The Nigerian government on Tuesday expressed its readiness to host the Africa Energy Bank (AEB). The bid exercise took place at a dinner for the heads of mission of the envoys of members of the Africa Petroleum Producers Organisation (APPO) in Abuja on Tuesday. Hosting the bank in Nigeria, according to the government, will ensure proximity to key energy technocrats and experts, which is essential for formulating and implementing effective solutions to Africa’s energy challenges. The government said the headquarters of the African Energy Bank in Abuja, Nigeria, aligns perfectly with the country’s strategic position as a leading energy producer…
Author: Johnson Akinyi
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Nairobi, Kenya — Kenyans are coming to grips with the stark reality of rising taxes under President William Ruto’s administration, as he advocates for higher contributions to boost public services and reduce the national debt. President Ruto argues that Kenyans are currently under-taxed, despite widespread public frustration and protests over the escalating cost of living.President Ruto contends that Kenyans have been “socialised to believe they pay the highest taxes,” but maintains that the overall tax burden in Kenya is lower compared to other African countries. “We must be able to enhance our taxes,” he stated, though he acknowledged the difficulty…
NAIROBI, Kenya — Kenyan police have arrested a 19-year-old motorist who was caught on video brutally assaulting a traffic policeman on a road in the capital, Nairobi. The video, which has been widely shared, shows the young man attacking the officer with punches and kicks to the head even after the policeman falls to the ground.The motorist fled the scene after bystanders intervened to help the officer. The shocking incident has led to a rare outpouring of sympathy for the police, who often face accusations of brutality and bribery.A police report detailed that the incident began when the motorist was…
JOHANNESBURG, South Africa — The African National Congress (ANC), South Africa’s ruling party for the past 30 years, is on course to lose its parliamentary majority for the first time, according to partial results from Thursday’s parliamentary election.With more than 50% of voting districts counted, the ANC leads with 42% of the vote, followed by the Democratic Alliance (DA) with 23%. Former President Jacob Zuma’s uMkhonto weSizwe Party (MK Party) has received nearly 11%, while the Economic Freedom Fighters (EFF) are at 10%. Final results are expected over the weekend.Voters have expressed dissatisfaction with the ANC, blaming the party for…
The International Chamber of Commerce (ICC) has recently published an in-depth Report on the differences in attitude and approach around the world to commercial contracts and disputes, providing valuable insights and guidance for African businesses trading overseas. The Truth about Cross-Cultural B2B Relationships is a joint venture between the ICC’s International Court of Arbitration, Jus Connect (part of the global law and disputes intelligence leader Jus Mundi) and consulting firm McCann. It is a summation of: 1,700 quantitative interviews with business-to-business decision-makers across nine countries, plus 20 one-hour, in-depth interviews with business leaders and dispute resolution specialists, supplemented by 20,000 desk research…
Appointed to head the National Assembly by the President of the Republic, Ismaïl Omar Guelleh, Dileita Mohamed Dileita brings his experience as a former Prime Minister to the country’s debating chamber, but also as a senior diplomat. He has held positions in Paris, was an ambassador in Addis Ababa – at the headquarters of the African Union – and has been chargé de mission for various international institutions. Although he has criss-crossed the continent, he has never strayed too far from Djibouti, his home country, where he is serving his fifth term as a member of parliament.The Covid crisis and…
By Ashay Abbhi, Manager, Climate Change, Intellecap George, a delivery executive, lives in a modest home on the outskirts of Nairobi. He unplugs the wire that charges his shiny new electric bike, presses a tiny switch bringing the quiet engine to life, and rides off to deliver happiness in the form of food. George is part of a large cohort of gig economy workers who swear by this innovation. They feel that while it has a relatively high upfront cost, various leasing and pay-as-you-go models make ownership easier. Moreover, the e-bike saves time otherwise wasted in queues at petrol stations…
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In the inky blackness of night over Odesa you can hear them flying. That unmistakable buzz of a motorcycle engine powering a set of wings and a payload of explosives that make up a $50,000 deadly drone. Odesa, the grain exporting hub on the Black Sea, is one of cash-strapped Ukraine’s last hopes for hard currency, without which its war effort could founder.The city is also the front line in this war of attrition since the full-scale Russian invasion more than two years ago. With Russia’s Black Sea fleet forced back over the horizon, the drones are a cheap way…
Afreximbank has called on Jeddah-based Islamic Development Bank (IsDB) to shift more investment focus to Africa’s mining sector as part of efforts to create value. IsDB has a long, robust relationship with Africa, with Libya and Egypt among the league of countries that agreed in 1974 to start the organisation. Today, Libya and Nigeria rank among its top five member nations in terms of shareholding size. The scale of the transactions IsDB has done with Africa through International Islamic Trade Finance, which provides trade support to participating countries on behalf of the bank, has surpassed one billion dollars, Benedict Oramah,…