Author: Wanjiku Njugunah

The East African Community (EAC) and Germany have signed Agreements on technical and financial cooperation worth up to USD 35 million in the areas of integrated water resource management, economic integration and pandemic preparedness.

The Ambassador of the Federal Republic of Germany to Tanzania, Regine Hess and the Secretary-General of the East African Community (EAC) Peter Mathuki signed technical and financial cooperation worth up to USD 35 million between the Government of the Federal Republic of Germany and the East African Community (EAC).

These agreements pave the way for the implementation of three new joint development projects.

The first technical cooperation project worth USD 3.8 million will be launched in January 2022 and aims at strengthening the capacities of the Lake Victoria Basin Commission (LVBC) to fulfil its mandate in the areas of Integrated Water Resource Management (IWRM).

This includes; to improve horizontal cooperation between LVBC, the water administrations …

Sub-Saharan Africa electric vehicle manufacturer Opibus has raised $7.5 million in funding led by Silicon Valley fund At One Ventures, further supported by Factor[e] Ventures and Ambo Ventures managed by former Google and Uber executives.

The investment is the largest ever in an electric mobility company in Sub-Saharan Africa and is aimed to scale its
operations in electric motorcycle and bus manufacturing.

Opibus, which has existing customers across 6 countries in Africa, is the leading provider of electric vehicles designed and manufactured locally. Its vision is to create reliable and cost-effective products designed for the pan-African mass market.

With several vehicles in different categories deployed, Opibus has reduced customer CO2 emissions by 94% and operational expenditures by more than 60%.

The company has a unique approach to both heavy electric vehicles and electric motorcycles. The proprietary powertrain enables existing heavy commercial vehicles such as buses and trucks to be converted …

• Livestock farmers in sub-Saharan Africa are struggling with an incessant price rise of animal feeds
• The incorporation of human foods, such as fish and meat, within conventional animal feeds, has put a strain on their availability
• The Insect Feed for Poultry, Fish and Pig Production (INSFEED) project has been exploring the use of insects, such as black soldier flies (BSF) and crickets, within animal feeds

Livestock farmers in sub-Saharan Africa have grappled with an incessant price rise of animal feeds in recent years – caused by the scarcity and high cost of ingredients, namely, cereals, soybean, and fishmeal.

The incorporation of human foods, such as fish and meat, within conventional animal feeds, has put a strain on their availability. As a result, feeds constitute an estimated 70 per cent of input costs in poultry and fish production.

This comes at a time when the Food and Agriculture Organization of the …

• Equity Group has reported a 79% growth in profit after tax for the third quarter of the year to KSh 26.9 billion
• Mwangi said the performance was against a background of the COVID-19 pandemic and its consequent disruption of global economic activities with the resultant social disruptions

Regional banker Equity Group has reported a 79% growth in profit after tax for the third quarter of the year to KSh 26.9 billion.

The group’s Chief Executive James Mwangi said the performance was against a background of the COVID-19 pandemic and its consequent disruption of global economic activities with the resultant social disruptions.

He added that the bank had demonstrated a resilient, versatile business model, leadership agility, innovation and diversification capability and strength of strategy to report a 27% growth in total assets and a 25% growth in total income.

At the same time, the group’s resilience in the execution of an …

• Health Cabinet Secretary Mutahi Kagwe said the country is engaging its partners as part of ongoing efforts to develop comprehensive strategies to deal with emerging health challenges
• Former British Prime Minister Tony Blair pledged to support Kenya’s health agenda including expanding internet connectivity among rural communities through his foundation as well as global contacts

Kenya is seeking progressive partnerships as it seeks to adopt new technologies aimed at improving healthcare delivery in the country.

This is according to Health Cabinet Secretary Mutahi Kagwe who said the country is engaging its partners as part of ongoing efforts to develop comprehensive strategies to deal with emerging health challenges.

He made the remarks while he spoke to former British Prime Minister Tony Blair on the sidelines of the second edition of the European Corporate Council on Africa and the Middle East on November 5.

