Author: Wanjiku Njugunah

• A climate-smart crop insurance scheme introduced in Kenya combines satellite data and smartphone imagery to provide farmers with much-needed protection
• It relies on satellite images to determine if a particular area – sometimes covering up to 1,000 farmers
• Picture-based insurance requires farmer champions to periodically take photos on behalf of farmers’ crops at different growth stages 

As climate change worsens, millions of smallholder farmers across sub-Saharan Africa grapple with unprecedented weather changes and influxes of pests and diseases that ravage their farms and devastate their livelihoods.

However, a climate-smart crop insurance scheme introduced in Kenya combines satellite data and smartphone imagery to provide farmers with much-needed protection.

To cushion farmers against climate change and boost productivity and resilience, governments and private sector players have been exploring various financing solutions.

Among them is index-based weather insurance, which relies on satellite images to determine if a particular area – sometimes covering up …

• The number of acutely food insecure people in West and Central Africa has risen to a record high of 28 million people
• This is the largest number of people facing high acute food insecurity in West and Central Africa recorded since 2014

A new report has indicated that the number of acutely food insecure people in West and Central Africa has risen to a record high of 28 million people; days after Save the Children said more than 260,000 children may have died from extreme hunger or related diseases in East Africa.

According to the Food and Agriculture Organization of the United Nations (FAO) and the United Nations World Food Programme (WFP), West and Central Africa trends point toward a further deterioration if support to stem the spread of hunger is not increased.

Data by the two UN organizations indicate that in the Sahel and West Africa, 26 million people …

• Save the Children has found that about 262,500 acutely malnourished children may have died between January and November 2021
• The organization used data compiled by the UN and evaluated mortality rates for untreated cases of severe acute malnutrition in children under five across eight countries in East Africa
• Health centre admissions of children suffering acute malnutrition have risen dramatically in 2021, with a 16 per cent increase in the first half of this year from an already high baseline

A new report has found that more than 260,000 children aged under five may have died from extreme hunger or related diseases in East Africa since the start of the year.

Save the Children used data compiled by the UN and evaluated mortality rates for untreated cases of severe acute malnutrition in children under five across eight countries in East Africa.

Using a conservative estimate, the humanitarian aid agency discovered that …

• Central Bank of Kenya has liquidated Imperial Bank of Kenya which was placed under receivership in October 2015
• The bank’s regulator said liquidation was the only feasible option, adding that it was acting in the interest of the general public
• Imperial Bank was placed under receivership, after CBK discovered massive fraud committed by its leadership through illegal deals, milking the bank at least KSh 34 billion

Kenya’s Central Bank has approved the complete shutting down of a bank that was placed under receivership five years ago.

On Thursday, December 6, Central Bank distributed a press release informing the general public that it was closing down Imperial Bank of Kenya Limited in Receivership (IBLIR) bank, seeing that it was the only feasible option.

The liquidation of Imperial Bank now sets the stage for the sale of its remaining assets.

After the bank went under, Central Bank placed it under the receivership …

• Uganda’s electricity sector has been named Africa’s best regulated for the fourth year running 
• Other strong performers, including its East African neighbours, Kenya and Tanzania, and Namibia and Egypt

Uganda’s electricity sector has been named Africa’s best regulated across several key metrics, according to the African Development Bank’s 2021 Electricity Regulatory Index.

The country was named the best for a fourth year running, ahead of other strong performers, including its East African neighbours, Kenya and Tanzania, and Namibia and Egypt.

The 2021 Electricity Regulatory Index annual report covered 43 countries, up from 36 in the previous edition and assessed their impact on the performance of their electricity sectors.

It covered three countries in the North Africa region, four in West Africa, six in Central Africa, seven in East Africa and 13 in the Southern Africa region.

