Essential The Africa the Media Doesn't Tell You About
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Nigeria faces delay on planned World Bank loan
International lender wants Abuja to push through further reforms
Corruption warning on Nigeria currency policy OCTOBER 2, 2016
Nigeria is heading towards its first full-year economic contraction in a quarter of a century © Bloomberg
YESTERDAY
by: Maggie Fick in Lagos and Shawn Donnan in Washington
Plans by the Nigerian government to borrow billions of dollars from the World Bank and other international lenders to plug its budget deficit have run into delays amid a stalemate over reforms, jeopardising the country’s ability to finance its budget.
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Nigeria’s plight is emblematic of the growing problems facing commodity-exporting countries in the developing world in the wake of the collapse in oil and other commodity prices in recent years, a subject that will be heavily discussed at this week’s annual meetings of the International Monetary Fund and World Bank in Washington.
Mongolia on Friday became the latest example of those woes when it lodged a formal request for a bailout from the IMF, joining countries such as Angola and Suriname that have been driven to seek help this year.
Nigeria is heading towards its first full-year economic contraction in a quarter of a century, due in part to the slow and widely criticised response to the oil price collapse by the administration of President Muhammadu Buhari. Meanwhile, militant attacks in the oil-producing Delta have slashed foreign earnings further, stoking severe foreign exchange shortages.
The naira has lost 40 per cent of its value since June, when the central bank abandoned a currency peg at the behest of the IMF and other lenders concerned at the pace at which the government was burning through foreign exchange reserves.
But Abuja is now facing calls from the IMF and World Bank to push through further reforms. These discussions have held up any agreement on a loan from the bank, said people briefed on the talks.
They added that the World Bank had said it would not be able to disburse any loans until 2017 at the earliest because it “has not yet received the macroeconomic framework” needed for the discussions to progress, though the finance ministry disputes that.
African oil exporters wasted economic opportunity, study claims
Mo Ibrahim Foundation blames nations including Nigeria for failing to diversify or reinvest
Mr Buhari was elected last year on a promise to tackle corruption but has struggled to manage Africa’s largest economy and stave off the deep fiscal crisis. Underlying that has been his deep aversion to the IMF, with which he clashed in the 1980s when he ran the country as a military ruler before he was toppled in a coup amid a public outcry over conditions set by the fund in a bailout.
Mr Buhari said in a speech at the weekend that the government had spent 720.5bn naira ($2.3bn) on capital projects this year to get the economy moving again.
The World Bank said it was “continuing its discussions” with Nigeria “on a range of critical reforms for restoring macroeconomic resilience” and “would determine, with the government, the most appropriate instrument to support the reform programme”. It did not give a timeline for those discussions, which are expected to continue on the sidelines of the World Bank and IMF meetings in Washington.
“Although recent measures, including the adjustment of fuel prices and the move toward more flexibility in the foreign exchange market, are welcome, more are needed to ensure sustained economic benefits,” Gene Leon, the IMF’s mission chief for Nigeria, said in a statement to the Financial Times.
Nigeria needs to “reduce domestic and external imbalances” and provide “greater clarity” on its macroeconomic policy direction, he added.
Finance minister Kemi Adeosun told the FT in April that Nigeria planned to secure external financing for a shortfall now estimated at 1.8tn naira by the end of the third quarter. She said last week that discussions with the bank were ongoing.
There have been some signs of progress. Akinwumi Adesina, president of the African Development Bank, last week said he would go to the lender’s board in October to seek approval for a $1bn loan to help cover Nigeria’s deficit.
Meanwhile, senior politicians and businesspeople, including Aliko Dangote, Africa’s richest man, have said Nigeria has no choice but to sell state-owned assets to raise capital and avoid a prolonged fiscal crisis.
https://www.ft.com/content/4ed37f18-8885-11e6-8cb7-e7ada1d123b1#axzz4M8iStWj4
International lender wants Abuja to push through further reforms
Corruption warning on Nigeria currency policy OCTOBER 2, 2016
Nigeria is heading towards its first full-year economic contraction in a quarter of a century © Bloomberg
YESTERDAY
by: Maggie Fick in Lagos and Shawn Donnan in Washington
Plans by the Nigerian government to borrow billions of dollars from the World Bank and other international lenders to plug its budget deficit have run into delays amid a stalemate over reforms, jeopardising the country’s ability to finance its budget.
Sample the FT’s top stories for a week
You select the topic, we deliver the news.
Select topic
Enter email address
Invalid email
By signing up you confirm that you have read and agree to the terms and conditions, cookie policy and privacy policy.
