Author: James Wambua

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…

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.

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…

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…

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.