Author: James Wambua

The Lobito Corridor represents a significant transport infrastructure project in Africa. The project will now become a reality with the backing of the US. Moreover, this is one of the projects through which Washington seeks to strengthen its investment ties on the continent. This project entails a transportation network that links northwest Zambia to Angola’s Benguela railway, ultimately connecting to the strategic Lobito port, the second largest seaport in oil-rich Angola.…

As the sun set over the Indian Ocean, casting a golden hue over the bustling Dar es Salaam port, a new chapter awaits in Tanzania’s maritime history. In a strategic move, the Tanzanian government inked a 30-year concession agreement with Dubai’s state-owned ports operator, DP World.

More than a business transaction, this partnership will see DP World operate and modernize parts of the Dar es Salaam port. The partnership speaks to Tanzania’s vision of dominating East Africa’s maritime space. It also shows Tanzania’s commitment to infrastructure development and international collaboration.…

The vast renewable energy potential across the African continent, combined with Europe’s ambitious production and import targets, is reshaping energy pathways and challenging established norms. Moreover, Africa and Europe have taken the reins in driving the global green hydrogen economy, marking a landmark shift in energy dynamics. …

• Energy poverty remains one of the biggest body blows slowing growth in many regions in Africa.
• About 650 million people in Africa lack access to electricity, hindering economic growth and human development while worsening the quality of life.
• Experts agree that nuclear energy’s ability to operate efficiently for decades can be a game-changer in plugging the continent’s energy needs.

Energy poverty remains one of the biggest body blows slowing growth in many economies in Africa. Across Africa, energy poverty, which is manifest in over 650 million people lacking access to electricity, is hindering economic growth. This challenge further slows human development besides worsening the overall quality of life.

It is against this backdrop that experts at the African Energy Week in Cape Town delved into a discussion exploring how countries can tap nuclear power to meet Africa’s energy demands and put an end to energy poverty.

Nuclear power can

• The sudden collapse of the Nigerian Naira versus the US dollar has caused widespread shock and alarm in the banking and investment industries..
• Continued loss in value of the Naira poses huge repercussions for the entire 15-member ECOWAS bloc, not just Nigeria.
• Many ECOWAS countries rely heavily on trade with Nigeria. When the value of the naira drops, the cost of importing products into Nigeria rises, and less money is available to spend on goods from other nations.

The sudden collapse of the Nigerian Naira versus the US dollar has caused widespread shock and alarm in the banking and investment industries. The effects of the currency exchange rate dropping to an all-time low on Nigeria’s economy and regional commerce are significant.

Current exchange rate of the Naira to the Dollar

The FMDQ, where foreign currency is legally sold through the NAFEM, reported an alarmingly low exchange rate of N999 for …

Over and above the graft and management woes gripping South Africa’s power utility Eskom, a brazen coal-smuggling gang has been operating under the authorities’ nose, worsening the electricity crisis that could lead to a nationwide blackout.
However, the South African Revenue Service (SARS) says it is closing in on the gang. SARs is working with law enforcers to conduct searches and seizures across five provinces where the coal-smuggling gang operates.…

The Bill and Melinda Gates Foundation has unveiled a $40 million funding plan to support multiple African companies for new messenger RNA vaccine development. This initiative addresses the challenge faced by millions of African people who were among the last to receive COVID-19 vaccinations.

The Gates Foundation asserts this initiative will leverage over 20 years of collaborating with vaccine makers in poor countries. Further, it will harness recent scientific breakthroughs to develop cost-effective, high-quality health tools with a global reach.…

Kenya will host the second Canada-Africa Business Conference early next year, bringing together investors from the two regions to explore key investment opportunities. Some of the target industries that the 19-20 February 2024 conference will focus on are medical care, infrastructure, energy, financing for Canada-Africa projects, and FinTech.
The two-day meeting in Nairobi’s Muthaiga Country Club follows the two regions’ first-ever program at Botswana’s Gaborone International Convention Centre in 2019.
In partnership with the Kenya Private Sector Alliance (KEPSA), the Canada-Africa Business Conference will bring together key players who will also visit select locations.…

Guinness Nigeria, a subsidiary of Diageo, will cease importing and distributing Diageo’s global brands, such as Johnnie Walker, starting April 2024 in a strategic shift that the firm says will help cushion itself from persistent forex hits. Instead, Johnnie Walker owner Diageo will establish a new subsidiary to import and distribute its range of spirits in the West and Central African markets after ending its seven-year-old contract with Guinness Nigeria.…

• In Africa, American Tower cut the emissions intensity per tower by 21% compared to their 2019 baseline due to rising use of solar.
• American Tower has invested over $350 million in energy reduction initiatives in Africa since 2018.
• Founded in 1995, American Tower is one of the largest, publicly held global real estate investment trusts.

The American Tower Corporation, a big player in Real Estate Investment Trusts (REITs), reduced its direct greenhouse gas emissions (scope 1) by 11 per cent last year, mainly by using more solar energy.

In Africa, the corporation cut the emissions intensity per tower by 21 per cent compared to their 2019 levels, attributable to increased deployment of on-site solar power.

The company’s 2022 Sustainability report notes that the number of hours various sites used solar energy has nearly doubled since 2019.

“Providing power as a service in India and Africa represents 41 per cent and …