Author: Maingi Gichuku

• The rise of 63 billion shillings in dollar deposits, equivalent to 2.1 billion shillings daily
• wealthy individuals and large corporations looked for a secure location to store their riches in the wake of the uncertainties surrounding the elections
• The United States Federal Reserve increased interest rates by 0.75 percentage points for a second straight time in July to combat inflation, which contributed to a stronger dollar and a decline in the value of the Kenyan shilling

A record number of wealthy individuals and businesses moved a total of Sh63 billion more into dollar accounts during the month of June as they sought to secure the value of their investments in advance of this week’s elections.

As per data provided by the Central Bank of Kenya (CBK), the total value of foreign currency bank deposits in Kenya reached a new all-time high of Sh891.5 billion in June, up from Sh829.50 …

Hello Pay provides a range of loan amounts, from R30,000 up to R250,000. In addition, the Hello loans’ interest rates are among the industry’s most reasonable rates. Anyone interested in expanding their company is eligible to apply for a loan; Muslim business owners are not the only ones who can do so. The loan can be repaid by the proprietors of the business over a period of up to a year.

“We provide entrepreneurs with the assistance they require to grow into profitable and sustainable enterprises.” Given the enormous challenges that SMEs face, Hello Pay is delighted to play a role in connecting thousands of meriting business owners with solid financial services so that they can focus on running their businesses and providing necessary goods and services to millions of South Africans” Miya explains.

According to Miya, the primary duty of recovering the economy and producing millions of new jobs …

• The US$3.7m extension brings the total raised by the insurtech to the US$5.5m; It follows a US$1.8 million round led by seed-stage investment firm Accion Venture Lab last year
• According to CEO Jihan Abass, the increased cash would be utilised for business development, product and technology growth, and expansion into new nations like Egypt, Nigeria, and Uganda
• The firm intends to offer tech solutions to digitise agents and brokers, assisting them in streamlining their operations to reach a large customer base and sell online

Lami Technologies, a Kenyan-based firm, has acquired US$3.7 million in seed funding to market its insurtech solution throughout Africa.

Harlem Capital, an early-stage venture business that invests in seed-stage tech-enabled start-ups with an emphasis on minority and female founders, was in charge of the extension.

Early-stage venture capital firm Newtown Partners; Peter Bruce-Clark, a partner at New York’s research-driven venture capital firm Social Impact Capital; Caribou …

To maintain compliance with the standards for the China market, KEPHIS is still conducting audits of farms, packhouses, and fumigation facilities interested in exporting fresh avocado to China. Farms and facilities that comply should also be submitted to GACC for approval.

Following the early January 2022 signing of two treaties to promote bilateral commerce, specifically the sale of avocados and aquatic products from Kenya to China by Agriculture Cabinet Secretary Peter Munya and Chinese Ambassador Zhou Pingjian, the export of fresh avocados to China has begun.

Kenya is also preparing to sell black tea to the enormous Chinese market in response to the growing demand generated by the leaf.

According to Kenya’s ambassador-designate to Beijing, Muthoni Gichohi, Kenyan tea is one of the most popular in the East Asian nation, with black tea markets rising due to increased consumption. Some of Kenya’s tea manufacturers have begun collaborating with Chinese marketers …

The findings are quite encouraging for Sonatrach and Algeria, both of which have not seen major increases in their hydrocarbon reserves since the middle of the 2000s.

Since the beginning of the year, Algeria has experienced an increase in the amount of oil and gas being exported via pipeline and sea; Algeria has provided Italy with 13.9 billion cubic metres, which is more than 113 per cent of the amounts that were originally expected.

More recently, Occidental (US), Total Energies (France), and Eni (Italy) came to an agreement worth US$4 billion to develop a site located in the Berkine perimeter and generate 1 billion barrels of oil equivalent. The transaction was signed by all three companies.

Sonatrach and other international oil firms can now enter into production-sharing agreements according to a hydrocarbon law passed in 2019, despite the fact that the legislation sparked some street protests. However, it established a …

Crypsense Digital Group is Africa’s first and fast-growing Digital Assets Capacity Building and Management Platform, providing an end-to-end solution for institutional blockchain and digital asset adoption.

Training, wealth management and custodial solutions, asset finance, and an accelerator launchpad to promote blockchain and cryptocurrency entrepreneurs in Africa are the primary tenets of the company.

Learn to Earn (L2E) and Play to Earn (P2E) are two learning management systems that the capacity development platform provides for blockchain and cryptocurrency. Education on cryptocurrency that can be interacted with can be grasped quickly and make the learning process both enjoyable and profitable simultaneously.…

During the forum, USTDA and AIF demonstrated how the relationship between the two organisations helps improve women’s leadership in developing sustainable infrastructure in Africa.

Additionally, it also backed the U.S. government’s Prosper Africa effort to enhance commerce and investment between African states and the United States.

At the closed-door meeting, participants included:

Female business executives from Africa’s private sector,
Representatives from the United States government, and
Representatives from international development funding agencies.

“It is of the utmost importance to get women together to discuss the opportunities that may be found in the development of infrastructure and in gaining access to financing. Bringing together women to talk about infrastructure development opportunities and access to capital, said  Enoh T. Ebong, the Director of USTDA.…

By being awarded the ISO: 9001:2015 certification, the international designer and cookstoves manufacturer demonstrates the company’s dedication to providing consistently high-quality products and constantly improving its design, manufacturing, and distribution processes to increase customer satisfaction with those processes and the company’s products.

This certification was awarded to BURN Manufacturing after a 12-month assessment of its business processes across all of its core departments by the world’s leading certification company, SGS United Kingdom Ltd.

BURN Manufacturing joins the ranks of more than one million companies and organisations located in 170 different countries that have been certified by the International Standards Organization (ISO).…

The train is among the most efficient and least polluting modes of transportation, according to the International Energy Agency (IEA). Trains account for only 0.3 per cent of total global emissions, whereas aviation accounts for 2 per cent.

Even though transportation accounts for a significant portion of green bond issuances worldwide (twenty per cent of all green bonds issued worldwide), this sector is still grossly underrepresented in total distributions in Africa (less than one per cent).

This project is an example of how addressing infrastructure difficulties and providing a friendly solution to the environment may be accomplished through utilising a capital market instrument known as a Green Bond.

This initiative is one of the avenues FSD Africa is considering to bring about the change and demonstrate to other prospective issuers and investors the practicability of the green bond labelling procedure.…

The creditor committee for Zambia stated that the conditions of the reorganisation would be finalised in a memorandum of understanding, but they did not provide any other specifics.

Additionally, it requested that private creditors “commit without delay” to the process of negotiating debt relief on conditions at least as favourable as those proposed by the government.

Kevin Daly, who is in charge of a group of Zambian Eurobond holders, praised the bilateral creditors’ statement but reiterated the need for access to the Debt Sustainability Analysis (DSA) of the IMF, which serves as the negotiation’s starting point.

The World Bank’s president, David Malpass, reiterated such sentiments, saying, “I implore official bilateral and private sector creditors to participate on equal terms, granting Zambia a considerable net-present-value debt reduction.”…