
Absa Sees East Africa Property Boom, Eyes Kenya Expansion
'Kenya is the most dynamic market' of Absa's 11 operations outside South Africa, with the property market a key and growing component, said Sandile Mpanza, head of commercial property finance for Africa at the lender's corporate and investment banking business. Given the size and diversified nature of Kenya's $132 billion economy 'we definitely see this as an anchor in the region,' he said.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
43 minutes ago
- Yahoo
New Zealand to spend $1.6 billion for US maritime helicopters, Airbus jets
SYDNEY (Reuters) -New Zealand said on Thursday it would spend NZ$2.7 billion ($1.6 billion) to buy five MH-60R Seahawk helicopters and two Airbus A321XLR aircraft, the first major investment following a decision to replace the country's aging defence fleet. NZ$2 billion will be used to buy the maritime helicopters, manufactured by Lockheed Martin's Sikorsky unit, and NZ$700 million for the A321XLRs, Defence Minister Judith Collins and Foreign Minister Winston Peters said in a joint statement. Both investments are part of the planned commitments outlined in April in the government's Defence Capability Plan. New Zealand in April pledged to boost its defence spending by NZ$9 billion over the next four years, and aim to nearly double spending to 2% as a share of GDP in the next eight years as part of the Defence Capability Plan. "We will now move at pace to procure helicopters directly through the United States' Foreign Military Sales programme instead of going to a wider tender, with cabinet expected to consider the final business case next year," Collins said. The two new Airbus aircraft, set to replace the Boeing 757 planes, will be acquired on a six-year lease-to-buy arrangement. The New Zealand Defence Force's two 757s are more than 30 years old and their age has made them increasingly unreliable, breaking down several times and stranding the nation's leaders, forcing them to take commercial flights. "This decision will ensure New Zealand has a critical combat capable, interoperable and dependable fleet," Collins said. The government's investment decisions showed it was responding to "the sharply deteriorating security environment," Peters said. "Global tensions are increasing rapidly, and we must invest in our national security to ensure our economic prosperity," he added. An intelligence report released on Thursday said New Zealand was facing the toughest national security challenges of recent times with increasing threats of foreign interference and espionage, particularly from China. ($1 = 1.7170 New Zealand dollars) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Intel in talks with large investors for equity boost at discount, CNBC reports
(Reuters) -Intel is in talks with other large investors to receive an equity infusion at a discounted price, CNBC reported on Wednesday, just days after the struggling chipmaker got a $2 billion capital injection from SoftBank Group. The new funding would be another financial lifeline for Intel, as billions of dollars in investment to expand its contract manufacturing business, which is struggling to compete with Taiwan's TSMC, has strained its balance sheet. The CNBC report, which cited people familiar with the matter, did not name the potential investors. Intel, whose shares fell 7%, did not respond to a Reuters request for comment. This could be the second capital injection at a discounted price after SoftBank's investment at $23 per Intel share for a stake of just under 2%. The company's shares had risen nearly 7% on Tuesday on SoftBank's investment plan and had last week gained more than 23% on reports of the U.S. government taking a stake. On Tuesday, Commerce Secretary Howard Lutnick said the government wants an equity stake in Intel in exchange for CHIPS Act grants approved by former President Joe Biden's administration. Intel, which had secured about $8 billion in subsidies to build factories - the largest outlay under the 2022 CHIPS Act- has significantly pared back manufacturing ambitions under new CEO Lip-Bu Tan. Years of management missteps has left the company with virtually no foothold in the booming artificial intelligence chip industry dominated by Nvidia. Of late, Intel has been on shaky ground with Washington, with U.S. President Donald Trump meeting Tan last week, after seeking his resignation over "highly conflicted" ties to Chinese firms. Intel's last fiscal year of positive adjusted free cash flow was 2021 and it recorded an annual loss of $18.8 billion in 2024, its first such loss since 1986.
Yahoo
an hour ago
- Yahoo
Coherent (COHR) Stock Gets $105 PT and Maintains Outperform Rating
Coherent Corp. (NYSE:COHR) is one of the On August 14, Northland raised the firm's price target on the stock to $105 from $95 and kept an Outperform rating on the shares. The rating affirmation follows 'slightly better' than expected fiscal Q4 results. According to the analysts, Coherent headed into earnings trading at a 35% discount to peers Lumentum and Fabrinet (FN). However, it noted that 'the kind of revelry' seen from Lumentum this earnings season 'was not in evidence.' The firm further said that it 'would look to take advantage of sharp after market weakness in the shares.' A financial analyst in a suit analyzing a chart of investments in the US fixed income markets. Coherent Corp. (NYSE:COHR) is an American manufacturer of optical materials and semiconductors. While we acknowledge the potential of COHR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None.