Author: James Wambua

The latest Stanbic IBTC Bank Nigeria PMI shows most companies continued to report less demand, attributable to an increase in the cost of products. Nigerian industries reported the sharpest rise in input costs and output prices in six months. High pump prices, transportation, and materials for manufacturers continued to hurt businesses in the month under focus. Inflation in Nigeria Rising inflationary pressures in Nigeria hit businesses hard at the close of the third quarter, with selling prices increasing by the sharpest margin in six months. The country’s private sector reported marginal job opportunities in September, the lowest in the previous…

IMF: Juba is grappling with economic woes partly resulting from the spillovers of the war in Sudan and recurrent flooding. Oil revenues are exhausting because the pipeline that carries 70% of South Sudan’s oil exports has been inoperable since February 2024. These challenges are negatively impacting the country’s economic and social outcomes. The ongoing war in Sudan, as well as floods attributable to extreme weather patterns, have pushed South Sudan’s economy to the red, with reports showing the country suffered -6 percent contraction in the period ending June 2024 In an update shared by the International Monetary Fund (IMF), South…

AIM Congress 2025 is poised to show innovations that promise to redefine the finance industry at every level. The case for emerging digital currencies amid the need for cross-border regulatory requirements to feature in talks. Future of finance discussions to encompass fintech, sustainable finance, and risk management. Globally, an evolution is underway. Innovations are defining the future of finance as individuals and corporations adopt new ways of borrowing, transacting, and investing. Policy decisions on interest rates in key markets, vice-like regulatory requirements, and the now ubiquitous digital currencies are increasingly pushing governments to adopt mechanisms to accommodate new demands, and…

Moody’s has affirmed the long-term foreign-currency issuer rating of the Emerging Africa Infrastructure Fund (EAIF), a multi-donor financing mobilizer at A2, with a stable outlook. EAIF says this endorsement is a pointer to its strong capital position and highly rated shareholder base. Founded in 1991, EAIF says has concluded nine rounds of raising funds for infrastructure development in the past two decades. Global rating agency Moody’s has affirmed the Emerging Africa Infrastructure Fund (EAIF) long-term foreign-currency issuer rating at A2, with a stable outlook. According to the Jo’burg-based fund, this endorsement signals its “strong capital position, and highly rated shareholder…

The market for sustainable cooling systems in developing economies is set to hit $600 billion by 2050. Research shows that sustainable cooling systems can cut cooling-related emissions by almost 50%. They can also help lower electricity bills, reduce equipment costs, and power sector investments by $8 trillion by 2050. Unlocking finance, in particular private finance, is essential to support the transition to sustainable cooling across developing economies. Economies in Africa are projected to experience the fastest growth in cooling systems, a new survey by the International Finance Corporation and the UN Environment Programme (UNEP)-led Cool Coalition shows. Globally, Africa is…

With its multiple technologies, Bboxx is trailblazing in the green energy space, scaling its operations across Africa and projecting to offset over 20 million tonnes of CO2. Bboxx has been awarded Gold Standard certification for carbon credit programs based on solar home systems, clean cooking alternatives, and solar-powered water pumps. Implementing carbon programs allows Bboxx to accelerate market growth potential by reaching over 4 million customers in five African countries. Rwanda-based Bboxx plans to offset over 20 million tonnes of carbon and generate $100 million worth of carbon credits through clean energy projects in Africa. In this initiative, Bboxx projects…

Guinea has announced a single-use plastic ban, signalling the growing momentum of the African plastic ban movement. Guinea prohibits the production, import, sale, and use of single-use plastics, including plastic bags and oxo-degradable plastics. The country now joins trailblazers Rwanda, Kenya and Somalia, who banned single-use plastics in their jurisdictions. Africa is experiencing a vital environmental wave with the increasing rollout of tough measures on single-use plastics. With trailblazers Rwanda and Kenya having banned single-use plastics, Guinea has joined the elite club, announcing a sweeping ban on single-use plastic products and packaging. Early this year, Somalia joined this movement, banning…

China-backed Jamestown Fishing Port is expected to inject new energy into Ghana’s fishing industry. It is equipped with facilities such as a fish market, ice-making plant, cold storage, and a ship repair station. The port has a huge potential to generate and sustain millions of jobs, thereby stimulating the local economy. Ghana has made a landmark move in its journey towards economic revitalization and modernization with the inauguration of the $60 million Jamestown Fishing Port in Accra. This project, which further cements China-led investments in Africa is poised to transform the nation’s fishing industry, bringing jobs, growth, and national prosperity.…

Dutch climate action organization DGB Group aims to restore 12,000 hectares of native forests in Ethiopia’s mountainous region. DGB’s iconic bamboo project has been added to the prestigious Verra Verified Carbon Standard (VCS) registry. This move ensures that the project not only restores lost ecosystems but also generates measurable, verifiable carbon credits, which are vital element on carbon finance. Ethiopia, known for its stunning landscapes and rich cultural history, is now setting the stage for a new chapter in sustainability, and a chance to tap billions in climate finance. An ongoing reforestation initiative, spearheaded by Dutch climate action organization, DGB…

President Bassirou Diomaye Faye has vowed to put an end to the tragedy playing out on the waters of the Atlantic. Senegal’s Mbour city has seen a surge in people leaving its shores, driven by dreams of opportunity, but facing the harsh reality of death. On Sunday, a rickety boat left Mbour, with 89 young people. Within hours, however, tragedy struck killing 37. The owner of the ill-fated boat turned himself in on Monday. The Atlantic Ocean is known for its beauty, but for many young West Africans, it has become a deadly grave as people smugglers take advantage of…