“Kenya has been prioritizing modernizing its healthcare systems as …

• KRA commenced the new financial year on an upward trajectory after surpassing its July – September 2021
• Customs & Border Control (C&BC) collected KSh 57.374 Billion against a set target of KSh 51.200 Billion

Kenya Revenue Authority (KRA) collected KSh154.383 Billion in the month of October 2021 against a target of KSh142.285 Billion, recording a performance of 108.5% and a growth of 23.2%.

This follows a similar positive performance of Quarter Two of the Financial Year 2021/22.

KRA commenced the new financial year on an upward trajectory after surpassing its (July-September 2021) target of KSh461.653 Billion by KSh15.053 Billion, recording a 30.0% growth.

Read: Diaspora remittances a lifeline to investments growth in Somalia

This implies that cumulatively KRA realized collections of KSh 631.090 billion for the period July – October 2021 against a target of KSh 603.939 billion, translating to a performance rate of 104.5%, a growth of 28.3% and …

• Tech hub startups are among the businesses growing immensely in Somalia
• There has also been an increasing number of potential businesses coming up in Somalia, brought about by the increased growing economy

Investment opportunities in Somalia are on the rise, driven by increasing diaspora remittances.

This is according to various experts among them Silicon Horn co-founder Awil Osman who emphasized the need of using remittances to grow the startup ecosystem in the country.

“Tech hub startups are among the businesses growing immensely in Somalia. There are now more than 15 of them. The startup ecosystem is rapidly going regional,” Osman said.

Commenting on the same, Pangea Trust Managing Director Anne Lawi said that there has been an increasing number of potential businesses coming up in Somalia, brought about by the increased growing economy.

“We see the potential to increase the share of remittances set aside as investments to 25 per …

• MTN Uganda has been given a go-ahead to market its IPO to Kenyan investors
• The MTN Uganda IPO offers for sale 4.4 billion ordinary shares, accounting for a 20% stake of the company, at a price of UGX 200.00 per share
• All East Africans who apply for shares will receive 5 bonus shares for every 100 shares they are allocated

Kenya’s Capital Markets Authority (CMAK) has provided its ‘no objection’ for The MTN Uganda Initial Public Offering (IPO) to be marketed in Kenya, allowing the marketing of the shares to both Professional Investors and Retail Investors following the opening of the offer in Uganda on 11th October 2021.

In a statement, MYN Uganda says the marketing in Kenya will be spearheaded by SBG Securities, and Dyer and Blair, both of whom are licensed market intermediaries in Kenya, working in collaboration with their respective affiliates in Uganda.

SBG Securities Uganda Limited …

• Digital media entrepreneurs are producing ground-breaking journalism and achieving a significant impact on their societies
• African media entrepreneurs achieved civic engagement, criminal investigations, and changes in the law through their articles
• The researchers found that more than 85% of the media interviewed had contributed to significant political and societal changes

A new report has revealed that digital media entrepreneurs are producing ground-breaking journalism and achieving a significant impact on their societies, despite often tiny budgets and constant online threats and attacks.

The Inflection Point International report indicates that more than 85% of the media interviewed had contributed to significant political and societal changes.

SembraMedia, a non-profit that supports entrepreneurial journalists, published the report in partnership with the global philanthropic organisation Luminate.

It carried out more than 200 international interviews and interviewed 49 independent digital native media organisations in African countries, namely: Ghana, Kenya, Nigeria and South Africa.

Civic engagement 

According …

• Kenya’s headline figure climbed to 51.4 in October, from 50.4 in September.
• Readings above 50.0 signal an improvement in business conditions on the previous month.
• The increase was largely driven by the normalization of business spending following pandemic-related measures.

The Kenya Purchasing Managers’ Index ticked higher in October, as output growth strengthened for the first time in five months and new business continued to grow.

According to the Markit Stanbic Bank Kenya survey, the country’s headline figure climbed to 51.4 in October, from 50.4 in September.

Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.

During the period, new business volumes continued to rise, extending the current run of growth that began in May.

For the first time in five months, the seasonally adjusted Output Index ticked higher in October, thus signalling a faster expansion in Kenyan business activity.…