Month: November 2019

The East African Community (EAC) has acquired an $11 million funding from European Union (EU) to combat insecurity within the regional and cross border spheres.

The funding came to light yesterday in Arusha-Tanzania, whereby it targets to fuel a 45-month programme on regional response to the growing security threats in the bloc with six nations—and with the fastest growing economies in the continent.

EAC secretary general Ambassador Liberat Mfumukeko launched the joint programme with the EU ambassador to Tanzania, Mr Manfredo Fanti. The Ambassador heralded the long-standing partnership between the EAC and EU in peace and security sector which is a key player to the integration process in East Africa.

The programme is rather vital to the bloc’s strategies to propel further their $193 billion combined Gross Domestic Products (GDP), which include importation and exportation of goods and services occurring via borders in the region.

According to The Citizen, the …

a section of African countries unveiled the African Continental Free Trade Agreement (AfCFTA) in March last year.

The agreement, which came into force in May 2019, can revitalize the African economic landscape over time and space, especially with the existing in many African countries.

The AfCTA comprises of 55 countries (with a combination of $2.5 trillion GDP) in Africa to a unified-single market. Despite African countries’ economies variation, still the free trade agreement comes at a greater moment when various regions in the continent, including Southern African Development Community (SADC ) and East Africa Community (EAC) are working to harmonize their economic affairs to boost trade, security, and industrialization.

The current economic and trading landscape

According to the African Development Bank’s (AfDB) African Outlook report of 2019, it showed the continents overall economic performance is gaining decent improvement, as as the GDP reached at an estimate of 3.5 per cent …

Revolutionary pharmaceutical inventory Shelf Life kick-starts in Kenya

Shelf Life, the revolutionary pharmaceutical inventory management subscription service, has been licensed in Kenya by the Pharmacy and Poisons Board. The service, provided by Field Intelligence, is active in 50 retail locations in Kenya, with over 500 life-saving medicines and essential products being supplied on a pay-as-you-sell basis.

In Kenya there are about 5,840 privately-owned community pharmacies licensed by the Pharmacy and Poisons Board, compared to approximately 4,700 government health facilities. According to the company’s research, 60% of community pharmacies frequently stock out of essential medicines and 55% are without access to stable supply and finance.

With Shelf Life pharmacies achieve an average 96% availability on essential products from over 45 therapeutic areas – including medication for hypertension, diabetes and malaria. These improvements in accuracy are thanks to Shelf Life subscriptions, which gives pharmacists access to business insights to forecast and optimize inventory levels.

Pharmacies on Shelf Life sell …

Equatorial Guinea open capital-intensive projects for investment in 2020

Equatorial Guinea capital-intensive projects open for investment in 2020 said Gabriel Obiang, minister for mines and hydrocarbons.

The capital- intensive projects include the construction of three oil refineries, liquefied petroleum gas strategic tanks, a Urea plant and the expansion of a compressed natural gas project.

Obiang said the 10 public-private, partnership-led projects will focus on downstream diversification and adding value to domestic crude production.

“2019 was a year in which we showed the world the potential of Equatorial Guinea. That was phase one. Phase two is the investment year. For many years, we have been exploiting our resources and exporting them, but now is the time that we get to the stage of processing,” he said during the sidelines of an international forum for gas exporting countries in the capital Malabo.

Also Read: Tanzania 3rd Oil and Gas Congress: How Magufuli is opening up Energy Investment

He added that midstream …

African Development Bank Launches AFAWA Risk Sharing Facility

The African Development Bank and partners officially launched Affirmative Finance Action for Women in Africa (AFAWA) Risk Sharing Facility earlier this week at a press conference held during the 2019 Global Gender Summit in Kigali, Rwanda.

The bank’s Affirmative Finance Action for Women in Africa (AFAWA) programme started with significant support from commercial banks and a $1 million commitment from the government of Rwanda.

AFAWA is one of the Bank’s gender-focused programmes which seeks to close the financial gap for women by accelerating growth and employment creation across African economies.

“Today is a great day! With this facility, women will be able to receive technical assistance. We shall strengthen our capacity and we shall get there. The decision that we are taking today is highly transformational. It will permanently transform Africa.” said Akinwumi Adesina, President of the African Development Bank.

The press conference was attended by several heads of commercial

Global Red Cross partners are working to develop community currencies which will help cash-poor regions grow their own economies suing blockchain technology. www.theexchange.africa

Global partners are working to develop community currencies which will help cash-poor regions grow their own economies using blockchain technology.

The blockchain-based community currencies will be developed by an international partnership to supplement direct cash and voucher assistance programs for vulnerable communities in developing countries.

The two-year project will test, develop and distribute eVouchers, or Community Inclusion Currencies, held in mobile wallets on feature phones in some of the poorest areas where the national currency is scarce.

US$1 billion a year distributed by the Red Cross

The initiative will be delivered by the Norwegian Red Cross, Danish Red Cross, and Kenya Red Cross, together with Innovation Norway, Grassroots Economics Foundation and Sempo, an Australia-based technology firm.

The network will aim to improve the efficiency and effectiveness of the $1 billion a year distributed by the Red Cross in cash and voucher assistance programs by 2020.

“We need new financial solutions …

Aga Khan University recognized by UK's Advance HE

The Aga Khan University has become the first higher education institution in South Asia and East Africa to be recognised by Advance HE, a global body that strives to promote excellence in teaching and learning in higher education.
AKU President Firoz Rasul announced the University’s three-year reaccreditation with Advance HE while addressing the inaugural session of the Scholarship of Teaching and Learning Conference in Karachi. Advance HE, based in the United Kingdom, works with higher education institutions across the globe to benchmark teaching quality against the rigorous UK Professional Standards Framework, UKPSF.

The Aga Khan University is a pioneering institution of higher education that works to improve quality of life in the developing world and beyond. The University operates programmes in campuses in Pakistan, Afghanistan, Kenya, Tanzania, Uganda and the United Kingdom, and treats more than 2 million patients per year at seven hospitals and more than 350 medical centres.…

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Kenya’s low-cost carrier Jambojet on Monday made its first trip to Kigali International Airport as it launched scheduled flights between the Rwanda’s capital and Nairobi, bringing competition to RwandAir.

Kenya’s low-cost carrier Jambojet on Monday made its first trip to Kigali International Airport as it launched scheduled flights between the Rwanda’s capital and Nairobi, bringing competition to RwandAir.

With the launch of once daily flights from its Jomo Kenyatta International Airport hub, Jambojet officially becomes the first low-cost carrier to fly the route.

READ ALSO:Jambojet cuts fares by 50 per cent in 72 hour sale offer

This now brings competition to RwandAir’s doorstep which also flies to Nairobi at least three times a day. It operates domestic and international services to East Africa, Central Africa, West Africa, Southern Africa, Europe the Middle East and Asia, from its main base at Kigali International Airport in Kigali.

READ ALSO:RwandAir eyes more presence in New Zealand and Australia

READ:Qatar Airways plans to buy shares from RwandAir

Jambojet which recently expanded their fleet with two brand new De Havilland Dash …