• 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 …

• The proposed AGOA extension signals a commitment to bolstering trade relations between the US and Africa.
• US Senators Chris Coons and James Risch have introduced the bipartisan Agoa Renewal and Improvement Act of 2024, aiming to integrate AGOA with the AfCFTA.
• Bill aims to refine AGOA’s eligibility criteria, increase transparency, and hold US agencies accountable for their advice to the president: Senator Risch

AGOA extension proposal

The US Congress has proposed extending the African Growth and Opportunity Act (Agoa) to 2041, covering all 54 African countries. Senators Chris Coons of Delaware and James Risch of Idaho introduced the bipartisan Agoa Renewal and Improvement Act of 2024, aiming to integrate Agoa with the African Continental Free Trade Agreement (AfCFTA) to foster intra-African supply chains.

Originally enacted in 2000, Agoa is set to expire next year. However, the proposed extension signals a commitment to bolstering trade relations between the United States and …

• Authorities in South Sudan have imposed a fuel tax on UN fuel tankers, obstructing the delivery of crucial humanitarian aid, jeopardizing assistance to millions of famine-stricken civilians.
• Despite assurances from government officials, including the Minister of Humanitarian Affairs, UN fuel tankers remain detained.
• The impasse is increasingly exacerbating an already dire humanitarian situation in South Sudan.

In a distressing turn of events, UN humanitarian operations in South Sudan targeting famine-stricken populations are at risk of stoppage due to a dispute over a fuel tax levied by South Sudanese authorities on United Nations fuel tankers.

Despite assurances from the Minister of Humanitarian Affairs just a day prior, UN fuel tankers remained detained at depots and the Ugandan border on Wednesday. The Minister had stated that the newly imposed tax on trucks transporting fuel and essential supplies did not extend to UN humanitarian operations, yet the reality proved otherwise, lamented a spokesperson …

• Kenya’s high-interest rates hit 13 per cent in the last review by the Central Bank of Kenya.
• Since mid-2023, however, the World Bank’s index of commodity prices has remained essentially unchanged.
• World Bank reiterates that between mid-2022 and mid-2023, global commodity prices plummeted by nearly 40 per cent.

Kenyan consumers will have to bear the high cost of borrowing for much longer as Central Banks will not loosen their monetary policies any time soon, the World Bank has said.

The lender says the continued tightening will be a result of the prevalent global economic shocks, such as the Middle East conflict, which is threatening to halt the inflationary decline that has occurred in the past two years.

“Global commodity prices are leveling off after a steep descent that played a decisive role in whittling down overall inflation last year,” the World Bank says in its latest commodity markets outlook. “However,

• There is a debt crisis in Africa as countries struggle to repay international loans. 
• According to the World Bank, nine African countries entered 2024 in debt distress, with another 15 at high risk of distress and 14 more categorised as moderate risk.
• According to the United Nations, Africa’s public debt will stay above pre-pandemic levels in 2024 and 2025.

At 4 per cent, Africa is projected to be the second fastest-growing economic region in the world in 2024,  according to a report by the International Monetary Fund (IMF). However, behind the headline figure is a less optimistic reality.

Many African countries have suffered from slow post-COVID-19 recovery, climate change shocks, worsening food security situation, political instability, weak global growth, and high-interest rates. These economic shocks have pushed over 55 million people into poverty since 2020. The situation is increasingly alarming as more than half of the continent’s countries are in …