A $6 Billion Investment in Building a More Prosperous Future for African Businesses and Individuals
Author: David Indeje
David Indeje
David Indeje is the Community Engagement Editor at Khusoko, East Africa’s leading digital business news platform. He shapes editorial content, drives audience engagement, and amplifies diverse voices. Beyond journalism, he consults on digital strategy across agriculture, governance, technology, and health, while examining AI’s role in the future of media. He also serves as Communications Officer at KICTANet, advancing digital inclusion and policy dialogue.
The International Finance Corporation (IFC) is investing $165 million in Airtel Africa to boost mobile connectivity in Africa. This funding will target Airtel Africa’s operations in Kenya, Rwanda, and the Democratic Republic of Congo (DRC). The project aims to deliver better connectivity and a more modern telecom experience for Airtel Africa’s customers in the three countries. Part of the funds will go towards upgrading Airtel Africa’s telecom networks and acquiring new equipment for 4G technology. Additionally, the investment will support expanding fibre optic cable capacity. The IFC’s investment will also help Airtel Africa refinance existing US dollar-denominated debt. “The CAPEX component…
In a nation striving for universal health coverage (UHC), Equity Afia medical centres are crucial in bridging the healthcare gap. Kenya’s Universal Health Coverage (UHC) initiative, outlined in the 2014-2030 Health Policy, aims to revolutionise the healthcare system by ensuring high-quality services across all public and private healthcare facilities and making healthcare accessible and affordable. The policy prioritises preventive and promotive healthcare at the household level, strengthening primary healthcare as the system’s foundation. Founded in 2015 by Equity Group Holdings, the franchise has increased, expanding its reach to serve a wider population across Kenya. Equity Afia’s national footprint now stands at 102…
United Bank for Africa (UBA) has strengthened its presence in Kenya and Uganda, with 94% and 80% ownership as of the end of the fiscal year 2023, respectively. According to the lender’s latest annual report (2023), “During the year, the bank made additional investments in four (four) subsidiaries (UBA Mali, UBA Chad, UBA Guinea, UBA Uganda, and UBA Kenya) totalling N38.297 billion. These additional investments have been reflected in the subsidiaries’ capital as of December 31, 2023, after getting approvals from the host regulatory authorities.” UBA spent a total of NGN 18.49 billion ( $16.04 million) to increase its ownership stake…
A new study by Kenya’s Competition Authority of Kenya (CAK) reveals a surge in online grocery shopping. The “Online Food and Groceries Delivery Platforms Market Study” report paints a promising picture, projecting that by 2027, over 10.5 million Kenyans will be grocery shopping online. “Additionally, it was estimated that 9.3% of Kenyans are shopping for food and groceries online as of 2023; this is projected to rise to 16.7% by 2027, an equivalent of 10.5 million consumers,” CAK shows. Convenience and Efficiency Drive Growth The study attributes this rapid growth to the convenience and efficiency of online grocery shopping platforms. Factors like…
Human Mobile Devices (HMD) Global, known for its Nokia-branded phones, has unveiled its first line of smartphones under its brand: the HMD Pulse Pro, HMD Pulse+, and HMD Pulse in the Kenyan market. HMD emphasizes a commitment to understanding consumer needs and anticipating market trends. The company positions repairability as a core innovation in this new smartphone chapter. Every phone in the Human Mobile Devices Pulse range boasts “Gen 1 repairability,” allowing users to replace damaged components without extensive technical expertise. HMD’s launch aligns with the growing trend of repairable electronics. Their research suggests a significant shift in consumer behaviour…