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• Kenya-Ethiopia trade relations have been on the rise in the past 27 years, with Kenya having the upper hand. 
• Ethiopia, on the other hand, recorded an increase at an annualised rate of 23.7 per cent.
• During the Meeting Kenyan investors also undertook exhibitions showcasing some of their products.

Kenya and Ethiopia have renewed the push to streamline the bottlenecks that are hampering trade growth between the two states. A delegation of the National Assembly to the Kenya-Ethiopia Trade and Investment Mission held in Addis Ababa, Ethiopia, has rooted for the speedy removal of bottlenecks hampering cross-border trade between both Nations.

Kenya and Ethiopia have engaged in bilateral trade across multiple sectors, including agriculture, manufacturing, energy, and services, with the balance of trade hugely in favour of Kenya. In 2022, Kenya exported $95.1M (Sh12.8billion) to Ethiopia, mainly Palm Oil $12.4M (Sh1.7billion), Metal Stoppers $7.95M (Sh1.1billion), and Yeast $6.92M (Sh934million).

This compares …

• There is a debt crisis in Africa as countries struggle to repay international loans. 
• According to the World Bank, nine African countries entered 2024 in debt distress, with another 15 at high risk of distress and 14 more categorised as moderate risk.
• According to the United Nations, Africa’s public debt will stay above pre-pandemic levels in 2024 and 2025.

At 4 per cent, Africa is projected to be the second fastest-growing economic region in the world in 2024,  according to a report by the International Monetary Fund (IMF). However, behind the headline figure is a less optimistic reality.

Many African countries have suffered from slow post-COVID-19 recovery, climate change shocks, worsening food security situation, political instability, weak global growth, and high-interest rates. These economic shocks have pushed over 55 million people into poverty since 2020. The situation is increasingly alarming as more than half of the continent’s countries are in …

• Over 300 startups are converging in Abu Dhabi between May 7th and 9th for three days of innovation, collaboration, and transformative dialogue.
• Key topics on the agenda include the rise of startups in biotechnology, the integration of technology into enterprises for financial resilience, and customer acquisition and retention.
• Seven high-level roundtable meetings are slated to help startup entrepreneurs learn from experts about the latest global investment issues.

AIM Congress, now on its 13th edition, is gearing up to host over 300 startups from diverse fields of innovation and industries, marking a huge milestone for the global showcase in the United Arab Emirates (UAE).

Set to unfold from May 7th to 9th, 2024, at the Abu Dhabi National Exhibition Centre (ADNEC), the event promises a platform for innovative solutions, investment opportunities, strategic partnerships, and knowledge sharing among policymakers and entrepreneurs worldwide. ADNEC, which offers a total area of 153,678 square metres …

• TLcom Capital has raised $154 million  in its second Fund, TIDE Africa II
• With this second fund, TLcom Capital maintains its early-stage, multi-sector focus and expands its mandate beyond Sub-Saharan Africa to Egypt.
• TLcom Capital currently has over $300 million under management.

TLcom Capital, the Africa-focused venture capital firm, announced the final close of TIDE Africa Fund II, its second fund for technology in Africa, at $154 million. Confirming TLcom Capital’s status as Africa’s largest Seed and Series A investor, the new fund accelerates the firm’s mission to partner with elite founders to tackle Africa’s biggest and most complex challenges with innovative solutions that will unlock massive value in the continent’s critical sectors.

At more than twice the size of TLcom Capital’s first fund, TIDE Africa Fund II is oversubscribed and sees participation from several new, high-profile LPs alongside returning LPs from the firm’s first Africa-focused fund, TIDE Africa Fund …

• AfDB asks policymakers to put in place an orderly and predictable way of dealing with Africa’s $824Bn debt pile.
• According to AfDB, Africa’s ballooning external debt reached $824 billion in 2021.
• AfDB president says there is urgent need for increased concessional financing, particularly for low-income countries. 

Africa’s immense economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries’ future growth, African Development Bank (AfDB) President Dr Akinwumi Adesina has said.

Adesina at the Semafor Africa Summit taking place on the sidelines of the International Monetary Fund and World Bank 2024 Spring Meetings, highlighted the challenges posed by Africa’s ballooning external debt, which reached $824 billion in 2021, with countries dedicating 65 per cent of their GDP to servicing these obligations.

