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- Leveling the Financial Playing Field for Africa
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- With a big herd, Tanzania projects strong meat exports
- All hands on deck to drive up insurance in Tanzania
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- The primary purpose of the OAU was to promote the unity and solidarity of newly independent African states.
- Agenda 2063 is an economic master plan to transform Africa into a global powerhouse within the next decades.
- The AfCFTA is the world’s largest free trade area that unites an entire continent and eight Regional Economic Communities.
Every year on 25th May, the world celebrates Africa Day, a special occasion that commemorates the foundation of the continent’s most development-oriented organization, the African Union.
African Union has been advocating for continuous economic development and has achieved notable milestones. To commemorate Africa Day, we shall be taking you down memory lane highlighting AU’s role in championing the continent’s growth.
Flashback: the journey to Africa Day
At the height of political and social freedom, 32 African countries met on 25th May 1963 in Addis Ababa, Ethiopia, to form a front for economic and political growth …
- In the three months to March 2023, Group’s total assets rose by 39.8 percent to close at $11.8 billion buoyed by DRC subsidiary TMB.
- Revenue increased by 26.9 percent to $267.4 million mainly driven by the non-funded income from customer transactions across the Group.
- This is the Group’s newest subsidiary in the Democratic Republic of Congo.
- It demonstrated the range and diversified income streams across the group’s businesses, adequate to cover the elevated operating and funding costs.
Regional lender KCB Group Plc posted $68.8 million in profit after tax for the first quarter 2023, a marginal drop attributable to acquisition and consolidation costs of its newest subsidiary, Trust Merchant Bank (TMB), in the Democratic Republic of Congo.
In the quarter, however, the Group recorded a strong balance sheet growth with total assets hitting $11.8 billion, with TMB contributing 14 percent to the Group’s total assets. The bank said this was …
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Energy multinationals Shell, Equinor, and ExxonMobil have finalised vital talks on Tanzania’s $40 billion Liquified Natural Gas investment.
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The move paves the way for final agreement on how to execute the long-delayed energy project that will significantly boost Tanzania’s revenues and create jobs.
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President Samia Suluhu Hassan’s government expects the construction of the project to start in June 2025.
Tanzania is preparing the final deal to guide harnessing her $40 billion offshore gas reserves following the conclusion of talks with energy giants Shell, Equinor, and ExxonMobil. A final agreement on the $40 billion gas investment is in the works with signing expected in the coming weeks.
“The work is done… companies (IOCs) have gone to sit with their boards, and we are now awaiting the next steps. The government expects construction to start in June 2025” Managing Director of the Petroleum Upstream Regulatory Authority (PURA), Charles Sangweni, said the project’s …
A report by The Women in Tech Africa Summit 2019 showed that despite receiving 50 per cent less venture capital funding, global technology firms led by female entrepreneurs typically achieve a 35 per cent higher return on investment than those managed by men.
In the first half of 2021, African startups raised US$1.19 billion. However, female CEOs raised just 14 per cent of the financing, up from 2 per cent for the same period in 2020.
The African Development Bank puts the funding gap for women entrepreneurs in Africa at US$42 billion.
This should encourage more investors to take a gamble on women-led businesses in Africa’s tech space as they offer promising returns.
Women in tech on the continent not only drive significant development in the African tech space, but they also simultaneously inspire young girls venturing into tech across the continent to do the same. …
- President Uhuru Kenyatta has ordered a countrywide security crackdown to weed out rogue boda boda operators from the sector following the recent assault of a female motorist
- Kenyatta said that he had instructed the country’s security apparatus to clamp down on rogue boda boda cyclists and ensure perpetrators of the heinous act are brought to book
- President Kenyatta also ordered a new registration of all boda boda operators in the country as part of measures to restore order in the sector
President Uhuru Kenyatta has ordered a countrywide security crackdown to weed out rogue boda boda operators from the sector following the recent assault of a female motorist along Wangari Maathai Road Nairobi County.
Describing the incident as disheartening, the President said that he had on Monday evening instructed the country’s security apparatus to clamp down on rogue boda boda cyclists and ensure perpetrators of the heinous act are brought …
- A new finding now shows that women are now taking the lead in the transformation of Africa as the continent makes tremendous progress driving gender parity
- Zuri Foundation Chief Executive Officer Norah Muthoni Mumo said the past three years have seen an increase in women’s participation in societal transformation
- Accelerating progress towards gender parity could boost African economies by the equivalent of 10 per cent of their collective GDP by 2025
A new finding by Zuri Foundation indicates that women are now taking the lead in the transformation of Africa as the continent makes tremendous progress driving gender parity.
Zuri Foundation Chief Executive Officer Norah Muthoni Mumo said the past three years had seen an increase in women’s participation towards societal transformation in various fields, including political leadership, senior managerial positions, entrepreneurship, and sports and culture.
“More women are now in political leadership positions; women in corporate boards in Kenya …
- Moderna has announced plans to build a manufacturing facility in Kenya
- The firm’s CEO, Stéphane Bancel, said the ‘mRNA’ facility would produce up to 500 million doses of vaccines each year
- Kenyan President Uhuru Kenyatta witnessed the signing of a memorandum of understanding between Kenya and the company to establish the first mRNA manufacturing facility in Africa
American pharmaceutical and biotechnology company Moderna has announced plans to build a manufacturing facility in Kenya.
On Monday, March 7, 2022, Kenyan president Uhuru Kenyatta witnessed the signing of a memorandum of understanding between Kenya and the company to establish the first mRNA manufacturing facility in Africa.
The firm’s CEO, Stéphane Bancel, said the ‘mRNA’ facility would produce up to 500 million doses of vaccines each year.
The company said it would invest up to $500 million in the new facility, which will focus on drug substance manufacturing on the continent of Africa …
- The fifth session of the United Nations Environment Assembly (UNEA-5.2) resolved to end plastic pollution and forge an international legally binding agreement by 2024
- The agreement will hold nations, businesses, and society accountable for eliminating plastic pollution from the environment
- UNEP) Executive Director Inger Andersen described the agreement as the most important international multilateral environmental deal since the Paris climate accord
This week was a win for climate change after the fifth session of the United Nations Environment Assembly (UNEA-5.2) resolved to end plastic pollution and forge an international legally binding agreement by 2024.
The agreement will hold nations, businesses, and society accountable for eliminating plastic pollution from the environment.
After the passing the landmark resolution in Nairobi, UN Environment Programme (UNEP) Executive Director Inger Andersen described the agreement as the most important international multilateral environmental deal since the Paris climate accord.
Representatives, including heads of state, from 175 countries, …
- Women in Sub-Saharan Africa continue to struggle due to the negative impact of climate change
- A United Nations report noted that climate change has a growing impact on the African continent, hitting the most vulnerable the hardest and contributing to food insecurity
- Fast forward to 2022, the Horn of African countries are facing drought, with data showing that 12 to 14 million are at risk, owing to an extended period of lack of rains that driving acute food insecurity
- The AllAfrica Global Media Group says it is bringing key stakeholders under one roof on a virtual panel under the theme: “Gender equality for a sustainable future”
As the world prepares to mark International Women’s Day on March 8, 2022, several data reveals that women in Sub-Saharan Africa continue to struggle due to the negative impact of climate change.
In a 2020 report, the United Nations Climate Change noted that climate …
