Author: James Wambua

Japan’s Toyota Tsusho Corporation will invest $5 million (KES800 million) in the Kenya Thika Vehicle Manufacturing initiative. A total of $93.7 million (KES 15 billion) will go towards the Meru Wind Farm Energy project, while $49.9 million (KES8 billion) will be invested in the Isiolo Solar Energy initiative. Japan is also readying $468.5 million (KES75 billion) for Kenya’s Menengai Geothermal Plant, as the Asian country promotes clean energy solutions. In a move poised to reshape Kenya’s industrial landscape, Kenya and Japan have jointly announced plans to invest an estimated $617.2 million in East Africa’s largest economy, with a focus on…

According to authorities, tapping into DRC’s mineral wealth will yield significant returns for investors and contribute to the Congolese population’s socio-economic advancement. This strategic approach resonates with President Félix Antoine Tshisekedi’s agenda to foster job creation and entrepreneurial opportunities. Canadian mining giant Ivanhoe Mines is cited as an example of a “modern investor” doing business in DRC. The Democratic Republic of Congo (DRC) is embarking on a bold mission to harness its untapped mineral wealth, valued at $24 trillion, by courting “modern investors” to drive its mining-powered development plan. At the forefront of this initiative is Mr. Miguel Kashal Katemb,…

Landlocked Mali, Niger and Burkina Faso lack direct access to the sea, presenting unique challenges in their future economic relationships. Nigeria’s imports from Niger have been on the rise, reaching $33.4 million in 2022 from $25.7 million in 2021. Mali witnessed a substantial surge in exports to Nigeria, posting 246% increase to $17.4 million in 2022. In a seemingly synchronized turn of events, the West African nations of Niger, Mali, and Burkina Faso have declared their exit from the Economic Community of West African States (Ecowas). This move announced in a joint statement on Sunday by the junta leaders of…

Experts project that Côte d’Ivoire seeks to sell its Eurobond and around 8.50 per cent to 8.75 per cent for a ticket size of between US$1 billion to US$1.25 billion. Ghana, Senegal, Nigeria, and Côte d’Ivoire have been key players, with the values of their Eurobond issuances typically ranging from $200 million to $1 billion. The annual value of Eurobonds issued by West African governments witnessed a remarkable surge, increasing from $200 million in 2007 to $2.25 billion in 2014. As the markets open in the new year, all eyes turn to Côte d’Ivoire, which has announced a plan to…

The US Navy SEALs executed a complex boarding of a dhow near the coast of Somalia in the international waters of the Arabian Sea, seizing Iranian-made ballistic missile and cruise missile components. The seized items included propulsion, guidance, and warheads for the Yemen-based terror group Houthi medium-range ballistic missiles and anti-ship cruise missiles. During the operation, however, one Navy SEAL fell into the rough waters off Somalia’s coast, and a second SEAL followed, attempting to rescue him in vain. The US Navy has declared two SEALs, who went missing off the coast of Somalia 11 days ago, dead following a…

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…