western Stima player to win the…
Bruno Thomas has retired as an independent director on the East African Cables board by rotation effective Sept 3. The cable manufacturer, Bruno has served as a technical advisor for 14 years. “His contribution to the company is evident in the transformation and modernization of our manufacturing facilities to world-class status. Mr Bruno leaves a legacy of safety, quality conformance, cost optimization and efficiency in production,” said the board in a statement. According to EAC, each Non-Executive Director serves the Board for a term of three years which is renewable. In accordance with the company’s Articles of Association, non-executive directors…
The Central Bank of Kenya’s treasury bills auction was undersubscribed attracting bids amounting to Ksh10.9 billion against the targeted Ksh 24 billion. This translates to a performance rate of 49.57 percent compared to last week’s 52.33 percent performance rate. According to the CBK, the 91 days bills received bids worth Ksh2.73 billion against Ksh 4 billion. CBK accepted Ksh 2.25 billion at an average interest rate of 6.295 percent. The 182 days bills sought Ksh10 billion received bids worth Ksh3.16 billion representing a 31.62 percent performance rate. CBK accepted Ksh2.68 billion at an average interest rate of 6.63 percent. The…
A gendered power imbalance has existed in our societies since time immemorial. Globally, and in Africa especially, there is a paucity of women in leadership roles. But COVID-19 has shown us that women are more than equipped to be the leaders that the world needs and longs for. Research has revealed that women-led counties such as Denmark, Germany and New Zealand handled the virus more effectively and efficiently. This points to the fact we urgently need to disabuse ourselves of the belief that men make better leaders. We need to start imagining and creating societies in which gender is not…
Kenya Bankers Association (KBA) says all is set as it prepares to host the Africa Regional e-Conference for Leading Women in Banking and Finance from 15th to 16th October 2020. The virtual summit themed “Breaking Barriers and Redefining Leadership in Africa,” will bring together senior women officials from more than 10 countries. The online event will enable networking, exchange of ideas, and inevitably promote gender diversity in leadership. The e-summit will consist of fireside chats, panel discussions, and interactive breakout sessions. KBA CEO, Dr Habil Olaka said, “The e-conference topics have been designed to showcase the immeasurable opportunity a gender-inclusive…