Author: James Wambua

• In Benin, the Fund will support the design of climate adaptation measures and best practices in port operations.
• The financing will see Morocco produce and sell 105 million cubic meters of potable water to around 1.5 million people in Safi and El Jadida.
• These measures will mitigate the imminent climate change risks associated with temperature and sea level rises and droughts.

The Canada–African Development Bank Climate Fund (CACF), established to support gender-affirmative climate change projects in Africa, has approved $36.3 million for two private sector operations to advance climate adaptation initiatives across Africa.

This amount, provided in the form of concessional loans to private sector companies, includes $18.3 million approved for the rehabilitation and expansion of the Port Autonome de Cotonou in Benin and another $18 million to support the construction of three seawater desalination plants under the Green Investment Program of the OCP Group.

Climate adaptation in Benin

The digital connectivity of a continent plays a crucial role in shaping its economic growth and development. Africa, a continent often regarded as the cradle of human civilization, is experiencing advancements in its digital infrastructure. The latest stride in this journey towards a tech-savvy Africa is a substantial commitment by the Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group, and its fund manager, Ninety One.…

In a world grappling with the urgency of climate action, the UK has long been a beacon of progress in environmental policy. However, the European country appears to be taking a perplexing step in the opposite direction.

In his maiden speech on 07 November 2023, King Charles III unveiled his intention to further dilute environmental protection regulations. This motive was initiated by Prime Minister Rishi Sunak. In the plan, the moratorium on North Sea oil and gas extraction, lifted by Sunak in July, is set to be followed by a new law that mandates annual issuance of oil and gas drilling licenses in the North Sea. Sunak government’s argument revolves around protecting jobs, lowering dependence on foreign fuel, and enhancing energy security.…

• TransUnion survey shows four in 10 (41%) of Kenyan consumers reported a decrease in income over the past three months.
• A similar number or 42% of Kenyan consumers anticipate being unable to pay their current bills and loans in full.
• About 55% of Kenyan consumers plan to make further cuts to their discretionary spending. What’s more, 47% expect a decrease in large purchases such as cars.

A new survey by TransUnion has revealed a mixed financial outlook for Kenyan consumers in the second quarter of 2023. The research, presented at its annual Financial Services summit in Nairobi, found that while eight in 10 (79 per cent) expect their household incomes to increase in the coming year, four in 10 (41 per cent) reported a decrease in income over the past three months. A similar number or 42 per cent anticipate being unable to pay their current bills and loans in …

• Global South is rapidly becoming a center of technological innovation and environmentally conscious policymaking.
• The area is ideally set to lead in sustainable plastic manufacture as the world reimagines plastic management.
• Producing plastics in novel ways is essential to the circular economy’s goal of minimising, reusing, and recycling materials.

The environmental effects of plastic have dominated the conversation over this material in recent years. Latest technological developments and growing international agreements suggest that the center of plastic production may soon move to the Global South.

Global initiatives to reduce plastic pollution, a booming circular economy, and expanding industrial capacities in the Global South are all driving this shift. The Global South is ideally situated to lead the way in sustainable plastic manufacture as the world community comes together to reimagine plastic management.

When it comes to international initiatives to reduce plastic waste, the United Nations has been a leader. This …

South Africa-based insurer Hollard International has extended its footprint into East Africa. Hollard, a privately owned insurance, has struck a deal to acquire a stake in Apollo Investments Limited, the parent company of Kenya-headquartered APA Insurance.

This strategic investment, subject to regulatory approvals, gives Hollard International a presence in the East African market. The new acquisition supplements its existing operations in Southern and West Africa. Once approved, Hollard will become the second international investor in APA Insurance, following Swiss Re, which acquired a stake in 2014.…

In the hushed corridors of history, where the whispers of the past echo through time, there comes a moment when a monarch must confront the spectres of his lineage and reckon with the shadows that dance upon the pages of his family’s legacy. As King Charles III embarked on his maiden tour to Kenya and Africa, a voyage cloaked in the promise of a brighter future, he found himself standing at the precipice of a poignant encounter.…

• Chancellor Olaf Scholz says German companies are looking for gas deliveries from Nigeria.
• At the moment, Germany imports huge volumes of crude oil from Nigeria, but no gas.
• Nigeria boasts the largest confirmed natural gas reserves in Africa, estimated at 202 trillion cubic feet.

Europe’s economic powerhouse Germany is considering the prospect of importing natural gas from Nigeria. This plan was revealed by Chancellor Olaf Scholz during an interview with Nigerian newspaper, The Punch.

Scholz is visiting Nigeria on a mission to reinforce bilateral relations with Africa’s largest economy. His visit, the third to Africa since he took power in 2021, marks a significant milestone in fostering economic cooperation. This trip holds particular significance as it is the German leader’s first visit to Nigeria since President Bola Tinubu’s election.

“Nigeria has the biggest gas supply in Africa,” Scholz told The Punch. “German companies are interested in gas …

The African Development Bank (AfDB) has initiated a five-year plan to stimulate growth in South Africa, the continent’s most advanced economy. Dubbed the Country Strategy Paper (CSP) 2023-2028, AfDB has outlined two main lines of action. The Bank aims to enhance governance while deploying strategies to revamp the private sector.
Concerning governance, CSP 2023-2028 will support the South African government in its efforts to address persistent structural challenges. This approach aims to promote industrialisation and establish a faster, more inclusive growth trajectory to combat poverty.…