Nigeria’s plight is emblematic of the growing problems facing commodity-exporting countries in the developing world in the wake of the collapse in oil and other commodity prices in recent years, a subject that will be heavily discussed at this week’s annual meetings of the International Monetary Fund and World Bank in Washington.
Mongolia on Friday became the latest example of those woes when it lodged a formal request for a bailout from the IMF, joining countries such as Angola and Suriname that have been driven to seek help this year.
Nigeria is heading towards its first full-year economic contraction in a quarter of a century, due in part to the slow and widely criticised response to the oil price collapse by the administration of President Muhammadu Buhari. Meanwhile, militant attacks in the oil-producing Delta have slashed foreign earnings further, stoking severe foreign exchange shortages.
The naira has lost 40 per cent of its value since June, when the central bank abandoned a currency peg at the behest of the IMF and other lenders concerned at the pace at which the government was burning through foreign exchange reserves.
But Abuja is now facing calls from the IMF and World Bank to push through further reforms. These discussions have held up any agreement on a loan from the bank, said people briefed on the talks.
They added that the World Bank had said it would not be able to disburse any loans until 2017 at the earliest because it “has not yet received the macroeconomic framework” needed for the discussions to progress, though the finance ministry disputes that.
African oil exporters wasted economic opportunity, study claims
Mo Ibrahim Foundation blames nations including Nigeria for failing to diversify or reinvest
Mr Buhari was elected last year on a promise to tackle corruption but has struggled to manage Africa’s largest economy and stave off the deep fiscal crisis. Underlying that has been his deep aversion to the IMF, with which he clashed in the 1980s when he ran the country as a military ruler before he was toppled in a coup amid a public outcry over conditions set by the fund in a bailout.
Mr Buhari said in a speech at the weekend that the government had spent 720.5bn naira ($2.3bn) on capital projects this year to get the economy moving again.
The World Bank said it was “continuing its discussions” with Nigeria “on a range of critical reforms for restoring macroeconomic resilience” and “would determine, with the government, the most appropriate instrument to support the reform programme”. It did not give a timeline for those discussions, which are expected to continue on the sidelines of the World Bank and IMF meetings in Washington.
“Although recent measures, including the adjustment of fuel prices and the move toward more flexibility in the foreign exchange market, are welcome, more are needed to ensure sustained economic benefits,” Gene Leon, the IMF’s mission chief for Nigeria, said in a statement to the Financial Times.
Nigeria needs to “reduce domestic and external imbalances” and provide “greater clarity” on its macroeconomic policy direction, he added.
Finance minister Kemi Adeosun told the FT in April that Nigeria planned to secure external financing for a shortfall now estimated at 1.8tn naira by the end of the third quarter. She said last week that discussions with the bank were ongoing.
There have been some signs of progress. Akinwumi Adesina, president of the African Development Bank, last week said he would go to the lender’s board in October to seek approval for a $1bn loan to help cover Nigeria’s deficit.
Meanwhile, senior politicians and businesspeople, including Aliko Dangote, Africa’s richest man, have said Nigeria has no choice but to sell state-owned assets to raise capital and avoid a prolonged fiscal crisis.
https://www.ft.com/content/4ed37f18-8885-11e6-8cb7-e7ada1d123b1#axzz4M8iStWj4
Ibrahim index reveals African governance continues to stall
By: Emma Rumney
4 Oct 16
Governance in Africa has barely improved in the last decade as worrying declines in safety and the rule of law hold back progress, according to the authoritative Ibrahim Index of African Governance.
In the last 10 years, the annual index has become renowned for providing the most comprehensive analysis of African governance available. But in that time, the measure has only been able to register an improvement of one point for the continent, from a score of 49 to 50 out of 100.
“It’s not a fantastic improvement, but it is an improvement,” said Mo Ibrahim, a Sudanese telecoms businessman and founder and chair of the Mo Ibrahim Foundation, which produces the index.
“So good news, but not fantastic news,” he added, warning about the stagnating progress across many countries especially in the past few years.
Some nations on the other hand, including Côte d’Ivoire, Togo, Liberia and Rwanda, have made substantial progress since the index began measuring in 2006.
And altogether, 37 out of 54 African countries have seen some overall improvement when marked against index’s four main categories – safety and rule of law, participation and human rights, sustainable economic opportunity, and human development.
But even some of the best performers have deteriorated since 2006. Ghana and South Africa for example, which both sit in the index’s top 10, have also seen the eighth and tenth biggest declines.
In terms of the four main categories, safety and the rule of law is the only one to show a downward trend over the past decade. Continent-wide, it has fallen by 2.8 points since 2006.
Because all countries that had deteriorated in overall governance had also deteriorated in this category, without exception, the index said deteriorating safety and rule of law is likely holding back governance progress in general.
