- Shareholders pressure Glencore spin off and disposal of coal business in two years
- Airtel Africa launches new data centre business Nxtra
- How Africa can cushion the blow of China’s economic slowdown
- Business conditions in Kenya remain in a steep decline amid inflationary pressures
- Making waves: Zanzibar’s quest to become Africa’s new tech hub
- Costly loans loom large as Kenya’s Central Bank hikes rate to 12.5 per cent
- Falling commodity prices dampen Zimbabwe’s 2024 economic growth prospects
- Youth-led African enterprises awarded $800,000 at COP28 for climate solutions
- In Nairobi, delegates from 170 countries are convening for the initial discussion on a draft treaty released in September, outlining various approaches to address plastic pollution.
- Norway and Rwanda are spearheading the “high ambition coalition” that seeks to eradicate plastic pollution by 2040.
- Oil-rich Saudi Arabia is at the forefront of a coalition comprising countries with massive petroleum industries. This group is leaning towards setting priorities on recycling and waste management.
Delegates from 170 countries worldwide are gathering in Nairobi from November 13th to 19th to negotiate plans aimed at eradicating global plastic pollution. This assembly brings together petrochemical multinationals, environmentalists, and policymakers for their inaugural discussion on the draft language of the treaty. It is the third session within a condensed schedule of five meetings, all aiming to finalize negotiations by the conclusion of 2024.
“African countries should lead the way in fighting plastic pollution” remarked UNEP Executive Director …
- The Kenyan Government has announced plans to develop a circular economy strategy to guide the nation’s transition to circularity.
- With the circular economy, Kenya can drive the optimization of resources, reduce the consumption of raw materials, and recover waste by recycling or giving it a second life as a new product.
- However, Kenya is facing significant challenges in adopting circularity, including limited waste collection and recycling infrastructure.
The Kenyan Government has announced plans to develop a circular economy strategy to guide the nation’s transition to circularity. In a statement during the Annual Circular Economy Conference, the Cabinet Secretary for Environment, Climate Change, and Forestry, Soipan Tuya, said that with the circular economy, the country can drive the optimization of resources, reduce the consumption of raw materials, and recover waste by recycling or giving it a second life as a new product.
Strategy helps eliminate greenhouse gases
“Circular Economy is …
- Telco giant Safaricom has reported a 2.1% increase in net profit, reaching $225 million (KES34.2 billion) for the six months ending on September 30.
- Company CEO says there was heightened pressure on consumers’ finances due to both global influences and domestic inflation.
- Money transfer service M-PESA was the firm’s biggest source of revenue at 42% in the period.
Kenya’s telecommunications giant, Safaricom, has reported a 2.1 percent increase in net profit, reaching $225 million (KES34.2 billion) for the six months ending on September 30. During this period, earnings from the cash transfer service, M-PESA, which constitutes approximately 42 per cent of the total service revenue, saw a 16 per cent surge compared to the same period in the previous year.
Safaricom CEO, Peter Ndegwa, pointed out that during the six months, there was heightened pressure on consumers’ finances due to both international influences and domestic factors such as inflation. Furthermore, …
- Three Kenyan startups have been selected for an incubation programme after winning the Cyber Security Hackathon at the just concluded Blue Economy Innovation and Investment Summit.
- The three startups, which are based in Mombasa include Bio Secure, Tide Safetynet and Seatrust Navigator.
- Sote Hub Founder David Ogiga says the three startups will receive six months technical and financial support to bring their ideas to life.
Three Kenyan startups have been selected for an incubation program after winning the Cyber Security Hackathon at the recently concluded Blue Economy Innovation and Investment Summit. The startups, based in Mombasa, include Bio Secure, Tide Safetynet, and Seatrust Navigator. Sote Hub Founder David Ogiga stated that these three startups would receive six months of technical and financial support to bring their ideas to life.
“Our focus for this year’s hackathon at the conference was circular economy, cyber security, blue economy, climate change, and the digital …
- Korea’s smart tech firms have set sights on Kenyan market to provide smart technologies as Kenya steps up its smart city game.
- Three smart tech Korean companies have signed MoU with Kenyan firms to bolster Kenya’s aspirations of becoming regional ICT hub.
