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- Kenya-Ethiopia Trade Relations: Legislators Advocate for Policy Alignment to Boost Ties
- Visualising the state of debt in Africa 2024
- Abu Dhabi radiates optimism as over 300 startups join AIM Congress 2024
- TLcom Capital Raises $154 million in Funding to Boost Its African Growth
- Africa’s $824Bn debt, resource-backed opaque loans slowing growth — AfDB
- LB Investment brings $1.2 trillion portfolio display to AIM Congress spotlight
- AmCham Summit kicks off, setting course for robust future of US-East Africa trade ties
- Why the UN is raising the red flag on the UK-Rwanda asylum treaty
Africa
- AfDB asks policymakers to put in place an orderly and predictable way of dealing with Africa’s $824Bn debt pile.
- According to AfDB, Africa’s ballooning external debt reached $824 billion in 2021.
- AfDB president says there is urgent need for increased concessional financing, particularly for low-income countries.
Africa’s immense economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries’ future growth, African Development Bank (AfDB) President Dr Akinwumi Adesina has said.
Adesina at the Semafor Africa Summit taking place on the sidelines of the International Monetary Fund and World Bank 2024 Spring Meetings, highlighted the challenges posed by Africa’s ballooning external debt, which reached $824 billion in 2021, with countries dedicating 65 per cent of their GDP to servicing these obligations.
He said the continent would pay $74 billion in debt service payments this year alone, a sharp increase from $17 billion in 2010. “I …
- Meg Whitman, US Ambassador to Kenya, highlights key investment opportunities in Kenya, particularly in the creative industry and clean energy.
- She noted that Kenya has the potential to become the Singapore of Africa through vertical business integration, job creation, innovation, and foreign direct investment.
- AmCham Business Summit 2024 seeks to strengthen bilateral trade and investment between the US, Kenya, and East Africa.
The fourth edition of the regional American Chamber of Commerce Kenya (AmCham) Business Summit, has officially kicked off in Nairobi, Kenya, under the theme, ‘Catalyzing The Future of US-East Africa Trade and Investment’.
This year’s forum underscores AmCham Business Summit as the premier platform for strengthening bilateral trade and investment between the United States, Kenya, and East Africa.
Hosted by the American Chamber of Commerce (AmCham), the two-day Summit has brought together delegates from the United States of America, East and Sub-Saharan Africa in efforts to deliberate and …
- UN faults UK-Rwanda asylum treaty citing concerns on potentially harmful impact on global responsibility-sharing, human rights, and refugee protection.
- Spearheaded by Prime Minister Rishi Sunak, the legislation mandates judges to deem Rwanda as a safe third country.
- With deportation flights slated to start in July, the move is sparking weighty debates over the ethical implications of outsourcing asylum responsibilities.
This week’s passage of the “Safety of Rwanda” Bill by the UK Parliament has triggered alarm bells within the United Nations (UN), with two prominent leaders, Filippo Grandi, the UN High Commissioner for Refugees, and Volker Türk, the UN High Commissioner for Human Rights, raising concerns over its potentially harmful impact on global responsibility-sharing, human rights, and refugee protection.
Spearheaded by Prime Minister Rishi Sunak, the legislation mandates judges to deem Rwanda as a safe third country, paving the way for the deportation of thousands of migrants who have sought refuge …
- Cairo-based lender CIB made this announcement during the first Egypt-Kenya forum held in Nairobi, Kenya.
- Egypt is shifting its economic strategy by enhancing collaboration with sub–Saharan Africa
- Kenya exports tea, coffee, nuts, meat, wheat and flowers, skin and hides as well as live animals to Egypt..
Lender Commercial International Bank (CIB) has identified partnerships as key drivers of growth that will power investments by bringing together businesses seeking to explore Egypt-Kenya trade opportunities.
Kenya’s Prime Cabinet Secretary Musalia Mudavadi says the entry of CIB into Kenya’s market is a major win for Africa’s quest to enhance trade among its 54 member states.
Speaking at the Egypt-Kenya trade forum in Nairobi attended by roughly 40 Egyptian companies drawn from construction, transport, water, tourism, manufacturing and healthcare sectors, Mudavadi said Kenya was at the forefront of opening its market to African countries to boost intra-Africa trade.
“As a government, we will facilitate …
- In Kenya, a concerning 75.4% of women journalists have reported experiencing online harassment.