Out of the 54 nations, 33, or almost two thirds, have seen a decline in safety and the rule of law, which means factors like weak accountability, armed conflict, violence and unrest, and corruption and bureaucracy have intensified for 70% of African citizens in the past 10 years.
Even most of the continent’s top scorers for overall governance saw progress drop in this area, such as Ghana, Cabo Verde, Botswana and Mauritius.
The fifteen countries that saw the biggest declines in this area however typically sit at the bottom of the index, and include Somalia, Burundi, the Central African Republic and Libya, where a civil war, tussles between two opposing governments and the rise of ISIS have decimated security and governance.
With dramatic declines in nations plagued and civil unrest – Libya’s score has fallen by 18 points – Ibrahim stressed the need to be sensitive to nuances in the data.
Rwanda, for example, featured in the top ten for the first time this year. In the past two decades, the nation has overcome a dark history to become the index’s ninth best performer, and the only one to feature in both the ten highest scoring and ten most improved countries over the past decade.
Others in the top ten include Mauritius, Botswana, Cabo Verde, Seychelles, Namibia, South Africa, Tunisia and Senegal, many of which have been regulars at the top of the index for much of its 10 year history.
Similarly, there is not much movement in the bottom ten either, with nations like Somalia, South Sudan, Central African Republic, Eritrea, Sudan and Chad regular low scorers.
“What you see here are 54 stories, not one story,” said Ibrahim, at the report’s launch yesterday.
“Each country has its own story. Please don’t be lazy and use a brush, and say Africa is rising, Africa is a basket case. We need more nuance in the way we describe Africa.”
Top 10
1. Mauritius
2. Botswanna
3. Cabo Verde
4. Seychelles
5. Namibia
6. South Africa
7. Tunisia
8. Ghana
9. Rwanda
10. Senegal
Bottom 10
44. Guinea Bissau
45. Angola
46. Democratic Republic of Congo
47. Equatorial Guinea
48. Chad
49. Sudan
50. Eritrea
51. Libya
52. Central African Republic
53. South Sudan
54. Somalia
Ibrahim index reveals African governance continues to stall
Yeah
By: Emma Rumney
4 Oct 16
Governance in Africa has barely improved in the last decade as worrying declines in safety and the rule of law hold back progress, according to the authoritative Ibrahim Index of African Governance.
In the last 10 years, the annual index has become renowned for providing the most comprehensive analysis of African governance available. But in that time, the measure has only been able to register an improvement of one point for the continent, from a score of 49 to 50 out of 100.
“It’s not a fantastic improvement, but it is an improvement,” said Mo Ibrahim, a Sudanese telecoms businessman and founder and chair of the Mo Ibrahim Foundation, which produces the index.
“So good news, but not fantastic news,” he added, warning about the stagnating progress across many countries especially in the past few years.
Some nations on the other hand, including Côte d’Ivoire, Togo, Liberia and Rwanda, have made substantial progress since the index began measuring in 2006.
And altogether, 37 out of 54 African countries have seen some overall improvement when marked against index’s four main categories – safety and rule of law, participation and human rights, sustainable economic opportunity, and human development.
But even some of the best performers have deteriorated since 2006. Ghana and South Africa for example, which both sit in the index’s top 10, have also seen the eighth and tenth biggest declines.
In terms of the four main categories, safety and the rule of law is the only one to show a downward trend over the past decade. Continent-wide, it has fallen by 2.8 points since 2006.
Because all countries that had deteriorated in overall governance had also deteriorated in this category, without exception, the index said deteriorating safety and rule of law is likely holding back governance progress in general.
Out of the 54 nations, 33, or almost two thirds, have seen a decline in safety and the rule of law, which means factors like weak accountability, armed conflict, violence and unrest, and corruption and bureaucracy have intensified for 70% of African citizens in the past 10 years.
Even most of the continent’s top scorers for overall governance saw progress drop in this area, such as Ghana, Cabo Verde, Botswana and Mauritius.
The fifteen countries that saw the biggest declines in this area however typically sit at the bottom of the index, and include Somalia, Burundi, the Central African Republic and Libya, where a civil war, tussles between two opposing governments and the rise of ISIS have decimated security and governance.
With dramatic declines in nations plagued and civil unrest – Libya’s score has fallen by 18 points – Ibrahim stressed the need to be sensitive to nuances in the data.
Rwanda, for example, featured in the top ten for the first time this year. In the past two decades, the nation has overcome a dark history to become the index’s ninth best performer, and the only one to feature in both the ten highest scoring and ten most improved countries over the past decade.
Others in the top ten include Mauritius, Botswana, Cabo Verde, Seychelles, Namibia, South Africa, Tunisia and Senegal, many of which have been regulars at the top of the index for much of its 10 year history.
