By Charles Muchoki | Africa Guardian African nations have been urged to develop strategies that enhance economic growth and improve citizens’ livelihoods by promoting clean cooking energy. This call comes as part of broader efforts to combat climate change and address environmental degradation. Dr. Mwigulu Nchemba, the Minister for Finance, made this appeal during the Africa50 Annual General Shareholders…
A handful of large-scale battery storage systems have already been built, or are currently under construction, in Africa. A prominent example is the Kenhardt project built by Norwegian company Scatec, which began supplying electricity to South Africa’s national grid late last year. The scale of Kenhardt makes it an exception, however. Although multiple countries, including Senegal and Mozambique are…
By Chisom Michael Africa plays a crucial role in the global oil market, with the continent holding a significant portion of the world’s proven oil reserves. Africa’s oil reserves represent approximately 7.5% of the global total, serving as an essential energy source for both the continent and international markets. The oil industry is a key component of economic growth…
Rwanda’s President Paul Kagame says he might introduce a tax on church collections, seeking to tame what has turned out to be extortion and exploitative tendencies by evangelical clerics. In his first address after taking a new oath of office this week, the Rwandan head of state, strongly criticised church leaders who masquerade under the cover of God to…
The African Energy Chamber (AEC) is protesting what it sees as discrimination by Western lenders in supporting the continent’s oil and gas projects, with owners and investors forced to suspend development plans, or into alternative local sourcing. Nj Ayuk, the chamber’s executive chairman, told The EastAfrican that by refusing to bankroll Africa’s oil and gas projects, with a direct…
Protteja Seguros will also sponsor a Financial/Insurance panel discussion at the AOG 2024 conference, which takes place in Luanda from October 2-3 LUANDA, Angola, April 29, 2024/ — Insurance company Protteja Seguros has joined the Angola Oil & Gas (AOG) 2024 conference as a silver sponsor. Reflecting its commitment to supporting growth of the Angolan oil and gas market,…
A strategic campaign to drive the payments discussion forward in Africa LONDON, United Kingdom, April 28, 2024/APO Group/ — Crown Agents Bank (www.CrownAgentsBank.com), the specialist provider of foreign exchange (FX) and cross-border payments for hard-to-reach markets, and Invest Africa (www.InvestAfrica.com), a leading platform for business and investment opportunities in Africa, today announces a new collaboration, ‘The Payments Exchange’. The campaign will…
The “Africa Road Builders” prize was created in honour of Babacar Ndiaye, who was President of the African Development Bank Group from 1985 to 1995 PRESS RELEASE ABIDJAN, Ivory Coast, April 30, 2024/ — The “Africa Road Builders” Selection Committee met in Dubai in the United Arab Emirates on 18 April 2024 where it awarded the Babacar Ndiaye Prize…
*NCBA Launches ‘NCBA Now’ App Amid Tanzania’s Economic Rise, Boosting Digital Banking Across Africa Dar es Salaam, April 26, 2024 – Tanzania is charting a course toward economic prosperity, bolstered by a foundation of stability and comprehensive sector-wide reforms under the guidance of President Dr. Samia Suluhu Hassan. This positive trajectory was underscored by Mr Nehemia Mchechu, Treasury Registrar,…
A high-level roundtable discussion at the 2023 edition of African Energy Week (AEW) highlighted how the U.S. and African countries can continue to partner across technology, policy and investment. The session began by delving into the U.S.’ relationship with Equatorial Guinea – in which it is the largest single foreign investor – and emphasized the need to identify bankable…
Perspective by Joe Davidson With the drive toward electric vehicles in high gear, the Biden administration signed an agreement with two African countries rich in minerals needed to meet the exploding demand. But China is the unmentioned actor in this international affair. The memorandum of understanding (MOU) between the United States, the Democratic Republic of Congo and Zambia was…
Businesses across the world are under increased pressure from regulators and the civil society to adopt sustainable business practices to complement the global climate change mitigation efforts. Studies show that consumers are also becoming increasingly environmental conscious, seriously scrutinising the environmental impact of the products and services they consume and steering clear of businesses they deem ‘unsustainable’. This has…
Tanzania’s High Commissioner to Nigeria, Dr Benson Bana said it was enthralling to see the bank scooping a number of international awards. Lagos. CRDB Bank PLC scooped four awards in the 5th Africa Procurement and Supply Chain Awards (APSCA) held in Lagos, Nigeria yesterday. A statement released by the bank said the institution won award on excellence in procurement…
Google opens yet another door to technology inclusiveness for native speaker of Kiswahili after adding it to Bard’s language options Arusha. Kiswahili has got another boost after being included in Google’s conversational generative Chatbot, Bard. The widely spoken medium of communication in the continent now becomes the first African language on the platform of the tech giant. Other languages…
Promoted | Companies are turning to “zero trust” to modernise their cybersecurity and keep pace with an evolving attack landscape. Organisations are turning to “zero trust” to modernise their cybersecurity programmes and keep pace with an evolving attack landscape. But determining where to start, the capabilities to prioritise and the actions needed to progress towards maturity can be complicated….