He said the continent would pay $74 billion in debt service payments this year alone, a sharp increase from $17 billion in 2010. “I …

• South Korea-based LB Investment, which has $1.2 trillion Assets Under Management (AUM) as of 2023, has announced its participation in the 2024 AIM Congress.
• The firm will showcase a diverse portfolio of startups and companies, representing cutting-edge innovation and disruptive solutions across industries.
• Among the notable entities brought to the forefront by LB Investment are LisMed, Standard Energy Inc., t’order, FITPET, LABLUP, BLUEZONE WIDE, NOTA AI, and ABYSS Company.

LB Investment, a venture capital company with a legacy of fostering innovation and entrepreneurship, and with $1.2 trillion in Assets Under Management (AUM) as of 2023, has announced its participation in the 2024 AIM Congress, scheduled to be held from May 7th to May 9th in Abu Dhabi, United Arab Emirates.

Established in 1996, LB Investment has consistently been recognised as one of South Korea’s premier fund managers, earning accolades such as the A+ grade from the Small and Medium …

• Meg Whitman, US Ambassador to Kenya, highlights key investment opportunities in Kenya, particularly in the creative industry and clean energy.
• She noted that Kenya has the potential to become the Singapore of Africa through vertical business integration, job creation, innovation, and foreign direct investment.
• AmCham Business Summit 2024 seeks to strengthen bilateral trade and investment between the US, Kenya, and East Africa.

The fourth edition of the regional American Chamber of Commerce Kenya (AmCham) Business Summit, has officially kicked off in Nairobi, Kenya, under the theme, ‘Catalyzing The Future of US-East Africa Trade and Investment’.

This year’s forum underscores AmCham Business Summit as the premier platform for strengthening bilateral trade and investment between the United States, Kenya, and East Africa.

Hosted by the American Chamber of Commerce (AmCham), the two-day Summit has brought together delegates from the United States of America, East and Sub-Saharan Africa in efforts to deliberate and …

• UN faults UK-Rwanda asylum treaty citing concerns on potentially harmful impact on global responsibility-sharing, human rights, and refugee protection.
• Spearheaded by Prime Minister Rishi Sunak, the legislation mandates judges to deem Rwanda as a safe third country.
• With deportation flights slated to start in July, the move is sparking weighty debates over the ethical implications of outsourcing asylum responsibilities.

This week’s passage of the “Safety of Rwanda” Bill by the UK Parliament has triggered alarm bells within the United Nations (UN), with two prominent leaders, Filippo Grandi, the UN High Commissioner for Refugees, and Volker Türk, the UN High Commissioner for Human Rights, raising concerns over its potentially harmful impact on global responsibility-sharing, human rights, and refugee protection.

Spearheaded by Prime Minister Rishi Sunak, the legislation mandates judges to deem Rwanda as a safe third country, paving the way for the deportation of thousands of migrants who have sought refuge …

• Namibia’s Mopane field could hold up to 10 billion barrels of oil, Galp announces.
• Tests on Mopane-1X well in January and the Mopane-2X well in March gave highly promising findings.
• Exploration success in Namibia could pave the way for a new revenue stream for Galp.

Portuguese oil company Galp Energia has set the stage for a potential game-changer in the global energy industry with its announcement at the weekend regarding the Mopane field off the coast of Namibia.

Following the conclusion of the first phase of exploration, Galp projects that the Mopane field could hold up to 10 billion barrels of oil, marking a huge step in the evolving oil and gas industry in Namibia.

Gap noted that testing operations were undertaken at the Mopane-1X well in January and the Mopane-2X well in March gave highly promising findings. The company noted the discovery of significant light oil columns in …

• Chronic instability plagues the existing power grids, worsened by the pressing need to connect growing populations.
• The advent of renewable energy sources introduces new complexities, considering the intermittent nature of solar and wind power generation.
• Wärtsilä Energy says deploying battery storage and flexible engine power plants offers a pathway toward reliable grid resilience.

Across economies in Africa, a profound transition is underway. Increasingly, economies are grappling with the dual challenge of meeting burgeoning energy demand while steadily transitioning towards sustainability, a scenario amplifies the importance of economies having reliable power production.

Wärtsilä Energy, a giant power plant manufacturer and energy systems integrator in Africa, is coming forward to offer insights on how economies can easily navigate this transition. Drawing insights from the 2024 North and West Africa Energy Transition Forum in Rabat, it is evident that addressing the complexities of grid reliability and renewable energy integration requires a multipronged approach.…