Author: Joseph Kangethe

Kenya Insights reported that the ship (MT Jag Prarena) docked at the Port of Mombasa on December 30 and was offloaded for nearly three days. Four other vessels that had gone through the legal importation process we kept at bay, incurring approximately Ksh100 million (US$88 million) in demurrage charges.

OMAK said that Gulf had imported the petrol contrary to the petroleum act 2019, with the importation and offloading of the cargo being done outside the Open Tender System (OTS).

The act prohibits private imports of refined petroleum products using state-owned common user facilities.

The Spain energy crisis comes after Algeria cut off natural gas supply through the Gaz-Maghreb-Europe (GME) pipeline.

Algeria President Abdelmadjid Tebboune authorized Sonatrach (state energy firm) to stop gas exports to Spain through the pipeline that transverses through Morocco to Spain, due to tensions with Rabat, accusations that Morocco denied.

The 1400 km GME pipeline has been in operation for over 55 years, delivering billion cubic metres per year to Portugal and Spain.

In the first quarter of 2021, Egypt’s unemployment rate was at 7.4 per cent which marked a 0.1 decrease and a 2.3 per cent decrease during the same period in 2020.

According to CAPMAS, Egypt’s labour force in Q2 was estimated to be 29.115 million individuals in comparison to 29.284 million individuals in the first quarter which was a decrease of 0.6 per cent.

In urban areas, the labour force is estimated to be around 12.981 million persons while in rural areas it is estimated to be 16.134 million persons. The total number of females was recorded as 4.882 million individuals.

According to the World Bank, Egypt has risen to become the richest country in Africa measured by GDP, which stands at US$1.38 trillion Haya Karima, which means Decent Life, is a national project to develop the Egyptian Countryside. The National Project for Developing the Egyptian Countryside is an initiative estimated to cost US$1.1 trillion The Richest Country in Africa The National Project for Developing the Egyptian Countryside is an initiative estimated to cost US$1.11 trillion. This project will impact at least 1,350,366 households. President Abdel Fattah al-Sisi said in January 2021 that the projects would be complete in three years.…

The Crypto market in the world is looking ugly.

The bitcoin price fell to a three-month low on January 10, accelerating the slide that started when the Federal Reserve ignited a broad sell-off worth US$300 billion. The bank cautioned that it might move more quickly than previously expected to reverse policy meant to reinforce the economy during the Coronavirus pandemic.

Experts predict that the latest crypto fall will persist for weeks in the Federal Reserve measures continue to be more aggressive.

In June 2020, South Africa got the trial of marijuana off the ground as part of the six herbs that could effectively fight the COVID-19 pandemic.

A 2020 report by the research firm estimates that the marijuana market will be based majorly in the following five countries.

Market size would generate as follows if the required legislations take effect:  Nigeria (US$3.7 billion), South Africa (US$1.7 billion), Morocco (US$900 million), Lesotho (US$90 million), and Zimbabwe (US$80 million).

In 2018, the global textile industry’s worth stood at approximately $920 billion. The global Textile Market Analysis of 2021 to 2028 anticipates that the market could reach $1,412.5 billion by 2028.

The market drivers include the rise in consumer awareness, e-commerce platforms to support sales, and the fast-changing fashion trends in the industry.

The CEO of Basra Textiles, Ahmed Othmad, said on January 11 that the factory at Chunguni area in Zanzibar was targeting to export to markets across East and Central Africa.

The January 9 agreement comes after election delays following the feud between President Mohamed Abdullahi Mohamed Farmajo and Prime Minister, Mohamed Hussein Roble.

The delays have threatened the stability of the Horn of Africa’s country.

The agreement was reached after several days of talks hosted by the Prime Minister with other state leaders to resolve the country’s political crisis.
Roble issued a declaration that the consultative meeting had agreed on the final day of the parliamentary election as February 25.

In the first six months of the year, Kenya’s food imports had increased to sh103.34 billion. The figures collected by the Kenya Revenue Authority (KRA) showed that the food imports were sh12.35 billion more than the amount spent in the same period in 2020.

According to data from the national treasury, import expenditure increased by 29 per cent in the third quarter of 2021. China is the most significant contributor of Kenyan imports accounting for 31.6 per cent of the total bill from the Asian continent.

This is the fastest growth in the food import bill since a 60 per cent jump recorded in 2016 when the bill stood at sh82.83 billion. The exponential increase has been linked to the growing popularity of digital trading, allowing retailers and consumers to order and ship food and other commodities directly.

Commuter and freight motorbike operators are seeing massive changes to their bottom line due to the energy efficiency of electric bikes.

According to Kenya Broadcasting Corporation news, there are over 27 million users of motorcycles in the country.

Rishi Kohli, the CEO and co-founder of Fika Mobility, says that the electric bikes will save the Boda Boda riders an estimate of US$700 used in maintenance and petrol costs a year.