Open Institute of Technology (OPIT), a European accredited Higher Education institution under the European Qualification Framework (EQF), has launched two online Degrees in Information Technology for students and professionals in Africa and across the world. For its maiden academic year starting September 2023, OPIT looks forward to welcoming students from all over the world to its first class in…
Botswana, Eswatini, Rwanda, Tanzania, and Zimbabwe have reached the goal of ’95-95-95′ targets for ending AIDS by 2030. Dar es Salaam. Tanzania is among five African countries that have committed to ending AIDS by 2030, the country’s health minister, Ms Ummy Mwalimu, has said. She said that 96 percent of Tanzanians living with HIV infection are aware of their…
THE European Union (EU) envoy in Guyana has been facilitating talks for possible pharmaceutical production in Guyana. This is according to European Union Ambassador to Guyana Rene Van Nes, during an interview with reporters on Thursday. He said that this initiative is about seeing if Guyana, together with Barbados and Rwanda could play a role in pharmaceutical production. Van…
TANZANIA has the potential of transforming its economy and become a leading nation in Africa if will properly implement agroforestry programme. Minister of State, Vice-President’ Office (Union and Environment), Dr Selemani Jafo said that agroforestry is a key tool for both climate change mitigation and adaptation, as trees help store large amount of carbon. He made the remarks during the launch…
Summary The new program to strengthen Zanzibar’s horticulture market is expected to substantially increase economic opportunities in horticulture sector Zanzibar. The US government in partnership with Zanzibar have unveiled a new programme to strengthening Zanzibar’s horticulture market systems and promoting. Dubbed Feed the Future Tanzania Kilimo Tija Activity, the project is expected to increase economic opportunities in horticulture, with…
All around the world, a backlash is brewing against the hegemony of the US dollar. Brazil and China recently struck a deal to settle trade in their local currencies, seeking to bypass the greenback in the process. India and Malaysia in April signed an accord to ramp up usage of the rupee in cross-border business. Even perennial US ally France is starting…
Prices at the pump almost tripled at service stations in Nigeria after the new President announced on Monday that he would end fuel subsidies, journalists observed on Wednesday in several towns across the country.Bola Ahmed Tinubu, who had just been sworn in as president, had declared on Monday that he would end fuel subsidies, one of his campaign promises,…
Summary The President of AfDB, Dr Akinwumi Adesina said the banks will access the critical financial resources to income generation projects run by the youth. The African Development Bank (AfDB) is seeking to establish youth entrepreneurship investment banks across the continent. The proposed financial institutions will finance young people’s innovations in creating wealth. This was announced on the sidelines…
Dar es Salaam. Muhimbili University of Health and Allied Sciences (Muhas) plan to transform into a Medical Academic City by 2050, has received an additional $45.5 million boost from the Higher Education for Economic Transformation (HEET) project. The project, with a total of $425 million (about Sh972 billion) is the government’s effort together with the World Bank to improve…
Aliko Dangote’s highly anticipated $19 billion refinery will finally begin operation today, Monday, May 22, 2023. The Dangote Refinery, located in the Lekki Free Trade Zone of Lagos, is set to be Africa’s largest oil refinery, with a capacity to process 650,000 barrels of crude oil daily. Punch reports that the refinery has been designed to process crude oil…
Mbezi, Dar es Salaam – Nestled in the heart of Tanzania is the Mount Rungwe Pre and Primary School, led by the visionary Okoka Mwapuja. While the establishment stands as a hallmark of education, Mwapuja’s aspirations transcend the conventional. Anchored in a fervent commitment to the environment, he ardently champions the shift towards renewable energy as a sustainable tomorrow’s…