Similarly, there is not much movement in the bottom ten either, with nations like Somalia, South Sudan, Central African Republic, Eritrea, Sudan and Chad regular low scorers.
“What you see here are 54 stories, not one story,” said Ibrahim, at the report’s launch yesterday.
“Each country has its own story. Please don’t be lazy and use a brush, and say Africa is rising, Africa is a basket case. We need more nuance in the way we describe Africa.”
Top 10
1. Mauritius
2. Botswanna
3. Cabo Verde
4. Seychelles
5. Namibia
6. South Africa
7. Tunisia
8. Ghana
9. Rwanda
10. Senegal
Bottom 10
44. Guinea Bissau
45. Angola
46. Democratic Republic of Congo
47. Equatorial Guinea
48. Chad
49. Sudan
50. Eritrea
51. Libya
52. Central African Republic
53. South Sudan
54. Somalia
Ibrahim index reveals African governance continues to stall
Yeah
The Odum of Ala Igbo
Hail Biafra!
Rwanda’s innovative broadband distribution model
By: DESIRE NGABONZIZA
PUBLISHED: October 06, 2016
DESIRE NGABONZIZA
Rwanda’s Vision 2020 has been a journey to transform its economy from an agrarian economy to a knowledge-based one. A key milestone on this journey is the deployment of broadband infrastructure accessible to all its citizens wherever they live and work.
This deployment can happen in one of two ways. The traditional way is to leave the matter to the telecom market to competitively build broadband infrastructure until the country is fully covered.
This takes a long time because each of the telecom operators will typically build their own broadband infrastructure. This leads to multiple infrastructures all competing for the market of broadband users.
This means that neither of the infrastructure players can profitably cover the whole country in the short time required by the country to proceed with its economic development agenda. The other less understood consideration is to do with the frequency spectrum available to support high speed broadband.
Multiple infrastructures would lead to low speed broadband because the available spectrum is split up among the telecom operators. In summary, the traditional approach would take too long to deliver universal broadband services and even then, the service would be characteristically slow broadband.
Rwanda understood these two important factors and chose not to proceed this way.
To accomplish its broadband vision, government, represented by the Rwanda Development Board (RDB), initiated a public-private partnership (PPP). In this PPP the Government would contribute (in exchange for equity) the national fibre optic backbone network it had previously deployed as well as its unbroken allocation of broadband spectrum.
The private industry partners would contribute the financial capital and the operating expertise required to deploy and exploit a nation-wide 4G/LTE wireless access network, operated as a shared network for all other telecom service providers to use in the delivery of higher value services required in all sectors of the economy.
One economically feasible universal 4G LTE network with sufficient spectrum allocation to ensure high speed over a long time of the country’s economic development, operated as shared network and regulated under wholesale-retail model.
This partnership was available to local and international telecom operators. KT Corporation (KT) made a decision to participate in the PPP and 4G LTE coverage is on track to cover 95% of Rwanda’s population by the end of 2017.
That is a tremendous achievement for country determined to improve the socio-economic conditions of its citizens in one generation since commencement of its economic development programme.
When 4G was launched in early 2014 on a trial basis, it was a dream come true for people who were exposed enough to understand the opportunities created by this technology. Even though the number of users were few due to various reasons it was nonetheless one of the biggest milestones in Rwanda’s economic development. It would be a historical milestone for many other developing countries.
Two years later the meaning of broadband internet and what could be done with it now better understood by many, especially the youth. Yes the usage hasn’t reached the needed level but it’s only a matter of time with Rwanda’s improving social-economic conditions.
Many Rwandans had little or no prospect of building a future by creating products and services possible only with high speed broadband giving them access the whole national market. Now they do.
What developing country would not aspire to that achievement? But as always the devil is in the “market implementation details”. It is important to look at what has happened since launch of 4G LTE in 2014.
For the first time since the introduction telecom services in Rwanda, it’s now possible for any talented entrepreneur to offer telecommunication services to end users with no much capital investment nor ownership of telecom infrastructure, which is provided by the wholesaler; This opportunity given to creative minds has led to the creation of employment and wealth in a sector previously dominated by few, and mostly foreign investment.
Today the country has more than 15 Internet Services Providers, besides the regular mobile network operators, that offer services across the country and to various markets.
Furthermore, the Internet services providers have been given the unique opportunity to expand their services at unprecedented speed unlike previously witnessed in network deployment and expansion.
At the end of 2016, Rwanda population shall be covered by high speed wireless network (4G) at more than 60%. It should be noted that in standard practices, networks are deployed based on commercial demand, however for the Rwanda’s model case, the broadband access has been considered as basic utility, hence even the remotest areas is connected regardless of the existing clientele, rather an encouragement to entrepreneurs to tap into potential opportunities created by broadband access and develop businesses.
