African Development Bank commits more than $110 million to boost Kenya’s access to electricity
The project entails strengthening the electricity network by constructing 13 substations of 33/11 kV, including the associated grid extensions and distribution network in 45 of the 47 administrative counties to connect a total of 139,480 households to the grid, meaning that some 543,972 Kenyans will gain access to electricity.
‘US drug agencies of hide, manipulate and lie about data that show Covid-19 shots are dangerous medical products’
Special interest groups paid by Pfizer to push for mandates and other coercive vaccine policies included the Chicago Urban League (which argued the jab mandate would benefit the Black community), the National Consumers League, the Immunisation Partnership, the Advertising Council and a long list of universities and cancer, cardiology, rheumatology and medical science organisations.
UNESCO: Africa is next frontier in fashion industry but it’s growth is limited by low investment
“Africans want to wear Africa. It’s really beautiful to see because it hasn’t always been like this,” said Omoyemi Akerele, who founded the Lagos Fashion Week in 2011 to encourage the patronage of Nigerian and African fashion. “But fast forward, a decade after, that’s all people want to wear.”
Germany pledges four billion euros for Africa’s green energy development
Discussions centred around the global economy, current challenges, including high inflation and geopolitical tension; and the need to incentivise investments in global public goods, such as tackling climate change; strengthening trade in a multipolar world; simultaneously combating labour shortages and unemployment; and strengthening multilateralism.
Dire straits: Uncertainty in money markets forces Kenya to focus funding strategy on concessional loans
On Monday the World Bank said it foresaw $12 billion of financial support to Kenya over the next three years. The IMF last week reached a staff-level agreement with Kenya, unlocking access to a $682 million funding tranche and boosting its lending programme by $938 million.
NASA finalising ‘Son of Concorde’ aircraft that can fly from New York to Nairobi in 90 minutes
Engineers are aiming to reduce the sound of the typical sonic boom to a sonic thump to minimise disruption to people on the ground. NASA said in August they have identified potential passenger markets in about 50 established routes that connect cities.
Australia’s Fortescue sets aside $750 million for investment green projects in Kenya, Brazil and Norway
About $550 million will be used for developing an electrolyser and liquefaction facility in Phoenix, where first production of liquid green hydrogen is targeted for 2026.
Debt restructuring: Zambia dealt major setback as official creditors object to bond deal
Zambia’s debt restructuring is taking place under the Common Framework, a process set up in response to Covid-19 by the G20 to bring in China, India and other bilateral creditors that are not members of the Paris Club of creditor nations.
Kenya could lose up to 7.25 per cent of GDP to climate change by 2050 – World Bank report
With about 90 per cent of its electricity coming from renewable sources like hydro-generation and geothermal wells, Kenya is well positioned to provide solutions to other countries looking to lower their emissions, the report said.
IMF to lend Kenya additional $938m,which central bank hopes will pad weak local currency
Subject to the approval of the Washington-based fund’s executive board, Kenya will have access to a total of $3.88 billion, which would bring its total funding under the existing Extended Fund Facility and Extended Credit Facility arrangements to $4.43 billion, the IMF said.