International Energy Companies (IEC) that are involved in negotiations with the government of Tanzania on the LNG project have said that there has been a breakthrough in talks between the two sides. In his social media post, Jared Kuehl, Shell’s Vice President for Tanzania and Country Chair, said the energy companies (IEC) have concluded the negotiations with the government…
Dar es Salaam. President Samia Suluhu Hassan revealed that Tanzania is planning to build its own satellite and that negotiations to reach the scientific milestone have already begun. Summary Should the plan materialize, Tanzania will join Kenya and Uganda, which have developed and launched satellites into space in the past six months. The President, who was speaking at Azam…
Daniel Danino is the CEO and founder of Volta Metals, an international group focused on energy, industry and trading in EMEA. Morocco is a country that has been investing heavily in the aerospace sector in recent years, and the aviation industry is an important part of that effort. As a part of this effort, the Moroccan government has been…
As of December 2022, the total number of monthly active users of mobile apps in Africa exceeded 270 million, a 14% increase compared to the beginning of the year. This is according to a new report released by DataSparkle, a data and analytics platform for emerging markets. The report provides a holistic analysis of the evolution of Africa’s mobile market over…
LogRhythm has partnered with eFinance to rapidly detect and mitigate threats in Egypt’s digital payment security ecosystem with LogRhythm SIEM, LogRhythm’s security information and event management (SIEM) solution. LogRhythm will secure eFinance’s operations across the entire Egyptian payment network and establish its reputation as a trusted fintech provider throughout the region. By adding LogRhythm SIEM into its security systems, eFinance benefits…
Summary The Police Force has launched a crackdown on unqualified drivers as part of efforts to end road accidents Dar es Salaam. The Traffic Division of the Tanzania Police Force has revoked 3,000 driving licences after realising that their holders did not follow the right procedures in acquiring them. The police also downgraded licences for some drivers for similar…
Summary Retail prices of petrol and diesel imported through the Dar es Salaam port have increased by Sh90 and Sh24 per litre respectively. Dar es Salaam. Retail prices of petrol and diesel imported through the Dar es Salaam port have increased by Sh90 and Sh24 per litre respectively. According to the new fuel cap price released by the Energy…
Summary The reinstatement comes seven years after the removal of the system of annual salary increase by the late John Magufuli in 2016. Dar es Salaam. President Samia Suluhu Hassan has announced the reinstatement of the annual salary increase for public service employees. Her announcement comes seven years after the removal of the system of annual salary increase by…
From 3 to 4 May, the Mohammed VI Polytechnic University of Rabat is organising, in collaboration with the University of Aix-Marseille and the CNRS, the 13th edition of the Arbois and Mediterranean Round Tables in Aix-en-Provence, on the theme of “Hydrogen tomorrow: myths and realities”. This edition will bring together elected officials, industrial leaders, research and innovation players, students…
Summary The World Health Organisation has declared the country the best performer in the Covid-19 Vaccine Delivery Partnership among 34 African nations whose vaccination rates were below 10 percent by January 2022 Dar es Salaam. Until early 2021, Tanzania was a Covid-19 denier, but two years later, the World Health Organisation (WHO) now ranks the country as the best…
Dar es Salaam has been ranked as the 85th wealthiest city in the world and 12th in Africa, boosted by growth in the number of high net worth individuals (HNWI) by 20 percent in the last decade. The World’s Wealthiest Cities 2023 report by consultancy New World Wealth and Henley Partners placed Tanzania’s commercial capital city among the top…
