Aga Khan Fund for Economic Development has announced a deal to sell 100 percent of its shareholding in Nation Media Group (NMG) under NPRT Holdings Africa. In a notice, AKFED says it will sell its 100 percent in NPRT Holdings Africa Ltd to Taarifa Ltd. “NPRT holds a 54 percent shareholding in National Media Group (NMG) comprising 92,618,177 ordinary shares,” says the fund. The transaction the fund says will mark the end of its 66 year old association with NMG, which is a regional media power house. Taarifa Ltd it says is owned by businessman Rostam Azizi, who is also…
Author: MSN Reporter
Kenya’s near term debt default risk has declined. This is according to Moody’s Rating of B3 which additionally changes the country’s outlook to stable. In a press statement, Moody’s says the changes have been attributed to strengthening external liquidity, based on a higher foreign exchange reserves. “Kenya has returned to the external bond market and used the proceeds to execute liability management operations that smooth the external maturity profile and reduce near-term refinancing risks,” the agency says. It also credits the stable outlook rating to a narrower account deficit, and a more stable exchange rate. On the flip side, the…
As Africa prepares to convene in Addis Ababa for the second Africa Climate Summit (ACS) in September 2025, the continent stands at a critical intersection. The dual threats of climate change and socio-economic fragility continue to deepen inequalities, exacerbate conflict, and undermine food security. Yet, the summit also presents an opportunity: to reimagine climate action that is just, inclusive, and gender-responsive. Climate change is no longer a distant threat, it is a present crisis. With Africa warming faster than the global average and facing intensifying droughts, floods, and biodiversity loss, collective action has never been more urgent. However, such action…
On Thursday, 8th May, 2025, a white smoke poured from the chimney on the roof of the Sistine Chapel at 6:07 p.m. Rome time and later, French Cardinal Dominique Mamberti, protodeacon of the College of Cardinals, appeared on the central balcony of St. Peter’s Basilica at 7:12 p.m. He told the crowd: “I announce to you a great joy. We have a pope (‘Habemus papam’),”. Ten minutes later, the new Pope Leo came out onto the balcony, smiling and waving to the crowd wearing the white papal cassock, a red mozzetta or cape and a red stole to give…
Naivas Supermarkets insists that it is open and operational. This is despite a claim by a section of Nairobi County Assembly members that it was ordered to close its city operations. The retailer, in a statement, refuted claims made by the members of the city county assembly that it was stocking expired products. Further, it terms the claims as false, malicious, and misleading to their brand. “Naivas has a very strict anti-bribery and corruption policy and will not submit to extortionary tactics” it adds in the statement.
Only 12 Kenyan-based firms have featured in the Financial Times’ 2025 growing companies list. Out of the 130 businesses, South Africa and Nigeria dominate, accounting for 79 firms in the list. The FT ranking was compiled in conjunction with research company Statista. In the list, Roam Electricals AB tops the home list at position 35. Listed firm TPS Eastern Africa trading as Serena Hotels follows closely at position 41. M-Kopa Holdings is ranked in position 68 on the continent, while Quickmart Supermarkets and Impax Business Solutions follow at numbers 79 and 82, respectively. Homabay-based Victory Farms, which deals in the…
Nigerian lender Access Bank PLC has received regulatory approval to acquire 100 percent of the National Bank of Kenya. The deal estimated to be worth Ksh13 billion was initially announced in March of 2024. The agreement has been subject to regulatory processes and received the green light from the Central Bank of Kenya last week. Part of the approval by the Competition Authority of Kenya (CAK) was on condition that Access Bank retains 80 percent of NBK staff for at least one year. The completion of the deal comes on the backdrop of NBK swinging back to profitability. In its…
By Mukami Njue Africa remains ensnared in the structural cyclical debt trap, either in the guise of grants, concessional lending, or credit-enhanced capital. Despite low debt default risks, African governments continue to be saddled with low credit ratings. As of 2024, debt interest payments had increased to 27.5% of public revenues; yet credit ratings still portray Africa as a high-risk investment destination. For decades, the ‘Big Three’ credit rating agencies – Fitch, S&P, and Moody’s – have enjoyed monopoly and dictated Africa’s access to international capital. Their assessments are often distant, biased, and not indicative of the risk of investing…
Over 10,000 listed firms globally lost $10.3 trillion in market capitalisation between March 17th and April 8th 2025. Research by BestBrokers, says that United States was hit hardest in the period with $5.36 trillion wiped from company valuations. “While the US S&P 500 alone has lost nearly $6 trillion since the announcement of swipping tariffs under President Trump, the impact has been global. Billions in value have evaporated across markets in every major region,” says BestBrokers in their research report. The report says China wipped out $923.6 billion in the period, while Japan lost $434 billion, Germany $289 billion and…
Kenyans missed out on the 2025 Africa’s rich list compiled by Forbes Africa Magazine and published in April. Nigeria’s Aliko Dangote once again topped the billionaires list with his net worth now estimated at $23.9 billion. This brings his net worth to an additional $10 billion, having grossed $13.4 billion in the previous year. Dangote has business interests spanning Cement, Sugar, and more recently oil refining in his home country of Nigeria. His other interests include a fertilizer plant in Nigeria. According to Forbes Africa, the 22 African billionaires on its list are worth a combined $105 billion, with two…