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- Africa’s new dawn: the rising role of digital and AI in agriculture
- Can Dangote Refinery Transform Africa Energy Ambition
- Gallup Survey: 80 per cent of Kenyan Workers Are Disengaged and Seek New Opportunities
- Madagascar Man Freed from 5KG Tumor After 15-Year Struggle
- How women in Africa are perceived and treated
- Sugar consumption in Kenya to Increase to 1.23 Million Tonnes
- Can Somalia and Turkey Oil deal Bring Change in Somaliland
- Remittances to Kenya dropped to $371.6 million in June, marking a six month low
Industry and Trade
- The construction took over 20 years and bears a processing capacity of 650,000 barrels per day 250,000 per day of gasoline and 100,000 of diesel.
- The Dangote oil refinery might halt the decades-long gasoline trade from Europe to Africa worth $17 billion each year.
Dangote Oil Refinery
Aliko Dangote, Nigeria’s and Africa’s wealthiest man ambition to foster energy reliance in his motherland and the region at large might be at risk. The giant oil refinery which is said to possess the potential to end decades-long gasoline trade from Europe to Africa worth $17 billion a year.
Concerns and tensions are high as a myriad of issues emerged before and since the $ 20 billion refinery came to life. According to various news reports, including the BBC and Reuters, the construction began in 2016 and started producing diesel and aviation fuel in January this year as petrol is expected to …
- Sugar consumption in Kenya is also expected to increase by 3.2 per cent this year driven by tourism and bakery
- Following the expiration of the ban in November 2023, production is expected to rebound significantly in 2024/25
- The survey also says that the growth in Kenya’s tourism sector will continue to create demand for sugar.
Kenya is expected to record a rise in sugar imports, as the effects of a ban on immature sugarcane processing kicks in, new findings have revealed. This is however expected to ease as millers ramp up their production
A report released by Fitch Solutions Company BMI and the United States Department of Agriculture shows that, the country should expect production to decrease by 32.9 per cent year on year in 2023/24 down to 530,000 tonnes from 790,000 tonnes in 2022/23.
This has majorly been attributed to the ban on sugarcane harvesting that was implemented in …
- According to the Turkish Energy Minister, Turkey will have exclusive rights for search and production when we find oil in these areas.
- Turkey and Somalia signed a defense and economic cooperation agreement during the Somali Defence minister’s visit to Ankara
- In March Somalia inked an oil and gas deal with Turkey which officials mentioned would foster cooperation in the exploration and exploitation of the deposits.
Somalia and Turkey Oil Deal
Despite being torn apart by civil war, Somalia’s geo-seismic studies have shown the war-torn country may have at least 30 billion barrels of oil and gas reserves.
Inching towards stability and fostering civil rest amid Islamic insurgents posing a threat to peace and harmony, Somalia’s newly discovered oil and gas deposits could be the nation’s breakthrough.
Although the resources take time to develop – exploration usually takes three to five years and production can only begin after the latter is …
- Al Shezawi, President of AIM Global Foundation, asks entrepreneurs to seize promising investment opportunities between the Gulf countries and African nations.
- Al Shezwi who is also President AIM Congress says these collaborations will be through enhancing joint work and establishing economic partnerships.
- Also discussed in Bahrain was best practices and experiences from Africa and the Arab region on how to stimulate and unleash entrepreneurship, joint investments, and trade.
The AIM Global Foundation has called for enhanced trade partnership between the Gulf nations and Africa during the fifth edition of the 2024 World Entrepreneurs Investment Forum in Bahrain.
This call comes at a time when the AIM Global Foundation is increasingly engaging the world’s entrepreneurs, urging enhanced international cooperation by formulating and developing effective promotion strategies and opening new horizons for viable investments.
Overall, the AIM Global Foundation seeks to anticipate the future, support sustainable investment partnerships and initiatives, and create …
- Kenyan home buyers are looking for cheaper houses despite an overall drop in real estate property prices
- In addition, there was a slight activity increase in the high-market section, to account for 17 per cent in quarter four from 15.2 per cent in the third quarter.
- These variations underscore the segmented nature of the housing market, influenced by both region and house type.
Kenyan home buyers sought cheaper houses despite an overall drop in real estate property prices throughout last the year, according to a new report.
The latest Kenya Bankers Association (KBA) Housing Price Index shows that the low market segment (Affordable Housing) recorded high demand in the last quarter, accounting for 62.3 per cent.
The shift to the low end was a steep rise compared to 48 per cent recorded in the previous quarter.
Price reduction came amidst challenges like high inflation and a weak shilling, which reduced …
- 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 …
- At AIM Congress 2024, ministers worldwide share insights and strategies for unlocking global investment potential and navigating the prevailing economic challenges.
- Ministers highlight diverse approaches to investment attraction, ranging from leveraging emerging markets and fostering SMEs to offering incentives like tax exemptions and creating investment-friendly regulations.
- The global forum showcases a collaborative effort to drive economic growth, regional collaboration, and private sector involvement.
In a bustling convergence of minds at the ADNEC in Abu Dhabi from May 7th to 9th, the 2024 AIM Congress unveiled a remarkable event that captured the attention of global leaders—the Ministerial Roundtable on Investment.
This exclusive gathering under the Roundtables’ Track brought together a cadre of distinguished ministers worldwide to share insights and strategies in navigating the complexities of economic volatility, geopolitics, and the looming global economic slowdown.
H. E. Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, set the tone …
