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- Tanzanian inches closer to clean cooking dream with a $1.7 billion plan roll out
- Why the planning of new cities must embrace a visionary approach to succeed
- First Saudi WoodShow in Riyadh attracts over 8,000 visitors
- Kenya Apparel Exports Targetting $1 Billion by 2025
Industry and Trade
- Firewood is responsible for killing at least 33,000 people yearly in Tanzania.
- A person who is exposed to firewood smoke for an hour has similar health risks as a person who smokes between 200 and 300 cigarettes.
- Tanzania is estimated to lose nearly 470,000 hectares of forest each year due to the rampant acts of cutting down trees for charcoal and firewood.
The use of clean cooking energy is no longer a luxurious thing. It is a necessity, Tanzania’s President Samia Suluhu Hassan noted recently during the launch of the 10-year National Clean Cooking Strategy in Dar es Salaam. However, this assertion comes at a precedented moment when women such as Magreth are seeking alternative energy.
“We ask President Samia to help us in any way possible with alternative ways of cooking such as gas,” says Magreth Ngole, a resident of Njombe and a frequent user of firewood for cooking …
- Kenya Apparel Exports currently stand at about Sh51 billion, according to a Kenya Association of Manufacturers (KAM) report.
- Kenya is one of the global suppliers of big fashion brands in America, such as H&M, Levi’s, JCPenny, and Wrangler.
- Youngone intends to start a vertically integrated manufacturing factory, from knitting to dyeing to manufacturing of garments.
Top Global apparel and footwear manufacturer Youngone will set up a factory in Kenya at the Athi River Export Processing Zone (EPZ), Cabinet Secretary for Trade and Industrialization Rebecca Miano has revealed.
The CS said the Export Processing Zones Authority (EPZA) had received a Manufacturing application form with all the required attachments from Youngone Kenya EPZ Limited (Proposed) by April 21, 2024, and issued an Approval in Principle Letter on 25 April 2024.
This comes as the government, through the Ministry of Trade, has been seeking more investors in the textile industry to drive local …
- It is estimated that inaction on SDGs will cost the global economy an extra $38 trillion
- Currently, the SDG financing gap is at approximately $11–15 trillion per year
- By the end of 2050-2060, there will be over 1 billion climate refugees globally
Inaction in advancing the implementation of the Sustainable Development Goals (SDGs) could cost the global economy an extra $38 trillion per year by 2050 at the current rate of progress.
This is according to renowned business leader, campaigner, and author Paul Polman, who has called on the Kenyan private sector to raise the level of ambition in advancing the global goals to move the country forward faster.
With the SDG financing gap at approximately $11–15 trillion per year, or four times greater than current spending levels, Paul Polman noted that the $38 trillion dollars is approximately 20 per cent of the entire global economy, and the longer we …
- Kenya-Ethiopia trade relations have been on the rise in the past 27 years, with Kenya having the upper hand.
- Ethiopia, on the other hand, recorded an increase at an annualised rate of 23.7 per cent.
- During the Meeting Kenyan investors also undertook exhibitions showcasing some of their products.
Kenya and Ethiopia have renewed the push to streamline the bottlenecks that are hampering trade growth between the two states. A delegation of the National Assembly to the Kenya-Ethiopia Trade and Investment Mission held in Addis Ababa, Ethiopia, has rooted for the speedy removal of bottlenecks hampering cross-border trade between both Nations.
Kenya and Ethiopia have engaged in bilateral trade across multiple sectors, including agriculture, manufacturing, energy, and services, with the balance of trade hugely in favour of Kenya. In 2022, Kenya exported $95.1M (Sh12.8billion) to Ethiopia, mainly Palm Oil $12.4M (Sh1.7billion), Metal Stoppers $7.95M (Sh1.1billion), and Yeast $6.92M (Sh934million).
This compares …
- Meg Whitman, US Ambassador to Kenya, highlights key investment opportunities in Kenya, particularly in the creative industry and clean energy.
- She noted that Kenya has the potential to become the Singapore of Africa through vertical business integration, job creation, innovation, and foreign direct investment.
