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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 …
- Across Ghana and Ivory Coast, climate change, illegal mining, cocoa industry woes, and a devastating disease known as swollen shoot have conspired to end West Africa’s cocoa supremacy.
- In Ivory Coast, 30% of cocoa plantations are infected by swollen shoot disease. Upto 600,000 hectares under Cocoa in Ghana are infected, too.
- The crisis in West Africa is offering opportunity to Ecuador, Brazil and Peru to become global cocoa production titans.
A double whammy of a devastating disease coupled with unchecked gold mining activities has set up a storm that is fast threatening to kill West Africa’s Cocoa supremacy.
For decades, Ghana and the Ivory Coast have held the mantle of titans in the cocoa world, jointly supplying over 60 per cent of the beans’ global demand. However, this year’s poor harvest as noted by an exclusive piece by Reuters, could spark a seismic shift in the cocoa production industry, …
- China Henan International Cooperation failed to to disclose the use of a commission agent while submitting a bid.
- The ban on Chinese firm reflects broader concerns about the nature of China-Africa economic relations.
- The move follows the conclusion of a negotiated settlement agreement with the Chinese company.
The African Development Bank (AfDB) has suspended Chinese firm, China Henan International Cooperation Group Company Limited, from undertaking any contracts in Africa for the next one year.
The move follows the conclusion of a negotiated settlement agreement with the Chinese company putting an end to sanctions proceedings for a fraudulent practice against China Henan International Cooperation.
In the directive, pursuant to the negotiated settlement agreement, China Henan International Cooperation Group Company Limited, registered in China, will be debarred for a period of 12 months, effective 28 March 2024.
“An investigation conducted by the Office of Integrity and Anti-Corruption of the African Development Bank …
- New investment in Tanzania’s railways sector is expected to directly benefit nearly 900,000 people and indirectly impact an estimated 3.5 million.
- Tanzania operates two railway systems, totaling 3,682 km in length.
Tanzania railway sector is poised for immense growth as the World Bank poured significant funding by approving $200 million in financing from the International Development Association (IDA) which is a part of the bank.
According to available information from the World Bank statement made on Friday, the bank said the financing for the second phase of the Tanzania Intermodal and Rail Development Project (TIRP-2) will improve safety, climate resilience, and operational efficiency along this railway segment.
Read also: AfDB approves $696.4M financing for Tanzania-Burundi-DRC railway project
Tanzania railway plan anchored on Dar- Morogoro SGR
The funding comes a few weeks after Tanzania Railways Corporation (TRC) began its inaugural trial journey of the electric Standard Gauge Railway (SGR) train …
- If oil disappeared tomorrow, thousands of petroleum-based products would vanish with it.
- If oil disappeared tomorrow, it would be catastrophic for health services everywhere.
- If oil disappeared tomorrow, millions of jobs would be lost. Tax revenues would be depleted, and industrial production would crimp.
If oil disappeared tomorrow, there would be no more jet fuel, gasoline, or diesel. Internal combustion engines, automobiles, trucks, lorries, and coaches would be stranded. Airplanes powered by jet fuel would be grounded. Freight and passenger rail powered by diesel would halt. People could not get to work; children could not get to school. The shipping industry, transporting both freight and passengers, would be devastated.
There would be no point in calling emergency services. Most ambulances, fire engines, police cars, rescue helicopters, and other emergency vehicles would be stationary. Most phones and computers would also vanish as their plastic components derive from oil, so it would …
- Uganda’s diaspora remittances have seen 13.4% jump, reaching $1.42 billion.
- Remittances continue to outshine foreign direct investment and official development assistance as the primary source of external finance for low and middle-income countries.
- Economies are leveraging diaspora remittances through innovative financial instruments such as diaspora bonds and policies aimed at financial inclusion to enhance their impact on development.
Diaspora remittances from Ugandans living and working abroad increased by 13.4 per cent in the 12 months ending January 2024. This surge, as reported by the Bank of Uganda’s Executive Director of Research, Mr. Adam Mugume, highlights the increasing role of diaspora inflows in the nation’s economy, reaching $1.42 billion, up from the previous $1.25 billion.
Such growth underscores the essential contribution of the Uganda’s diaspora remittances amidst a challenging global financial landscape.
Globally, remittances have emerged as a critical source of external finance for low- and middle-income countries (LMICs), overshadowing foreign …
- Hormuud Telecom has launched the 5G network across Somalia, enhancing the speed of internet and communication.
- This marks a significant leap towards a digitally inclusive society with reliable internet connectivity in the country.
- A 5G networks is set to stimulate economic growth, create jobs, and revolutionize public services such as healthcare and education.
Hormuud Telecom has unveiled its 5G network, marking a historic moment for its main market Somalia, which now enters into the elite group of African nations such as Kenya and Ethiopia that have embraced this cutting-edge technology.
Hormuud Telecom 5G signal is now present across 30 cities and towns, promising to revolutionize the speed of the internet and communication and transform Somalia’s digital economy.
Enhancing Communication with 5G Technology
The introduction of the 5G network by Hormuud Telecom signifies a monumental leap in improving internet connectivity’s speed and reliability across Somalia. President Hassan Sheikh Mohamud, along …
