• The Bimalab Africa program is an innovation that brings together insurance innovators, technology partners, insurance firms, investors, and regulators.
• BimaLab Africa will expand its footprint to accelerate 55 insurtechs in 15 African countries.
• The initiative is dedicated to tackling pressing issues such as climate change, health, and gender disparities in the sector.

The Bimalab Africa Insurtech accelerator program has received $600,000 (about KSh85.9 million) in funding to expand its operations across Africa. Following the fresh financing round by the Swiss Re Foundation, the program is now set to grow to cover 15 countries across the African continent from the initial 10 countries covered in the 2023 program.

The program offers hands-on venture-building support to high-impact Insurtech start-ups that improve the resilience of underserved and climate-vulnerable communities.

The initiative is dedicated to tackling pressing issues such as climate change, health, and gender disparities while also addressing the challenges micro, small, …

• Irrigation in Africa has the potential to essentially double agricultural productivity.
• In Sub-Saharan Africa, irrigation is a key factor in achieving food security, yet it remains vastly under-utilised.
• FAO advises that each African country assess its irrigation potential as the basis for planning sustainable food production.

Irrigation in Africa has the potential to essentially double agricultural productivity, boosting output by up to 50 per cent. This optimistic evaluation is provided by the UN Food and Agriculture Organisation (FAO). However, even with this potential, FAO shares concerns that it is vastly underutilized, with agriculture in Africa remaining predominantly rain-fed.

“Although irrigation in Africa has the potential to boost agricultural productivity by at least 50 percent, food production on the continent is almost entirely rainfed,” reports FAO.

According to FAO data, the area under irrigation in Africa currently makes up just 6 percent of the total cultivated area. In Sub-Saharan Africa, irrigation …

• Tanzania to earn $400 million annually from tobacco export/sells.
• The country now ranks second largest tobacco producer in Africa after Zimbabwe.
• Tobacco has no known health benefit. On the contrary, it causes disease, disability and premature death. Over 6 million people die globally every year from tobacco-related illnesses.

Tanzania has been ranked as the second-largest producer of tobacco in Africa, falling behind only neighboring Zimbabwe, even as tobacco’s toll worsens globally. The ranking comes after a bumper harvest in the year 2022/2023, as announced by Tanzania’s Minister for Agriculture, Hussein Bashe.

According to the minister, the country’s tobacco production has more than doubled over the last year alone to 122,858 tonnes in FY2023/2024 from 50,000 tonnes earlier.

As of December last year, the export value of tobacco stood at $316 million, and with the increase in output, the minister is confident that this year the country will attain its …

• 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 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.…

• 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.…