Author: James Wambua

After nearly a century, Shell has decided to exit Nigeria’s oil and gas sector. Shell has faced persistent challenges over the years, grappling with numerous onshore oil spills caused by theft, sabotage, and operational difficulties. In December 2022, Shell agreed to pay $15.9 million in damages to communities in Nigeria’s Niger Delta impacted by numerous oil leaks. After nearly a century, Shell has decided to exit the Nigerian oil and gas sector. The British multinational is selling Shell Petroleum Development Company of Nigeria Limited (SPDC), the entity that owns onshore oil assets in the nation’s Niger Delta region. As fate…

The International Solar Alliance (ISA) is setting up a 15MW project under its Global Solar Facility (GSF) backed by the World Bank’s Multilateral Investment Guarantee Agency (MIGA). In collaboration with solar power firm Nuru, the project will be spread across three provinces in the Eastern DRC. Nuru plans to deploy an additional 39MW in subsequent phases, aiming to provide power to up to 5 million people by 2025. Nuru, a pioneering solar power company, has embarked on an ambitious project with the mission of constructing a 15-megawatt (MW) solar metro grid capacity in the Democratic Republic of Congo (DRC). This…

The seven-star marvel, named “Montuli,” will be set up on the island of Pemba, a top tourism haven in Zanzibar. Attractive policies and enabling environment on the island attracted us to invest $8 million in this project, which will create 200 jobs upon completion, says Hussein Muzamir, the investor behind Montuli. The seven-star hotel will help Zanzibar edge closer to achieving its goal of attracting 850,000 tourists annually by 2025. In the sun-kissed Zanzibar, a beacon of opulence is set to stir the East African hospitality industry skyline. Zanzibar is fast establishing itself as a premier luxury tourism destination and…

Cholera fatalities in Zambia have now surpassed 150 cases since the onset of the latest outbreak in October 2022. Authorities are also prohibiting the sale of food along urban streets as Zambia cases hit past 4,000. A cholera resurgence in October has spread across the country, with reported cases spanning 16 districts across six of Zambia’s 10 provinces. Authorities in Zambia have postponed the start of the 2024 academic year to January 29th, underscoring the escalating death toll attributed to the Cholera outbreak in the country. This drastic decision follows the alarming statistics of Cholera fatalities, which have now surpassed…

A new study has brought to light the harsh reality facing Africa’s birds of prey with 29 species reported to be on the verge of extinction. Human encroachment, steady depletion of food, and persecution are pushing many species to the brink of extinction with West Africa worst affected. The study warns decline in populations of Africa’s birds of prey portends serious consequences beyond the affected species and could destabilize ecosystems. Across Africa, the skies, savannas, and forests that were once dominated by majestic birds of prey are now witnessing a sobering reality of population decline and potential extinction. New study…

In 2023, Kenya’s economy experienced real GDP growth, surging from 4.8% in 2022 to an estimated 5 per cent. Kenya’s agriculture, which had grappled with severe drought, recovered with critical crops, such as tea and coffee, displaying remarkable resilience. High cost of living, exchange rate pressures, and global economic uncertainties remain persistent risks to growth this year. In 2023, Kenya’s economy strengthened, defying persistent challenges as highlighted in the World Bank’s 28th edition of the Kenya Economic Update (KEU). Despite facing continued hurdles, East Africa’s biggest economy experienced an acceleration in real GDP growth, surging from 4.8 per cent in…

Fruit exports played a pivotal role in bolstering Kenya’s agricultural sector, posting a surge of 84.3 per cent to 59,684.5 metric tonnes in September this year. Kenya’s vegetable exports reached 20,427.1 metric tonnes, while tea production soared to 138,771.6 metric tonnes in the quarter under review. Other sectors that experienced notable growth were financial, ICT as well as the accommodation and food service industries. Kenya’s GDP growth witnessed an upswing, with the real Gross Domestic Product increasing by 5.9 per cent in the third quarter of 2023. This marked a substantial improvement from the 4.3 per cent recorded during the…

The latest round of talks on the Grand Ethiopian Renaissance Dam (GERD) has concluded in Addis Ababa without success. Egypt, heavily reliant on the Nile for its water supply, is blaming Ethiopia for rejecting proposals that safeguard the interests of the three nations involved. On its part, Ethiopia is accusing Egypt of “misrepresenting” its positions in the talks. The latest round of Ethiopia-Egypt talks on the Grand Ethiopian Renaissance Dam (GERD) has concluded without success. The meeting, held in the Ethiopian capital Addis Ababa, failed to produce any tangible results, as Ethiopia remained steadfast in its refusal to accept technical…

Kenya stands to benefit from duty-free and quota-free access to the expansive opportunities that historic Economic Partnership Agreement (EPA) presents with the 27-member EU bloc. President Ruto has lauded EPA, saying it seeks to put real money into the pockets of ordinary people (in Kenya). Kenya aims to roll out provisions contained in the EU-East African Community EPA, and will be open for regional countries to join in the pact in the future. Kenya and the European Union (EU) have taken a significant stride towards strengthening their trade relations with the signing of the Economic Partnership Agreement (EPA) in Nairobi.…

The World Bank recommends three broad policy pathways to achieve inclusive growth and fight poverty. These include connecting the poor to economic growth and strengthening households’ resilience to adverse weather shocks. The lender also advocates leveraging fiscal policy programs to support poverty reduction objectives. Kenya’s economic growth holds the promise of lifting millions out of poverty, even amid challenging economic conditions. According to the World Bank, the secret lies in adopting an inclusive growth strategy that not only enhances economic opportunities and productivity for the poorest but also remains steadfast in pursuing long-term developmental objectives. This vision is captured in…