MTN Uganda has failed to hit its expected fund-raising target after its much-publicized IPO. The IPO, which was highly restricted to East African investors, was a much-hyped affair. The IPO was also heavily discounted in a bid to attract investors.
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The Nairobi Stock Exchange is starting to dream of better days ahead as foreign investors troop back in. The bourse, which is the largest in East and Central Africa in terms of market capitalization, has seen a 64% jump in
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British oil company Tullow is looking for new Kenyan partners to help accelerate plans to commercially produce oil in Kenya’s Turkana County. Tullow notes that it is looking for a strategic partnership that would streamline, and to some extent, reduce
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MTN Uganda has announced plans to float its first IPO in the Uganda Securities Exchange. The telecoms company is hoping to raise $1.2 Billion and would offer a fifth of its business to investors in return. The IPO will be
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Fuel prices in Kenya have hit an historic high. A sharp rise in fuel prices amidst the pandemic sparked protests from legislators and motorists across the country. Fueled by the pandemic, the price of petrol in East Africa has seen
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East African countries have tabled their budget allocation as they prepare for uncertain economic times . However, the budgetary estimates paint an optimistic future buttressed by tax waivers and economic incentives. In uncertain times, the countries have put in place
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The pioneer industrialist, stocks markets baron and beloved disc jockey Dr. Chris Kirubi has died at 80. The multimillionaire with a Midas touch and smooth-talking host of The Fuse on Capital FM succumbed to Colon cancer on 14th June this
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East Africa’s top banks have defied the tough economic crisis of the pandemic to report a rise in profits. The resilience of top banks has been tested by mobile money transfer and rising defaults in loan repayments. Moreover, sluggish economic
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The International Monetary Fund in April approved a $2.34 billion three-year financing package to Kenya. The fund projects that Kenya will borrow upwards of $12.4 billion abroad by 2022. These funds will support Covid-19 prevention efforts and reduce the country’s
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Tanzania’s newly-appointed president, Samia Suluhu Hassan, announced on Saturday that the government will temporarily reduce income tax in the country.
