Author: Jack Oduor

• Kenya looks to rise on its estimated $38.4 million blue economy investments to grow sector revenue to $921 million annually. 
• Africa, with its vast coastline and rich marine resources, is poised to harness the immense potential of the blue economy.
• BlueInvest Africa is a business-to-business event that aims to catalyse the growth of Africa’s blue economy through strategic investments.

The Kenyan government is looking to ride on its estimated $38.4 million (KES 5 billion) investments in the blue economy initiatives to increase revenue to $921 million (KES 120 billion) annually.

This will be a threefold increase from the current $288.6 million (KES 37.6 billion) that the state generates from the blue economy.

The Cabinet Secretary in the Ministry of Mining, Blue Economy & Maritime Affairs, Salim Mvurya, said that part of the plan was to map the fisheries’ infrastructure across the country.

“We want to increase the revenue to Sh120 …

• The partnership will enable Kenya and South Korea to strengthen legal services and networks for African companies.
• G&A has built a strong reputation in Africa, delivering on transformational projects like the recent Eurobond
• In February last year, the two countries pledged to continue to nurture and expand ties

A law firm in Nairobi is championing a plan to see Kenya and South Korea strengthen legal services for companies in Africa. Kenya’s G&A Advocates LLP has signed a partnership agreement with South Korea-based law firm Jipyong ahead of the Korea-African Summit. The partnership will enable Kenya and South Korea to strengthen legal services and networks for African companies.

The Korean African Summit is set to take place between June 4 and June 5 in Seoul, South Korea, under the theme: “The Future We Make Together, Shared Growth, Sustainability and Solidarity.”

The summit, which will be the first-ever, aims to strengthen the …

• EAPI Retail Forum will take place on the event’s second day on 17 and 18 April 2024 in Nairobi.
• Rising consumer demand has led to the development of strong local retail brands.
• Key speakers at the EAPI Retail Forum say a growing middle class and the rise of digital connectivity are boosting the retail sector.

Retail is emerging among the most vibrant sectors of the East African economy. Kenya’s capital city, Nairobi, has become an important retail market in its own right and a stepping stone into the rest of the country and wider East Africa.

Nairobi is a rising regional shopping destination, the headquarters to many regional retail and food and beverage (F&B) businesses, and a Launchpad for retail concepts in other East African areas.

Digitally savvy middle-class Kenyans are demanding local brand experiences that align with what they see regionally, continental, and internationally and are boosting the retail …

• African Airlines revenues for January 2024 were $ 1.83 billion compared to $1.56 billion in November 2023
• Available seats per kilometre (ASKs) also exceeded the level of March 2019 by 7.7 per cent.
• Open skies will boost intra-African connectivity and drive down airfares.

Investments among the continent’s carriers have begun to pay off as African Airlines Revenues and seat numbers hit a record high, a new report by African Airline Association (AFRAA) has shown.

The number of airline seats offered in the region has increased by 12.6 per cent to 16.1 million in March 2024, thanks to new routes and flight frequencies.

For the first time in four years, the industry surpassed pre-COVID-19 monthly figures of 14.3 million, recorded in March 2019.

The year 2024 is shaping up to be a significant year of recovery for the aviation industry. Airlines have regained their pre-Covid levels of capacity and traffic and …

• TikTok’s Safer Together Workshops have attracted 116,355 attendees. 
• The social media platform has in the recent past had issues over safety in Kenya and around the world.
• According to TikTok, the initiative will involve availing educative videos on digital and internet safety on the platform.

Kenyan youth have joined TikTok’s Global Youth Council to engage with TikTok CEO Shou Chew on matters of digital safety as the video sharing app faces mounting pressure from governments across the world.

This collaboration comes as part of the social platforms ongoing efforts, in partnership with Eveminet, to promote a safer online environment through TikTok’s Safer Together Workshops. The trainings come amidst measures by some countries, including Kenya, that ban the use of the platform on government issued devices due to data safety concerns.

The TikTok’s Safer Together Workshops were officially launched in October 2023 with the goal of creating a safe and empowering …

• Kenyan businesses in the hospitality and tourism sector are the most confident they will post growth in Q2
• Businesses in the energy sector are also optimistic of better Q2 despite challenges in the first quarter.
• The education sector reflects a balanced sentiment, with 33 per cent expressing extreme, moderate, and slight confidence in revenue growth.

Kenyan businesses in the hospitality and tourism sector are the most confident that they will grow their revenues in the second quarter of 2024 according to a new survey by Kenya National Chamber of Commerce and Industry (KNCCI).

Compared to other sectors, the hospitality and tourism sector exhibits a stronger sense of optimism, with 41 per cent extremely confident, 29 per cent moderately confident, 18 per cent slightly confident, and 12 per cent not confident of increasing their revenues.

In the agriculture sector, results indicate a mixed outlook, with 17 per cent of Kenyan businesses …

• New hotel room developments in Kenya have dropped.
• With continued signing activity (19 hotels with about 5,200 rooms in 2023) Egypt now accounts for 28 per cent of the total pipeline.
• When it comes to hotels under construction, Marriott International leads the way, with 138 hotels (15,011 rooms) currently being built.

Kenya has ranked seventh in Africa among the countries with the highest number of hotel room developments by international hotel chains, a drop from position five in 2022.

This is according to the latest survey by Lagos-based W Hospitality Group, in association with the Africa Hospitality Investment Forum (AHIF). From the survey, Kenya has 31 hotels with a total of 4,268 rooms on the pipeline with an average room size in these hotels is approximately 138 square feet.

North Africa continues to dominate the planned supply, with Morocco and Egypt together comprising almost 31 per cent of the …

• China Henan International Cooperation failed to to disclose the use of a commission agent while submitting a bid.
• The ban on Chinese firm reflects broader concerns about the nature of China-Africa economic relations.
• The move follows the conclusion of a negotiated settlement agreement with the Chinese company.

The African Development Bank (AfDB) has suspended Chinese firm, China Henan International Cooperation Group Company Limited, from undertaking any contracts in Africa for the next one year.

The move follows the conclusion of a negotiated settlement agreement with the Chinese company putting an end to sanctions proceedings for a fraudulent practice against China Henan International Cooperation.

In the directive, pursuant to the negotiated settlement agreement, China Henan International Cooperation Group Company Limited, registered in China, will be debarred for a period of 12 months, effective 28 March 2024.

“An investigation conducted by the Office of Integrity and Anti-Corruption of the African Development Bank …

• The civil society has opposed Somalia plan to reduce Adult Age to 15 
• Under Somalia’s provisional constitution, a child is defined as a person under the age of 18.
• he proposed amendments also include physical development as the determining factor in a person’s majority.

Somalia’s parliament should reject any proposed constitutional amendments that would weaken rights protections for children, Human Rights Watch has said.

On March 30, 2024, both houses of parliament are expected to vote on the proposed amendments, which would reduce the age of majority – increasing the risk of child marriage and lowered juvenile justice standards – and possibly permit certain forms of female genital mutilation.…

• According to an Economist Intelligence Unit (EIU) report, Kenya is among the best places for doing business globally.
• Venezuela has been ranked as the worst country in which to do business.
• Qatar has implemented a $220 billion investment program over the past decade, mainly focused on infrastructure.

Kenya has been ranked among the places with a weak business environment. Still, it has the potential for improvement over the next five years. According to a report by the Economist Intelligence Unit (EIU), it is among the best business places, a global business intelligence & market insights company.

Kenya and Angola were the only African …