Author: Kang'ethe Njoroge

• The Commonwealth Secretary-General Patricia Scotland KC has called for accelerated action on the climate crisis in light of intensifying threats to small and vulnerable member countries.
• Speaking ahead of the COP28 in Dubai Scotland says there can be no more delays and no  more excuses.
• COP28 comes just months after Commonwealth environment ministers committed to accelerating climate action at their inaugural meeting held alongside the 78th Session of the United Nations General Assembly in New York City.

The Commonwealth Secretary-General, Patricia Scotland KC, has called for accelerated action on the climate crisis in light of intensifying threats to small and vulnerable member countries.

Speaking ahead of the United Nations Climate Change Conference (COP28) in Dubai, Scotland states that there can be no more delays and no more excuses. “The worst predictions of climate change have become a daily reality. In the Commonwealth’s most vulnerable countries, fertile lands are turning to …

• Fintech Verto has partnered with UBA Bank to launch a cross-border payment solution in East Africa, starting with Kenya. 
• Verto’s suite of products, spanning foreign bank accounts, instant currency exchange, and international money transfers, is now accessible to individuals and businesses in Kenya.
• This strategic partnership with UBA Bank marks a pivotal moment for East Africa, positioning the company as a catalyst for overcoming the challenges associated with cross-border trade.

Fintech Verto, a London-based company, has partnered with UBA Bank to launch a cross-border payment platform in East Africa, starting with Kenya.

The platform offers a comprehensive solution, enabling startups, SMEs, and large corporations to effortlessly send, receive, and exchange money in over 190 countries. With the capability to hold funds in Verto accounts across 51 currencies, the platform is a game-changer for businesses seeking global expansion.

Verto’s suite of cutting-edge products

“By aligning with UBA Bank, Verto is strategically …

• The Arab Africa Trade Bridges Program (AATB), a multi-donor, inter-regional program, has signed two agreements aimed at fostering sustainable growth and development on the sidelines of the Intra Africa Trade Fair 2023 in Cairo, Egypt.
• The first agreement aims to harmonize African standards for textiles and leather products, ensuring transformative change in the African Fashion Industry.
• In the second deal, the International Islamic Trade Finance Corporation signed a deal with the International Trade Centre, under the umbrella of the AATB program. This marks the initiation of Phase Two for the transformative “How to Export with the AfCFTA” Program, developed collaboratively with Afreximbank.

The Arab Africa Trade Bridges Program (AATB), a multi-donor, inter-regional program, has signed two agreements aimed at fostering sustainable growth and development on the sidelines of the Intra Africa Trade Fair 2023 in Cairo, Egypt.

The first agreement was signed between the AATB Program Secretary General, Hani Salem, …

• Economic experts have a bearish forecast on the US dollar, citing that it is  likely to “consistently weaken” throughout 2024 as the US Federal Reserve winds up its aggressive stance.  
• The prediction comes despite the ongoing big dollar sell off where asset managers are selling the currency at the fastest pace in a year. 
• This is positive news for emerging and frontier markets, as they can start to see global funds and investors redirect capital back to these markets which have been starved of inflows for months. 

Economic experts are making a bearish forecast against the US dollar, predicting that it is likely to “consistently weaken” throughout 2024 as the US Federal Reserve concludes its aggressive interest rate hiking agenda.

Nigel Green, CEO of the DeVere Group, states that this prediction persists despite the ongoing significant dollar sell-off, where asset managers are selling the currency at the fastest …

• The East African Community (EAC) will approach the upcoming COP 28 Climate Summit, to be held in Dubai from November 30th to December 12th, 2023, as one bloc.
• No country should have to choose between its development aspirations and climate change mitigation; there is a need for complementarity as opposed to competition among Partner States.
• The move comes as the continent faces the most severe challenges, including the ongoing El-Nino floods and drought that have caused havoc due to climate change.

The East African Community has revealed its intention to present a united front at the upcoming COP 28 Climate Summit scheduled to take place in Dubai, the United Arab Emirates, from November 30th to December 12th, 2023.

Addressing participants at the EAC High-Level Forum on Climate Change and Food Security in Arusha, Tanzania, EAC Secretary-General Peter Mathuki emphasized the significance of the EAC having a unified stance as it …

• Bamburi Cement is rolling out plan to lower its net carbon emissions by 40% by 2030 as growing climate change impacts hit the globe. 
• The company announced that it has lowered its carbon emissions by 3.2% and achieved a 5.5% increase in the use of alternative fuels.
• The reduction in the Scope 1 carbon emissions is attributed  to ongoing key initiatives such as use of alternative fuels, the substitution of clinker, renewable energy and optimization of the cement manufacturing process. 

Bamburi Cement Plc has unveiled a strategy to reduce its net carbon emissions by 40 per cent by 2030 in response to the increasing impacts of climate change worldwide.

Speaking during the launch of its 2022 Sustainability Report, the company announced that it has reduced its carbon emissions by 3.2 per cent and achieved a 5.5 per cent increase in the use of alternative fuels in its operations.

Bamburi …

Digital payment platform iPay has joined forces with Visa, a world leader in digital payments, to introduce Visa’s Tap-to-Phone technology to simplify digital payments for merchants and customers.

Dubbed Tap Ulipe, the solution is integrated into a sleek, portable, internet-enabled MobiGo 2 device, comparable in size to modern smartphones. It offers merchants many solutions beyond traditional payments without investing in clunky POS machines. In addition, merchants can also download the Tap to Ulipe app from the Google Play store on their Near-Field-Communication (NFC) enabled smartphones to accept contactless payments.…

An estimated 63 per cent of Kenyan students report using generative AI (GenAI) for their college or university studies—the highest percentage among the countries surveyed globally, surpassing Saudi Arabia and Spain, which both tied at 62 per cent.…

Information Communication Technology (ICT) tops the list of the major skills demanded by Kenyan employers, according to a new report. The new study carried out by the Federation of Kenya Employers (FKE)  indicates information technology tops the list at  28.4 per cent, followed by finance & business management at 27.4 per cent, engineering at 19.2 per cent, transportation, distribution and logistics at 18.6 per cent, and legal 18.2 per cent.…

• Western Africa startups have received the highest funding since 2019 to date according to the latest report by Africa: The Big Deal. 
• The report released on Tuesday indicates that Western Africa startups have received $5.1 billion from 2019 to October 2023. 
• Eastern Africa came in second having received $3 billion in the period under review while Northern Africa followed with $2.5 billion worth of deals. 

Western Africa startups have received the highest funding since 2019 to October 2023, according to the latest report by Africa: The Big Deal. The report, released on Tuesday, indicates that Western African startups have received $5.1 billion from 2019 to October 2023.

Eastern Africa came in second, having received $3 billion in the period under review, while Northern Africa followed with $2.5 billion worth of deals. In East Africa, 84 per cent of all the funding raised since 2019 was raised by startups in …