TANZANIAN fintech startups have an opportunity to participate in the global open innovation competition, called Visa Everywhere Initiative (VEI) that drives innovative solutions to solve tomorrow’s payment and commerce challenges. Fintech refers to the integration of technology into offerings by financial services companies to improve their use and delivery to consumers. “The Visa Everywhere Initiative is a platform that…
Maria Nkhoma, who lives in the southern Malawi district of Balaka, recalls a time she would miss classes because there wasn’t enough food at home. With no food, the 17-year-old who is now in secondary school would remain at home to take care of domestic chores as her parents went around in search of menial jobs to feed their…
The United Nations suggested on Wednesday that instead of focusing solely on the growing global population, it is imperative to consider women’s reproductive rights to bolster “demographic resilience.” The UN’s sexual and reproductive health agency, UNFPA, has recognized that there is a significant level of concern regarding the global population, expected to reach a maximum of approximately 10.4 billion…
African Guarantee Fund and the Clean Cooking Alliance (CCA) have launched a partnership to promote financial innovation, access to responsible carbon finance, and investments in clean cooking companies and programs. In line with our mission, AGF will work through selected financial institutions to carry out the goals of the partnership. Both organizations will focus on markets in East, Southern,…
The government of Tanzania, the African Development Bank, and the French Development Agency (AFD) have signed agreements for two development project loans worth $300 million. The funds will finance the construction of the 87.8-megawatt Kakono Hydropower Plant located in Kagera region in the northern part of Tanzania. The project also received a grant of EURO 36 million from the…
London, Apr. 13 (BNA): A keenly-watched malaria vaccine from Oxford University has secured its first approval, in Ghana, as the African country ramps up efforts to combat the mosquito-borne disease that kills a child every minute. The effort is one of several focused on addressing the disease that kills over 600,000 each year, most of them children in Africa….
The Spanish initiative is in line with the aims of the $8.5-billion Just Energy Transition Partnership between South Africa and funding partners including France, Germany, the US, UK and the European Union. Spain is providing 2.1 billion euros ($2.3 billion) to help fund South Africa’s energy transition and water needs, even as some of the world’s richest nations struggle…
by Michelle Lochner, University of the Western Cape New telescopes with unprecedented sensitivity and resolution are being unveiled around the world – and beyond. Among them are the Giant Magellan Telescope under construction in Chile, and the James Webb Space Telescope, which is parked a million and a half kilometres out in space. This means there is a wealth…
Summary A total of 212 people who were suspected to have contacts with the patients were so far traced and 35 of them have already been released Dar es Salaam. One patient among those diagnosed with Marburg virus in Kagera region was discharged yesterday, making him the first recovered case from the killer disease that was reported last month….
Summary President Samia Suluhu Hassan’s pro-business approach has restored domestic and foreign investors’ trust and confidence Dar es Salaam. The ongoing efforts to improve Tanzania’s business climate have had a positive outcome on the attraction of investments, with latest data showing a 173 percent rise in the amount invested in the country during the past two years. Data from…
Forests are often called the lungs of the planet, because they absorb harmful carbon dioxide and produce life-giving oxygen so it’s no exaggeration to equate healthy forests with healthy people, the theme of this year’s International Day of Forests. Covering 31 per cent of Earth’s land and providing a home to 80 per cent of all land-based species, forests…