- The trend-setting firms are among 15 companies showcasing at the Korean Pavilion, seeking to strengthen Kenya-Korea business ties.
Korea’s smart tech firms are seeking entry into the Kenyan market to provide intelligent technologies as Kenya gears to step up its smart city investments.
Speaking during the unveiling of the Korean Pavilion at the 2023 BIG 5 Construction Roadshow in Kenya, Korea Trade Development Agency (KOTRA) managing director Eom Ikhyun said three Korean companies have signed a Memorandum of Understanding (MoU) with Kenyan companies.
Korea GT has signed an MoU with SONVAR Chemicals, while POQUTEC has struck a deal with Regal Equipment. Further, SJ Chemical has signed an MoU …
- TransUnion survey shows four in 10 (41%) of Kenyan consumers reported a decrease in income over the past three months.
- A similar number or 42% of Kenyan consumers anticipate being unable to pay their current bills and loans in full.
- About 55% of Kenyan consumers plan to make further cuts to their discretionary spending. What’s more, 47% expect a decrease in large purchases such as cars.
A new survey by TransUnion has revealed a mixed financial outlook for Kenyan consumers in the second quarter of 2023. The research, presented at its annual Financial Services summit in Nairobi, found that while eight in 10 (79 per cent) expect their household incomes to increase in the coming year, four in 10 (41 per cent) reported a decrease in income over the past three months. A similar number or 42 per cent anticipate being unable to pay their current bills and loans in …
- To lessen its carbon footprint, Tanzania is adopting the use of vehicles that run on compressed natural gas (CNG).
- Plans are underway to set up CNG refilling stations in Dar es Salaam, Morogoro, and Dodoma cities.
- Tanzania’s $42 billion Liquid Natural Gas (LNG) project makes the transition to natural gas-powered vehicles a viable initiative.
In Tanzania, a new revolution to reduce carbon footprint is underway. The government is rolling out a plan to cease the use of crude oil for its government vehicles. This is part of a larger national initiative to reduce carbon footprint and adopt a more environmentally friendly system.
Instead of oil, the Tanzania Government Procurement Services Agency (GPSA) will now purchase vehicles that run on compressed natural gas (CNG).
A CNG vehicle is a car powered by natural gas rather than gasoline or diesel fuel. These cars are not specially manufactured to use CNG. Instead, automakers …
According to John Howkins, the orange economy incorporates industries whose goods and services arise from intellectual property. These include research and development, radio and TV, visual and performing arts, publishing, advertising, music, software, gaming, design, film, crafts, architecture, fashion, and design. Artists, cultural non-profits, and creative businesses can produce and disseminate goods and services that generate jobs, revenue, and quality of life.…
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- Global South is rapidly becoming a center of technological innovation and environmentally conscious policymaking.
- The area is ideally set to lead in sustainable plastic manufacture as the world reimagines plastic management.
- Producing plastics in novel ways is essential to the circular economy’s goal of minimising, reusing, and recycling materials.
The environmental effects of plastic have dominated the conversation over this material in recent years. Latest technological developments and growing international agreements suggest that the center of plastic production may soon move to the Global South.
Global initiatives to reduce plastic pollution, a booming circular economy, and expanding industrial capacities in the Global South are all driving this shift. The Global South is ideally situated to lead the way in sustainable plastic manufacture as the world community comes together to reimagine plastic management.
When it comes to international initiatives to reduce plastic waste, the United Nations has been a leader. This …
- Traders across East Africa are shunning the Port of Mombasa in favour of Dar es Salaam Port citing higher fees.
- Uganda complains that up to 50% of their traders’ costs go to port clearance and transport expenses from Mombasa.
- The entry of DP World into the Dar es Salaam port promises improved vessel discharge times, lower fees, and increased profits, a move that will significantly challenge Mombasa.
In the shadow of rising cranes and towering cargo ships, the Port of Mombasa faces a formidable rival in the form of the Dar es Salaam port in Tanzania. Both harbours have set their sights on becoming the primary entry point to the promising opportunities in East African Community, a market of approximately 500 million people. The competition is fierce, and the stakes are high.
Mombasa port vs Dar es Salaam: The battle for East Africa’s gateway
As of 2022, cargo handling at …