JP Morgan boss is coming to Kenya

🏦 CEO of world’s largest bank plans trip to Kenya

$3.8Trillion+ USD is the total assets of JP Morgan, the world’s largest bank. Its CEO Jamie Dimon has just announced his first trip to the African continent in seven years, stopping in Kenya, South Africa, Nigeria, and Ivory Coast. This tour comes amidst JPM accelerating its growth plans across Africa. In 2023, the bank announced that it was opening an office in GTC Office Tower to oversee its East African operations however, despite the office’s inauguration, the bank is still yet to receive a license from the CBK. Dimon’s upcoming visit is expected to include high-level meetings with Kenyan government officials, where the license issue is likely to be a key topic of discussion. There’s more to the story.

✈️ IMF completes another visit to Kenya

After 6-days in the country holding talks with government officials, the IMF is headed back home. The discussions reportedly focused on recent developments and policies to manage emerging challenges in Kenya’s macroeconomy. The visit comes after deadly protests shortchanged the government’s ambitious tax hikes plan, leaving the country with a bigger deficit and delaying the disbursement of IMF funding. While these visits usually receive major media coverage, IMF officials visit Kenya every 6 months before it releases various tranches of funding. Learn more about the visit.

😭 Tupperware files for bankruptcy

Everyone’s favorite plastic container company has just filed for bankruptcy. The iconic brand founded in 1942 which popularized practical food storage solutions globally has been struggling for years with dwindling sales and a falling share price. Bankruptcy doesn’t mean the company is going away, it means that the company will have the opportunity to restructure its finances and business model as it works to renegotiate its more than $700M USD debt with creditors. Dive deeper into the story.

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