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- Namibia taps Chinese expertise for its largest solar energy plant investment
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- Africa’s plan to enhance fertilizer access and soil health takes root
- Zanzibar’s growing bet on seaweed: A fix for the island’s economic diversification?
- Africa-Indonesia investment forum poised to yield $3.5Bn worth of deals
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- Globally, seaweed is increasingly becoming the go-to organic medicine option, and Zanzibar is betting big on this avenue.
- Already, the East African Island’s government is investing in the commercial growth of seaweed.
- What’s more, Zanzibar and the EU are in talks to develop the Island’s aquaculture sector.
Zanzibar seaweed output is increasingly becoming a viable commercial project as the island is tapping as part of diversifying its economy. Increasingly, Zanzibar is putting emphasis on seaweed farming because the global industry of seaweed is growing very fast, especially due to the discovery of critical medicinal properties.
It is reported that diseases such as cancer, diabetes, inflammation, and chronic cardiovascular are major global health problems that can all be remedied by seaweed.
In a research paper titled “Global seaweed farming and processing in the past 20 years,” it is reported that “currently, the chemotherapy and synthetic drugs are widely used in the …
- Second Indonesia-Africa Forum (IAF) underway in Bali, Indonesia, almost clashing with the Forum on China–Africa Cooperation.
- Zanzibar President Mwinyi woos Indonesia investors to Zanzibar as he eyes a pie of the $3.5Bn in investment deals.
- The forum has, however, attracted far fewer participants from Africa compared to the 2018 meeting.
The Africa-Indonesia Investment Forum 2024 which is currently underway in Bali, Indonesia, is expected to generate a whopping $3.5 billion worth of investments. In attendance is the Zanzibar President and Chairman of the Revolutionary Council, Dr Hussein Mwinyi. President Mwinyi is representing the Tanzanian Union President Dr Samia Suluhu Hassan and is in the company of several other African Heads of State.
Present at this Second Indonesia-Africa Forum (IAF), include presidents from Zimbabwe, Rwanda, Ghana and Liberia among others. This High-Level Forum on Multi-Stakeholder Partnerships (HLF MSP) is been held concurrently with the IAF and has attracted well over 855 …
- This [gasoline production] will eliminate all fuel queues in Nigeria. This will improve the health of everybody. This will also make sure that there is consistent supply to the market, says Aliko Dangote.
- Refinery hailed as a big step in weaning Nigeria from its heavy reliance on imported oil products.
- Its capacity to export surplus products, such as aviation jet fuel and diesel, offers additional revenue streams for the country.
Nigeria’s energy sector is poised to experience a monumental shift as the Dangote Oil Refinery, a $20 billion investment on the outskirts of Lagos, started gasoline production on Monday. According to media reports, this development marks a big step towards reducing the country’s heavy reliance on imported oil products.
The refinery, which began operations in January, is set to revolutionize Nigeria’s oil industry, promising to address long-standing challenges that have plagued the nation for decades.
“It’s a very historic, monumental …
- Inaugural event promises to be a cornerstone in the region’s wood and woodworking machinery industry
- As construction projects continue to increase, the demand for woodworking machinery is expected to escalate
- Saudi WoodShow is showcasing an impressive line-up of exhibitors, including renowned companies such as Al Arak Wooden Manufacturing Company
Thousands of delegates are converging in city of Riyadh for the Saudi International Wood and Woodworking Machinery Exhibition (Saudi WoodShow) is all set to close tomorrow, May 14. Organized under the banner of WoodShow Global, this inaugural event promises to be a cornerstone in the region’s wood and woodworking machinery industry.
Globally, woodworking machinery market is projected to experience a steady Compound Annual Growth Rate (CAGR) of 4.5 percent between 2023 and 2032, fueled by the robust expansion of the construction sector worldwide.
With the industry witnessing significant growth momentum, the woodworking machinery market, valued at $4.9 billion in 2022, is …
- “Africa is like China 20 years ago, you see where China is now, so Africa is moving there,” Nael Hailemariam, Founder/CEO Chapa tells global leaders, and investors at AIM Congress 2024.
- Africa’s startup evolution is on, fueled by innovation and a youthful demographic dividend.
- This comparison of Africa to China’s meteoric rise serves as a compelling narrative for investors seeking untapped markets brimming with promise.
