Trending
- How transition finance can catalyse Africa’s green industrial revolution
- Stanbic PMI Report: Mixed performance as Kenya’s agriculture, construction offset manufacturing decline
- Uganda’s land management gets a tech makeover to boost transparency
- Nigeria’s output dips fastest in 19 months on a sharp rise in costs
- Apple faces growing backlash over Congo exploitation
- Why East Africa is staring at higher wheat prices in 2025
- Nairobi Gate SEZ pumps $7 million into Kenya’s agro-processing industry
- What impact will the US election have on Africa?
Browsing: President Uhuru Kenyatta
As the World shakes off the effects of Covid-19, the global energy sector has a long way to go to recover, but the baby steps have begun.
In his remarks at the 20th Meeting of the Joint Ministerial Monitoring Committee (JMMC), mid last month, the OPEC Secretary General, Mohammad Sanusi Barkindo, underscored the devastating impact of the Covid-19 pandemic and what he described as ‘…its complete disruption of daily life.’
“These monthly meetings of both the JTC and the JMMC send a reassuring message that we are ready, willing and able to address shifting market conditions”, he said during the video conference.
The SG maintained that ‘…the historic actions taken by OPEC and its partners in the DoC have contributed to an improved balance in the oil market compared to the situation in April, however, the JTC and JMMC must remain vigilant in monitoring market conditions.”
While the global …
Uhuru Kenyatta, President Kenya emphasized the importance of housing and construction sector in the post-Covid recovery plans during the Shelter Afrique’s 39th AGM and Symposium in Nairobi.
Reading a speech on his behalf at the opening ceremony, the Cabinet Secretary Infrastructure, roads, housing and urban development, Mr James Macharia, Uhuru Kenyatta said despite the severe impact the sector has experienced due to economic slowdown, the sector can rebound quickly.
“The construction sector can therefore be targeted to lead the rebound in the broader economy. Economic history teaches us that the construction sector, including housing construction, has been very effective in driving economic recovery. Housing construction provides excellent opportunities for job creation,” President Kenyatta said, adding that while the construction sector requires significant capital, record-low interest rates have made the cost of financing construction projects remarkably affordable.
“The affordable housing agenda should remain front and centre in the economic recovery debate …
Across the continent to West Africa where we find one of Africa’s largest economies, Nigeria. Here we find another railway deal gone bad, the $500 million Lagos – Ibadan railway.
In a similar manner to Kenya’s SGR debacle with China, which resulted in Kenya sinking heavily into debt that it simply cannot afford to pay and restructure, Nigeria is now finding a similar fate.
According to the country’s Director General for Nigeria’s Debt Management Office (DMO) Patience Oniha, when making a deal with China, ‘…the Chinese determine the cost of projects, give us loans tied to the projects and the projects must be executed by Chinese firms alone.’
It is alleged that not only does China force importation of even the smallest of laborers but also all the equipment and guess where they are imported from? Yes, China.
It is further argued that by so doing, China is using these …