Commenting on the report, Kevin Kariuki, the African Development Bank’s Vice President …

• Kenya has committed to fast-track the deployment of renewable energy as a driver for economic development in the country
• KenGen is East Africa’s largest electricity producer and among the top 10 leading geothermal energy producers in the world
• About 86% of KenGen’s installed capacity of 1,818MW comes from renewable and clean energy sources, namely hydro, geothermal and wind

East Africa’s largest economy Kenya has committed to fast-track the deployment of renewable energy as a driver for economic development in the country.

This commitment was made by Monica Juma, Cabinet Secretary, Ministry of Energy during her inaugural visit to Olkaria, Naivasha to inspect and assess KenGen’s geothermal power facilities.

CS Juma said renewable energy is the preferred option for Kenya adding that the move would also help attract foreign investments in Kenya’s energy sector. She was accompanied by Gordon Kihalangwa, the Principal Secretary of the Ministry of Energy.

The CS lauded …

• Accor is expanding its footprint in Eastern Africa by opening the first Mantis property in Kenya
• The Mantis Masai Mara Eco-Lodge will become a highlight property for the brand and the group
• Accor will open the hotel in 2024

Hospitality group Accor which operates more than 400 hotels across India, the Middle East, Africa and Turkey, is expanding its footprint in Eastern Africa by opening the first Mantis property in Kenya.

In a statement, the company said the Mantis Masai Mara Eco-Lodge is set to become a highlight property for the brand and the group, offering direct access to the Mara-Serengeti game reserve: the ideal location for unique safari experiences!

Mantis was founded in 2000 by global entrepreneur and conservationist Adrian Gardiner and featured a diverse collection of extraordinary destinations around the globe.

Since joining forces in 2018, Accor and Mantis have worked together to take on new opportunities to …

Financial services provider Zamara Group has launched Africa’s first pension and savings plan on WhatsApp.

The latest innovation will allow customers to open, access and transact with Zamara’s Fahari Retirement Plan account via WhatsApp.

During the launch, Zamara Group Chief Executive Officer Sundeep Raichura said the development highlighted Zamara’s quest to accelerate and enable digital and financial inclusion in Kenya by providing easy access to financial solutions.

“With a reach of more than 12 million users in Kenya — more than any other app in the country — using WhatsApp we are uniquely positioned to bring more people into the pensions and insurance ecosystem,” said Raichura.

“We will leverage this messaging platform to help address the challenges of financial literacy and deliver micro pensions in Kenya”, added Raichura.

Retirement Benefits Authority Chief Executive Officer Nzomo Mutuku lauded the efforts by Zamara, saying that financial inclusion empowers individuals with the ability …

• Nairobi Securities Exchange (NSE) has launched day trading, allowing investors to buy and sell securities multiple times in a single day
• The NSE will also use day trading to deepen capital markets when turnover and trading activity have remained flat in recent years

Kenya’s Nairobi Securities Exchange (NSE) has achieved a massive milestone after launching day trading, allowing investors to buy and sell securities multiple times in a single day.

The move by the NSE will also increase liquidity at the exchange.

“Day trading means the buying and selling or selling and buying of shares of the same security on the same account on the same day. Day trading is also called intraday trading,” NSE says on its website.

The Central Depository and Settlement Corporation (CDSC) handles trades under day trading, which provides clearing, settlement, and depository services for listed securities.

According to a report filed by Reuters, the Nairobi …

• Uganda is ready to roll out the new lower secondary school curriculum when schools reopen in January 2022
• The government has recruited and deployed 1,598 staff in the newly completed seed secondary schools
• Institutions of learning across Uganda have been closed since March 2020, following a directive by President Yoweri Museveni, in a bid to curb the spread of COVID-19

Uganda’s education sector is on course in rolling out the new lower secondary school curriculum when schools reopen in January 2022.

This is according to the Prime Minister and Leader of Government Business in Parliament, Robinah Nabbanja.

Nabbanja said the government has recruited and deployed 1,598 staff in the newly completed seed secondary schools under the Uganda Inter-governmental Fiscal Transfers Programme.

“The recruitment of the remaining 1,409 posts has also commenced and will be completed in this financial year 2021/2022,” said Nabbanja.

According to the premier, staffing and purchase of …