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The expansion of Africa’s economy—exemplified by East Africa’s vibrant economies(Kenya, Tanzania, and Rwanda) by adopting the manufacturing industry landscape and marrying it with high-end technological developments have both triggered a demand for more power,currently leaning towards renewable energy—all the while grappling with the challenge of high unemployment rates.

The United Nations 25^thConference of Parties (COP 25) on climate change highlighted strictly on nations mitigating greenhouse gas emissions by adapting to renewable energy in their economies.

Morocco and Zambia are now embracing the adoption of wind and solar power with assistance from Green Climate Fund (GCF) and the African Development Bank (AfDB).

GCF and AfDB supported Zambia with a $154 million renewable energy fund to finance its framework, and lift the nation from electricity demand challenges, as the country relies on hydropower generation for 90 per cent of its needs.

Renewable energy in Africa could be a mighty saving…

The Finance Bill, among other things, proposed an increase in the Value Added Tax (VAT) rate from 5 per cent to 7.5 per cent. The additional revenue from the increase in VAT rate would be used to fund healthcare, education and infrastructure. The Government intends to mitigate the impact of the VAT rate increase by introducing a VAT exemption threshold for businesses with a turnover of less than N25 million per annum, and expanding the list of VAT-exempt items to include the following:

1. Brown and white bread;
2. cereals including maize, rice, wheat, millet, barley and sorghum;
3. fish of all kinds;
4. flour and starch meals;
5. fruits, nuts, pulses and vegetables of various kinds;
6. roots such as yam, cocoyam, sweet and Irish potatoes;
7. meat and poultry products including eggs;
8. milk;
9. salt and herbs of various kinds; and
10. natural water and table water.

The Bill was signed into law by the President, Muhammadu…

On Monday, the South Africa’s rand firmed back to below the key 15.00 per dollar mark, which is mostly on profit-taking and month-end positioning after a sustaining a steep slide triggered by the Wuhan coronavirus shaking the world, Reuters reveals.

At 0700 GMT the rand was 0.43 per cent firmer at 14.9650 per dollar, having ended at 15.0300 on Friday. The coronavirus dragged the currency to its weakest level in three months—traded at 14.4800 last Monday, which was 0.59 per cent lower than its New York Close on Friday, January 24.

Reuters reported that investors concerned about the spread of the coronavirus wiped more than $400 billion off the value of China’s stocks in the first trading session in two weeks after an extended Lunar New Year break as the death toll from the epidemic rose to 361.

READ:Coronavirus and the Implications for Emerging Markets

The rand has tumbled…

Plasco Limited in Tanzania is the largest manufacturer of plastic pipes for water supply and sanitation in
the country has launched a USD 4million factory expansion using‘Weholite’ technology, the first of its
kind in East and Central Africa used to produce Structured Wall High Density Polyethylene (HDPE) pipes
for Sewerage and Drainage, Manholes and Tanks forstorm water retention and drinking/potable water.

The company aims to provide modern water storage and sanitation solutions to the region through the
use of this new technology that is now available in Tanzania and East Africa as  a whole. The factory was
inaugurated in Temeke, Dar es Salaam by the Minister of Industry and Trade, Innocent Bashungwa;
other government official in attendance included the Deputy Permanent Minister of Water, Emmanuel
Kolobelo.

Speaking during the event, Hon. Bashungwa remarked on the company’s use of innovative technology to
accelerate the progress of the pipe manufacturing industry in…