- Effects of Inflation in Zimbabwe
- Kenya: KCB signs deal to accelerate access of loans to SMEs
- Kenya: Shilling depreciates further in November as dollar demand continues rising
- Ghana, EXIM Bank to establish, expand local organic fertilizer plants
- Zimbabwe Trade seen as a boon to Southern Africa region
- A Stitch in Time: Reviving Africa’s Textile Industry
- Biotechnology, AI to determine future of medicine in Tanzania
- Is Kenya’s Economic Revival around the corner?
Author: Njenga Hakeenah
I have 10 years of experience in multimedia journalism and I use the skills I have gained over this time to meet and ensure goal-surpassing editorial performance. Africa is my business and development on the continent is my heartbeat. Do you have a development story that has to be told? Reach me at [email protected] and we can showcase Africa together.
For Africa, energy security should come first due to the fact that the continent is the least polluter but it bears a disproportionate burden wrought on by climate change impacts. From 1850-2020, according to analysts, Africa’s global emissions contribution have remained below 3 per cent. However, the continent lost about 5– 15 per cent of GDP per capita growth annually from 1986 – 2015.
With the aggressive shift to clean energy, Africa risks even worse human and economic crises due to the multipronged dangers of climate change and the possible displacements caused by mining activities.
Already, climate change-related catastrophes have triggered internal displacement of 2.6 million people going by 2021 estimates. Violence and displacement are some outcomes of climate-related disasters which leaves millions facing acute food shortages and increasing vulnerability. If mining in the DR Congo, and Africa at large, continues as it has for decades, then the displacements, hunger and violence ca only exacerbate.
What globalists call clean energy is oblivious to what the cost is to Africa which is the source of all the materials needed for this clean energy shift.
Mozambique may, however, be offered a lifeline. In its recent position on CBAM, the European Parliament has proposed an amendment to the CBAM legislation through which revenues generated by the CBAM levy could be used to finance least developed countries’ efforts towards the decarbonisation of their manufacturing industries.
If accepted, the funding could be applied to support the implementation of a green industrialization process in the country fuelled by accelerated investments in Mozambique’s unique renewable energy assets.
The trialogues between the European Parliament, the Commission, and the Council on the design and implementation of the CBAM are expected to continue in the coming weeks, which will lead to a decision on the final form of the CBAM. The result of these discussions will show to what extent the EU will walk the talk on realizing a green transition that “leaves no one behind” and ensures that it supports countries like Mozambique to make the just transition away from fossil fuels and carbon-intensive activities.
The Kenya-South Africa visa deal will take effect on January 1.
At the time of the announcement, South African President Cyril Ramaphosa was in Kenya for his first official trip to the country at the invitation of President Ruto.
Ramaphosa said they discussed the visas issue between Kenya and South Africa to allow Kenyans to visit the Southern African nation visa-free basis.
“This will officially start on January 1, 2023, and it will be available to Kenyans for a 90-day period per year,” he said.
In addition, the Kenyan and South African leaders directed their respective trade ministers to work on removing barriers limiting trade between the two African countries. The two countries are also working to address trade barriers to increase business and trade cooperation.
Speaking on the first day of COP27 in Egypt, Dr. Adesina said the funding would strengthen collective efforts to build climate resilience for African countries which are suffering from increasing frequencies of droughts, floods and cyclones that are devastating economies in Africa.
The Glasgow Climate Pact included a commitment from donors to double adaptation finance in 2025 from 2019 levels. Earlier, Sunak announced that the UK will surpass that target and triple adaptation funding from £500 million in 2019 to £1.5 billion in 2025. The funding package provided to AfDB will be part of this commitment.
The Netherlands has also announced that it will contribute to the CAW alongside the UK funding. The Foreign Secretary has called on other countries to contribute over the coming months.
Sunak also confirmed during the COP27 in Egypt that the UK is delivering the target of spending £11.6 billion on International Climate Finance (ICF) alongside the new and expanded solar and geothermal power plants in Kenya, Nairobi’s ground-breaking Railway City and a major public-private partnership on the Grand Falls Dam hydropower project – including a US$3 billion investment led by UK firm GBM Engineering.
Data Centres for example have seen their market supply increase to approximately 10 MW. Interestingly, over 80 per cent of this stock has come up over the past 5 years, with the development pipeline looking even more promising at approximately 470 per cent of total stock.
