The sectors that propelled Kenya to the top of the economic table have either stagnated or lost their lustre for investors For decades, Kenya has been the leading country in East Africa. The economy has been attracting investors and international organizations to her shores, making her the favourite destination in Eastern Africa. Many have come to see the country as the key economic and commercial hub of East Africa. For instance, the United Nations Office at Nairobi (UNON) is the UN’s headquarters in Africa and one of the four main UN secretariat duty stations. This shows how important Kenya’s position…
Author: Antony mutunga
As leaders and delegates from all over the world gathered at the Kenyatta International Convention Centre (KICC) in Nairobi for the Africa Climate Summit & Africa Climate Week 2023 since the 4th of September, the main topic has been the promotion of green energy and finance solutions to handle the climate crisis the world is facing. Africa has been active in the uptake of green energy but the continent still continues in its exploration of oil and gas causing activists to condemn African leaders as they consider these energy sources as dirty. However, knowing their advantage to Africa, the African…
As the majority of Africa’s youth continue to face unemployment and scarce opportunites for gain, and with many African economies witnessing a slow recovery following COVID and global inflation, entrepreneur and artist, Gathige Maina is making it his mission to educate youth on the opportunities that the African Continental Free Trade Area (AfCFTA) offers . It has been over four years since AfCFTA came into force, and even though not fully implemented, intra-African trade has improved. According to the United Nations Economic Commission For Africa (UNECA), the levels of intra-African trade have increased from 13% or so, before the African…
The African Union has launched the African Union One Health Data Alliance Africa Project to optimize the health of humans, animals, and ecosystems by recognizing their interconnectedness and interdependence. The project was launched at a workshop by the African Union – Inter-African Bureau for Animal Resources (AU-IBAR) held between the 14th and 15th of August at Naivasha. The One Health approach seeks to unify human health, animal health, and the environment and aims to balance the well-being of various living organisms and ecosystems. It will highlight the need for collaborative efforts to ensure clean water, energy, air, safe food, and…
For a long time, Africa has been dictated to in its internal affairs, including trade, politics, and governance, among others. Long denied, owing to the configuration of global geopolitics, a driver’s seat in determining its agenda, the relationship between the continent and the West has worsened as the West has focussed more on defending and advancing its interests and meshed the continent in long-running loans. During that time, Africa has made a tactical shift to the East, with China overtaking the US as Africa’s biggest trading partner. As a result of the growing trade between China and Africa, BRICS (Brazil,…
The African Export-Import Bank (Afreximbank) and global consultants, Development Reimagined (DR) have entered into a partnership to promote African brands in parts of Asia. Through the partnership, Afreximbank will provide a grant that is to assist Africa Reimagined (AR), a DR flagship programme, to introduce and promote high-end value-added Made-in-Africa products from different sectors such as skincare, fashion and beverages to China. According to Yusuf Daya, Director, AU/AfCFTA Relations and Trade Policy, Afreximbank, the collaboration is aimed at enabling access of African brands to global markets. “The vast Chinese consumer market provides immense opportunities for African businesses. We urge African…
In the last decade, tech start-ups in Kenya have become a popular trend with a number of them, becoming the go-to favourites for a number of Kenyans, especially during the pandemic when many relied on online services. The likes of Kune Foods, Notify Logistics, WeFarm, and Sky Garden witnessed a boom during the period, leading to profits at a time many companies were struggling. However, as the country recovered, these tech start-ups recorded a funding drought that saw them all close down in a span of a few months. Currently, Sendy, a logistics start-up, is facing challenges that has seen…
Phishing emails continue to be one of the most common methods to effectively perpetuate malicious attacks on organizations around the globe, and cyber-criminals have evolved to using HR business-related emails to target users. According to KnowBe4 Q2 2023 top-clicked phishing report, hackers have been targeting individuals especially employees with HR business-related messages as they pique their interest. As a result of their evolving nature, cyber-criminals are now coming up with phishing attacks that are more realistic and believable. Through these messages, hackers prey on the emotions of users by aiming to cause distress, confusion, panic or even excitement in order…
The African Development Bank Group (AfDB) has received global recognition for its inaugural hybrid capital issuance, positioning the Bank as a pioneer in innovative sustainable financing. The S&P Global Ratings assigned a AA-rating to the debut transaction, the highest rating for hybrid capital. The proposed issuance would be the first ever by a multilateral development bank. Hybrid capital will have a multiplier effect on the Bank’s financing, and allow for the issuance of additional green, social and sustainable bonds to finance projects targeting some of the continent’s most critical development challenges including food security, access to water and health services,…
For years now, mergers and acquisitions (M&A) have gained popularity in Africa. In fact, many African start-ups have come to see them as an exit strategy or as a way of consolidating their positions and expanding. Even though start-up M&As are becoming the norm in Africa, they took a hit in the first half of 2023, declining to levels last seen in 2019. According to Africa The Big Deal, start-up deals database, the number of start-up M&A in Africa in H1 2023 stood at 16 as compared to 41 in the same period in 2021 and 40 in 2022. The…