Where to Next?
The trends in the recent months show signs of what to expect in nearby future: Rwandans have changed attitude on how to transact, socialize and communicate through broadband connectivity; It is therefore with no doubts that the service industry in public and private sectors is about to be revolutionized.
One would say that, yes the access might not be the issue in near future but what about tangible results in transforming the economy and the people’s lives; Indeed the access is not the end in itself, rather the perquisite for much more benefits to be realized.
The writer is the Chief Strategy officer at KT Rwanda networks.
Email: ngabodesire@gmail.com
Rwanda's innovative broadband distribution model
By: DESIRE NGABONZIZA
PUBLISHED: October 06, 2016
DESIRE NGABONZIZA
Rwanda’s Vision 2020 has been a journey to transform its economy from an agrarian economy to a knowledge-based one. A key milestone on this journey is the deployment of broadband infrastructure accessible to all its citizens wherever they live and work.
This deployment can happen in one of two ways. The traditional way is to leave the matter to the telecom market to competitively build broadband infrastructure until the country is fully covered.
This takes a long time because each of the telecom operators will typically build their own broadband infrastructure. This leads to multiple infrastructures all competing for the market of broadband users.
This means that neither of the infrastructure players can profitably cover the whole country in the short time required by the country to proceed with its economic development agenda. The other less understood consideration is to do with the frequency spectrum available to support high speed broadband.
Multiple infrastructures would lead to low speed broadband because the available spectrum is split up among the telecom operators. In summary, the traditional approach would take too long to deliver universal broadband services and even then, the service would be characteristically slow broadband.
Rwanda understood these two important factors and chose not to proceed this way.
To accomplish its broadband vision, government, represented by the Rwanda Development Board (RDB), initiated a public-private partnership (PPP). In this PPP the Government would contribute (in exchange for equity) the national fibre optic backbone network it had previously deployed as well as its unbroken allocation of broadband spectrum.
The private industry partners would contribute the financial capital and the operating expertise required to deploy and exploit a nation-wide 4G/LTE wireless access network, operated as a shared network for all other telecom service providers to use in the delivery of higher value services required in all sectors of the economy.
One economically feasible universal 4G LTE network with sufficient spectrum allocation to ensure high speed over a long time of the country’s economic development, operated as shared network and regulated under wholesale-retail model.
This partnership was available to local and international telecom operators. KT Corporation (KT) made a decision to participate in the PPP and 4G LTE coverage is on track to cover 95% of Rwanda’s population by the end of 2017.
That is a tremendous achievement for country determined to improve the socio-economic conditions of its citizens in one generation since commencement of its economic development programme.
When 4G was launched in early 2014 on a trial basis, it was a dream come true for people who were exposed enough to understand the opportunities created by this technology. Even though the number of users were few due to various reasons it was nonetheless one of the biggest milestones in Rwanda’s economic development. It would be a historical milestone for many other developing countries.
Two years later the meaning of broadband internet and what could be done with it now better understood by many, especially the youth. Yes the usage hasn’t reached the needed level but it’s only a matter of time with Rwanda’s improving social-economic conditions.
Many Rwandans had little or no prospect of building a future by creating products and services possible only with high speed broadband giving them access the whole national market. Now they do.
What developing country would not aspire to that achievement? But as always the devil is in the “market implementation details”. It is important to look at what has happened since launch of 4G LTE in 2014.
For the first time since the introduction telecom services in Rwanda, it’s now possible for any talented entrepreneur to offer telecommunication services to end users with no much capital investment nor ownership of telecom infrastructure, which is provided by the wholesaler; This opportunity given to creative minds has led to the creation of employment and wealth in a sector previously dominated by few, and mostly foreign investment.
Today the country has more than 15 Internet Services Providers, besides the regular mobile network operators, that offer services across the country and to various markets.
Furthermore, the Internet services providers have been given the unique opportunity to expand their services at unprecedented speed unlike previously witnessed in network deployment and expansion.
At the end of 2016, Rwanda population shall be covered by high speed wireless network (4G) at more than 60%. It should be noted that in standard practices, networks are deployed based on commercial demand, however for the Rwanda’s model case, the broadband access has been considered as basic utility, hence even the remotest areas is connected regardless of the existing clientele, rather an encouragement to entrepreneurs to tap into potential opportunities created by broadband access and develop businesses.
Where to Next?
The trends in the recent months show signs of what to expect in nearby future: Rwandans have changed attitude on how to transact, socialize and communicate through broadband connectivity; It is therefore with no doubts that the service industry in public and private sectors is about to be revolutionized.
