Author: James Wambua

In Nairobi, delegates from 170 countries are convening for the initial discussion on a draft treaty released in September, outlining various approaches to address plastic pollution. Norway and Rwanda are spearheading the “high ambition coalition” that seeks to eradicate plastic pollution by 2040. Oil-rich Saudi Arabia is at the forefront of a coalition comprising countries with massive petroleum industries. This group is leaning towards setting priorities on recycling and waste management. Delegates from 170 countries worldwide are gathering in Nairobi from November 13th to 19th to negotiate plans aimed at eradicating global plastic pollution. This assembly brings together petrochemical multinationals,…

Africa’s infrastructure gaps hinder populations from accessing healthcare, education, trade hubs, and economic opportunities. Africa has only 53 per cent of paved roads, isolating millions of people from access to essential services. AfDB President says the development of regional corridors should be complemented with one-stop border posts to stimulate trade. Across Africa, the continent’s road infrastructure deficit creates high production and transaction costs. A new report notes that these persistent bottlenecks in the vast continent must be addressed to scale opportunities envisaged under the Africa Continental Free Trade Area (AfCFTA). The “Cross-Border Road Corridors Expanding Market Access in Africa and…

The ACG financing will support sustainability in Africa initiatives such as energy security and transition. It will also support regional integration and connectivity, trade finance and facilitation, gender and youth initiatives. ACG has been a long-standing supporter of African countries and has invested over $220 billion in the region. Stepping up their support for African partner countries ahead of the COP28 climate change conference, the Arab Coordination Group (ACG) has announced it will allocate up to $50 billion to help build resilient infrastructure and inclusive societies in Africa. COP28, held from 30 November to 12 December 2023 in Dubai, signifies…

In the ever-evolving world of global finance, oil-rich Saudi Arabia is emerging as a pivotal thread, weaving a narrative of economic collaboration and strategic partnerships. As the Saudi Fund for Development (SFD) unfurls its wings, it has inked a historic $580 million loan agreement with 12 African countries, marking a significant stride in the kingdom’s expanding role on the world financial stage.

Against the backdrop of evolving dynamics, where traditional financiers, especially China, are reassessing their commitments, Saudi Arabia’s ascent becomes a compelling tale of financial diplomacy, poised to reshape the contours of international economic relations. Saudi Arabia is positioning itself not just as a regional powerhouse but as a global player influencing the trajectory of world finance.

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…

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.

The African Growth and Opportunity Act (AGOA) has played a pivotal role in the economic relations between the US and Africa. Since its enactment by the US Congress in 2000, Agoa has offered African nations preferential access to American markets, promoting trade and economic growth. In recent years, however, AGOA has become a focal point in the intensifying competition between the US and China for influence in Africa.

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…

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…