Author: Kimani Chege

Mauritius based Tembo Power a limited liability company developing power generation projects across sub-Saharan Africa has reached out to South Africa based PE financier Metier for the construction of Kaptis project, a 14.7 MW run of a river hydropower project in Kenya. This agreement now allows the partners to appoint lenders and prepare for financial closing, expected this year, and to start construction. “Tembo Power is delighted to partner with Metier, a reputable and experienced infrastructure fund manager in Sub-Saharan Africa, supported by the main development finance institutions active in the renewable energy field, ” noted Raphael Khalifa, Founder, Tembo…

The East Africa Tea Trade Association, the organization that runs the famed Mombasa tea auction has announced that it was postponing indefinitely the planned auction of regional teas, sending the industry into chaos. With the suspension, 600,000 small-scale farmers and employees. of factories across the region will not be processing tea leaves unless those destined for alternative markets rather than the Mombasa auction. The postponement comes amid reports that key buyers have failed to turn up for trade at the auction resulting in massive price drops. “Further developments have come to light with respect to the spread of COVID-19 virus.…

Infections in Africa have been steadily rising after initial indications had shown the continent was not affected by Coronavirus compared to other regions. What started with a few cases in Nigeria and Egypt has risen to over 500 cases and a dozen deaths. Now, the World Health Organisation (WHO) says there could be more cases that what is officially documented. The explanation according to Ethiopian born and head of WHO is that the tests being conducted by the local governments are not as robust. “I think Africa should wake up. My continent should wake up,” said WHO chief Tedros Adhanom…

When President Uhuru Kenyatta stepped out on his Harambee house offices to announce the measures to curb the spread of Novel Coronavirus, no one knew the effect it would have on the East African citizens. In his announcement, the President gave an allowance of 48 hours for non-Kenyans to arrive and be quarantined after which none will be allowed. While the rules of engagement for a trade block like East African Community has been to allow the free movement of people, goods, and services, Coronavirus has stepped to challenge this notion, with most countries viciously guarding their borders against foreign…

Economists define a recession as a subdued growth that lasts at least six months and goes for another 18 months while depression can last up to a decade. The global economy was already heading to a recession even before the outbreak and spread of COVID-19. What has followed is global market players and governments pumping millions of dollars to contain the spread of the virus that has Wuhan city and its epicenter. The US and Europe have already announced setting up of special kitty to treat, contain and mitigate the effects of the virus both as a disease as well…

For Tullow Oil, the year 2020 has not started particularly well with collapsing hopes, poor oil output and boardroom maneuvers almost pushing the British oil firm into oblivion. In the peak of the storm, the company lost half its value on the stock market after bad fairing in Ghana and Guyana and a delay in the sale of the Ugandan stake. This led to global readjustment with the Kenyan operations announcing job cuts. This is a situation well explained by Dorothy Thompson, Executive Chair, Tullow Oil plc.  “This has been an intense period for Tullow as we have worked hard…

Shelf Life is a revolutionary pharmaceutical inventory management subscription service launched in Abuja in 2017 and has expanded to Kenya. Within that time, through their business model of supplying pharmaceutical products to community-based outlets, it has received widespread acceptance. The service, provided by social enterprise Field Intelligence, is active in 50 retail locations in Kenya, with over 500 life-saving medicines and essential products being supplied on a pay-as-you-sell basis. In Kenya, there are about 5,840 privately-owned community pharmacies licensed by the Pharmacy and Poisons Board, compared to approximately 4,700 government health facilities. With the concept gaining popularity, Field Intelligence has…

Anastacia Mukami sells fruits and vegetables at the Kiambu town market, a few kilometers north of Nairobi, Kenya’s capital. Within a month, the price of cloves of garlic has almost doubled, currently selling at 35 shillings up from 15 shillings. This, she says has led to a reduction in the number of cloves she sells in a day as the supply from China becomes more scarce. Just like the rest of the world, Kenya is reliant on garlic shipped from China, and with the Asian giant facing near lockdown, the supply to traders like Mukami is dwindling and the economic…

The Kenyan retail market has not been very kind for foreign investors. Botswana’s Choppies Supermarket came with a promise of adding a sparkle to an industry that was adapting to the advent of online shopping in Kenya. At that time, Nakumatt Supermarket- the most profitable and successful store in East Africa was in deathbed and the sector was looking for the new supremo. It did not go so well for the South African retailer and it has been riddled with debts and poor sales. Another South African outfit, Game has struggled to make an impact with just a few stores.…

The first quarter of 2020 has had mixed results for the economies of East Africa. The weather, a key determinant of inflation rates, has been good. Forex rates have remained stable in the region as a balance between dollar demands and diaspora remittance has been easily reached. Eastern Africa is one of the regions in Africa with the highest growth rate and this has remained so in the first two months of the year, with Ethiopia and Rwanda still in the driver’s seat. In terms of foreign direct investments, Kenya and Ethiopia are still the leading pack, with Kenya receiving…