Browsing: President William Ruto

President William Ruto and his South African counterpart Cyril Ramaphosa at a trade exhibition in Nairobi on November 9, 2022. The Kenya and South Africa visa deal will take effect on January 1, 2023. www.theexchange.africa

Kenya and South Africa, some of the two strongest economies on the African continent, have agreed to reduce barriers to cross-border movement by allowing visa free travel between them.

The pact agreed upon by Kenya’s President William Ruto and his South African counterpart on November 9, 2022, will resolve a long-standing visa dispute between the two countries. With the formalisation, Kenyans will, from January 2023, be eligible for visa free travel to South Africa for up to three months (90 days) in a calendar year.

Already, South Africans get free visas on arrival in the East African nation, a gesture Kenyans have wanted to be reciprocated for a long time. For Kenyans travelling to South Africa, they were required to pay US$40 for the visa while they also had to provide proof they had sufficient funds and had booked return flight tickets.

Read: Era of the African Passport: A mixed

COP27 in Egypt is currently underway in Sharm-el-Sheik under the theme: Delivering for people and the planet.

Africa is not holding its breath waiting for funding from the latest power games showcase COP27 in Egypt, held at the exclusive Egyptian resort town between the Sinai Peninsula desert and the Red Sea. The resort town is known for its clear waters, sheltered sandy beaches and coral reefs.

For decades, Africa has been experiencing worsening climate change effects and this year it is no different. Despite the event being held in Africa, it is not clear how the continent will benefit from the high-level event that attracts the creme-de-la-creme of the world’s leadership and globalists. The evidence is clear for anyone who cares to see. Whether by design or accident, holding this annual meet that is losing its lustre every consecutive year proves that it is an event for the deep-pocketed and …

The sustainability of Kenya's debt remains a significant concern not only for authorities but also for the populace, financial institutions, and other key stakeholders.

  • Kenya’s economy has recovered significantly under challenging circumstances amid a global economic downturn and is anticipated to grow by 5.7 per cent in 2022.
  • Despite significant setbacks, Kenya’s structural reform strategy, which focuses on enhancing governance, has progressed.
  • According to the Central Bank of Kenya, 57 cents of every dollar spent by taxpayers goes towards the country’s growing debt.

Economic recovery and growth 

Kenya’s economy has recovered significantly amid a global economic downturn and is anticipated to grow by 5.7 per cent in 2022. In June, inflation surpassed the Central Bank of Kenya’s (CBK) statutory target range of 2.5 to 7.5 per cent. It is predicted to peak this year before falling back into the band in early 2023.

In the short term, downside risks prevail.…

Addressing the rising inflation in Africa while supporting economic growth and cushioning the vulnerable against economic shocks requires an urgent but careful approach.

  • Multiple shocks have gripped a world economy already ravaged by the pandemic.
  • Sub-Saharan Africa has been facing one of the most difficult economic circumstances recently, with the pandemic’s delayed recovery, soaring energy and food prices, and increased public debt levels.
  • Central banks have already started raising interest rates in response to rising inflation in Africa, capital outflows, and currency devaluation caused by tighter monetary policy in industrialized countries.

A gloomy and an uncertain global economic outlook

Gloomy signs of progress in 2022 highlight a tentative global economic recovery in 2021 as risks started to manifest. Global production fell in the second quarter due to slowdowns in Russia and China. The United States (US) consumer spending also fell short of expectations.

Multiple shocks have gripped a world economy …

In 2017, Africa’s richest man Aliko Dangote, registered two companies in Kenya planning to produce cement in Nairobi and Mombasa.

The companies where Dangote was to own 90 per cent, with 10 per cent owned by some “local shareholders”, were Dangote Cement Kenya Limited which was focused on cement production, while Dangote Quarries Kenya Limited would deal with limestone mining.

At the time, a Chinese company had reportedly signed a US$1.487 billion deal with Nigeria’s cement behemoth Dangote Group to build cement plants in several African countries, including Kenya.

Dangote had for long stated his intention to establish a plant in Kenya and had already been given the nod to prospect for limestone in Kanziku-Simisi in Kitui South sub-county by the county government.

With the demand for cement hitting an all-time high across the continent, Dangote was also planning to open a cement factory in Tanzania.

Other plants to …