- Ruto strikes big in US as Kenya’s FDI landscape looks promising
- Tanzania’s revenue collection on the upward path — Word Bank
- Global oil and gas giants flock to Tanzania Energy Congress
- South Africa-led unit asks US to renew AIDS relief plan PEPFAR
- Sendwave Pay to offer Kenya’s diaspora improved forex rates, lower costs
- Nigeria bets big on Cuba agri-pact to tackle food crisis
- A Safaricom-Apple partnership is on the horizon
- Africa’s energy quest: Challenges, opportunities, and partnerships
Russia’s invasion of Ukraine in February 2022 threw oil and gas markets into disarray. Consequently, the world experienced the first real global energy crisis during the uneven economic recovery from the COVID-19 epidemic. Russia’s inclusion in the OPEC+ group has hampered international attempts to manage the situation. This has made it harder to handle the significant inflationary effects of rising global fuel prices, particularly in developing nations.
Global fuel prices have risen exponentially in the last few months. The rise is hugely significant, as it has seriously aggravated the global cost-of-living crisis. African economies have particularly been on the receiving end. The continent has suffered from disrupted supply chains and a slowdown in the global economic outlook. Thus, rising energy costs complicate matters even further.…
For many Kenyans, life was unbearable during former President Uhuru Kenyatta’s reign. But just one year after President William Ruto came to power, life is getting more onerous. High taxation, the depreciation of the shilling against the dollar, and record-high fuel prices have highlighted the last few months. This has painted a grim picture of Kenya’s future and shattered citizens’ hopes for economic reinvigoration.
On September 14, 2023, the Energy and Petroleum Regulatory Authority (EPRA) announced record-high fuel prices for the September-October regulation cycle. A litre of super will now retail at Kes 211.64, diesel at Kes 200.90, and Kerosene at Kes 202.61. This represents an increase of Kes 16.96, 21.32, and 33.13, respectively, in the new prices announced last midnight.…
- Heads of State from China, Brazil, and India, except Russia will attend the 15th BRICS summit in Johannesburg South Africa, starting August 22.
- President Vladimir Putin will participate in the summit virtually but will be represented in Johannesburg by Foreign Minister Sergei Lavrov.
- The bloc is also expected to discuss how to boost local currency fundraising and lending within the New Development Bank.
The five nations, Brazil, Russia, India, China and South Africa (BRICS) are now a band of economies showcasing their ambition to maximize their emerging economies potential, across geopolitics axis. In one day time, heads of state from China, Brazil, and India, (except Russia) will attend the 15th BRICS summit in Johannesburg South Africa from August 22-24.
South African President Cyril Ramaphosa, Chinese President Xi Jinping, Brazil’s President Luiz Inacio Lula da Silva and Indian Prime Minister Narendra Modi are expected to discuss a number of items as …
- Africa is the new battlefront where Russia and the US are vying for prominence.
- The battle is not new. During the Cold War, Russia and the US sought to expand their influence by supporting various African governments.
- The outcome will determine not only the fortunes of the competing powers but also the trajectory of African nations.
In the vast expanse of Africa, a new chapter in geopolitical influence is being written, with Russia and the US vying for prominence. As the continent rises in global importance due to its resources, burgeoning markets, and strategic significance, the world powers are engaging in a multifaceted competition for the hearts, minds, and resources of African nations.
Historical echoes of Russia and US maneuvers
The geopolitical dance between Russia and the US in Africa is not entirely novel. During the Cold War, both powers sought to expand their influence by supporting various African governments,…
The BRICS countries bear a profound responsibility amid a shifting global economic axis. They have the extraordinary chance to reshape the world order, bestowing more significant equity and amplified voice upon the realms of the Global South.
A defining moment in the global economic axis awaits as the BRICS Summit 2023 gathers in South Africa. It signals the member countries to seize this opportunity to shape an unprecedented global economic governance system, an inclusive, all-encompassing, and efficient system.…
- In an escalation of geopolitical tension, Russia has pulled a power move, ending the Black Sea Gran Initiative. To what extent does this decision threaten food security in Africa?
- Collapse of the deal will drive inflationary pressure on grain prices, especially in countries heavily reliant on imports, experts warn.
- Currently, Africa is facing biting food shortage as inflation fueled by high food and fuel prices grips economies.
The Black Sea Grain Initiative, a deal that allowed the export of Ukrainian agricultural produce especially grains through the Black Sea, has collapsed following the withdrawal of Moscow from the agreement. For those unaware, the Black Sea Gran Initiative, was negotiated by Turkey and the United Nations in July 2022.
The deal, up to Monday July 24th, was allowing ships to carry fertilizer and agricultural products from three Ukrainian ports. It let ships to sail through strictly mapped routes, to avoid mines and …
- The second Russia-Africa Summit is underway in St Petersburg, Russia.
- The first Russia-Africa summit in 2019 culminated in the signing of 92 agreements, worth over $11 billion.
- Russia is looking to maintain major trade deals with Africa—a market of 1.3 billion people.
The second Russia-Africa Summit is currently underway in St Petersburg, Russia. This crucial summit taking place on 27th and 28th July has left tongues wagging in the West. The summit has the potential to either further isolate Russia globally or turn the tide and see Africa back Moscow.
How the summit plays out will have very significant outcomes in the determination of the ongoing geopolitical shifts.
$11Bn worth of deals in 2019 Russia-Africa summit
In 2019, Russia and a score of African leaders met for the first Russia-Africa Summit which culminated in the signing of 92 agreements, worth over $11 billion. This time around, with Africa facing a …
The implications of fragmentation and polarization on Africa’s economic growth and whether these trends will continue are unknown. What is certain is that multilateral organizations will need to continue encouraging international dialogue to promote economic integration and collaboration. As a result, one problem that emerges is whether African nations would adopt a unified stance or take a non-aligned approach in the Sino-American dispute.…
- The 12th edition of The Annual Investment Meeting (AIM), highlighted investment hotspots in various parts of the world.
- The sessions focused on Namibia, ASEAN and the Russia region as well as new investment destinations such as Moscow and Armenia.
- Experts highlighted how the increasing cooperation is leading to a favourable investment climate and opening up new opportunities for businesses.
The 12th edition of the the Annual Investment Meeting (AIM) has highlighted Namibia among other top investment hotspots internationally. AIM, which was hosted in Abu Dhabi, UAE, featured a series of regional and destination forums demonstrating available opportunities in various parts of the world.
In Africa, a special focus was given to Namibia. The session highlighted the southern African country’s potential as an investment hotspot, citing its $13 billion GDP reported in 2022. In addition, the country is rich in oil and gas reserves. Further, Namibia is deploying large-scale projects in …
The global financial landscape has undergone a remarkable transformation in recent times. Remarkably, the issue of the de-dollarization of international trade is slowly but steadily gathering momentum. A rising trend toward de-dollarization is challenging the longstanding supremacy of the United States in the international financial system. As the dominant global reserve currency, the US dollar remains pivotal in international trade, investment, and financial transactions.…