One would say that, yes the access might not be the issue in near future but what about tangible results in transforming the economy and the people’s lives; Indeed the access is not the end in itself, rather the perquisite for much more benefits to be realized.
The writer is the Chief Strategy officer at KT Rwanda networks.
Email: ngabodesire@gmail.com
Rwanda's innovative broadband distribution model
DR Congo, Tanzania agree to jointly explore petroleum in Lake Tanganyika
DR Congo, Tanzania agree to jointly explore petroleum in Lake Tanganyika | Africanews
DR Congo, Tanzania agree to jointly explore petroleum in Lake Tanganyika | Africanews
I wonder if they are considering any environmental concerns from drilling for oil.
of course not lol
Red Shield
Global Domination
Kenya counts on industrial parks to spur power uptake
By Patrick Alushula
Updated Fri, October 7th 2016 at 00:00 GMT +3
The Lord Clive Hollick (left) UK trade envoy to Kenya & Tanzania, Nic Hailey (second left) The High Commissioner of the UK to Kenya, Eng. Patrick Njoroge (second right) PS Ministry of Energy & Petroleum and Jeremy Awori (right) CEO Barclays Bank of Kenya during a renewable energy conference on 6th October 2016. PHOTO: WILBERFORCE OKWIRI
The Government is betting on more industrial parks to increase demand for power to match ongoing huge investments.
This is in order to avert a supply glut as more investors continue to make investments towards achieving 5,000MW by next year.
The Government will continue putting up more industrial parks across the country to help spur demand for power Energy Principal Secretary Joseph Njoroge has said.
“There is a deliberate intention of putting most of these industries not too far away from the [power] generation sources so that we can be able to reduce even further the cost of electricity,” he told investors from UK during a conference in Nairobi.
In a day-long conference that brought together 100 representatives from Kenya and British firms that are keen on renewable energy investments, Njoroge said the strategic locations will create competitive prices and attract more foreign direct investment.
However, Njoroge said investments in energy will rely heavily on the demand side as opposed to just hitting the 5000MW target. The Ministry of Industrialisation is leading Government’s effort to set up industrial parks with Dongo Kundu in Mombasa, Taita Taveta, Voi, Mtito Andei, Nairobi, Naivasha and Nakuru already having been earmarked for the first phase.
READ MORE
Speaking in the same function, UK top Trade envoy to Kenya and Tanzania, Lord Clive Hollick reiterated the commitment of British firms to increasing their investments in renewable energy. “The memorandum of understanding between Kenya and UK to set aside Sh70 billion for investing in renewable energy will support the capacity and development of strategic renewable energy projects in Kenya,” he said.
Barclays Bank Kenya CEO Jeremy Awori, whose bank co-hosted the forum, said Kenya needs to increase the uptake of renewable energy to cushion itself from potential global oil price shocks that could strain the balance of payments.
“In addition to the cost, environmental impact of our dependence on traditional fuels makes it imperative that we work quickly to transition Kenya to a clean energy future,” he said. His bank has invested in several power projects including Sh13.4 billion in Thika Power Plant and Sh26 million in ‘Light up Kenya’ initiative that is targeting to connect 100,000 rural homes to solar power.
Increasing renewable energy will give Kenya momentum to compete effectively with other emerging economies, according to British High Commissioner to Kenya Nic Hailey, who praised the country for being second on the continent in using renewable energy.
Kenya counts on industrial parks to spur power uptake
By Patrick Alushula
Updated Fri, October 7th 2016 at 00:00 GMT +3
The Lord Clive Hollick (left) UK trade envoy to Kenya & Tanzania, Nic Hailey (second left) The High Commissioner of the UK to Kenya, Eng. Patrick Njoroge (second right) PS Ministry of Energy & Petroleum and Jeremy Awori (right) CEO Barclays Bank of Kenya during a renewable energy conference on 6th October 2016. PHOTO: WILBERFORCE OKWIRI
The Government is betting on more industrial parks to increase demand for power to match ongoing huge investments.
This is in order to avert a supply glut as more investors continue to make investments towards achieving 5,000MW by next year.
The Government will continue putting up more industrial parks across the country to help spur demand for power Energy Principal Secretary Joseph Njoroge has said.
“There is a deliberate intention of putting most of these industries not too far away from the [power] generation sources so that we can be able to reduce even further the cost of electricity,” he told investors from UK during a conference in Nairobi.
In a day-long conference that brought together 100 representatives from Kenya and British firms that are keen on renewable energy investments, Njoroge said the strategic locations will create competitive prices and attract more foreign direct investment.
