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• President William Ruto is seen to be leaning more towards the West as opposed to his predecessor and former boss Uhuru Kenyatta, who had built a strong relationship with Asian countries.
• During Mr Kenyatta’s 10-years rule, China became a major financier and developer of key projects among them the $3.6 billion Standard Gauge Railway (SGR).
• China and India have also been dominating the country’s trade as the Asian market accounts for 65.7 per cent of Kenya’s total import bill.

Since coming into office in September last year, Kenya’s fifth President William Ruto has been keen on building and expanding alliances with countries that can help foster trade that remains in favour of foreign nations.

An interesting facet, however, has been his renewed interest in the United States and Europe, in what is seen as a slow but sure move to attract more investments while growing market for Kenya’s exports, manly …

• Massive deforestation in Tanzania has left policymakers scrambling for options and they have now set an ambitious target for Tanzania to switch to clean energy kitchens by 2025.
• A huge challenge, however, remains how to dismantle Tanzania’s $1 million charcoal industry that provides livelihoods to millions of poor citizens from illegal forest loggers in the countryside to small-scale urban traders.
• Tanzania’s Ministry of Energy data shows at least 33,000 people die every year due to complications associated with the continued use of charcoal, firewood, and other crop residues for cooking.

I find Joseph Lucas, a charcoal delivery man in Dar es Salaam hurriedly carting neatly packed sacks of the black carbon residue to his customers in Tanzania’s commercial capital.

Lucas is part of the supply chain of charcoal in a country where roughly 90 percent of households depend on the wood fuel product as their primary source of energy. The …

• According to the UNDP, only 20% of Africans can access quality health care easily.
• World Health Organization recognizes Rwanda as one of the few American countries to perform well on the goal of Universal health coverage.
• The Health Emergency Preparedness and Response Program (HEPR) has awarded 34 grants worth $177 million as of June 2022.

Rwanda is among the upcoming African countries trying to catch up to its sister countries. Today Rwanda is among the few African countries that strive to attain Universal Health Coverage, and this comes because 90% of Rwanda’s population has health insurance.

Understanding what exactly is Universal Health Coverage

Universal Health Coverage, or UHC, is used when a government can provide medical access to all its citizens regardless of where and when the patient requires it. It is a known fact that medical debt is among the top three causes of personal financial difficulties, alongside education …

• In 1923, South Africa had over 40 municipalities and 18 private companies, each struggling to dominate the industry.
• Despite the efforts of the SA government to ensure no severe loss, the power outages alone have caused its economy’s GDP to reduce by 1.3%.
• Eskom is about $25.6 billion in debt, which stems from its days as Escom.

Eskom’s corruption and inability to provide suitable power is plaguing South Africa’s economy. The persistent power shutdowns, or load shedding as it is known in South Africa, has significantly hindered the country’s economic growth despite steadily leading Africa’s technological revolution. While weathered power plants have contributed to the meltdown, corruption has been the single biggest contributor to the current power crisis.  

South Africa is the most industrialized country in Africa. According to Statista, South Africa had the second-highest GDP in 2021 and pioneered Africa in the 4th Industrial revolution. Unfortunately, it is also …

Africa is set to establish a $1B orbital spaceport in the Republic of Djibouti, positioning the continent in the global space race, making the first on African soil. This follows the signing of a partnership deal with Hong Kong Aerospace Technology to build a facility for launching satellites and rockets in the Northern Obock region.

Djibouti’s president, Ismael Omar Guelleh, presided over the signing of the preliminary deal, also to be done in partnership with Touchroad International Holdings Group, paving  way for the final agreement; a formal contract signing expected in April or May, following a visit to China by Djibouti experts.

Indeed, it’s a milestone for the continent which has been the only region in the world without a launch site. It’s a major project that will boost the economy of this desert nation in the Horn of Africa, and is projected to be built over five years.

The …

Regionalising the power balance between central and commercial banks can address the risks associated with the adoption of CBDCs in Africa. Commercial bank digital wallets can thus reduce the costs underlying the correspondent banking channels. These wallets can also promote cross-border trade in Africa by restricting the focus of central banks to the B2B and interbank payment ecosystems. Central banks have traditionally managed this well while incorporating these systems across borders. In such a scenario, each actor—public and private—does what it does best.…

• Blockchain is one of the pioneer technologies leading the 4th Industrial revolution alongside AI. It has proven its compatibility with Africa’s diverse economy.

• According to Statista, the total economic revenue drawn from E-commerce within Africa exceeded their initial estimate of $16.5 billion and at an all-time high of $37.77 billion. 

• Individually blockchain and E-commerce have revolutionized Africa’s digital world. Although combined, they ensure rapid efficiency and improvement in Africa’s digital economy.

Over the past decade, Africa has relatively gone through a slow but steady metamorphosis within its overall economy. The upcoming 4th Industrial Revolution has shifted young African entrepreneurs’ minds. Long gone are the days when Africa is only recognized for its agriculture as the continent steps into a headstrong digital age.

E-commerce has thrived within Africa’s borders, having organizations like Jumia, which achieved its unicorn status simply from its endeavours within Africa. E-commerce is a thriving economy slowly but …

• Inflation and high prices are the main factors negatively impacting the businesses of  Micro,Small and Medium Enterprises (MSMEs) in Africa according to the latest data from GeoPoll. 
• The report indicates that the next biggest impacts include lingering effects of the pandemic.
• To cope with the impacts of inflation, 36 percent of businesses owners had to chip in their personal savings to support their business.

Inflation and high prices are the main factors negatively impacting the businesses of  Micro, Small and Medium Enterprises (MSMEs) in Africa according to the latest data from GeoPoll.

The data dubbed Africa MSME Pulse Survey conducted in partnership with Africa 118 and The African Talent Company indicates that the next biggest impacts include lingering effects of the pandemic, rising exchange rates and political uncertainty. However, in Ethiopia, the tension in Tigray is creating political uncertainty more than any other factor.

“To cope with the impacts of …

• The change in patterns of trade triggered by these two major events is now forcing the MNCs to go back to the drawing board.
• MNCs need to reconfigure their trade routes. They have to re-lobby for assured capital and they have to broker new destinations for their goods.
• With the changing global trade polarities, the MNCs are rethinking China, and eyeing future giants like Africa. 

The much acclaimed African Continental Free Trade Area (AfCFTA) that came into being last year may just have saved Africa from a new world trade order.

Thanks to the global pandemic and then the Russia-Ukraine war, the plate tectonic of global trade is shifting. The resulting divergence and convergence are squeezing and pulling in different directions.

Multinational Companies (MNCs) have, for the last three decades or more, controlled trade. These international corporations have enjoyed the fruits of globalization more than any other business entity.

They …

• The Reserve Bank of Zimbabwe last month began to loosen the tight monetary policy it had in place over the last 2 years to act against inflation.
• The hawkish stance of the central bank began to change when the RBZ announced that it would reduce interest rates by 50% to 150%.
• Zimbabwe’s central bank’s hawkish stance has resulted in a weakening economy and rising unemployment.

The Reserve Bank of Zimbabwe held the global record for highest interest rates, reaching a staggering 200%. The central bank has lowered this to 150% on the grounds that the inflationary conditions that required the significant increase have subsided. As is typical with hawkish monetary policy approaches, Zimbabwe’s central bank’s hawkish stance has resulted in a weakening economy and rising unemployment.

On 3 February 2023, the Zimbabwean monetary authorities issued the country’s first Monetary Policy Statement via the central bank. Twice a year, the Reserve …