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- 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
- Portugal’s Galp Energia projects 10 billion barrels in Namibia’s new oil find
- Wärtsilä Energy offers tips on how Africa can navigate energy transition and grid reliability
Countries
- 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 …
- Namibia’s Mopane field could hold up to 10 billion barrels of oil, Galp announces.
- Tests on Mopane-1X well in January and the Mopane-2X well in March gave highly promising findings.
- Exploration success in Namibia could pave the way for a new revenue stream for Galp.
Portuguese oil company Galp Energia has set the stage for a potential game-changer in the global energy industry with its announcement at the weekend regarding the Mopane field off the coast of Namibia.
Following the conclusion of the first phase of exploration, Galp projects that the Mopane field could hold up to 10 billion barrels of oil, marking a huge step in the evolving oil and gas industry in Namibia.
Gap noted that testing operations were undertaken at the Mopane-1X well in January and the Mopane-2X well in March gave highly promising findings. The company noted the discovery of significant light oil columns in …
- Kenya’s economic resurgence in 2024 proving a reality following a notable upturn in recent months, marked by positive indicators across sectors.
- According to CBK, leading indicators point to the continued strong performance of the Kenyan economy in the first quarter of 2024.
- According to the World Bank, Kenya’s economic growth is projected to be 5.2 per cent, boosted by increased investment in the private sector as the government reduces its activities in the domestic credit market.
A strong rebound
Kenya’s economic prospects are looking brighter, attributed to the interventions by the World Bank and the International Monetary Fund, which have played a massive role in easing volatility witnessed less than three months ago.
Major economic indicators in the country show that confidence is slowly creeping back after the government secured the International Monetary Fund’s facility to pay back the Eurobond.
The repayments had triggered volatility in financial markets, including the …
- 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 …
- The IMF has approved an expansion of the original economic rescue program for Egypt by $5 billion.
- Spillovers from the recent conflict in Gaza and Israel aggravated the shaky economic situation in Egypt.
- Egypt has recently taken difficult but necessary reforms to correct the country’s microeconomic imbalance.
IMF’s Economic Rescue Program for Egypt
The Executive Board of the International Monetary Fund (IMF) has completed the first and second reviews of Egypt’s Extended Fund Facility (EFF)arrangement, approving an expansion of the original economic rescue program by $5 billion.
The IMF had initially approved a $3 billion loan in December 2022 but has …
- The civil society has opposed Somalia plan to reduce Adult Age to 15
- Under Somalia’s provisional constitution, a child is defined as a person under the age of 18.
- he proposed amendments also include physical development as the determining factor in a person’s majority.
Somalia’s parliament should reject any proposed constitutional amendments that would weaken rights protections for children, Human Rights Watch has said.
On March 30, 2024, both houses of parliament are expected to vote on the proposed amendments, which would reduce the age of majority – increasing the risk of child marriage and lowered juvenile justice standards – and possibly permit certain forms of female genital mutilation.…
- As millions of people in Africa go to bed hungry today, tonnes of food will end up in landfills, too.
- A UN report identifies gaps in Africa’s retail and food service sectors, presenting a significant hurdle in fully understanding the scope of food wastage.
- The UNEP Food Waste Index Report 2024 identifies critical areas where action is needed to address the challenge in Africa.
An estimated one billion meals go to waste every day in Africa and across the world, the UNEP Food Waste Index Report 2024 reveals. The report, which shows food waste continues to hurt the global economy, adds that 783 million people were affected by hunger. In contrast, a third of the worldwide population suffered food insecurity in 2022.
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- Bassirou Diomaye Faye, a former tax collector, is Senegal’s president-elect.
- Faye has promised to embark on a fresh chapter in Senegal’s leadership following months of political violence and arrests of opposition leaders.
- Outgoing President Macky Sall has termed the outcome of Sunday’s vote, which saw his preferred candidate Amadou Ba defeated, a victory for Senegal.
Bassirou Diomaye Faye, a former tax collector, has promised a new chapter in Senegal’s future following his victory in the bitterly contested presidential election in Senegal held on Sunday.
Bassirou Faye, 44, was declared winner having rode on a wave of frustration among the young voters, who are grappling with a high rate of joblessness as well as deep concerns about the current state of governance in the West African country of 18 million people.
Speaking to the nation as president-elect on Monday, Bassirou Diomaye Faye, promised to embark on a fresh chapter in Senegal’s …
- Tanzania has offered the Uganda National Oil Company (Unoc) to use the Dar es Salaam port for oil importation.
- This presents a strategic alternative amid the ongoing importation stalemate between Uganda and Kenya.
- The legal dispute between Uganda and Kenya over oil importation policies is pending before the East African Court of Justice (EACJ), with indications that Uganda may withdraw the case.
Tanzania has stepped forward with an enticing proposition that Kampala finds hard to ignore, especially regarding the ongoing deadlock in Nairobi-Kampala oil imports.
Tanzania has extended an offer to the Uganda National Oil Company (Unoc) to utilise the Dar es Salaam port for its fuel importation needs. This development comes as Uganda explores alternatives in response to Kenya’s steadfast position on Kampala’s oil importation demands.
Uganda’s grievance at the East African Court of Justice (EACJ) remains pending amid these unfolding events, casting a shadow of uncertainty over …