The industrial sector, too, continues to be one of Nairobi’s leading real estate market sectors. Developers’ interest matched with occupiers’ demand especially in the SMEs, agricultural and FMCG sectors means that there are unlimited opportunities in the market for investors.
With only 11 per cent of the total stock estimated at 17 million sq. ft under development, the market remains largely undersupplied especially with regards to purpose-built warehousing. As such, investors are increasingly exploring the space with private equity or investor-operator type models. Quite notably, over 80 per cent of the projects in the pipeline tracked by Estate Intel are already under construction, while the others remain conceptual.
On the other hand, traditional sectors such as the office sector are currently oversupplied.
Ethiopia is one of the richest countries in Africa and even though it cannot match up to the Democratic Republic of Congo in terms of natural resources wealth, the HoA country has abundant deposits of minerals which include gold, platinum, copper, potash and natural gas, and gas. Despite these resources, mining remains a small contributor to the country’s economy. The country also boasts of a vast land mass of an estimated 1.112 million km², almost twice the size of Texas, in addition to a burgeoning population of 113.5 million inhabitants by 2022 estimates.
In terms of natural resources, 2014 estimates showed that the country’s iron ore deposits were at more than 70 million tonnes with major deposits in Amhara, Oromia and Tigray regions, according to the Geological Survey of Ethiopia. This figure is not conclusive.
Ethiopia also produces about 300,000 tonnes of mined and marine salt annually. In addition, Ethiopia has potash deposits estimated at one million tonnes per year.
The country also enjoys the Blue Nile waters where it uses one percent of its estimated annual surface water of 110 billion cubic metres for irrigation and hydropower. The Blue Nile was used to fill the Grand Ethiopian Renaissance Dam (GERD), a project that was greatly opposed by Egypt and Sudan. Ironically, the US was backing Egypt on this despite its so-called ‘friendly partner’ claim on Ethiopia.
With the announcement that Kenya was approving GMOs after a decade, Tanzania’s Agriculture minister was quick to announce that they would not allow any contamination of their agricultural inputs and produce by their neighbour.
This effectively means that Kenya cannot export her produce to Tanzania which could bring about a diplomatic tiff that could hamper trade between the two countries. It is with this development then that we ask, does Africa need GMO technology? Has the continent exhausted all avenues towards food security that the only remaining one to utilise is GMO tech?
Could the move be corporate engineered laying the ground to capture and monopolise food systems in Kenya, and Africa? Who are the beneficiaries of this decision? What are the effects of GMOs to human health and the environment – short term and long term?
The transaction meant that Spire Bank’s deposit and loan customers would enjoy uninterrupted access to Equity Bank Kenya’s banking services.
After signing the agreement, Spire Bank Board Chairman William Rahedi said that the completion of the transaction would ensure that deposit and loan customers continued enjoying uninterrupted access to banking services through Equity Bank.
Mwalimu National Sacco Chairman Joel Gachari said that once the proposed transaction is completed on November 30, 2022, all Spire Bank depositors will become Equity Bank Kenya’s customers.
Dangote uses lower pricing to grow its market share, but Kenyans have had to wait longer for this to happen.
However, Dangote was a surprise attendee at William Ruto’s inauguration as Kenya’s fifth president. This revived talks among Kenyans that he probably would now be able to jumpstart his investment plans in Kenya and have the cement plants going.
Ruto and Dangote met in March 2014 when the then Deputy President visited the Obajana plant of Dangote Cement in Kogi State, Nigeria. At the time, Kenya intended to fast-track licensing for Dangote Cement in the country to boost job creation opportunities for Kenyans.
Dangote’s attendance was thus a reminder and probably a harbinger of what is to come in the cement production sector in Kenya.
True to his word, the Independent Electoral and Boundaries Commission (IEBC) Chair Wafula Chebukati has emerged victorious from an all-front attack on the commission he chairs and where his mandate was to announce Kenya’s fifth president.
On Tuesday, August 9, 2022, Kenyans held national elections in a voting system that closely mirrored the Bitcoin blockchain. This technology has saved Kenya from what is usual in many African elections- massive vote rigging.
Despite Raila Odinga, one of the contenders disputing the election results, observers from within and outside Kenya were pleased with the process.
East Africa’s investment hub’s democracy has grown, and most African countries now look to Kenya for governance models. Women leadership was a major focus of the recently concluded exercise.