Browsing: Kenya

Sub-Saharan African clothing and footwear market is worth $31 billion US dollars and growing. In a series of articles about the industry in Sub Sahara Africa, we will explore the policies, trade and the budding creative fashion industry in the region. This is the second part of the series where we focus on the raw material for the textile industry.

Read the first of our series:  Africa Fashionomics: Making sense of the $31 Billion industry

Kenya has taken years to review and establish a commercially viable production of a variety of cotton laced with foreign genes from the naturally occurring bacterium Bacillus thurigensis. By the start of the year, the government announced it was ready to go full commercial in production of this variety to push the availability of raw materials.

It is highly expected that adoption and commercialization of Bt cotton will revitalize the textile industry and by extension …

The Kenya National Chambers of Commerce and Industries(KNCCI) has raised concerns over mishandling of investors in the ongoing crackdown on tax evaders.

KNCCI President Richard Ngatia on Monday criticized the manner in which the operation is being conducted.

He has called on the government and the Kenya Revenue Authority(KRA)to look for compassionate ways of engaging the business persons suspected of evading taxes payment, rather than treating them in a way that will cause their businesses to shut down.

Ngatia who was accompanied by KNCCI Embu chairman John Mugo among others said if business persons suspected to have defaulted in revenue payment are treated harshly, they will close down.

This, he said, will have several implications including job and revenue losses by the government.

“There are ways that you can negotiate with them, there are ways that you can have payment plans with them, and there are ways you can …

Global consultancy Palladium has announced its first impact investment fund to bridge the financing gap for small businesses in sub-Saharan Africa.

The “Palladium Impact Fund I” is expected to raise USD 40 million to provide much-needed capital for SMEs in emerging markets. The fund, which will focus on agribusiness value chains and off-grid clean energy in Nigeria, Ghana, and Kenya, aims to alleviate poverty and economically empower over 500,000 rural households. It intends to create at least 3,500 full-time jobs, of which 60 percent will be for women.

Investors will include foundations, family offices, pension funds, and institutional investors. Palladium will manage the fund, anchored by a $5 million investment of its own capital. The new fund will make debt and mezzanine investments of between $250,000 and $2 million into small companies.

Andrew Tillery, Head of Impact Investments at Palladium, said, “Fifty-four years of experience has taught Palladium that for …

The Communications Authority of Kenya (CA) has appointed Mercy Wanjau as the acting Director-General to replace Francis Wangusi whose tenure has ended, despite the former refusing to vacate office noting that the process to appoint a replacement.

The CA Board of Directors Chairman Ngene Gituku, however, said the appointment has been made to ensure that CA continues to discharge its mandate seamlessly.

Mercy Wanjau is a commercial lawyer, a regulatory and governance professional currently working with the Communications Authority of Kenya as the Director of Legal Services and Board Secretary. She has been involved in designing and harmonizing policy and regulation in the ICT sector at the local, regional and international level for over 15 years.

“Given the strategic responsibilities vested on the Authority, we are committed to ensure there is no leadership vacuum and that we deliver on our vision of ‘A digitally transformed Nation,” Mr Gituku said.

Mr …

The Japanese city of Yokohama prepares to host African leaders and business delegation during the Seventh Tokyo International Conference on African Development (TICAD7) will be held in Yokohama from 28th to 30th August 2019.

This is a Summit-level international conference on Africa’s development which was initiated by Japan since 1993. What is striking about TICAD is that rather than being a stage for bilateral relations between Japan and African countries, it uses a multilateral framework involving the participation of international organizations.

It is also broadly accessible to diverse stakeholders, including those from private enterprise, academia, and civil society, with the number of participants at TICAD VI held in Nairobi, Kenya exceeding 10,000. TICAD is also a place where African ownership is given serious regard.

In addition, follow-up meetings at ministerial level are held annually to enable the respective ministries to properly stay abreast of the status of ongoing projects resulting …

Silafrica, a leading packaging supplier to East Africa and surrounding regions and trusted supplier to some of the largest food and beverage brands like Pepsi, Coca-Cola, Diageo, Heineken, Unilever, and others, has become the first African-based company in the packaging industry to join the Pledge 1% movement.

Pledge 1% is a global movement that encourages and empowers companies of all sizes and stages of growth to give one percent of either their profit, equity, staff time or product to any charity of their choosing.

This global campaign is dedicated to creating a new normal, whereby giving back is integrated into the DNA of companies, regardless of their size. Comprised of more than 8,500 companies in over 100 countries, it encourages and challenges these companies to pledge one percent of equity, profit, product and employee time to their communities.

With headquarters in Nairobi, Kenya it has manufacturing hubs in Kenya, Tanzania, …

The 2019 FinAccess Household Survey noted that mobile money has been instrumental in deepening financial inclusion…

The Alliance for a Green Revolution in Africa, (AGRA), an agricultural think tank and partnership-driven institution in Africa has announced a change of guard with leading entrepreneur and owner of Econet Group Strive Masiyiwa stepping aside and former Ethiopian Prime Minister Hailemariam Desalegn taking the helm.

The seat has had a high-level representation since the founding chairman Kofi Annan stepped aside. It has been instrumental in developing formidable partnerships in the continent is promoting agricultural growth and investments.

‘I am thankful that I succeed Mr. Masiyiwa, a remarkable continental leader, who leaves behind a solid organization and an impressive track record. I remain certain of his support in the journey to achieving the continent’s major agricultural prospects,” noted Hailemariam Desalegn.

“Around the world, food security ranks high up on the governments’ development agenda…the Maputo Declaration requires African countries to spend 10 percent of their national budgets in agriculture, part of …

Transsion holdings, the makers of Techno, Infinix and Itel mobile phones has partnered with Wapi Capital, an African  fintech company that is investing and creating solutions in financial services, to find and fund fintech startups under the program Transsion Future Hub.

The Chinese company which is also the largest mobile phone manufacturers and distributors in Africa will use the program to seek and pinpoint innovative African fintech startups from all around the continent to provide funding as well as access to new markets.

On the other hand, Wapi Capital an alumni of Nairobi Garage will take the lead in the identification of early stage fintech (Financial Technology) businesses for the purposes of partnership, providing capital, mentorship and other support to these businesses.

The move by the two parties has been advised by Africa’s growing information technology sector that has been growing at an average of 10-20 percent in various countries …

In late October, the Russian city by the Black Sea, Sochi will host the Russia-Africa Summit, co-chaired by President of the Russian Federation Vladimir Putin and President of the Arab Republic of Egypt Abdel Fattah el-Sisi, who also heads the African Union.

This is the first time such an event is being organized with growing interest from Moscow of trade, politics, and development of Africa, amid murmurs from US and allies on the role both Russia and China are playing in Africa.

The announcement which was made by Russia said special attention will be paid to the current state and prospects of Russia’s relations with African countries and to the expansion of the political, economic, technical and cultural cooperation.

Equally, it is planned to discuss a wide range of issues on the international agenda, including joint response to new challenges and threats, and the strengthening of regional stability. “At the …