Author: James Wambua

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…

Small scale firms in Africa urged to embrace technology, research, and development to power their growth at scale. African MSMEs have been challenged to tap opportunities presented by the African Continental Free Trade Area (AfCFTA) Agreement. Agriculture, manufacturing, ICT, minerals, and creative industries highlighted as sectors that have huge potential for MSMEs’ growth. The African Union (AU) has called upon startups and micro, small, and medium-sized enterprises (MSMEs) across Africa to harness the power of innovation for their growth and sustainability. This appeal has been made by Albert Muchanga, the AU Commissioner for Economic Development, Trade, Tourism, Industry, and Minerals…

Kenyan aviation workers have called off their strike. The protest was ignited by concerns over the planned leasing of East Africa’ busiest airport to India’s Adani Group. Under a 30-year, $1.85 billion deal, Adani Group seeks to make extensive upgrades Kenya’s JKIA. After hours of boycotting, which left hundreds of passengers stranded and paralyzed flight operations at Jomo Kenyatta International Airport (JKIA), Kenyan aviation workers have called off their strike. The protest, ignited by employment and other concerns over the planned leasing of East Africa’s busiest airport to India’s Adani Group, saw a temporary halt to the country’s major air…

This ban is poised to protect domestic farmers and help stabilise the local sugar industry, which has been wobbly due to unchecked imports and poor management of millers. Kenya projects local sugar factories could produce over 800,000 metric tonnes in 2024, an uptick from the previous year. On average, Kenya consumes about 950,000 metric tonnes of sugar annually. In a sweet deal fashioned to bolster local sugar producers, Kenya has imposed an immediate freeze on sugar imports from outside regional markets: The Common Market for Eastern and Southern Africa (COMESA) and the East African Community (EAC). The decision comes at…