Author: James Wambua

Zambia’s economic growth projections have dropped to 1.2 per cent, down from an earlier estimate of 2.3 per cent. Key sector agriculture has shrunk by over 20% YoY even as energy output dropped by nearly 10%, affecting electricity supply. Compounding the challenge, inflation in Zambia rose sharply, reaching 15.7% in October 2024. Zambia’s economic outlook for 2024 has suffered a downturn, with the main sectors facing substantial contractions that could weigh on the South African country’s overall recovery. According to the latest review by the International Monetary Fund (IMF), Zambia’s economic growth projections have dropped to 1.2 per cent, down…

With its vast rivers and elevated terrains, Ethiopia is one of Africa’s most hydropower-rich nations. According to the International Hydropower Association, Ethiopia’s untapped rivers could generate up to 45,000 MW of electricity. However, While Ethiopia could evolve into a regional ticket to energy independence, some nations like Egypt and Sudan have expressed concerns over water access and environmental impact. Ethiopia has long harboured dreams of becoming a renewable energy powerhouse. With its vast rivers and elevated terrains, it is one of Africa’s most hydropower-rich nations. And as global pressure mounts to curb fossil fuel dependency, the country’s hydropower ambitions offer…

In Africa, climate resilience is limited due to socio-economic vulnerabilities and limited adaptive capacity. The UNEP report calls for an accelerated increase in adaptation efforts and finance to address the mounting risks, particularly in developing nations. In 2022, adaptation finance for developing countries rose to $28 billion, a far cry from the $187-$359 billion per year required to bridge the gap by 2030. As the global climate crisis intensifies, the impacts are hitting vulnerable regions hardest, with Africa bearing the brunt of devastating consequences. According to the United Nations Environment Programme (UNEP) Adaptation Gap Report 2024, average global temperatures will…

Stanbic IBTC Bank Nigeria’s headline PMI declined to 46.9 in October from 49.8 reported in September. This is a pointer that the country suffered a marked deterioration in business conditions during the start of the fourth quarter. Stanbic Bank report says this was the most pronounced dip in private sector trade activity since March last year. Nigeria suffered the third-fastest rise in overall input prices on record in October 2024 forcing a downturn in the country’s private sector activity at the start of the final quarter of the year. Stanbic IBTC Bank Nigeria’s headline PMI declined to 46.9 in October…

Companies within the Special Economic Zone (SEZ) benefit from reduced corporate tax rates, zero-rated VAT, lower withholding taxes, and preferential import duties. The business hub has successfully attracted 17 firms so far, and eight have already enjoyed the benefits of the SEZ framework. By 2040, Nairobi Gate envisions a facility that supports Kenya’s industry needs and serves as a model for SEZ operations in sub-Saharan Africa. Nairobi Gate Industrial Park Special Economic Zone (SEZ) has announced the groundbreaking of its fifth phase, a $7 million expansion project in Kenya’s agro-processing industry. Designed to support Kenya’s agro-processing potential, this initiative reflects…

Janngo Capital’s $78M fund has redefined gender-equal investment in Africa’s tech sector. This has positioned the firm as a key player in African venture capital scene while supporting women-led enterprises across the continent. Janngo’s fund has drawn new investors, Mastercard Foundation Africa Growth Fund, U.S. International Development Finance Corporation (DFC), International Finance Corporation (IFC), and ANAVA Fund. Janngo Capital, a female-led Pan-African venture capital firm, has made history by finalizing its second fund at an impressive $78 million, 20 per cent beyond its original target. This milestone establishes Janngo Capital as the largest gender-equal tech VC fund in Africa, a…

This initiative focuses on training developers to become certified in NVIDIA’s technologies, creating talent knowledgeable in AI, data science, and GPU processing. By nurturing a workforce skilled in AI and advanced tech, this alliance will drive innovation, entrepreneurship, and economic growth. Young developers will gain job opportunities and contribute to solutions in healthcare, finance, and agriculture. Africa’s youth population, one of the fastest-growing in the world, presents both a challenge and an opportunity. With millions of young Africans entering the job market each year, the continent faces a pressing need to generate work opportunities to check a worsening joblessness crisis.…

A new alliance between fintechs Network International and Ant International is set to stir up the digital finance ecosystem in Africa and the Middle East. Deal will see banks, fintechs, and telcos across the MEA gain access to a cutting-edge digital wallet suite. With Alipay+ Wallet Tech, Network aims to offer businesses enhanced experience in digital payments. The push to enhance financial inclusion and digital wallet offerings in Africa has received a shot in the arm with Network International and Ant International announcing a strategic partnership aimed at revolutionizing mobile wallet technology. Through this collaboration, banks, fintechs, and telecommunications companies…

The injection of $2 million will allow Oyster to deepen its reach, bringing more farmers into its network and enhancing its ability to implement climate-smart practices. This expansion comes at a critical time as Ghana’s agricultural sector faces mounting challenges from climate change, making the need for resilient, sustainable farming methods more urgent Oyster has also contributed roughly $3.8 million to farmers, helping stabilise incomes and supporting community growth. Oyster Agribusiness, a Ghanaian agri-tech company specializing in climate-smart agriculture, has secured a $2 million investment to scale its operations and expand its support for smallholder farmers across the country. The…

To stay within the 1.5°C target, cutting emissions by 42 per cent by 2030 and 57 per cent by 2035 must remain a priority for all nations. This level of reduction requires more than just promises on paper; it demands immediate, impactful action on a global scale. The call to limit global warming to 1.5°C is growing more urgent. As climate scientists and world leaders sound the alarm, the call to limit global warming to 1.5°C is increasingly urgent. According to the UN Environment Programme (UNEP) in its 2024 Emissions Gap Report, the window for action is closing fast. For…