However, Njoroge said investments in energy will rely heavily on the demand side as opposed to just hitting the 5000MW target. The Ministry of Industrialisation is leading Government’s effort to set up industrial parks with Dongo Kundu in Mombasa, Taita Taveta, Voi, Mtito Andei, Nairobi, Naivasha and Nakuru already having been earmarked for the first phase.
READ MORE
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Speaking in the same function, UK top Trade envoy to Kenya and Tanzania, Lord Clive Hollick reiterated the commitment of British firms to increasing their investments in renewable energy. “The memorandum of understanding between Kenya and UK to set aside Sh70 billion for investing in renewable energy will support the capacity and development of strategic renewable energy projects in Kenya,” he said.
Barclays Bank Kenya CEO Jeremy Awori, whose bank co-hosted the forum, said Kenya needs to increase the uptake of renewable energy to cushion itself from potential global oil price shocks that could strain the balance of payments.
“In addition to the cost, environmental impact of our dependence on traditional fuels makes it imperative that we work quickly to transition Kenya to a clean energy future,” he said. His bank has invested in several power projects including Sh13.4 billion in Thika Power Plant and Sh26 million in ‘Light up Kenya’ initiative that is targeting to connect 100,000 rural homes to solar power.
Increasing renewable energy will give Kenya momentum to compete effectively with other emerging economies, according to British High Commissioner to Kenya Nic Hailey, who praised the country for being second on the continent in using renewable energy.
Kenya counts on industrial parks to spur power uptake
Cuba to share research on HIV/AIDs with Uganda
By John Semakula
Added 7th October 2016 02:11 PM
The executive chairman of Cipla Quality Chemicals, Emanuel Katongole told Salvado that they were also ready to advise Cuba on how to use local solutions to fight HIV/Aids.
HIV testing
Cuba and Uganda have agreed to share knowledge on fighting HIV/AIDs in a bid to contain the pandemic, New Vision has learnt.
While touring Cipla Quality Chemicals Ltd in Luzira on Thursday, Cuban Vice-President, Salvado Valdes Mesa said his country would accept to collaborate with Uganda's experts on HIV/AIDs.
The executive chairman of Cipla Quality Chemicals, Emanuel Katongole told Salvado that they were also ready to advise Cuba on how to use local solutions to fight HIV/Aids.
The meeting between the two also rekindled the old memories after Kantongole commended Cuba for exposing the danger of HIV/AIDs among Ugandan soldiers in the 1980s.
"Those days when HIV/AIDs was still a big problem, Uganda sent soldiers to Cuba for training and some who tested positive were sent back," Katongole said.
He noted that after sending the soldiers back in 1980s, Cuba advised Uganda on the way forward and that since then the country has never looked back.
"Based on the advice Cuba gave us, we have been on the top of the efforts to fight HIV/AIDs on the globe," Katongole said.
After the Cuban incident in 1980s, Uganda launched a vigorous campaign against HIV/AIDs. The country then reduced her HIV/AIDs prevalence rate from over 30% to 6.1%.
The reduction in the prevalence of HIV/AIDs made President Yoweri Museveni a darling of the West. Museveni, who promoted abstinence from sex before marriage, received accolades for his role.
Salvado has been on a two day visit to Uganda to revamp the relationship between the two countries.
Katongole noted that establishing Quality Chemicals to manufacture ARVs was a strategy Uganda adopted to fight HIV/AIDs after the Cuban incident.
He told Salvado that the construction of the $52m (sh177b) Quality Chemical Plant that manufactures both ARVs and anti-malarias started in 2005 to 2007.
Cipla Quality Chemical Ltd manufactures 130m tablets a month, which translate into 1.6b tablets a year valued at $60m.
Cuba to share research on HIV/AIDs with Uganda
By John Semakula
Added 7th October 2016 02:11 PM
The executive chairman of Cipla Quality Chemicals, Emanuel Katongole told Salvado that they were also ready to advise Cuba on how to use local solutions to fight HIV/Aids.
HIV testing
Cuba and Uganda have agreed to share knowledge on fighting HIV/AIDs in a bid to contain the pandemic, New Vision has learnt.
While touring Cipla Quality Chemicals Ltd in Luzira on Thursday, Cuban Vice-President, Salvado Valdes Mesa said his country would accept to collaborate with Uganda's experts on HIV/AIDs.
The executive chairman of Cipla Quality Chemicals, Emanuel Katongole told Salvado that they were also ready to advise Cuba on how to use local solutions to fight HIV/Aids.
The meeting between the two also rekindled the old memories after Kantongole commended Cuba for exposing the danger of HIV/AIDs among Ugandan soldiers in the 1980s.
"Those days when HIV/AIDs was still a big problem, Uganda sent soldiers to Cuba for training and some who tested positive were sent back," Katongole said.
