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- History beckons as push for Kenya’s Ruto to address US Congress gathers pace
- IMF’s Sub-Saharan Africa economic forecast shows 1.2 percent GDP growth
- The US Congress proposes extending Agoa to 2041, covering all African countries
- Millions at risk of famine as fuel tax row halts UN aid operations in South Sudan
- Empowering the Future: Humanity Protocol’s Dream Play Initiative
- TikTok Community Guidelines update aims to curb hate speech and misinformation
- Rwanda sees 39% surge in bank borrowers as Sacco and MFI loan uptake declines
- Kenya Ports Authority wins dispute case over cargo release
Investing
- 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.…
- Over 300 startups are converging in Abu Dhabi between May 7th and 9th for three days of innovation, collaboration, and transformative dialogue.
- Key topics on the agenda include the rise of startups in biotechnology, the integration of technology into enterprises for financial resilience, and customer acquisition and retention.
- Seven high-level roundtable meetings are slated to help startup entrepreneurs learn from experts about the latest global investment issues.
AIM Congress, now on its 13th edition, is gearing up to host over 300 startups from diverse fields of innovation and industries, marking a huge milestone for the global showcase in the United Arab Emirates (UAE).
Set to unfold from May 7th to 9th, 2024, at the Abu Dhabi National Exhibition Centre (ADNEC), the event promises a platform for innovative solutions, investment opportunities, strategic partnerships, and knowledge sharing among policymakers and entrepreneurs worldwide. ADNEC, which offers a total area of 153,678 square metres …
- Cybersecurity, corruption, and policy shifts have been cited among the top issues that Kenyan businesses will have to confront in 2024.
- In 2022, Kenya suffered a loss of at least $153 million to cybercrime, which is projected to rise by 14 per cent annually.
- A new report ranks Kenya as the second most difficult country for businesses in EAC after South Sudan.
Cybersecurity, corruption, and policy shifts have been cited among the top issues Kenyan businesses will have to confront in 2024.
The latest Risk Barometer by underwriting giant Allianz, reveals that in Kenya’s complex and dynamic business environment, several challenges loom, casting shadows on the entrepreneurial spirit that drives the economy.
The high cost of living directly impacts consumer spending, affecting businesses across sectors. A weakening currency coupled with inflation also threatens businesses and the economy.
According to Allianz Commercial CEO Petros Papanikolaou, the key challenges for companies …
- Market insights firm Stears says Kenya might not be attracting sufficient fintech investments due to the near-monopoly of tech giant Safaricom PLC.
- On average, Kenya accounted for 8 percent of fintech investments made on the continent between 2019 and 2023. At the same time, Nigeria got 39 percent, Egypt’s 16 percent, and South Africa’s 20 percent.
- Historically, Nigeria has led fintech funding on the continent, enjoying special attention from investors.
Kenya has not been prioritized by fintech investors as much in the last five years compared to other key African markets such as Nigeria, Egypt, and South Africa.
These revelations are highlighted in a report by Stears, a market research company headquartered in Nigeria that specializes in African investments.
According to the report, Kenya, on average, represented only eight percent of fintech investments in the continent between 2019 and 2023. In contrast, Nigeria accounted for 39 per cent, Egypt …
The United Nations Conference on Trade and Development (UNCTAD) has stated that inadequate infrastructure investment in African countries hinders the continent from securing a more advantageous position as a global supply chain destination.
The organization highlights, among other points, in its annual 2023 Africa economic development report, the need to prioritize certain aspects to strengthen Africa’s role in the supply chain, recognizing its potential to become a key player in the global supply market.…
- The continent’s abundant resource base and untapped opportunities have already begun to attract European Investors, countries, and companies.
- Clear transition strategies and enhanced regulatory frameworks consolidate Africa’s attractiveness as an investment destination.
- With the resources available, many African countries – either oil producers or those on the verge – have begun implementing strategies to define a long-term vision for the sector.
Amid supply challenges and efforts to diversify imports, Africa has emerged as a highly strategic investment opportunity for many European Investors, countries, and companies.
The continent’s abundant resource base and untapped opportunities have already begun to attract players from across the bloc. New market dynamics offer the chance for African countries to take tangible actions to advance the continent’s attractiveness for foreign investment.
The upcoming Invest in African Energy Forum in Paris from May 14-15 has been touted as a testament to the efforts to promote investment in the …
- Real estate investment in Kenya offers tremendous opportunities for financial growth.
- To make informed investment decisions, it is essential to have a thorough understanding of the current status and trends within the market.
- By understanding the current status and trends of the Kenyan real estate market, investors can make informed decisions that maximize their chances of success.
Are you ready to dive into the world of real estate investment in Kenya? If you are looking for a comprehensive guide to help you succeed in this thriving industry, you’ve come to the right place!
Real estate investment in Kenya offers tremendous opportunities for financial growth, but navigating the market can be overwhelming without the right knowledge and strategies. That’s why we’ve put together this ultimate guide with practical tips and expert advice to empower you on your real estate investment journey.
In this blog, we’ll take you step-by-step through the process …
- The latest round of talks on the Grand Ethiopian Renaissance Dam (GERD) has concluded in Addis Ababa without success.
- Egypt, heavily reliant on the Nile for its water supply, is blaming Ethiopia for rejecting proposals that safeguard the interests of the three nations involved.
- On its part, Ethiopia is accusing Egypt of “misrepresenting” its positions in the talks.
The latest round of Ethiopia-Egypt talks on the Grand Ethiopian Renaissance Dam (GERD) has concluded without success. The meeting, held in the Ethiopian capital Addis Ababa, failed to produce any tangible results, as Ethiopia remained steadfast in its refusal to accept technical or legal compromise solutions that would address the concerns of all three countries involved: Ethiopia, Sudan, and Egypt.
Egypt’s Irrigation Ministry reported the lack of progress, highlighting Ethiopia’s persistent rejection of proposals aimed at safeguarding the interests of the three nations.
Egypt, heavily reliant on the Nile for its water …
