Author: James Wambua

Price for engineering innovations was awarded to Esther Kimani from Kenya. A solar-powered tool using AI and machine learning-enabled cameras to swiftly detect and identify agricultural pests and diseases has won Africa’s largest prize for engineering innovation. Her tool reduces crop losses for smallholder farmers by up to 30 per cent while increasing yields by as much as 40 per cent. The Africa Price has supported almost 150 entrepreneurs across 23 African countries, generating over 28,000 jobs and benefitting more than 10 million people through the innovative products and services developed. Price for Engineering Innovations was awarded to Esther Kimani…

President William Ruto of Kenya urges for reforms to the global financial system to provide Africa with access to long-term concessional finance and greater decision-making power. He highlights the critical need for investments in Africa’s infrastructure and clean energy projects to drive sustainable development and economic growth. The G7 Summit sought partnerships with African nations, aiming to bridge the continent’s infrastructure gap and support its development goals. At the 50th G7 Summit held in Borgo Egnazia, Italy, President William Ruto of Kenya made a compelling case for the transformation of the global financial system to better serve Africa. Addressing an…

Kenya’s FY2024/25 budget is the largest in the nation’s history at $31.1 billion. It, however, seeks to reduce the budget deficit through contentious tax reforms despite public outcry. The budget also seeks to roll out key banking and state corporation reforms. Kenya’s Treasury Cabinet Secretary, Prof. Njuguna Ndung’u, presented the largest budget in the country’s history for the fiscal year 2024/25, amidst a backdrop of economic challenges and simmering public discontent on punitive tax measures. The proposed budget of Kes4 trillion ($31.1 billion), up from Kes3.75 trillion in the previous year, aims to spur socio-economic transformation while addressing the budget…

Highly potent opioids, nitazenes, a drug up to 100 times more potent than heroin, were found in 83% of drug samples in Sierra Leone and 55% in Guinea-Bissau. This discovery marks a dangerous escalation in the African drug crisis. Nitazenes has been linked to overdose deaths in Western countries and parts of Asia. The persistent menace of drug and substance abuse is set to worsen with new revelations that for the first time, traces of highly potent opioids, known as nitazenes, have been found among hard drug users in Africa. This discovery was made by the Global Initiative Against Transnational…

Singaporean firm Tolaram will acquire Diageo’s 58.02% shareholding in Guinness Nigeria PLC. Tolaram has significant and extensive operations and a 50-year presence in Nigeria. Diageo will also remain in the country through its wholly owned international premium spirits business built to serve a wider geographic reach across West Africa, with Nigeria as one of the main operational hubs. In a major shake-up in Africa’s beverage industry, Guinness Nigeria has announced that Tolaram, a Singaporean company, has signed an agreement to acquire UK-based Diageo’s 58.02 per cent shareholding in the company. This acquisition is set to be completed in 2025, subject…

African economies will experience a $127bn cumulative growth between 2023 and 2030 if UN SDG targets to reduce malaria are met. Moreover, exports to African states would increase by more than $31bn if UN goals are achieved. For Kenya, this would mean a GDP boost of about $9bn between 2023-2030. A new report calls on governments, ahead of the G7 meeting, to accelerate the fight against malaria to save lives, unlock prosperity and bolster health security. An estimated $127 billion would be unlocked in a malaria-free Africa, a new report has revealed. This amount is the GDP increase that African…

Bolt, TRÍ, and Watu have launched a pilot program in Tanzania to introduce electric Bajajis, aiming to enhance sustainable urban transportation and improve the economic well-being of drivers. This initiative reduces operational costs significantly, boosts driver earnings, and aligns with Tanzania’s green mobility efforts. The program includes comprehensive support and training for drivers, with plans for future expansion to foster broader adoption of eco-friendly vehicles. In a move that is set to revolutionize Tanzania’s urban transportation, Bolt, TRÍ, and Watu Africa have joined forces to launch a pilot program featuring electric Bajajis. This collaboration not only promises to enhance sustainable…

Africa’s remittance market is projected to reach $500 billion by 2035, driven by mobile money technology and strategic investments in financial infrastructure. Despite high remittance costs, reducing fees through competition, regulatory improvements, and digital expansion is essential for maximizing economic benefits. Addressing informal channels and promoting financial literacy will further enable the continent to harness the full potential of remittances for sustainable growth and development. Africa’s remittance market is poised for steady growth, with predictions indicating it could reach a staggering $500 billion by 2035. This projection comes from DAI Magister, an investment bank, which highlights the vital role remittances…

World Environment Day 2024 marked under the theme “Our Land. Our Future. We are #GenerationRestoration,” highlights global efforts to restore degraded lands, combat desertification, and build drought resilience. Hosted by Saudi Arabia for the second time in over 50 years, the day amplified the Kingdom’s environmental goals, including the Saudi Green Initiative and Middle East Green Initiative, which seeks to plant 50 billion trees and achieve land degradation neutrality by 2030. With a focus on restoring degraded lands, combatting desertification and building drought resilience, countries around the world came together today to mark World Environment Day 2024, under the rallying call ‘Our Land. Our Future. We are #Generation…

President Ruto calls for reforms in the IMF to address emerging global challenges and seeks flexible lending instruments, equitable special drawing rights, and debt financing plans. He also advocates for governance reforms to better represent the Global South’s economic and demographic contributions. These changes are crucial for maintaining the IMF’s relevance and effectiveness in fostering stability and sustainable development. In a rapidly evolving global economy, the International Monetary Fund (IMF) finds itself at a critical moment as President William Ruto of Kenya articulates in the latest issue of the IMF’s Finance and Development Magazine. With over eight decades of history, the…