Browsing: Russia Ukraine war

• President William Ruto who is attending the third Belt and Road Forum in Beijing is urging Chinese investors to target energy, water and housing sectors in Kenya.
• He said Kenya will support investors who will add value to the country’s abundant raw materials.
• The President witnessed the signing of a Memorandum of Understanding between the Ministry of Energy and Petroleum and Energy China.

Kenya is seeking more investments from China amid a slow return to borrowing for development, which could see the East Asian country continue with its dominance in Kenya’s infrastructure space.

President William Ruto, who is attending the third Belt and Road Forum in Beijing, has urged Chinese investors to exploit opportunities in the fields of energy, water and housing in Kenya. He said Kenya will support investors who will add value to the country’s abundant raw materials.

“Kenya presents real opportunities for investment especially in transformative areas …

• Central African Republic (CAR) may see growth projected at 3.6 percent in 2024 and 2025.
• The positive outlook is driven by anticipated higher international prices of timber, CAR’s main export.
• The World Bank says fuel shortages took a heavy toll on CAR leading to high levels of acute food insecurity.

The Central African Republic (CAR) is set to witness a return to economic growth this year after stalling in 2022, with the World Bank projecting 3.6 percent in 2024 and 2025. The latest edition of the World Bank’s CAR Economic Update indicates that heavy flooding and severe fuel shortages took a heavy toll on the country’s economy leading to high levels of acute food insecurity.

Economic activity in CAR may see a modest rebound over the medium term, with growth projected at 3.6 percent in 2024 and 2025. This is, however, provided that fuel supply in the domestic market improves …

• Governor Patrick Njoroge has written to Janet Yellen seeking audience with her during this year’s Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF).
• The meetings are set to take place in Washington DC from  April 10 –16.
• In January, the World Bank revised downwards Kenya’s growth projection for 2023 to five per cent from 5.2 per cent.

The Central Bank of Kenya (CBK) governor is keen to meet the US Secretary of the Treasury, as the East African country navigates through tough economic times occasioned by both global and domestic factors.

Governor Patrick Njoroge has written to Janet Yellen seeking audience with her during this year’s Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF), set to take place in Washington DC from  April 10 –16.

This is after failing to meet Yellen last October.

“I would greatly appreciate …

Over the course of the two agricultural seasons that will comprise 2022 and 2023 in Togo, the country anticipates producing an additional 37,500 tonnes of grains. The food and nutrition security of approximately 120,000 additional people will be improved.

The National Food Security Agency, Management Pool and Agricultural Input Supply, the Advisory and Technical Support Institute, and the Agricultural Financing Incentive Mechanism are just some of the organisations that benefit from the comprehensive capacity-building component in the works for the Togolese agricultural sector.

The AfDB Group launched a US$1.5 billion African Emergency Food Production Facility on May 20, 2022, to address the effects of the war between Russia and Ukraine, leading to soaring food prices worldwide. The facility aims to provide agricultural seeds to 20 million producers across Africa.

This facility was launched in order to address the effects of the war between Russia and Ukraine, which has led to …

Further, the IMF argued that the ECF arrangement for Tanzania supports government priorities, strengthening fiscal space for much-needed social spending and high-yield public investment, resuming and advancing the authorities’ structural reform agenda and strengthening financial deepening and stability.

Moreover, the IMF statement noted that “the ECF arrangement is centred on supporting the economic recovery from the scarring effects of Covid-19 and coping with spillovers from the war in Ukraine; preserving macroeconomic stability, and advancing the structural reform agenda toward sustainable and inclusive growth.”

On a broader scale, the IMF’s financial support goes after levitating Tanzania’s essential priorities.…

Further, the Organisation of Petroleum Exporting Countries (OPEC) revealed that India’s demand might jump by 8.2 per cent in 2022, to hit 5.15 million barrels per day. This would be on the back of continued recovery against the COVID-19 pandemic.

The country’s demand for the commodity increased by 5.61 per cent from 4.51 million barrels per day in 2020 to 4.76 million BPD in 2021.

OPEC further noted that oil demand would recover in 2022, amid the expected containment of the Omicron variant of COVID-19 and economic growth of 7.2 per cent this year.…