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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 …
Private sector players in the region have expressed optimism in making steps towards the recovery of Covid-19.
This follows a commitment by the East African Community Secretariat to prioritize strengthening public-private sector partnerships between the private sector in the region and the EAC Partner States governments, to jointly invest in vaccine manufacturing in the region.
The EAC Secretary-General, Dr Peter Mathuki said that there was a need for a coordinated approach in handling COVID-19 in the region and emphasized the need for local production of vaccines.
“EAC is working on strengthening partnerships between the private sector and EAC Partner States’ governments, to jointly establish an investment in vaccine manufacturing, to ensure the region can produce and avail vaccines to East Africans. Truck drivers transporting goods across the region should also be included among the priority groups who need to be vaccinated,” Dr Mathuki said.
Mathuki also noted that the EAC …
Kenyan-based low-cost carrier Jambojet has announced plans to begin operations to North Kivu Capital, Goma in the Eastern Democratic Republic of the Congo, as well as to the Kenyan coastal island of Lamu.
In a statement, the carrier says the move is part of its expansion program, at a time when the coronavirus pandemic continues to have a devastating impact on the aviation sector in the region as well as across the world.
The company said its inaugural flight to Goma will be on 10th September 2021, starting with 2 frequencies weekly, with flights expected to grow to 4 frequencies weekly, flying on Monday, Wednesday, Friday, and Sunday.
The airline announced that it will be flying to Lamu 4 times weekly, starting 15th September 2021.
Commenting on the announcement, Jambojet Board of Directors Chairman Vincent Rague said the expansion plan has been in motion for 3 years.
“Three years ago, …
Imperial (www.Imperiallogistics.com)is pleased to advise that in F2019 and F2020, it created value of R146 billion ($10.23 billion) and R98 billion ($6.86 billion) for its stakeholders and communities in Nigeria and South Africa respectively, as confirmed by a recent Socioeconomic Impact Assessment study undertaken by Accenture.
“Imperial plays a key role in connecting Africa and the world and improving people’s lives with access to quality products and services. As a purpose-driven organisation with Environmental, Social and Governance imperatives embedded in our business strategy all our businesses remain committed to not just creating but sustaining value for all our stakeholders across our 25 countries of operation”, says Mohammed Akoojee, Imperial’s Group CEO. “We take a holistic approach regarding value creation wherein value is created not only for Imperial but also for other stakeholders in the value chain, including the development of our communities and countries of operation.”
In assessing …
The Board of Governors of the International Monetary Fund has approved a general allocation of Special Drawing Rights (SDRs) equivalent to US$650 billion (about SDR 456 billion), to boost global liquidity.
In a statement, IMF Managing Director Kristalina Georgieva termed the move as historic, adding that it is the largest SDR allocation in the history of the IMF.
The SDR is an international reserve asset created by the IMF to supplement the official reserves of its member countries.
The IMF adds that SDR is not a currency, but has a potential claim on the freely usable currencies of IMF members. As such, SDRs can provide a country with liquidity.
“Special Drawing Rights (SDRs) are an asset, though not money in the classic sense because they cannot be used to buy things. The value of an SDR is based on a basket of the world’s five leading currencies – the US …
Ride-hailing firm Bolt has raised $713 million in fresh funding.
In a statement, the European firm says it will use the funds to accelerate the expansion of its existing mobility and delivery products across its markets.
“The funds will go into expanding the company’s network of ride-hailing services, food delivery and micro mobility in Africa and Europe,” the company said.
According to the firm, these include investments towards enhancing safety features on the platform for drivers and riders, deepening vehicle ownership initiatives, driver and courier empowerment and sustainability projects.
Bolt will also use the funds to boost its new under 15-minute grocery delivery service, Bolt Market recently launched in Europe.
The new investment round now values Bolt at about $4.75 billion, which is more than double its last private valuation of $2 billion.
The funds were backed by new investors who include Sequoia, Tekne and Ghisallo, as well as Bolt’s …
A new report has revealed that biases in the estimation of solar production in Africa can lead to up to a 20 percent reduction in savings for African businesses.
This is according the Measuring Solar Irradiation in Africa: A case for change by CrossBoundary Energy which adds that such biases also cause between 1 and 2 percent reduction in the internal rate of return for solar developers and investors.
The report also indicates current methods that the solar industry uses for estimating solar production across the continent are unreliable.
Commenting on the report, Lenny Matei, co-author and Senior Project Engineer at CrossBoundary Energy, says that for most commercial and industrial (C&I) clients, a major factor in awarding projects is the electricity tariff and resulting savings offered.
Unilever and CrossBoundary Energy unveils 619 kWp solar plant in Kenya
He added that an often-overlooked factor is the estimated solar irradiation on site …