- Several sub-Saharan African countries have enacted national frameworks, such as the Cybercrimes Act to counter the menace.
- However, while legal frameworks provide avenues for recourse, more proactive measures are needed to combat online violence effectively.
In an era dominated by digital platforms and social media, the rise of disinformation and online harassment poses significant challenges for journalists across the globe.
According to Clarice Wambua, a lawyer at leading corporate and commercial law firm Cliffe Dekker Hofmeyr (CDH) Kenya, this is especially true for women journalists in sub-Saharan Africa, who provide a vital service to society and must not be bullied into silence.
She notes that the pursuit of truth is of utmost importance, but women journalists in Africa often encounter difficult situations. Despite their valuable contributions to the field, they often face different types of harassment, which …
- The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) initiative aims to close the $42 billion financing gap faced by women entrepreneurs, demonstrating that investing in women fosters gender-inclusive economic growth.
- By securing over $1.5 billion in investments for women-led SMEs and providing gender-smart banking training, AFAWA is changing financial institutions’ perceptions and practices, demonstrating the viability and profitability of supporting women entrepreneurs.
- AFAWA’s partnerships and educational programs build a more inclusive financial ecosystem, showcasing the initiative’s commitment to empowering women entrepreneurs and driving sustainable, inclusive economic development across Africa.
The African Development Bank’s Affirmative Finance Action for Women in Africa (AFAWA) aims to invest in women and close the significant financing gap they face. Women entrepreneurs in Africa confront a daunting $42 billion disparity in financing compared to their male counterparts, largely due to misconceptions about their creditworthiness and a lack of collateral. Despite these challenges, …
- Tanzania to earn $400 million annually from tobacco export/sells.
- The country now ranks second largest tobacco producer in Africa after Zimbabwe.
- Tobacco has no known health benefit. On the contrary, it causes disease, disability and premature death. Over 6 million people die globally every year from tobacco-related illnesses.
Tanzania has been ranked as the second-largest producer of tobacco in Africa, falling behind only neighboring Zimbabwe, even as tobacco’s toll worsens globally. The ranking comes after a bumper harvest in the year 2022/2023, as announced by Tanzania’s Minister for Agriculture, Hussein Bashe.
According to the minister, the country’s tobacco production has more than doubled over the last year alone to 122,858 tonnes in FY2023/2024 from 50,000 tonnes earlier.
As of December last year, the export value of tobacco stood at $316 million, and with the increase in output, the minister is confident that this year the country will attain its …
- Every year, the Serengeti wildebeest migration involves the movement of vast herds of gnu, zebras, and gazelles.
- It is a tourism spectacle that sees Tanzania cash in on yearly tourism revenues of roughly $2,250 million.
- Tanzania tourism accounts for more than 14% of the country’s GDP.
Known as one of the greatest shows on earth, the great Serengeti wildebeest migration involves the movement of a huge herd of wildebeest, accompanied by large numbers of zebra, and smaller numbers of Grant’s gazelle, Thomson’s gazelle, eeland, and impala.
This annual spectacle in Tanzania has become a global sensation and is the visual brand of African safaris, making a multibillion-dollar business. According to the Tanzania National Business Council (TNBC) forecast, the share of tourism in the country’s GDP will reach 19.5 per cent in 2025/26.
Besides being a tourism spectacle, the great migration is also crucial to enriching global research and a better
- Mwinyi, who led Tanzania from 1985 to 1995, is remembered for his pivotal role in transitioning the country from the foundational policies of his predecessor.
- Before ascending to the presidency, Mwinyi served in various capacities, including as the Interior Minister and Vice President.
- He also chaired the ruling party, Chama Cha Mapinduzi (CCM), from 1990 to 1996, demonstrating his significant influence in Tanzanian politics.
Tanzania is in mourning given the passing of former President Ali Hassan Mwinyi, who died at the age of 98. President Samia Suluhu Hassan announced the somber news, stating that Mwinyi died on Thursday evening at approximately 5:30pm after a battle with cancer.
Mwinyi, who led Tanzania from 1985 to 1995, is remembered for his pivotal role in transitioning the country from the foundational policies of his predecessor, Julius Nyerere, towards more liberal economic reforms.
His presidency marked the beginning of Tanzania’s shift away from socialist …
