Trending
- Urbanisation in Africa: Building Inclusive and Sustainable Cities
- Global rally for land restoration intensifies on World Environment Day 2024
- Konza Digital Media City: Kenya Signs $284.1 Million financing Deal with Korea
- The Impact of Technological Change on Business and the Economy
- Global financial reforms: President Ruto’s blueprint for a new-look IMF
- Tourism Rebound Drive Up VFS Global Visa Processes 35 Per Cent in 2023
- Kenyan Banks Favour Medium Enterprises as Small Businesses Struggle for Credit
- What South Korea wants to get from mineral-rich Africa in maiden summit
Business
- Kenyan Shilling to Reach Sh138 this month as effects of global rates and heavy rains come alive
- Additionally, the minor decline in the foreign exchange reserves between April and May signals interventions in the forex market by the CBK.
- The CBK is expected to leave rates unchanged at 13 per cent at its June meeting to support these dollar inflows and provide positive yields to investors.
Financial experts are now predicting that the Kenyan shilling will depreciate to Sh138 against the US dollar by the end of June 2024.
The analysist from pan African market insights firm Stears, say that the Kenyan shilling witnessed large swings in May, after appreciating 2.09 per cent between May 2 and 16. This saw the local currency resume a consistent depreciation to close the month at Sh133.37 against the dollar.
Stears notes that although the currency remained relatively unchanged compared to April, on average, …
Virtual deal rooms (also called VDRs) accelerate M&A deals. They centralize due diligence as well as project management financial, contract, and agreement completion on a single platform with tools for secure collaboration. This reduces the risk of a deal and accelerates M&A cycles, and boosts the value of the deal.
Enhanced Due Diligence
VDRs support the M&A process by enabling streamlined, electronic document sharing with bidders as well as investors. This eliminates the necessity of physical paperwork which reduces costs and waste. Virtual deal rooms, which have features like tags and filters help M&A teams to review multiple documents per transaction. This eliminates confusion and delays while also increasing transparency and accountability.
Legal teams typically utilize VDRs to manage and share documentation for legal cases audits, legal cases, and regulatory compliance. This improves efficiency, reduces costs, and improves collaboration.
Real estate and land transactions require a large number of documents …
Data rooms are essential for business transactions and other applications that require the sharing of documents in a safe way. However there are a few differences. Not all VDRs are created equal and some have more advanced features than others. When looking for a virtual room provider, it is important to be aware of the features available and how they will benefit your business.
M&A
When companies conclude a merger or acquisition, they need to ensure that the relevant documentation is accessible to all parties involved in the transaction. Virtual data rooms aren’t just a central repository for exchange documents, but they also facilitate kellyhansonmarine.com/ collaborative review, which speeds up due diligence.
Investors and partners are able to be located anywhere in the world. A VDR allows them to access documents remotely, which simplifies the review process. Utilizing a virtual data room eliminates the need for physical photocopying and indexing, …
- Stakeholders in the health and technology sectors in East Africa have called on governments to strengthen national supply chains following disruptions caused by the COVID-19 pandemic
- Kenya’s Health Chief Administrative Secretary Rashid Aman noted that strong supply chains would be gotten through focusing on the role of data and technology in policy and regulatory frameworks
- Data indicates that healthcare is one of the sectors that was hardest hit by supply chain challenges at the height of the pandemic
Leaders in the health and technology sectors in East Africa have called on governments to strengthen national supply chains following disruptions caused by the COVID-19 pandemic.
Drawn from ministries of health across five East African nations, the experts said the move would enhance the continent’s post-COVID-19 health security systems.
Data indicates that healthcare is one of the sectors that was hardest hit by supply chain challenges at the height of the pandemic.…
- Britam Holdings says it is changing tact to focus on low-income earners, even as it marks paying KSh 3 billion ($26.3 million) in health and life insurance claims to under-insured customers since 2015
- Emerging Consumer Business Director Saurabh Sharma said many Kenyans could not afford insurance covers currently offered in the Kenyan market
- Sharma noted that low-income earners continued to be the ones affected mainly by risk events, including hospital admissions, loss of a loved one, or business interruptions such as fires and theft
Kenyan insurer Britam Holdings says it is changing tact to focus on low-income earners, even as it marks paying KSh 3 billion ($26.3 million) in health and life insurance claims to under-insured customers since 2015.
The company’s Emerging Consumer Business Director Saurabh Sharma said many Kenyans, especially smallholder farmers and small businesses, could not afford insurance covers currently offered in the Kenyan market.
Sharma noted that …
- Kenyan-headquartered company MarketForce has closed $40 million Series A round, the largest Series A round of its kind in East and Central Africa
- Through the funding, the company will expand its business and avail more digital financial and banking services through its extensive merchant network
- MarketForce is a leading B2B Commerce and Fintech marketplace that empowers informal merchants in Africa to order, pay and receive inventory digitally and conveniently
MarketForce, a company headquartered in Kenya, is the latest startup to receive millions in funding.
On Tuesday, February 22, MarketForce revealed it closed a $40 million Series A round, the largest Series A round of its kind in East and Central Africa.
The company said it will use the funding plans to scale merchant inventory financing and expand in existing markets.
The company said it will avail more digital financial and banking services through its extensive merchant network. MarketForce has a …
- At least 2.3 million Kenyans in 23 arid and semi-arid counties affected by drought will benefit from government relief
- He added that the government had undertaken several measures since the 8th of September 2021, when he declared the ongoing drought a national disaster
- He said the government had released KSh 2 billion to assist the affected households through relief food distribution, water trucking and a livestock offtake programme
At least 2.3 million Kenyans in 23 arid and semi-arid counties affected by drought will benefit from government relief. On Monday, President Uhuru Kenyatta flagged a consignment of emergency relief supplies to reach all affected people.
Kenyatta said the government is focused on implementing interventions to build resilience in all vulnerable households.
He added that the government was diversifying livelihoods from drought-sensitive activities to drought-resilient ones and improving early warning and impact forecasting systems.
He added that the government had undertaken several …
- Stanbic Bank majority shareholder Standard Africa Holdings Limited (SAHL) has received regulatory approval from the Capital Markets Authority to further extend the exemption from making a complete takeover
- Under the exemption, SAHL aims to acquire a maximum of 10.6 million ordinary shares in Stanbic to bring its total shareholding to up to 75.0 per cent of Stanbic Holdings’ ordinary shares
- SAHL first announced the intention to purchase shares from willing shareholders in March 2018 to acquire 59.0 million ordinary shares at a price of KSh 95.0 per share
Standard Africa Holdings Limited (SAHL) has received regulatory approval from Kenya’s Capital Markets Authority (CMA) to acquire a bigger stake in Stanbic holdings.
Standard Africa Holdings Limited (SAHL), which is the majority shareholder in Stanbic Holdings, said it received regulatory approval from the CMA to further extend the exemption from making a complete takeover.
Under the exemption, Johannesburg Stock Exchange (JSE) listed …
The company has managed to make a strong comeback from when it faced an existential threat when prices of commodities slowed down in 2014. Prior to that period, mining company shares were hot because of China’s urbanization. It drove prices of commodities through the roof taking the shares of resource companies with them.
When China’s economic growth slowed down the miners also felt the pinch. The pinch was felt especially at Gold Fields which had to restructure its business and retrench at least 1,300 workers mainly from Ghana to ensure the long term sustainability of the company. The restructuring produced desirable results characterized by net cash inflow of US$ 235 million. In that same year, its Australian operations produced 1 million ounces of gold.
The company’s operations are massive and span 3 continents.…