Summary Called ‘The Barrick-Twiga Future Forward Education Program”, the objective is to build 1,090 classrooms, 1,640 ablution blocks and 270 dormitories across 161 schools nationwide Barrick Gold is pledging $30 million (about Sh70 billion) in support of the government’s plan to expand the education infrastructure in Tanzania. The affirmation was reached during yesterday’s meeting between Barrick president and chief…
Dar es Salaam. Tanzania has become a hub for food exports, feeding countries in the African region as well as rest of the world, latest statistics from the Bank of Tanzania (BoT) and the Ministry of Agriculture show. The central bank data shows that in the period of five years from 2018 to 2022 the country sold vegetables worth…
Volvo Trucks delivers its first heavy electric truck to Morocco. The customer is the refuse collection company Arma, and this is the first heavy battery-electric truck from a global manufacturer to be in commercial operation in Africa. Deployment of heavy electric trucks is now spreading across the world. With Europe and the US among the leaders, the shift to…
THE first Liquefied Petroleum Gas (LPG) exhibition prepared by LPG EXPO Company from Singapore, Tanzania LPG Association (TZLPGA) with collaboration with the government of Tanzania, will take place next week in Dar es Salaam. Speaking to the media on Thursday in Dar es Salaam, the Director of LPG EXPO, Catherine Ho, said that the exhibition will take place from…
By Edson Baraukwa | Africa Guardian Dar es Salaam, Tanzania – As a human being, you have an inherent responsibility to accept and embrace your nature in all its forms and possible manners of acting. Don’t construct imaginary walls around yourself that become increasingly hard to break as time passes, or worse, invite others to join you in the…
Egypt has joined Africa Finance Corporation, the continent’s infrastructure solutions provider, as the first North African sovereign shareholder, further diversifying AFC’s expanding equity investor base. Egypt’s Minister of Finance, H.E. Dr Mohamed Maait. PH0T0 | Supplied An AFC Member State, Egypt’s equity commitment and its imminent representation on the AFC Board of Directors enhances the Corporation’s pan-African spread of…
Nakuru, Kenya As the world prepares to celebrate the International Day of Women and Girls in Science, Coca-Cola Beverages Africa (CCBA) has amplified its commitment to empowering women and girls in STEM. Recognizing the importance of closing the gender gap in STEM, CCBA is taking action to promote the advancement of women in science. The company General Manager of…
Two-and-a-half billion dollars: that’s how much funding the UN World Health Organization (WHO) will need across its operations this year, it said on Monday, to help a record number of people facing disease and starvation. In its appeal, the WHO said that a staggering 339 million people now need humanitarian assistance globally. Tedros Adhanom Ghebreyesus, the UN agency’s Director-General,…
We are excited to announce that SWAHILIES has raised $50,000 in pre-seed funding from The Baobab Network, an accelerator that backs early-stage technology startups in Africa, providing entrepreneurs with funding, support and a global platform to scale their businesses. The Baobab Network has been very supportive of us during the acceleration program and even beyond. We are super excited to be with them on this journey….
South Africa’s debt-ridden state power utility is recruiting its 14th chief executive officer in a decade, but finding someone who can do the job and actually wants it will be a tall ask. Eskom Holdings SOC Ltd. supplies more than 90% of the nation’s electricity, has more than 42,000 employees and doesn’t earn enough to cover its operating costs…
President Joe Biden delivers remarks at the US – Africa Leaders Summit in Washington, DC. Photo: KEVIN DIETSCH US President Joe Biden has announced an agreement aimed at bolstering trade ties between the United States and Africa after years in which the continent took a back seat to other US priorities as China made inroads with investments and trade….
