Author: Joseph Kangethe

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.…

President Muhammadu Buhari said in an interview with Sun Nigeria that he was discontented with electricity in Nigeria.

The All Electricity Consumers Protection Forum expressed the same discontent with the power sector and pointed the slow progress in the power sector to the Nigerian Electricity Regulatory Commission (NERC).

The forum has advised President Buhari to do away with the power regulator in the country, NERC, and move the responsibilities to the Federal Competition and Consumer Protection Commission (FCCPC).…

Airtel Network Kenya, the second biggest telecommunications network, saw shareholder loans from its holding firm, Bharti Airtel Kenya BV, rise by 12.01 per cent from sh46.6 million in 2020 to sh52.2 million in the year ending December 2020.

The causes of the financial losses have been additional lending, forex losses as the shilling depreciate, and postponement in paying interests.
Capitalization interest due to being paid stands at Sh1.34 billion, which has disrupted cash flow in the firm.

Airtel Kenya said that the issued shareholder funds, revenue generated from its operations, and borrowing from external lenders had kept the company afloat.…

Backed up by the capital firm YC, Jabu Technologies has raised $3.2 million in seed funding to invest in its B2B e-commerce and retail operations.
Afore Capital spearheads the seed round with Y Combinator, Quiet Capital, FJ Labs, Pareto Capital, Kli Capital, and angel investors.
The chief executive of JABU, David Akinin, founded the company in 2020 to revamp the poor and almost non-existent distribution network and supply chain in Namibia.…

The main objective of the bloc is to promote economic interdependence and cooperation among member states to raise the living standards and encourage economic development.

Exportation in Mali is already feeling the pressure of the political instability in the country. Exports reduced from CFA552.39 billion in the first quarter of 2021 to CFA495.87 billion in the second quarter.

Mali lists among the poorest nations in the world. According to the 2021 Index of Economic Freedom, absence of property protection rights and a transparent and honest judicial system, and the higher degree of corruption tolerance makes it impossible to achieve greater economic freedom in the country.…

Football fans await the thrill, but what does the competition offer to businesses, football clubs and players, organizers, and the Cameroonian government?

Cameroon has already invested almost US$4 billion in infrastructure. Two new stadia, roads, and modern infrastructure have been built to connect the six stadia that the event will be held. The other four stadia have also been renovated.

The investment has offered short-term employment opportunities to local engineers and labourers, especially the youth, in a country where 40 per cent of the population lives below the poverty line. …

• The construction of the world’s largest heated crude oil pipeline, a 1443km pipeline, has started in Uganda
• The government of Uganda and Tanzania’s administration signed an agreement for the development of EACOP in May 2017, and a foundation stone was installed in August of the same year
• It is estimated to cost approximately $3.5 billion, with equity investors expected to contribute 30% of the cost, while international loans will cover the remaining 70%

The onset of 2022 has given life to the commencement of the world’s largest heated crude oil pipeline, with compensation for land acquisition in Uganda already in progress.

In an EACOP national content supply development workshop in Uganda, Michael Tiffen told Next Media Uganda that early last year, Uganda’s president, Yoweri Museveni, Tanzania’s president, Samia Suluhu, and the two oil companies—TotalEnergies and China National Offshore Oil Corporation (CNOOC)—have agreed to start the construction.

According to Michael Tiffen, …