Cross-border payment firm led by Ugandan tech tycoon lays off employees again
Since its inception nearly five years ago, Chipper Cash has raised $300 million in venture capital funding, securing a valuation of $2.2 billion.
Since its inception nearly five years ago, Chipper Cash has raised $300 million in venture capital funding, securing a valuation of $2.2 billion.
The growing number of legal disputes surrounding Bitature has raised concerns about his financial standing.
BasiGo has secured $5 million in debt funding from British International Investment.
Bakhresa’s planned investment holds immense significance in enhancing Malawi’s self-sufficiency in cooking oil production.
The move aligns with its strategy to bolster earnings and revenue by expanding its reach across East Africa.
This recent surge solidifies Ndegwa’s position as one of Kenya’s wealthiest investors.
Under Mwangi’s leadership, Equity Group evolved into an integrated financial services group with active operations spanning six African countries.
Mwangi credited the growing influence of Equity Group’s subsidiaries, especially the DRC unit, for the overall performance of the group in the first nine months of 2023.
Boasting a majority 65.46-percent stake in the company, the Merali family has long been regarded as one of the wealthiest families in Kenya.
Prior to the recent ruling, the International Chamber of Commerce Court of Arbitration ordered Bitature, his wife, and their companies to pay a total of $65.7 million.
Under the leadership of Mwangi, Equity Group has solidified its position as a dominant force in East and Central Africa.
Muriuki, who sits at the helm of Co-op Bank and ranks as one of Kenya’s leading investors, holds a significant stake of two percent in the leading financial services group.
Muriuki, managing director of Co-op Bank, emphasized the bank’s commitment to sustainable growth, resilience, and agility.
The agreement was signed by Mohy Eldin Abdin, group CFO of Hassan Allam Group, and Kanayo Awani, executive vice president of Intra-African Trade Bank at Afreximbank.
NCBA Group is a Nairobi-based financial services conglomerate partially owned by the Kenyatta family renowned as Kenya’s largest landowners.
This venture comes on the heels of Elsewedy Electric’s $40 million investment in a Tanzanian electrical tools factory in 2021.