Author: James Ndwaru

• The Senegal 2050 plan seeks to address the economy’s weaknesses and position the West African nation as a diversified and dynamic economy in the coming decades.
• At the heart of the Senegal 2050 plan is a commitment to green energy and infrastructure advancement.
• The strategy encompasses substantial enhancements in healthcare, guaranteeing that a healthier populace boosts productivity and innovation.

Over the last decade, Senegal’s economy has remained strong, supported by major sectors, including agriculture, mining, and services. The country’s GDP growth has remained consistently strong compared to regional averages.

Infrastructure projects, enhanced business regulations, and robust regional trade connections are among the pillars contributing to Senegal’s stable GDP. As a member of the West African Economic and Monetary Union (WAEMU), Senegal also benefits from a stable currency hedged to the euro, which helps control inflation and provides a reliable investment environment.

Like many African countries, Senegal grapples with …

• A broken pipeline in South Sudan has thrown its capital, Juba into a state of turmoil.
• The pipeline in question is essential for the transportation of both crude oil and refined petroleum products.
• The economic implications of the pipeline failure are profound.

South Sudan, afflicted by civil war, famine, and natural disasters, secured its independence from its northern neighbor, Sudan, over a decade ago. However, pervasive corruption and a violent kleptocratic system have fueled ongoing conflicts, and mass atrocities have impeded its progress on the global stage.

In recent weeks, Juba, the capital of South Sudan, has been thrust into a state of turmoil following the failure of a critical pipeline that serves as a lifeline for the city.

The broken infrastructure, which until recently carried more than 150,000 barrels of crude oil to the Red Sea coastline in Sudan, ceased operations in February following a blockage resulting from …

• Flour Mills of Nigeria Plc plans to invest up to $1 billion over the next four years in an expansion and restructuring drive.
• The investment is a welcome boost to President Bola Tinubu’s reform efforts.
• Flour Mills will invest at least $500 million in its sugar operations in Niger state to scale production to more than 400,000 tons a year from the current 1000 tons.

Flour Mills of Nigeria expansion

Flour Mills of Nigeria Plc, the country’s biggest milling company, plans to invest up to $1 billion over the next four years in an expansion and restructuring drive after its majority shareholder offered to privatize it.

This significant funding will focus on boosting production capacity and exploring new markets across Africa while leveraging the African Continental Free Trade Area (AfCFTA). According to the company’s Chairman, John Coumantaros, this new funding is about doubling investment in Nigeria.

The investment is a …

• The protests, dubbed “occupy parliament,” were coordinated and mobilised on social media in contrast to those led and sponsored by politicians.
• Many were demonstrating for the first time and waved signs such as “Do Not Force the Taxes on Us,” while others chanted: “Ruto must go.”
• Unlike previous political anti-government protests, these demonstrations are not characterised by looting, destruction of property, or stone-throwing.

Social media as a weapon

A bold new generation of young Kenyan protesters has emerged on the streets, forcing the government to back down on several unpopular tax proposals.

What started as anger on TikTok about a controversial finance bill has morphed into a revolt without being organised by political parties.

The government of President William Ruto has managed to do what generations of politicians in the East African nation still need to do unite huge numbers of Kenyans beyond ethnicity and party.

On 18th June 2024, …

• SME loan products offer a considerably low interest rate, which helps fund businesses.
• Pezesha is a financing platform for small and medium-scale enterprises (SMEs) that enables them to access affordable credit and other financial services through embedded finance infrastructure.
• Safaricom has partnered with Pezesha, a digital lender, to credit small business owners, adding to the telco’s existing loan products.

Pezesha loan products

Pezesha is a financing platform for small and medium-scale enterprises (SMEs) that enables them to access affordable credit and other financial services through embedded finance infrastructure.

Pezesha has created an integrated digital financial infrastructure whose mission is to lead platforms and marketplaces where small and medium-sized businesses work through a collaborative approach. Financial institutions or networks connect on this platform and are matched with quality SMEs, driving meaningful financial inclusion and reducing any inequalities in access to formal financial services.