Eskom Group’s chief executive Andre de Ruyter has resigned, reports News24, as the country suffers worsening loadshedding (planned power cuts). De Ruyter is vacating his position close to when he assumed his post – December 25, 2019. This is only the second time ever that the country has reached Stage 6 level of power cuts, since the energy crisis…
The Rai family has extended its dominance in the sugar sector with the opening of the Naitiri factory, which has now pushed its share of sales to nearly half of the entire production. Data from the Sugar Directorate indicates that the four milling firms owned by billionaire Rai accounted for 45 percent of the total sugar sales in the…
More than $ 2 billion have been deployed by African Development Bank Group (AfDB) and other donors this year to support green electricity startups in Nigeria and the rest of Africa. In February, AfDB approved the Leveraging Energy Access Finance Framework (LEAF), under which the Bank will commit up to $164 million to promote decentralised renewable energy in six…
THE global market for natural gas is ripe, making the next month’s signing agreement between the government and major oil investors timely and worth it. Recently, the government said it envisaged signing the key 40 billion US dollars agreement for Liquefied Natural Gas (LNG) project with Equinor ASA and Shell Plc to pave way for exports after completing the…
SIR: The harder things get in Nigeria, the more desperate people become to make it especially as the signs are that the immediate future is not looking up. Nigeria‘s grim economic situation which continues to feed families into the shredder of poverty and economic ruination everyday has led to the proliferation of many so-called financial experts, advisors and whatever else…
Marking the occasion of World Diabetes Day, The Evercare Foundation, the philanthropic arm of the Evercare Group, has announced a week-long program of free diabetes testing and health education across Evercare facilities in Africa and South Asia. The Evercare Foundation aims to provide equitable health for all and the development of more resilient health systems across low and middle-income…
COP27 also referred to as “African COP” gives African countries opportunity to address dire consequences of climate change in Africa. COP27 Egypt will go down in history as the conference that saw Tanzania’s renewable energy ambition cast before the world. President Samia Suluhu Hassan presented the energy transition plan encompassing other southern African countries as it maximizes electricity generation…
Heathrow Airport, a major international airport in London on Monday, November 7, welcomed RwandAir maiden direct flight, in a move intended to cater for the airline’s growing demand. A highly placed source confirmed to The New Times that the national carrier landed in the morning hours of Monday. Passengers left Kigali around midnight. The inaugural flight puts an end…
In SA, the money will be used to close coal-fired electricity stations and replace them with renewable energy plants and battery storage systems South Africa and Indonesia will receive a combined $1 billion from the Climate Investment Funds to replace some of their coal-fired power plants with renewable energy facilities, part of global efforts to cut planet-warming emissions. The…
– Members of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) who recently paid a visit to Aliko Dangote’s multi-billion-dollar refinery disclosed that the refinery is 97 per cent near completion. The NMDPRA disclosed the news in Abuja when representatives of the Dangote Petroleum Refinery presented the work plan for the facility for 2022/2023, Daily…
Leading private education provider in Tunisia and Morocco Holged is planning to expand to Kenya and other African countries after securing funding from Africa50, a Pan-African infrastructure investment platform. The firm offers a K-12 education system, an American tutoring system that includes kindergarten and 12-years of basic education such as six-years primary education, four-years junior high school, and two-years…
Sino-African relations have been cemented at all levels, from the political and economic to the commercial, cultural and other spheres. If you walk down a street in any African country and ask people their opinion about China, they will more likely than not say that China is a country that helps African nations achieve economic growth, create jobs and…
It also focuses on helping non-profits improve lives across Africa. In Summary • The centre is looking for talented, creative people who can help solve difficult and important technical challenges.• This involves improving the smartphone experience for people in Africa and building a more reliable internet infrastructure. As part of its billion-dollar commitment, Google launched its first product development…
What you need to know: The agreement dubbed ‘Agreement on Avoidance of Double Taxation and Prevention of Fiscal Evasion on Income Taxes’ was signed by Finance ministers of the two countries–Dr Mwigulu Nchemba for Tanzania and Mr Mohamed Bin Hadi Al Hussain of the UAE. Dar es Salaam. Tanzania and the United Arab Emirates (UAE) have signed an agreement…