A panel discussion titled “The New Geographical Focus of Startups: Spreading Digital Innovation to Africa and Other Places” at the ongoing AIM Congress 2024 in Abu Dhabi has shed light on the startup evolution unfolding across Africa.
Expert speakers lifted the lid on the continent’s burgeoning potential, citing untapped opportunities that are ripe for investment. Nael Hailemariam, CEO/Cofounder of online payment gateway Chapa, captured Africa’s momentum, likening it to China’s trajectory two decades ago. “Africa is like China 20 years ago, you see where …
- From January to March, investor confidence improved notably due to the stabilisation of the domestic currency (Kenyan Shilling), according to the Capital Markets Authority (CMA).
- The Capital Markets Soundness Report indicates a more stable shilling, which consequently positively influenced the equity markets, which improved compared to the quarter ending December 2023.
- The four market indices, NSE20, NSE25, NASI, and NSE10, closed at 1752.43, 2975.42, 113.09, and 1155.41 points respectively, an increase from 1,501.16, 2,380.23, 92.11, and 907.51 points.
Kenyan shilling on the rise
Nairobi Securities Exchange (NSE) was among the top African performers in the first quarter of 2024, buoyed by improved investor confidence that reduced outflows.
From January to March, investor confidence improved notably due to the stabilisation of the domestic currency (Kenyan Shilling), according to the Capital Markets Authority (CMA).
The Capital Markets Soundness Report for the period under review indicates a more stable shilling, which consequently positively …
- Madagascar’s first gold refinery following a strategic partnership and support from the United Arab Emirates.
- Andry Rajoelina, President of Madagascar, terms the move “a major step in the development” of the country’s mining sector.
- At the AIM Congress 2024, Madagascar is marketing its rich potential as an emerging market and its pivotal role in regional trade dynamics.
Madagascar’s first gold refinery
Madagascar is set to join the elite club of countries with gold refinery plants in the world following strategic partnerships and support from the United Arab Emirates (UAE). In his keynote address at the opening ceremony of the 13th edition of the AIM Congress in Abu Dhabi, Andry Rajoelina, President of Madagascar, outlined his nation’s strategic vision for sustainable economic growth and development.
While highlighting the importance of strategic partnerships and investment, President Rajoelina noted Madagascar’s rich potential as an emerging market and its pivotal role in regional …
- Legal ruling favors Kenya Ports Authority (KPA) and Kenya Revenue Authority (KRA), allowing clearance of Sh145 million consignment despite ownership objections.
- Dispute centered on transfer of property and risk to Dooba Enterprises Ltd, with objecting companies claiming previous ownership based on contractual agreements.
- Case highlights importance of clear contractual agreements, documentation, and effective dispute resolution mechanisms in international trade.
An array of goods valued at $1 million (KSh145 million) is set to be cleared from the Mombasa port after a legal battle between five companies and two key entities, the Kenya Ports Authority (KPA) and Kenya Revenue Authority (KRA). The consignment, held in four containers, faced opposition from the companies, including Ningbo Ningshing Trading Group Inc., Top Anchor Industries, Ningbo Jiaje Water-Meter Manufacture Co. Ltd Inc., Ningbo Texilong Pipe Industry Co. Ltd, and Quanzhou Datouyi Technology Co. Ltd.
However, Mombasa High Court judge Kizito Magare ruled in favor of KPA …
- Africa Fertiliser Financing Mechanism will avail 8000 tons of fertiliser.
- 5.533 million Kenyan farmers are registered for the government’s subsidised fertiliser programme.
- African Development Bank granted Kenya $67 million in 2022-2023 through its African Emergency Food Production Facility.
The Africa Fertiliser Financing Mechanism has launched a project to help deliver 8,000 tons of fertilisers to 100,000 smallholder farmers in Kenya to boost harvests and incomes.
Through its Fertiliser Financing for Sustainable Agriculture Management Project, the Mechanism will provide a $2 million partial trade credit guarantee and a grant of $219,000 to Apollo Agriculture Limited, a Kenyan corporation, to facilitate the company’s fertiliser sales.
The Norwegian Agency for Development Cooperation, through a contribution of $10.15 million to the Africa Fertiliser Financing Mechanism, is also supporting the project.
Representatives of the African Development Bank, which manages the Mechanism, Apollo Agriculture and the Kenyan and Norwegian governments attended the launch event in Nairobi.…
