The Bill and Melinda Gates Foundation has unveiled a $40 million funding plan to support multiple African companies for new messenger RNA vaccine development. This initiative addresses the challenge faced by millions of African people who were among the last to receive COVID-19 vaccinations.

The Gates Foundation asserts this initiative will leverage over 20 years of collaborating with vaccine makers in poor countries. Further, it will harness recent scientific breakthroughs to develop cost-effective, high-quality health tools with a global reach.

This year’s Africa Business Media Innovators forum will focus on key themes, including the impact…

Guinness Nigeria, a subsidiary of Diageo, will cease importing and distributing Diageo’s global brands, such as Johnnie Walker, starting April 2024 in a strategic shift that the firm says will help cushion itself from persistent forex hits. Instead, Johnnie Walker owner Diageo will establish a new subsidiary to import and distribute its range of spirits in the West and Central African markets after ending its seven-year-old contract with Guinness Nigeria.

Xlinks will build a 3,800-kilometer subsea cable to supply solar and wind power. Morocco will…

Nairobi will continue purchasing fuel on credit from three state-owned Gulf oil marketers until December 2024 in a plan the government is banking on to ease piling pressure on Kenya’s forex reserves.
The move comes in the wake of high expenditure on oil imports even as Kenya remains a net importer grappling with a widening trade deficit that hit $10.8 billion last year. Last year, Kenya’s expenditure on imports rose by 17.5 per cent to $16.9 billion (KSh2.5 trillion), despite growing export volumes.

Tanzania seeks to amass an abundance of energy and engage in energy trade with neighboring…