In 2023, Pezesha partnered with FSD Kenya to …

• The finance bill aroused many wounds in many Kenyans, leading to protests in the capital city, Nairobi, over the burden of proposed taxes in the finance bill 2024
• Azimio insists that the tax measures will substantially impact both individuals and businesses in the country.
• The National Assembly Committee on Finance, chaired by Molo Mp Kimani Kuria, is expected to table a report on the Bill after carrying out a public participation exercise.

The protests over the Finance Bill

The finance bill aroused many wounds in many Kenyans, leading to protests in the capital city, Nairobi, over the burden of proposed taxes in the finance bill 2024. The protest, dubbed ” Occupy Parliament” demonstrations, aimed to pressure the lawmakers not to pass the bill.

The Finance Bill 2024 has been opposed over some contentious proposals, including a 16 per cent VAT tax on bread, a 2.5 per cent motor vehicle circulation …

• The World Bank has approved a $2.25 billion loan for Nigeria to shore up revenue and support economic reforms.
• $1.5 billion of the loan will help protect millions who have faced growing poverty since a year ago.
• $750 million, the bank said, will support tax reforms and revenue and safeguard oil revenues threatened with limited production caused by chronic theft.

Nigerian President Tinubu’s economic reforms, including ending decades-long but costly fuel subsidies and unifying the multiple exchange rates have resulted in surging inflation that is at a 28-year high.

Under growing pressure from citizens and workers protesting the hardship, Tinubu’s government said that it was seeking the loan to support its long-term economic plans.

The government said it was also taking steps to boost foreign investment inflows which fell by 26.7 per cent from US$5.3 billion in 2022 to US$3.9 billion in 2023, according to the Nigerian Economic Summit Group …

• Tax reforms proposed in the bill have aroused concerns due to their potential to increase costs and financial burdens across the board.
• A positive proposal in the Bill for the housing sector is the removal of the excise duty rate on cement clinkers.
• Some of the Finance Bill proposals highlighted reflect the government’s attempts to promote affordability, stimulate construction, and streamline property transactions in the housing sector.

The Finance Bill 2024 has become the focal point of discussions across Kenya, capturing the attention of individuals and businesses alike. This widespread interest stems from the significant and far-reaching impact the proposed bill could have on various sectors and the daily lives of Kenyans. 

The comprehensive tax reforms proposed in the bill have aroused concerns due to their potential to increase costs and financial burdens across the board. With the prospect of higher taxes on fuel, motor vehicles, and digital services, many …

• Africa homes about 30 per cent of the world’s mineral reserves, including 40 per cent of the world’s gold, 60 per cent of its cobalt, and 80 per cent of the platinum group metals.
• Mineral resources are a critical source of revenue for Africa.
• The interest in renewable energies in the mining industry arises from the escalating energy demand within the sector.

Mining in Africa faces ongoing challenges due to environmental degradation and social conflicts with local communities. Deforestation, land degradation, and air pollution are persistent issues linked to mining activities. However, effective prevention and mitigation measures can alleviate these impacts.

Africa’s mineral wealth is staggering. The continent homes about 30 per cent of the world’s mineral reserves, including 40 per cent of the world’s gold, 60 per cent of its cobalt, and 80 per cent of the platinum group metals. The Democratic Republic of Congo (DRC), for instance, with …

• Smart cities are emerging as a critical solution to address the rapid urbanisation and infrastructure challenges facing African cities.
• Smart cities in Africa focus on infrastructure development to enhance connectivity, mobility, and accessibility.
• The limitations in human resources, organisational capacity, and rigid bureaucracy are significant obstacles to adapting to the demands of digital transformation and smart cities in Africa.

Smart cities in Africa

Smart cities are emerging as a critical solution to address the rapid urbanisation and infrastructure challenges facing African cities.

Smart cities agenda in Africa strive to ensure inclusive and equitable development by addressing social inequalities and providing all residents equal access to opportunities and services. This includes affordable housing programs, social safety nets, and community development initiatives to improve living standards and reduce poverty in urban areas.

Smart city projects also prioritise accessibility and universal design principles to ensure that infrastructure and services are accessible to people …