MALAWI, AFRICA – In a groundbreaking development, the Geothermal Development Company (GDC) has sealed a transformative partnership with the Electricity Generation Company of Malawi (Egenco) to harness Malawi’s vast geothermal potential. This collaboration marks a pivotal moment for Malawi as it ventures into the untapped world of geothermal energy. GDC, a trailblazer in the geothermal […]
China’s renminbi touched a 16-year low against the US dollar as the nation’s exports faced a fourth consecutive monthly decline in August, underscoring the ongoing challenges confronting the country’s manufacturing sector, the world’s second-largest. Renminbi Weakens on Export Contractions In a noteworthy development, the renminbi slipped by 0.1 percent to reach Rmb7.3259 per US dollar, […]
A proposed legislative amendment in Kenya could usher in a new era of opportunities for local businesses. Kiambaa MP John Njuguna Wanjiku has introduced the Public Procurement and Asset Disposal (Amendment) Bill, 2023, which aims to redefine the rules governing public procurement, favoring Kenyan-owned companies for contracts valued below Sh1 billion. The primary focus of […]
The Africa Climate Summit, a landmark gathering of leaders from across the continent, concluded with a resounding declaration of intent to combat climate change and drive sustainable growth. At least 17 heads of state were individually present, with others sending representatives, as they collectively adopted the historic Nairobi Declaration. The summit, held at the Kenyatta […]
Economists are offering varying perspectives on the U.S. economy’s trajectory, with some anticipating a “soft landing” after two years of elevated inflation, while others are concerned about the potential for a more challenging downturn. Goldman Sachs’ Optimistic View Goldman Sachs, known for its economic insights, has recently revised its forecast, reducing the likelihood of a […]
As the urgency of climate change grows, African nations aim for a bigger share of the $2-billion carbon credit market, projected to expand fivefold by 2030. Currently, Africa contributes just 11% of global carbon offsets despite its vast carbon-absorbing ecosystems. Kenyan President William Ruto, hosting the Africa Climate Summit, sees Africa’s carbon sinks as an […]
In a bold move, Nigeria, the most populous country in Africa, is set to participate in the upcoming G20 summit in New Delhi, signaling its keen interest in the global stage. Furthermore, the West African nation is contemplating submitting an application to become a member of this exclusive group of influential nations. President Bola Ahmed […]
In a significant development, global oil prices have surged by 25% since late June due to strategic supply cuts, raising important questions about the future trajectory of the market. Brent International (BZ=F) recorded an impressive closing price of $90.04 per barrel, marking its highest level since November. Simultaneously, West Texas Intermediate (CL=F) futures settled at […]
Sugarcane stakeholders hailing from the Nyando sugar belt have vehemently rejected the national government’s proposal to merge Chemelil and Muhoroni sugar companies into a single entity as part of sweeping reforms within the sugar sector. In a decisive stand taken prior to their appearance before the National Assembly committees on finances, national planning, agriculture, and […]
In a sweeping proposal, President William Ruto has introduced a plan to require every Kenyan household to allocate 2.75 percent of its income towards a new social healthcare fund. This initiative aims to revamp the healthcare system and provide a stable source of funding for the government. However, it will impact the monthly incomes of […]
In a pivotal moment for Kenya's economic trajectory, President William Ruto has officially assented to three critical National Assembly Bills:...
In a significant pronouncement that reverberates through the burgeoning digital asset landscape, the Bank for International Settlements (BIS), often referred...
The Coca-Cola Company, a global beverage giant, has unveiled a groundbreaking study highlighting its monumental socio-economic impact across the African...
A transformative era has dawned for chilli farmers in Kenya's coastal region with the official commissioning of a state-of-the-art Sh250...
