Browsing: President William Ruto

The International Monetary Fund (IMF) has committed an additional $938 million to Kenya as part of a strategy to stabilise the country’s economy.…

International delegates have gathered in Nairobi, Kenya, hoping to make further progress towards a landmark treaty to address global plastic pollution. The meeting is happening at the UNEP headquarters as negotiators seek to solve the scourge of pollution resulting from more than 430 million metric tonnes of plastic waste produced annually.
More than 2,000 delegates have attended the global plastics summit. They include representatives from environmental organisations, the oil and gas industry, and civil society groups. The delegates in Nairobi will mull two options: a wide-ranging strategy targeting plastics production or a limited approach focussed on waste management.…

In a recent announcement during the US-Africa Business Roundtable in the United States, Kenya’s President William Ruto revealed that Safaricom, a leading telecommunications company, is establishing a strategic partnership with Apple Inc. The Safaricom-Apple partnership will integrate the widely-used mobile money platform, M-Pesa, with Apple’s ecosystem. This integration will expand M-Pesa’s mobile financial services globally.
President William Ruto announced the deal after he toured Silicon Valley in San Francisco Bay, United States, on 16 September. The Kenyan leader is fast gaining popularity across Africa and globally. He has led from the front in marketing Kenya as a conducive ground for foreign business to thrive.…

• Youth leaders, entrepreneurs and policymakers presented the Africa Youth Climate Assembly Declaration to Kenya’s President William Ruto, and African Development Bank Group President Akinwumi Adesina.
• The declaration advocates for the accelerated establishment of a Global Green Bank and a New Global Financial Pact, aiming to prioritise young people and their interests in climate financing. 
• During the Africa Youth Climate Assembly, a wide range of issues emerged including youth access to finance, Africa’s energy transition, the plight of millions displaced owing to the impacts of climate change and mobilisation of resources for sustainable development.

As the Africa Climate Summit draws to a close, a key highlight from the three-day summit is that Africa’s youth need to be more involved in the climate change conversation. 

This, as youth leaders, entrepreneurs and policymakers presented the Africa Youth Climate Assembly Declaration to Kenya’s President, William Ruto, and African Development Bank Group President Akinwumi Adesina.…

• At the first Africa Climate Summit, President William Ruto of Kenya ignited a collective vision for a bold, affirmative, and climate-resilient African future.
• Dr Ruto says Climate Summit seeks to scrutinize ideas, assess perspectives, and unlock solutions not to catalog grievances.
• This Summit is our moment to imagine a bold and radically affirmative African future – Dr Ruto.

In a display of environmental consciousness, President William Ruto of Kenya embarked on an unconventional journey to the inaugural Africa Climate Summit in Nairobi, setting an inspiring example for leaders worldwide.

Opting for a small electric car instead of the usual government convoys, President Ruto cruised through the freewheeling streets of Nairobi cleared of the often poorly maintained buses and vans belching smoke, making a statement about sustainable transportation.

His eco-friendly commute underscores the urgent need for innovative solutions to combat climate change at all levels of society, including the highest levels …

• The central role of human capital in development is fast catching up with the developing world.
• Tanzania President Suluhu Hassan says there is no right time to deliberate on the human capital issue than now.
• President Ruto of Kenya says Africa must deliberately to make it possible for the youth to access job opportunities.

The vital role of Africa’s human capital is indispensable. It is a powerful tool in driving the growth of economic investments in the continent of 1.3 billion people. Africa has a combined GDP of nearly $3.1 trillion and over 40 percent of the population is under the age of 15 years and younger. It is therefore important that Africa’s human capital is aligned optimally to foster growth.

The central role of human capital in development is fast catching up with the developing world. It is in light of this that the just ended Africa Human Capital …

• Kenya is keen on delivering quality engineering capacity by establishing Kenya School of Engineering.
• President William Ruto says engineering holds the catalytic power to Kenya’s Bottom-Up Economic Transformation Agenda.
• Kenya’s high-rise structures’ structural soundness has come under scrutiny in recent years, prompting concerns.

By pointing out that engineering innovation contains the catalytic capacity for the Bottom-Up Economic Development Agenda, President William Ruto is urging engineers to take the lead in Kenya’s development

“Engineering is our growth’s bedrock; the link between a country’s engineering capacity and its development is well established,” Dr Ruto explained during the 4th Engineering Partnerships Convention in Naivasha, Nakuru County.

Kenya School of Engineering

Dr Ruto said his administration seeks to build the best possible engine for engineering innovation, which is essential for promoting Kenya’s sustainable growth.

The President outlined how the establishment of a Kenya School of Engineering will help the government deliver quality engineering innovation …

• The government of Kenya is deploying measures to protect local industries from the onslaught of cheap imports.
• Kenya’s $26.4 billion FY2023/24 budget is an increase from $23.6 billion plan for the fiscal year ending June 30.
• The country is, however, facing high inflation, ballooning debt, and a high rate of joblessness.

President William Ruto’s first $26.4 billion budget for the FY2023/24 starting July 1st seeks to boost job creation, power growth of industries, and reduce borrowing.

Kenya’s $26.4 billion FY2023/24 budget is an increase from the $23.6 billion plan for the fiscal year ending June 30. East Africa’s economic powerhouse, Kenya, continues to struggle with growing inflation, skyrocketing debt, and a high unemployment rate.

Job creation targets Kenya’s youth

The lack of enough jobs is disproportionately affecting the country’s young people. The economy is also struggling from the impact of external shocks. For instance, Kenya is hurting from the Russia-Ukraine …

• Kenya’s President William Ruto is urging Africa to shift from exports of raw materials to industrial processing of goods. He says African economies must change tact to revamp import/export trade.
• Comesa bloc has a combined GDP of $805 billion and a global export/import trade in goods worth $324 billion. 
• In a radical move, Dr Ruto calls for merging of Comesa, the East African Community, and the Southern African Development Community. 

Kenya’s President William Ruto is calling on the Common Market for Eastern and Southern Africa (COMESA) member-state to embrace industrial processing of to boost the value of exports and in turn enhance Africa’s share of global trade. 

In a radical shift that is also seeking to boost trade across Africa, Dr Ruto is also calling for the consolidation of trading blocs Comesa, the East African Community, and the Southern African Development Community.

Industrial processing to boost Africa trade

By joining …

China’s reduced lending to Africa has raised concerns about the future of Africa’s economic development and its relationship with China. The reduction in lending is due to a combination of factors, including the slowdown in the Chinese economy, the growing debt burden of African countries, and China’s increased selectivity in its lending.

The reduced lending has several implications for Africa’s economic future. African countries must find alternative sources of financing, a shift towards domestic resource mobilization, a change in the balance of power between China-African relations, and a potential slowdown in infrastructure development. African countries must navigate these changes carefully to ensure sustainable economic growth in the coming years.…