Author: James Wambua

Ashden says these trailblasers, armed with groundbreaking technologies and innovative solutions, stand at the forefront of the battle against global warming. Climate charity Ashden has called for financiers, investors, and policymakers worldwide to step up support for proven climate solutions that hold the keys to our sustainable future. The Ashden Awards recognise inclusive solutions that deliver a wide range of benefits, from new jobs to community resilience and lowering emissions. In an era marked by increasing environmental crises and the relentless march of climate change, the call for innovation has never been more urgent. Climate charity Ashden has called for…

The IMF forecasts that Zimbabwe’s economy will decelerate to about 2% this year, down from 5.3% in 2023, due to a severe El-Niño-induced drought. Declared a national disaster in April 2024, the El-Niño-induced drought in Zimbabwe has severely hit agriculture, and tourism while sparking human-wildlife conflict. Traditional grain suppliers Zambia and Malawi are unable to meet Zimbabwe’s needs, compelling Harare to import GMO maize from South Africa. The International Monetary Fund (IMF) has projected that Zimbabwe economy will decelerate to about 2 percent this year, down from 5.3 percent in 2023, primarily due to a severe El-Niño-induced drought, which has…

ATIDI supports the 35MW greenfield geothermal project in Kenya with its Regional Liquidity Support Facility (RLSF). The project, the first to be considered for RLSF cover in Kenya, is set to benefit from ATIDI’s liquidity instrument which will cover the risk of payment default by public entities: Geothermal Development Corporation and Kenya Power. Kenya’s power sector benefits from an active private sector and boasts abundant renewable energy resources with hydro, wind, and geothermal projects dominating its energy mix. Regional Liquidity Support Facility (RLSF) The African Trade and Investment Development Insurance (ATIDI) and Globeleq Africa Limited, have jointly announced the former’s…

Ruto has bowed to public pressure and withdrawn the Finance Bill 2024, a piece of legislation that contained contentious tax increases. His move follows deadly protests that engulfed Kenya on Tuesday leaving 22 dead and part of parliament set ablaze. President Ruto: “It is clear that Kenyans want nothing to do with the bill. I concede.” Kenya’s President William Ruto has bowed to public pressure and withdrawn the Finance Bill 2024, a piece of legislation that contained contentious tax increases, following deadly protests that engulfed Kenya on Tuesday. The demonstrations, which saw parts of the parliament set ablaze, have been…

MSMEs and the e-commerce sector in Kenya are emerging as a formidable force driving economic growth. With over 7.4 million MSMEs contributing about 40 percent of the country’s GDP, their potential to boost the economy is huge. With internet penetration in Kenya currently above 74 percent, the country is well-positioned for e-commerce growth banking on an expanding middle class. In a world where technology continuously reshapes the business scene, the relationship between Micro, Small, and Medium Enterprises (MSMEs) and the e-commerce sector in Kenya is emerging as a formidable force driving economic growth. This dynamic was highlighted during a recent…

The deployment is part of a larger mission led by Kenya to restore order in Haiti, where gangs have taken control of most of the capital, Port-au-Prince. Gangs in Haiti have been responsible for widespread killings, kidnappings, and sexual violence. Police officers from Jamaica, the Bahamas, Barbados, Chad, and Bangladesh set to form part of the 2,500-international force. Kenyan police depart for Haiti The first group of Kenyan police officers has departed for Haiti to address the rampant gang violence plaguing the Caribbean nation. The deployment is part of a larger mission led by Kenya to restore order in Haiti,…

Tanzania has embarked on a plan to set up a 22-storey building in Kenya’s capital, Nairobi, to house its embassy staff. Tanzania Towers in Nairobi is part of a grand plan to set up embassy buildings in Kigali, Kinshasa, London, New York, and Lusaka cities. Once complete, Tanzania projects to earn about $13.75 million (TZS36 billion) per year from real estate investments in foreign capitals. Stung by rising costs of paying rent in foreign capitals for hundreds of chancery staff and the pressing need to shore up foreign currency receipts, authorities in Tanzania have embarked on a plan to set…

The UAE, Saudi Arabia, and Qatar, have poured billions into developing airports, airlines, and seaports across Eastern Africa in the last 10 years. In the latest development, UAE’s Sharjah Chamber of Commerce and Industry is set to build a new international airport just outside Kidepo National Park, in Uganda. These investments are transforming the region into a pivotal stopping ground for global trade, tourism, and travel. The economic ties between the Gulf Cooperation Council (GCC) countries and Eastern Africa have deepened significantly over the past 10 years, driven by strategic investments in key infrastructure. The Gulf nations, notably the United…

Young people, particularly Generation Z, have taken to the streets of the capital Nairobi, and other cities demanding rejection of new tax proposals. Critics argue that these measures will disproportionately affect the lower and middle classes of the economy, further straining an already burdened population. President Ruto justifies these measures as necessary steps to alleviate the country’s mounting debt. For Kenya’s President Ruto and his administration, a confluence of failed promises, high cost of living, and hopelessness among the youth is threatening to tear his government as millions of youth mount widespread civil unrest, protesting an increase in taxes in…

In 2024, startup funding in Africa has evolved with Climate tech, which covers various use cases, surging to account for 45% of funding, an all-time high. In the period under review, climate tech received $325 million. Despite the overall dip in total investments, climate tech’s share of funding has been steadily rising, reflecting its expanding importance in Africa’s startup scene. In the face of increasing economic woes and adverse weather conditions, climate tech startups in Africa are defying the odds, instead, experiencing unprecedented levels of investment. This year, climate tech is emerging as a primary focus for investors, reflecting the…