Industry and Trade

electric_cars
  • Kenya has begun preparations to support the transition from fossil fuel-powered vehicles as demand for electric vehicles intensifies.
  • Kenya Power has established a liaison office which acts as a one-stop shop to champion the Company’s e- mobility business.
  • The company is also in the process of hiring a consultant to guide the development of an E-mobility Network Infrastructure System (ENIS) to pilot the electric vehicle charging stations, both for company use and demonstration purposes.

Kenya has begun preparations to support the transition from fossil fuel-powered vehicles as demand for electric vehicles intensifies. 

Speaking during the opening session of Kenya Power inaugural E-mobility Conference Kenya Power’s Ag. Managing Director Geoffrey Muli said the firm has established a liaison office which acts as a one-stop shop to champion the Company’s e- mobility business.

“Through this office, we are working with investors and stakeholders to support the development of the e-mobility ecosystem, which

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  • EAC Partner States need to fast-track implementation regulations on the liberalisation of air transport
  • An extra 155,000 jobs and US$1.3 billion in annual GDP would be created if 12 countries opened their skies.
  • Africa has formed the Single African Air Transport Market (SAATM) to spearhead a single unified air transport market to advance the liberalization of civil aviation in Africa.

In the spirit of creating a single market and increased integration of Africa’s 54 nations, stakeholders want airlines operating within the continent to lower fares.

Recent research by the International Air Transport Association (IATA) showed that ‘if just 12 key Africa countries opened their markets and increased connectivity, an extra 155,000 jobs and US$1.3 billion in annual GDP would be created in those countries.’

These are significant figures by any measure and IATA, the trade association for the world's airlines, representing some 260 members, maintains that lowering flight prices in…

  • Investing in Africa’s music industry offers numerous opportunities for growth and success.
  • Dataxis predicts that Africa’s annual music streaming revenues will grow from US$92.9 million in 2021 to US$314.6 million by 2026.
  • The music industry in Africa faces significant competition from international music markets, particularly from Europe and North America.

The music industry in Africa is a growing and dynamic sector that offers numerous opportunities for investment, growth and success. Despite facing challenges such as intellectual property rights issues, lack of investment and infrastructure, and competition from international music markets, the music industry in Africa is thriving and presents a unique opportunity for investment.

Africa is home to a rich and diverse musical heritage, with music playing an important role in the cultural and social lives of its people. The music industry in Africa encompasses a range of genres including traditional, pop, hip hop, and gospel, and is estimated to …

The East African region is endowed with a variety of minerals that have the potential to catalyse faster economic growth for individual member states.
The bloc in general is rich in fluorspar, titanium and zirconium, gold, oil, gas, cobalt and nickel, diamonds, copper, coal, iron ore, among other minerals.
While the DR Congo and Tanzania are considered to be the richest in mineral deposits in the region, almost every country has its own which has a commercial potential.
Kenya has numerous ores and industrial minerals which are believed to be in substantial quantities.
These minerals include soda ash, fluorspar, titanium, niobium and rare earth elements, gold, coal, iron ore, limestone, manganese, diatomite, gemstones, gypsum and natural carbon dioxide.
While investors have been mining in some of the minerals in large scale, with artisanal miners sinking tunnels in small scale capacity, the country is yet to fully exploit the minerals leaving
  • The second Africa Food Summit held in Dakar has ended with development partners committing US$30 billion to back the continent’s resolve to boost agricultural productivity.
  • The summit was a key moment in Africa’s ability to feed itself and achieve food self-sufficiency and food sovereignty.

The second Africa Food Summit held in Dakar, Senegal has ended with development partners committing US$30 billion to back the continent’s resolve to boost agricultural productivity and become a global breadbasket. The summit was organized by the Senegalese government and the African Development Bank and rallied dozens of dignitaries, including 34 heads of state and government, 70 government ministers, and development partners.

The major theme of the summit ‘Feed Africa: food sovereignty and resilience.’ Which was that African countries need to increase their food production capacity, rather than relying heavily on imports that have left them vulnerable to price spikes and shortages. The continent is facing …

Italy’s Prime Minister, Giorgia Meloni, recently visited Libya to meet with the country’s Prime Minister Abdulhamid Dbeibah. The trip was an opportunity to address the two most pressing issues facing Italy and the European Union: energy and migration. During her visit, the largest single investment in Libya’s energy sector in over 20 years was signed, worth US$8 billion.

ENI CEO, Claudio Descalzi, signed the deal with Libya’s National Oil Corporation (NOC) to develop two offshore fields in Block NC-41, north of Libya. The deal is estimated to start pumping gas by 2026 and reach 750 million cubic feet per day. Meloni called the deal “significant and historic” and said it would help secure Europe’s energy sources.

Eni said it was the first major project in Libya since early 2000 and involved the development of two offshore gas fields.

The project includes two gas fields, called “Structure A” and “Structure E” …

  • Safaricom Limited has announced the election of Adil Arshed Khawaja (MBS) as the Chairman of the Board on 26th January 2023
  • The highly distinguished Advocate of the High Court of Kenya, was appointed a Director in Safaricom PLC on 22nd December 2022 following the resignation of John Ngumi. 
  • He currently serves as the Managing Partner at Dentons Hamilton Harrison & Mathews, the oldest law firm in Kenya, established in 1902 with a reputation of being an innovative, experienced, responsive, and highly skilled firm.

Safaricom Limited has announced the election of Adil Arshed Khawaja (MBS) as the Chairman of the Board on 26th January 2023

The highly distinguished Advocate of the High Court of Kenya, was appointed a Director in Safaricom PLC on 22nd December 2022 following the resignation of John Ngumi. 

Khawaja has over 30 years work experience in the legal profession ranging from dispute resolution, to commercial and real

  • Africa is a continent with a rapidly growing population and a developing economy. However, one of the major challenges that Africa faces is a lack of reliable and accessible electricity.
  • Nuclear power generation is one of the options that could potentially solve Africa’s power problems, but it is also a controversial and complex issue.
  • Nuclear power plants use heat from nuclear fission to produce steam, which then drives turbines connected to generators to produce electricity.

South Africa has been experiencing a series of constant rolling blackouts for the past few years. While load shedding may have become a norm in the country, it is not the only African country experiencing an energy crisis.

The struggle to keep the lights on is not unique to South Africa and can be described as a Cape to Lagos problem.

Zimbabwean citizens experience power outages that last up to 19 hours a day which …

  • The UN report attributes this slowdown to the ongoing COVID-19 pandemic, Russia’s war in Ukraine, high inflation, and the climate crisis.
  • Africa has long been dependent on exports and foreign investment to drive its economic growth.
  • The slow global economic growth also means that African countries will have less access to funding from international organizations like the World Bank and the International Monetary Fund (IMF).

The recent United Nations (UN) report on the state of the global economy has painted a dim picture in 2023, with slow growth projected for the global economy. The report attributes this slowdown to the ongoing COVID-19 pandemic, Russia’s war in Ukraine, high inflation, and the climate crisis.

While the near-term economic outlook remains uncertain, the report forecasts a moderate pick-up of growth to 2.7 per cent in 2024. However, the report also states that “myriad economic, financial, geopolitical, and environmental risks persist.” This means …