Finance

A new quarterly market report by analysts at AfricanFinancials Group has placed Safaricom as the most valuable brand in East Africa in the three months ending June. The research piece, titled The East Africa & Mauritius Top 30 Companies, estimated the Kenyan telecoms giant’s market capitalisation...

Egypt experienced a 60% rise in foreign direct investment (FDI) last year, making it the largest recipient of overseas investment in Africa, according to a recent report by fDi Intelligence. The North African nation overtook South Africa in the number of FDI projects received, after seeing...

South African billionaire Patrice Motsepe’s financial services group African Rainbow Capital (ARC) has launched an insurance subsidiary firm called African Rainbow Life. African Rainbow Life will focus on long-term insurance products including life cover, savings, investments, retirement annuities and funeral cover, primarily aimed at the lower...

Five Kenyan banks have launched a pilot lending service via mobile phone for the benefit of the country’s small and medium-sized business, the central bank announced on Monday. KCB Bank Kenya, Commercial Bank of Africa Limited (CBA), Cooperative Bank of Kenya, Diamond Trust Bank and NIC...

South Africa’s central bank has revealed that foreign direct investment (FDI) into the country more than doubled in 2018, boosting President Cyril Ramaphosa’s hopes of attracting US$100 billion of investment over five years. FDI inflows rose to a five-year high of R70.7 billion ($4.88 billion) in...

South Africa’s economy grew by 0.8% last year according to latest figures from Statistics South Africa, which also revealed GDP growth of 1.4% in the fourth quarter of 2018, compared to 2.6% in Q3. The latest figures from Statistics South Africa (Stats SA) portray an economy that...