Tuesday, March 19

Industry and Trade

universities
  • Eight Kenyan universities have been selected as part of the World Bank’s $55.8 million SME formalisation project.
  • In the World Bank plan, 267 young innovators’ students, 10 incubators, 10 accelerators, and 4 tech boot camp providers will be funded.
  • The SKIES initiative started with a call for applications that attracted a total of 142 incubators.

Eight Kenyan universities have been selected as part of the World Bank’s $55.8 million (KES7.5 billion) SME formalisation project to provide business development services to micro, small and medium enterprises. Kenya Industrial Entrepreneurship Project will implement the program through the Strengthening Kenya’s Innovation Ecosystem (SKIES).

The government, through SKIES, a subcomponent of the Sh7.5 billion (KIEP) project, seeks to streamline the delivery of professional business development services, thereby enabling innovators of small and medium enterprises to get the proper business training when required.

The absence of a uniform platform to oversee the start-up ecosystem in …

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community health workers Kenya
  • Kenya has already enlisted over 107,831 community health workers through the Ministry of Health.
  • The target cohort of 25,000 will be trained in the first phase, according to the Resilient and Empowered African Community Health (REACH) initiative.
  • REACH will be implemented in phases, aiming to boost skills of the 107,831 community health workers employed by the Government.

Kenya has launched a community health initiative supported by the African Union geared to boosting primary health care at the grassroots, targeting under-served populations.

The programme, under the auspices of the African Union (AU) Member States, is known as Resilient and Empowered African Community Health (REACH) and is geared towards increasing Community Health Workers (CHWs) to over two million in the continent by  2029.

Under the first phase of the initiative, over 25,000 CHWs newly recruited in Kenya will be trained on community health and on the use of Community Health Promotion (CHP) …

Climate-smart agriculture
  • Agriculture is one of the leading causes of climate change.
  • Without action, emissions from food systems will rise even further, with increasing food production.
  • Climate-smart agriculture offers a holistic approach to end food security.

It may surprise many that agriculture and its activities are, in fact, one of the leading causes of climate change. Agriculture is reported to be responsible for some of the highest emissions of greenhouse gases, making the sector one of the main contributors to global warming.

It strikes the environment with a double-edged sword, emitting greenhouse gases on one hand and destroying forests and marine ecosystems on the other.

According to the World Bank, agriculture is the primary cause of deforestation, threatening pristine ecosystems such as the Amazon and the Congo Basin. With the global population exploding, there is an inevitable need to increase food production, which can only be achieved by expanding agricultural activities.

This …

Shell Nigeria
  • Shell Nigeria is selling off major stakes in the west African country.
  • Critics blame the government of Nigeria for allowing the sell at a time the oil giant is facing suits on oil spills.
  • Activists want Shell Nigeria to be held responsible for alleged decades of oil spills.

Shell Nigeria has sold off major stakes in the Western African country, sparking chatter that the move could be just a ploy to escape oil spill charges in the country. On the other hand, there is an argument that the Shell move is just a numbers game, a move to cut losses in troubled onshore Nigeria stakes in favor of its offshore investments.

Which of the two is true? Is Shell shedding off investments in on-land fossil fuels to redirect its resources to less-hassle offshore exploration, or is the British oil giant simply running away from oil spill charges?

Media has reported…

Ramadan fasting
  • Ramadan fasting increases economic activities around the world.
  • The travel sector, especially airlines registers higher revenues during pilgrimage after Ramadan fasting.
  • Zanzibar has announced tax breaks for consumables during Ramadan fasting.

Every year, from the beginning of Ramadan fasting, Muslim faithful increase spending, travel more and invest significantly to celebrate the Eid vacation.

“As people’s mobility increases, the transport sector’s business also experiences a surge…as people spend the overall economy is stimulated,” explains Abdul Rashid an economist in Tanzania.

The economics of a country change during Ramadan and the months leading to and immediately after the Holy Month. This multiplier effect is felt throughout the world as the Islamic communities prepare, fast and observe the Holy Month.

Take Tanzania for example, the East African country is over 40 per cent Muslim, Ramadan fasting causes increased economic activities ranging from import and export of food, increased spending and pilgrimage related spending.…

white diamonds from Africa
  • African white diamonds are highly prized for their brilliance and rarity.
  • Botswana, South Africa, Angola, and the Democratic Republic of the Congo (DRC) lead in diamond production across Africa.
  • The push for ethical diamonds is gaining momentum as watchdogs demand transparency, fair labour practices, and environmental stewardship.

The allure of white diamonds has captivated humanity for centuries, symbolizing luxury, purity, and unparalleled beauty.

Among the world’s most coveted treasures, African diamonds stand out, not only for their exceptional quality but also for the rich, albeit complex, history of their origin.

We set out to explore the facets of white diamonds from Africa, delving into their market cost, sizes, mining practices, ethical considerations, and their role in luxury jewelry and investment portfolios.

Diamond Mining in Africa

Africa’s geological wealth is unparalleled, with countries such as Botswana, South Africa, Angola, and the Democratic Republic of the Congo (DRC) leading in diamond production.…

Wind and solar energy | EAC renewable energy
  • The EAC has announced investments in wind and solar energy infrastructure.
  • Member states have launched various initiatives designed to catalyze and grow the use of renewable energies and energy conservation on the other.
  • To achieve this ambitious green future, the bloc needs political will, regulation, and the creation of national renewable energy laws.

The East African Community (EAC) partner states are working to enhance energy efficiency in the bloc even as reports show some members are doubling down on projects improving the extraction of fossil fuels.

During the Ministerial Session of the 16th Sectoral Council of Energy held at the EAC Headquarters in Arusha, Tanzania, the six-member bloc announced investments in wind and solar energy infrastructure, driving the region closer to an era of green economy.

Although the investment amount was not specified, the ministers highlighted the goal of utilising wind, solar, and geothermal energy as sustainable sources for …

financial inclusion
  • AfDB signs a risk facility worth over $150 million to boost financial inclusion.
  • Survey shows risk-supported Commercial Banks in Africa can play a key role in poverty eradication.
  • Increased access to capital loans will help lower-income families increase their household earnings

To boost intra-Africa trade in line with the aspirations of the African Continental Free Trade Area (AfCFTA), the African Development Bank Group has approved a $150 million risk facility.

The funding will be through the Trade Finance Unfunded Risk Participation Agreement, a deal which has been entered between the African Development Bank (AfDB) and the Trade & Development Bank (TDB).

Under this agreement, “the AfDB will provide guarantee cover of 50 per cent and up to 75 per cent for transactions in low-income countries and transition states on a risk share basis with TDB to a number of qualifying local and regional banks,” the bank states.

In this first …

Expensive loans
  • Expensive loans remain a significant issue across populations engaged in agriculture in Nigeria, Tanzania and Zambia.
  • A report by the Alliance for Green Revolution in Africa (AGRA) says capital injection is a significant strategy agribusinesses use to survive.
  • Moreover, agribusinesses face high operational costs from fuel prices and low-profit margins driven by currency devaluations.

The lack of agriculture-friendly financial systems saw agribusinesses turn down expensive loan options in the market, with only 15 per cent taking on commercial capital in 2023 and the rest sourcing capital from friends, family and their business savings.

The incentives by the government channelled towards agriculture failed to adequately cushion Agribusinesses from economic shocks, a new report by Alliance for Green Revolution in Africa (AGRA) has revealed.

The African Agribusiness Outlook survey is conducted annually to gain insights into the sector’s top priorities, how they address challenges, and what SMEs see as opportunities.

A reflection …

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