Browsing: premium

• Last year, the mining sector suffered 6.5% contraction, attributable to a dip in production of titanium and soda ash minerals.
• Overall, Kenya's total earnings from minerals dropped by 4.3% to $261.7 million in 2023.
• A further dip could be in the offing as Base Titanium, which accounts for 65% of total mineral exports, is set to cease mining operations December.

The challenges gripping Kenya’s mining sector are set to worsen this December when Base Titanium, arguably the biggest miner in the country closes shop following the depletion of minerals at its focus area, Kwale County. Base Titanium's closure is expected to an abrupt end to the export of rare earth minerals of Ilmenite, Rutile, and Zircon.

According to the miner, which has been undertaking exploration activities in the region, there will be no major investments in the near future since results have shown lack of enough deposits to support commercial…

• The UAE, Saudi Arabia, and Qatar, have poured billions into developing airports, airlines, and seaports across Eastern Africa in the last 10 years.
• In the latest development, UAE’s Sharjah Chamber of Commerce and Industry is set to build a new international airport just outside Kidepo National Park, in Uganda.
• These investments are transforming the region into a pivotal stopping ground for global trade, tourism, and travel.

The economic ties between the Gulf Cooperation Council (GCC) countries and Eastern Africa have deepened significantly over the past 10 years, driven by strategic investments in key infrastructure.

The Gulf nations, notably the United Arab Emirates (UAE), Saudi Arabia, and Qatar, have poured billions into developing airports, airlines, and seaports across Eastern Africa.

These investments are transforming the region into a pivotal stopping ground for global trade and travel, enhancing connectivity, and fostering economic growth.

Eastern Africa airports and airlines enhancing connectivity

The UAE…

• Africa must invest in human development to catch up to the Fourth Industrial Revolution (4IR).
• There is a need for policy commitment to developing Africa's human resources.
• Investing in education is the only way Africa will catch up to the 4IR.

With the majority of its workforce unskilled, Africa is again left behind. At the same time, the rest of the World moves forth in the fourth Industrial Revolution (4IR)."African countries must support skills training and put in place the right policies to tap the benefits of the fourth Industrial Revolution," advises Raymond Gilpin.

The economist believes that by investing in its most significant resource, Africa can strategically catch up with the Fourth Industrial Revolution (4IR).It requires dedicated policymaking focused on raising a generation of skilled labour capable of participating in and innovating digital revolutions in all sectors. By investing in transforming its human skills, Africa can…

• Under a new COMESA programme, farmers in the five East African countries are expected to access quality seeds, and training on how to improve production and distribution.
• The five-year programme is expected to help the countries cut post-harvest losses in horticulture to 40 per cent or lower, from highs of 60 per cent, for instance in Kenya. 
• Agriculture is estimated to contribute on average 27% of the gross domestic product (GDP) in the EAC and accounts for the highest share of employment not only in the region but across Africa.

Agriculture is the backbone of nearly all East Africa region’s economies and the main economic activity for more than 70 per cent of the population. It is estimated to contribute on average 27 per cent of the gross domestic product (GDP) in the EAC and accounts for the highest share of employment not only in the region, but the African.…

• For the first time, the China-Africa Economic and Trade Expo (CAETE) came to Africa, with Nairobi playing host last week.
• According to the Ministry of Commerce of the People's Republic of China, the forum is expected to spread across the continent, with different countries hosting it in the coming years.
• The Asian country is keen to continue its influence and trade dominance on the African continent.

China has launched a charm offensive on Africa in renewed efforts to tighten its grip on the continent. The West has recently shown growing interest in political and investment corporations, and China is seen as keen to continue its influence on the continent.

For the first time, the China-Africa Economic and Trade Expo (CAETE) came to Africa, with Nairobi playing host last week. According to the Ministry of Commerce of the People's Republic of China, it is expected to go around the continent, with…

• International arrivals increased from 1.48 million in 2022 to 1.95 million as the sector turned around from lows of 569,848 at the peak of the Covid-19 pandemic in 2020.
• Last year’s strong performance saw the country record the highest earnings in tourism receipts, which went up to $2.7 billion, up from $2 billion.
• The US remained the single largest market source even as Africa accounted for the lion's share of total arrivals during the year, with the East African region remaining key. 

Kenya’s tourist arrivals grew 31.5 per cent last year, official government data indicates, as the tourism sector recovered to pre-pandemic levels not only in the country but globally.

International arrivals increased from 1.48 million in 2022 to 1.95 million as the sector turned around from lows of 569,848 at the peak of the Covid-19 pandemic in 2020.

Last year’s strong performance saw the country record the highest earnings

• Kenya is keen on extending its pipeline to Malaba (Kenya-Uganda border), with Uganda expected to construct a link line to Kampala.
• According to the Shippers Council of Eastern Africa (SCEA), Mombasa used to command up to 70% of transit business, but this has decreased to 60 per cent.
• Uganda imports an average of 2.5 billion litres of petroleum annually, valued at about $2 billion, with KPC handling at least 90 per cent of the volumes.

Kenya is courting Uganda in a fresh bid to retain and possibly increase petroleum exports amid increased competition from neighbouring Tanzania. In recent months, East Africa's economic powerhouse has come under pressure from Tanzania, which is eyeing to tap more transit markets for imports and exports into the hinterland through the Dar es Salaam Port.

In the latest developments, Tanzania has offered to license Uganda National Oil Company (UNOC) to import petroleum products through Dar…

• Tanzania to earn $400 million annually from tobacco export/sells.
• The country now ranks second largest tobacco producer in Africa after Zimbabwe.
• Tobacco has no known health benefit. On the contrary, it causes disease, disability and premature death. Over 6 million people die globally every year from tobacco-related illnesses.

Tanzania has been ranked as the second-largest producer of tobacco in Africa, falling behind only neighboring Zimbabwe, even as tobacco's toll worsens globally. The ranking comes after a bumper harvest in the year 2022/2023, as announced by Tanzania’s Minister for Agriculture, Hussein Bashe.

According to the minister, the country’s tobacco production has more than doubled over the last year alone to 122,858 tonnes in FY2023/2024 from 50,000 tonnes earlier.

As of December last year, the export value of tobacco stood at $316 million, and with the increase in output, the minister is confident that this year the country will attain its…

• Shell Nigeria is selling off major stakes in the west African country.
• Critics blame the government of Nigeria for allowing the sell at a time the oil giant is facing suits on oil spills.
• Activists want Shell Nigeria to be held responsible for alleged decades of oil spills.

Shell Nigeria has sold off major stakes in the Western African country, sparking chatter that the move could be just a ploy to escape oil spill charges in the country. On the other hand, there is an argument that the Shell move is just a numbers game, a move to cut losses in troubled onshore Nigeria stakes in favor of its offshore investments.

Which of the two is true? Is Shell shedding off investments in on-land fossil fuels to redirect its resources to less-hassle offshore exploration, or is the British oil giant simply running away from oil spill charges?

Media has reported…