As Africa’s role in the global economy continues to garner prominence, it’s imperative for the continent to seal the gaping hole in its power supply.

Lack of universal power access remains a major roadblock that has retrogressed industrialization and socio-economic development. Statistics from the World Bank indicate that Africa remains the least electrified region in the world, with 568 million people lacking access to electricity.

The Bretton Woods institution, further notes that the Sub-Saharan Africa’s share of the global population without electricity, jumped to 77 per cent in 2020 from 71 per cent in 2018, whilst most regions saw declines in their share of access deficits. It has become a Hobson’s choice for African governments to prioritize the power sector, which is the epicenter of industrialization, working towards Goal 7 of the UN SDGs; which advocates for universal access to affordable, reliable and modern electricity services.

Currently, Africa’s power is …

In addition to the Best Bank CEO in Africa award to Muriuki, the EMEA Awards also awarded the Best Bank in Kenya Award to the Co-operative Bank, and the Best Asset Manager award to Co-opTrust Investment Services Limited, a wholly-owned subsidiary of Co-op Bank.

With Kshs 181billion in assets under management, Co-op Trust is one of the largest and most successful locally-owned asset management firms in Kenya.…

• Bar and restaurant operators in Kenya have pledged to abide by the protocols to limit the spread of Covid-19
• They have also offered to have their establishments become vaccination centres following the reopening of their establishments 

Bar and restaurant operators in Kenya have pledged to abide by the protocols to limit the spread of Covid-19 and offered to have their establishments become vaccination centres following the reopening.

The operators’ associations have also asked revellers to abide by the rules to avoid a resurgence of infections that would force the Government to come up with the restrictions that have hampered operations since March 2020.

“The hospitality sector has gone through one of the darkest periods in the history of Kenya,” said Frank Mbogo, the chairman of the Nairobi branch of the Pubs, Entertainment and Restaurants Association of Kenya.

The operators said the lifting of the curfew by President Uhuru Kenyatta and …

• The eight agreements cover broad areas of cooperation between Kenya and Malawi including politics, diplomacy, defence, fisheries and aquaculture among others 
• Kenyatta said collaboration and consolidation of ties between the two countries would guarantee socioeconomic growth of their citizens
• Previously, Kenyan industrialists have said they are seeking trade linkages that will allow them to establish joint ventures with Malawians

Kenya and Malawi have entered into new bilateral relations by signing eight new agreements designed to strengthen socioeconomic bonds between the two nations.

The agreements were signed on October 22 at State House, Nairobi at the end of bilateral talks between Kenyan and Malawian delegations led by President Uhuru Kenyatta and his Southern Africa counterpart Lazarus Chakwera.

The eight agreements covered broad areas of cooperation between Kenya and Malawi in politics, diplomacy, defence, fisheries and aquaculture as well as cooperative development. Others are technical cooperation in health and tourism. (midwaymoving.com…

• The Africa Pulse report notes that Sub-Saharan Africa exits recession this year, but recovery is still timid and fragile
• It adds that the region is reforming, and notes that what is most needed to boost and sustain economic recovery is financing

The World Bank now says that Sub-Saharan Africa is set to emerge from the 2020 recession sparked by the COVID-19 pandemic with growth expected to expand by 3.3 per cent in 2021.

This is one per cent higher than the April 2021 forecast according to its latest edition of Africa’s Pulse.

The bank said that the rebound is currently fueled by elevated commodity prices, a relaxation of stringent pandemic measures, and recovery in global trade.

“Commodity prices remain well above their pre-pandemic levels, with several reaching all-time highs. Oil prices rose above their pre-pandemic levels in the first half of 2021 but have plateaued more recently due to demand …

Kenya’s Purchasing Managers’ Index (PMI) fell from 51.1 in August to 50.4 in September, signalling an overall improvement in operating conditions.

The PMI survey commissioned by Stanbic Bank indicated that the pace of improvement was marginal and was the weakest seen in the current five-month sequence of growth.

During the month, output and new orders rose, driven by a continued recovery in demand from the strict lockdown earlier in the year.

Exports were also a key source of growth, as foreign orders increased at the fastest rate since October 2020.

Business activities in Uganda continue to rise

Impact of Fuel Hike

The survey found that a rise in living costs had weakened consumer spending, leading to a softer – and only marginal – rate of total sales growth.

Subsequently, the rate at which business activity expanded was the slowest seen since the return to growth
following April’s lockdown-induced decline.

The …