TANZANIA Bureau of Standards (TBS) has signed an agreement with TradeMark East Africa (TMEA) worth 9bn/- to help traders do business basing on standards for easy access to the market. Speaking after inking the deal, TMEA Country Resident, Ms Monica Hangi said the agreement targets to ease business and solve challenges caused by business impediments and non-tariff barriers. She…
THE United States Agency for International Development (USAID) and the Vodafone Foundation have committed 15 million US dollars (about 34.9bn/-), to expand maternal health emergency transportation systems in Tanzania. The funds are a direct response to President Samia Suluhu Hassan’s request for collaboration in expanding the programme, to ensure hospital transit for women across the country. The commitment was…
EFFORTS by President Samia Suluhu Hassan to promote Tanzania continue to pay off and witnessed some 19 USA companies readiness to explore investment opportunities in the country. According to a statement issued on Tuesday the U.S Embassy in Dar es Salaam and the U.S Commercial Service, representative of the 19 companies will be among participants in a two-day fact-finding…
Dr Akinwumi Adesina, President of the African Development Bank (AfDB) Group says the bank will provide 12.5 billion dollars to support the Africa Adaptation Acceleration Programme (AAA-P). The AfDB president disclosed this via his verified twitter handle @akin_adesina on Wednesday. The AAA-P is Africa’s own programme, supported by African Heads of State, to mobilise more resources for climate change,…
Wemade, an online video games developer, announced it has participated in the seed funding round for Metaverse Magna (MVM), a P2E guild project from Africa, for expansion of WEMIX ecosystem in Africa. MVM’s parent company, Nestcoin, supports and invests in crypto projects in Africa. It was founded by Yele Bademosi, former director in charge of the Africa region at Binance Labs, who oversaw investments and…
Most people agree that it’s vital to grow old healthily. In Africa, healthy life expectancy has increased by ten years — more than anywhere else. DW explores the reasons for this and examines how the trend can continue. The “Margaret Kenyatta” mother-and-child hospital wing in Nakuru, Kenya is the country’s second-largest maternity ward. It boasts around 250 beds, where…
Aspen Pharmacare mulls switch to other manufacturing efforts Africa’s first COVID-19 vaccine manufacture, Aspen Pharmacare of South Africa, has been hit by a serious slump in orders that threatens its future. Aspen Pharmacare is producing, pricing and selling its own branded version of the Johnson & Johnson’s COVID-19 vaccine, dubbed Aspenovax. The partnership agreement between Aspen Pharmacare and J&J…
With malaria one of the biggest killers of children under 5, the world’s first vaccine against a parasite is a major breakthrough for child health. The United Nations Children’s Fund (UNICEF) has awarded a contract for the first ever supply of a malaria vaccine to pharmaceutical company – GSK – with a value of up to U.S.$170 million. The…
TAMFI: Nine microfinance institutions commit to affordable lending for water and sanitation Dar es Salaam, 25, July 2022 Tanzania Association of Microfinance Institutions (TAMFI) and Water.org have signed a Memorandum of Understanding with nine financial institutions which have committed to start offering credit services for water supply and sanitation services in an initiative known as Water Credit Adoption Program…
Construction for the El-Dabaa Nuclear Power Plant has begun in Egypt. This is the first nuclear power plant in the country and will consist of 4 units with a generating capacity equivalent to 1200 MW per unit using generation III+ VVER-1200 reactors (pressurized water reactors). Alexey Likhachev, Rosatom Director General, and Mohamed Shaker, Egyptian Minister of Electricity and Renewable Energy gave…
KFC South Africa has launched a new “ultra-modern” outlet in Cape Town featuring the latest in restaurant technology. The fast food giant said its revamped Pinelands restaurant was designed to make customer service quicker, easier and seamless. KFC Africa chief operations officer, Thuthuka Nxumalo, said that businesses were moving into a “new era of customer experience”. “The approach to…
The European Parliament on Thursday backed a report advocating the use of trade policy to equalize relations between African countries and the European Union. “For too long, Africa has been reduced to a supplier of raw materials, with the result that the continent’s immense economic potential remains untapped,” Kathleen Van Brempt, a Belgian Social Democrat member of the European…
By Adegboyega Oyedijo There is no doubt that globalisation has benefited Africa greatly. This includes job creation, innovation, increased productivity and foreign direct investment. But global value chains are shifting in the wake of the COVID pandemic and Russia’s ongoing invasion of Ukraine. These changes are informed by the decisions of various companies to shift or move their manufacturing…
