Investors update: IMF clears $447m for Kenya to address debt, reforms.
3 min Read December 20, 2022 at 12:53 PM UTC

IMF clears $447m for Kenya to address debt, reforms
Highlights
- The International Monetary Fund has agreed to lend Kenya about $447 million to help shore up its finances and boost its dwindling reserves.
- That’s according to a statement from the Washington-based lender released Monday after the executive board completed a review of its loan programs.
- The money includes an augmentation of about $216 million and brings the cumulative disbursements to Kenya under existing arrangements to about $2.4 billion.
Source: Bloomberg
Our Takeaway
Prior to the latest IMF loan, Kenya’s public debt had begun to “level off” due to fiscal consolidation progress. President William Ruto’s government, which took over in September, plans to cut expensive commercial borrowing in favor of cheaper sources like the World Bank to reduce the debt servicing pressure on revenue. In June, the government canceled the planned issuance of a Eurobond due to a surge in bond yields. Kenya’s economy is expected to expand by 5.3% this year.
Mobility solutions provider Zeda Limited lists on JSE
Highlights
- Integrated mobility solutions provider, Zeda Limited, listed its shares on the main board of the Johannesburg Stock Exchange (JSE) on Monday.
- Zeda has long-term license agreements to operate the leading car rental brands Avis and Budget, with a presence in 11 African markets.
- The company is listed on the JSE as the only provider of tailored short-, medium- and long-term car rental and vehicle fleet leasing services from within one service provider. Its listing gives investors an opportunity to add to their portfolios a regional mobility leader.
Source: ABC
Our Takeaway
Zeda’s listing has increased the number of listed companies on the bourse to 305 with an overall market capitalization of over R21.84 trillion (US$1.2 trillion). After the JSE introduced a raft of amendments to its listing regulations to cut red tape and improve efficiency, the bourse has seen a significant increase in the number of issuers that have listed securities such as equities, Exchange Traded Funds (ETFs), and sustainability bonds. Meanwhile, Zeda operates in Botswana, Ghana, Lesotho, Mozambique, Namibia, Zambia, and South Africa, its home market.
Egypt-based healthtech CheckMe acquires DoctorOnline
Highlights
- Egyptian healthtech platform CheckMe has acquired a majority stake in DoctorOnline, a doctor appointment booking app.
- The deal was facilitated through Exists.Me, an acquisitions and mergers (M&A) advisory firm, and brings CheckMe’s valuation to $20 million.
- Founded in 2020, CheckMe provides on-demand medical lab services. Meanwhile, DoctorOnline is a telemedicine platform that enables users to consult doctors via video conferencing or a call.
Source: Wamda
Our Takeaway
The CheckMe-DoctorOnline deal is an indication of the continued growth of healthtech in Africa, especially in telemedicine, r-pharmacy, and e-diagnostic, which have rapidly increased since the outbreak of Covid-19. With the post-pandemic ushering increasing attention to health and physical well-being, and a widespread adaption of healthtech in several sectors, Healthtech companies in the Middle East and North Africa region specifically have reached a combined value of $1.5 billion, a 22x increase since 2016.
This material has been presented for informational and educational purposes only. The views expressed in the articles above are generalized and may not be appropriate for all investors. The information contained in this article should not be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product. There is no guarantee that past performance will recur or result in a positive outcome. Carefully consider your financial situation, including investment objective, time horizon, risk tolerance, and fees prior to making any investment decisions. No level of diversification or asset allocation can ensure profits or guarantee against losses. Articles do not reflect the views of DABA ADVISORS LLC and do not provide investment advice to Daba’s clients. Daba is not engaged in rendering tax, legal or accounting advice. Please consult a qualified professional for this type of service.






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