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- Kenya, Tanzania braces for torrential floods as Cyclone Hidaya approaches
- EAC monetary affairs committee to discuss single currency progress in Juba talks
- Transport and food prices drive down Kenya’s inflation to 5% in April
- Payment for ransomware attacks increase by 500 per cent in one year
- History beckons as push for Kenya’s President Ruto to address US Congress gathers pace
- IMF’s Sub-Saharan Africa economic forecast shows 1.2 percent GDP growth
- The US Congress proposes extending Agoa to 2041, covering all African countries
- Millions at risk of famine as fuel tax row halts UN aid operations in South Sudan
Africa
- Kenya and Tanzania, already reeling from nature’s fury, now confront the looming threat of Cyclone Hidaya.
- Cyclone Hidaya’s trajectory places the eastern coast of Tanzania squarely in its crosshairs as neighbouring Kenya braces for floods.
- The relentless deluge gripping East Africa finds its origins in the El Nino weather pattern.
Millions of people in Tanzania and Kenya are on edge as Cyclone Hidaya, a formidable tempest, barrels toward the region, exacerbating the havoc wrought by ongoing heavy downpours and catastrophic floods that have claimed hundreds of lives across East Africa.
Kenya and Tanzania, already reeling from nature’s fury, now confront the looming threat of a cyclone poised to unleash further devastation, with forecasts predicting a grim landfall later on Friday, May 3rd.
At the moment, Cyclone Hidaya’s trajectory places the eastern coast of Tanzania squarely in its crosshairs, with fears mounting over its potential impact on neighbouring Kenya. As …
- US Congress members ask Speaker Mike Johnson to invite President Ruto to address the assembly.
- President Ruto will be visiting the US on May 23 to mark 60 years of US-Kenya diplomatic ties.
- If invited, President Ruto would become the first Kenyan Head of State to address a joint session of US Congress.
In a historic plan highlighting the deepening ties between the United States and Kenya, House Foreign Affairs Committee chairman Michael McCaul (Republican – Texas) and Ranking Member Gregory Meeks (Democrat – New York) have jointly sent a letter to Speaker of the House Mike Johnson (Republican – Los Angeles, asking him to extend a formal invitation to President William Ruto of Kenya to address a joint session of Congress during his upcoming visit to the US, slated later in May.
“This year, we are celebrating the historic 60-year anniversary of the U.S.-Kenya diplomatic relationship. Such an invitation …
- The IMF has identified South Sudan, Burundi, and the DRC as East African Community member states poised for significant economic growth in the 2024–2025 period.
- GDP growth in Burundi is projected to increase from 4.3 to 5.4 percent and in the DRC from 4.7 to 5.7%.
- Kenya leads regionally with a projected GDP of $104 billion, ranking 7th overall among the continent’s largest economies.
The economic outlook for East African Community member states South Sudan, Burundi, and the Democratic Republic of the Congo (DRC) is poised for significant economic growth in the 2024–2025 period. This prognosis by the International Monetary Fund (IMF) comes despite these nations grappling with conflicts, marking them as among the most fragile in the region.
In its latest regional economic outlook report for Sub-Saharan Africa, the IMF forecasts a noteworthy 1.2 percent gross domestic product (GDP) growth for South Sudan, from 5.6 to 6.8 percent, despite …
- World Bank reports that insect farming could provide over 14 per cent of the crude protein needed to rear all the pigs, fish, poultry and goats in Africa
- Dorte Verner, a Lead Economist at World Bank, says that it is possible to feed all people in the world with nutrient-rich insects and decrease the environmental impact of food and agriculture
- The population of Africa could hit 2.53 billion people by 2050, and the demand for food and protein would increase significantly, which the current linear food system might not satisfy
Most people see insects as ugly, dirty and irritating creatures that are only good at transferring germs. However, according to the World Bank, insects farming could answer Africa’s poverty, hunger and ecological crisis.
Despite their dirty nature, insects have a pack of great nutritional value, and the world could use them to tackle malnourishment in the continent, especially in children.…
Findings show that increasing costs in every market due to a year of supply disruption did not deter data centre demand in most markets including Nairobi and Johanessburg.
The two African capitals were among 44 other locations that were surveyed.
According to the study, despite the negative impact of the coronavirus pandemic, demand remained relatively steady when compared to other industries owing to governments’ decisions to make working and schooling from home mandatory. …
- Data by the World Bank reveals that at least a quarter of the African population has internet access, a nearly fifty-fold increase in internet usage since 2000.
- The rapid spread of the internet across the African continent has been lauded as a key driver of prosperity and a sign of the continent’s technological coming of age.
Over the past few years, the wealth management industry has seen a significant amount of diversification, from traditionally having products geared towards institutional investors and high net worth individuals to offering more accessible products to low and middle-income earners.
While WealthTech is not a new concept in Africa, there is room for market players to leverage consumer demand for wealth management products that are more digitally accessible and easy to use.
WealthTech or wealth management technology is the combining of technology such as AI, big data, SaaS, with financial assets, such as savings, investments, …
The programme will facilitate access to the Royal Academy’s global network of experienced, high-profile and business experts, in addition to access to the alumni network upon completion of the programme.
Moreover, 2022 is the programme’s second consecutive year to render a digital experience, with rigorous support provided through person-to-person and group discussions.
Four finalists will pitch their revised and improved innovations and business plans to the judges in the presence of a live audience.…
The recent leaked Pandora papers have shown how African leaders have directed their investments towards other countries and kept the investments a secret to avoid taxation and hide their wealth.
Leaders exposed by the papers include Presidents Denis Sassou-Nguesso of DRC, Uhuru Kenyatta of Kenya, and Patrick Achi of Cote d’Ivoire, among 46 other politicians.
The papers showed that Sassou owned a company that controlled diamond mines. Seven members of the Kenyatta family were linked to at least seven offshore companies and foundations. Through Union Banque Privée (UBP), the Kenyatta’s set up three foundations to avoid inheritance tax and hide their extensive wealth.
The foundations were suspended after failing to pay annual taxes, law firm Algocal says.…
In 2004, Mittal Steel was founded following the merger of Ispat International and LNM Holdings, and the simultaneous acquisition of International Steel Group, becoming came the world’s leading steel producer.
Shortly after, in 2006, Mittal Steel launched an ambitious bid to merge with Arcelor, creating ArcelorMittal.
Lakshmi Mittal has done very well, and it leaves little doubt in the mind that he has enjoyed a very gratifying career replete with success in business if his personal bank account is anything to go by together with numerous recognitions of his work in philanthropy and his contribution to the steel industry.…