KIGALI, June 23 (Reuters) – Africa must wean itself off dependence on food and medicine imports, the president of the African Development Bank (AfDB) said, as the institution approved creation of a pharmaceutical tech foundation and began processing requests for food relief. Africa was hit hard by the economic fallout from the coronavirus pandemic. Now, as many countries are still struggling…
Summary The President of African Development Bank (AfDB), Akinwumi Adesina, said on Wednesday the multilateral lender would soon establish investment banks for young entrepreneurs on the continent, IgbereTV reports Adesina, who stated this at the Commonwealth Business Forum in Kigali, Rwanda, criticized the structure of the existing commercial banks on the continent. He said the current financial institution model…
Summary The crypto market, known for its wild price swings, has shed more than half of its value since November last year as investors pulled out money from riskier assets amid worries over soaring inflation and rising interest rates. The ongoing meltdown in the cryptocurrency industry could push an estimated four million Kenyans who hold the digital assets deeper into…
The Board of Directors of the African Development Bank approved the creation of a virtual academy to build public financial management capacity in African countries. Countries will receive technical assistance through structured, targeted, dedicated and local training as well as through policy dialogue. The academy, hosted within the African Development Institute of the African Development Bank Group, will deepen…
In the early 1700s, Great Britain reached a new milestone. After its people had invested plenty of research and resources into food production, their agricultural revolution resulted in a food surplus. As a result, the Brits needed to find innovative ways to process their swelling harvest. At the same time, Britain had massive supplies of cheap coal. And since there was…
There has been no change in control of Tenke Fungurume Mining, majority owner China Molybdenum has said, contradicting authorities in the Democratic Republic of the Congo who said a temporary administrator had taken control of one of the world’s largest cobalt and copper mines. The secretary-general of Congo’s state mining company Gecamines told Reuters on Thursday that a court-appointed…
Summary Egypt has successfully launched a new satellite dubbed Nilesat 301 on the SpaceX rocket Falcon 9 from Florida. The launching and the separation of Egypt’s new satellite Nilesat 301 from the Space X Falcon 9 rocket was broadcasted live. The new satellite was successfully launched into space at 11:03 pm Cairo Local Time, and the first signal was…
Summary Investment in Tanzania brings a much wider scale of benefits to the economy especially after the government reshuffled the investment sector Tanzania is one of the most attractive investment destinations LNG is one of Tanzania’s hot investment pockets Tanzania-Uganda are now oil economy partners Tanzania is one of the most attractive places for investors in Africa including East…
Summary According to the Energy and Water Utilities Regulatory Authority (EWURA), effective Wednesday, the retail price for petrol is Tsh2,994 ($1.28) from 3,303 ($1.42) per litre, diesel Tsh3,126 ($1.34) down from Tsh3,452 ($1.48) per litre, while kerosene prices remain unchanged. Tanzania has reduced the cost of fuel effective Wednesday following the Tsh100 billion ($43 million) fuel subsidy the government…
Summary The project involves upgrading of the current 84km two-way single bitumen road to a two-lane dual carriage way, and is expected to ease access to the northern corridor by reducing time by about 26 percent and cost by 35 percent. Dr Adesina will inspect the Kenol-Sagana-Marua highway project, which is co-financed by AfDB to the tune of $191…
Summary The lobby reckons that the volatility in the exchange rate market has slowed dollar trading among lenders or interbank deals, further worsening the scarcity of the US currency. The shortage of dollars is triggering the emergence of parallel exchange rate that has seen lenders buying and selling well above the printed official rate, the manufacturers’ lobby has warned….
Summary Tanzania’s economy shrunk from 6.8 percent growth to 4 percent after Covid-19, even though the country, unlike its neighbours, did not go on a lockdown and did not initially order compulsory mask wearing, nor tap into vaccines. President Samia Suluhu Hassan has defended her usage of loans from multilateral lenders, telling an audience in Accra that the institutions…
The decision came as the continent, a net importer of food, faces rising prices of products after the main suppliers—Ukraine and Russia—went to war earlier this year, disrupting production and supply to the global market. According to the Bank, Africa’s demand for food means that the continent faces a shortage of up to 30 million metric tonnes this year,…
The African Development Bank (AfDB) has approved a $1.5 billion emergency programme to alleviate the impact of worsening food insecurity due to the Ukraine war, its director said on Monday. About 20 million farmers on the continent will benefit from the fund as Africa faces a shortage of at least 30 million metric tonnes of food, especially wheat, maize,…