- AmCham Business Summit 2024 seeks to strengthen bilateral trade and investment between the US, Kenya, and East Africa.
The fourth edition of the regional American Chamber of Commerce Kenya (AmCham) Business Summit, has officially kicked off in Nairobi, Kenya, under the theme, ‘Catalyzing The Future of US-East Africa Trade and Investment’.
This year’s forum underscores AmCham Business Summit as the premier platform for strengthening bilateral trade and investment between the United States, Kenya, and East Africa.
Hosted by the American Chamber of Commerce (AmCham), the two-day Summit has brought together delegates from the United States of America, East and Sub-Saharan Africa in efforts to deliberate and …
- South Africa’s Strategic Fuel Fund (SSF) operates Block B2 in South Sudan in collaboration with Nilepet.
- The company has just completed a major phase of its oil and gas exploration in Jonglei state.
- SSF recently completed undertaking the largest geophysical survey ever done in South Sudan, covering 47,000 square kilometres.
In a move marking the strengthening bilateral relations between South Africa and South Sudan, the Strategic Fuel Fund (SFF), South Africa’s state-owned petroleum company, convened a key meeting with South Sudan’s national oil company, Nilepet, in Juba last week.
The meeting was a highlight of South African President Cyril Ramaphosa’s state visit, underscoring the growing economic ties between the two nations.
The SFF, which operates Block B2 in South Sudan and collaborates with Nilepet through the Nile Orange joint venture, has recently completed a major phase of its oil and gas exploration campaign in Jonglei state. The initial aerial survey …
- Africa’s agribusiness sector is undergoing significant transformations driven by population growth, urbanisation, technological advancements, and shifting consumer preferences.
- Alongside their role in stimulating economic growth, agribusiness and agro-industrial development have the potential to reduce poverty and foster social and economic growth.
- Technological advancements and digital transformations are revolutionising agribusiness in Africa, offering transformative opportunities.
Africa’s agribusiness sector potential
Agribusiness in Africa is undergoing significant transformations driven by population growth, urbanisation, technological advancements, and shifting consumer preferences. As a continent with abundant agricultural resources, Africa holds immense potential for agribusiness development.
African economic growth remains commodity-based, mainly on commodity exports, with minimal processing and value addition involved. To foster sustainable and inclusive growth and development in Africa, there is an urgent need to promote a new development approach based on exploiting the continent’s full agribusiness potential.
Some pressing issues call for a reorientation to support agribusiness and agro-industrial development, namely, poverty …
- The key highlight of the AIM Congress 2024 is the Investment Awards, scheduled for the opening day, May 7th.
- These awards celebrate top direct investment (FDI) projects from around the globe.
- The awards underline the diverse ways investment can contribute to economic progress with categories ranging from Innovation and Research to Sustainability and Local Linkages.
As the global investment contours keep evolving, the AIM Congress 2024 is taking shape as a critical platform to foster global investment innovations and sustainability.
Set to convene in Abu Dhabi from May 7-9, the Annual Investment Meeting (AIM) Congress promises to be a crucial gathering for driving the new dynamics of economic resilience and growth.
This year’s congress theme, “Adapting to a shifting Investment Landscape: Harnessing New Potential for Global Economic Development,” aptly captures the current global challenges and the opportunities they present. Under the banner “Resilient Sustainable Economic Growth–Creating a Healthy and Prospective …
- Kenya Ports Authority handled 37,576 metric tons of cargo in 2023, according to its Managing Director.
- The KPA MD revealed the gantry cranes were procured to the tune of $31,493,808
- One of the notable recent investments by KPA is the construction of the second phase of the Lamu Port.
The Lamu port is poised to become a key driver of economic growth and regional integration, according to industry players.
Kenya Ports Authority (KPA) Managing Director Captain William Ruto said the impressive statistics underscore the vital role that the Lamu port plays in facilitating trade and driving growth in the region.
He added that this results from its container capacity of 1.2 million twenty-foot equivalent units (TEUs) across its three berths of 4000 meters each.
“The Lamu facility is poised to become a key driver of economic growth and regional integration,” he pointed out.
Captain Ruto disclosed last year that …