He noted that after sending the soldiers back in 1980s, Cuba advised Uganda on the way forward and that since then the country has never looked back.
"Based on the advice Cuba gave us, we have been on the top of the efforts to fight HIV/AIDs on the globe," Katongole said.
After the Cuban incident in 1980s, Uganda launched a vigorous campaign against HIV/AIDs. The country then reduced her HIV/AIDs prevalence rate from over 30% to 6.1%.
The reduction in the prevalence of HIV/AIDs made President Yoweri Museveni a darling of the West. Museveni, who promoted abstinence from sex before marriage, received accolades for his role.
Salvado has been on a two day visit to Uganda to revamp the relationship between the two countries.
Katongole noted that establishing Quality Chemicals to manufacture ARVs was a strategy Uganda adopted to fight HIV/AIDs after the Cuban incident.
He told Salvado that the construction of the $52m (sh177b) Quality Chemical Plant that manufactures both ARVs and anti-malarias started in 2005 to 2007.
Cipla Quality Chemical Ltd manufactures 130m tablets a month, which translate into 1.6b tablets a year valued at $60m.
Cuba to share research on HIV/AIDs with Uganda
Tanzania Sees Growth as Spending Spree Offsets Commodities
Nafeesa Syeed NafeesaSyeed
October 6, 2016 — 3:04 PM EDTUpdated on October 7, 2016 — 5:53 AM EDT
The gold- and natural gas- producing nation expanded 7.9 percent in the second quarter, compared with 5.5 percent between January and March, buoyed by the transportation and mining industries. The government increased spending by about a third in this year’s budget to devote more resources toward infrastructure, including building roads and power plants.
“So far the challenge we have had is on the commodity prices and, of course, we are taking countercyclical measures to make sure we are not hit as hard -- basically drawing on our experience from 2007, 2008” during the financial crisis, Mpango said in an interview in Washington on Thursday.
With growth picking up in the second quarter of 2016, “we are fairly within our projections,” Mpango said. Expansion is forecast at about 7.4 percent next year, he said.
The government’s outlook is roughly in line with growth estimates released by the International Monetary Fund this week. It cited Tanzania among a handful of sub-Saharan African economies showing resilience in “challenging conditions.” The region’s overall expansion is forecast by the IMF at 1.4 percent this year and 2.9 percent the next.
While Tanzania’s debt load is currently manageable, high borrowing costs are a concern for policymakers, said Mpango.
“We have to be worried, particularly when we go to borrow commercially. The rates are high and therefore, we need to worry,” he said. “But for the time being, all the debt indicators show that we are fine.”
The East African nation secured $1.6 billion in loans and grants from the World Bank to finance projects, including $200 million for the state-run electricity utility, Tanesco, the finance ministry said in a statement Thursday.
Tanzania Sees Growth as Spending Spree Offsets Commodities
Nafeesa Syeed NafeesaSyeed
October 6, 2016 — 3:04 PM EDTUpdated on October 7, 2016 — 5:53 AM EDT
- Finance chief says expansion driven by ‘countercyclical’ steps
- Government boosts spending to soften impact of commodity rout
The gold- and natural gas- producing nation expanded 7.9 percent in the second quarter, compared with 5.5 percent between January and March, buoyed by the transportation and mining industries. The government increased spending by about a third in this year’s budget to devote more resources toward infrastructure, including building roads and power plants.
“So far the challenge we have had is on the commodity prices and, of course, we are taking countercyclical measures to make sure we are not hit as hard -- basically drawing on our experience from 2007, 2008” during the financial crisis, Mpango said in an interview in Washington on Thursday.
With growth picking up in the second quarter of 2016, “we are fairly within our projections,” Mpango said. Expansion is forecast at about 7.4 percent next year, he said.
The government’s outlook is roughly in line with growth estimates released by the International Monetary Fund this week. It cited Tanzania among a handful of sub-Saharan African economies showing resilience in “challenging conditions.” The region’s overall expansion is forecast by the IMF at 1.4 percent this year and 2.9 percent the next.
While Tanzania’s debt load is currently manageable, high borrowing costs are a concern for policymakers, said Mpango.
“We have to be worried, particularly when we go to borrow commercially. The rates are high and therefore, we need to worry,” he said. “But for the time being, all the debt indicators show that we are fine.”
The East African nation secured $1.6 billion in loans and grants from the World Bank to finance projects, including $200 million for the state-run electricity utility, Tanesco, the finance ministry said in a statement Thursday.
Tanzania Sees Growth as Spending Spree Offsets Commodities
My eyes have definitely been on Tanzania for a while. When my sis went there she saif it was quite stable. I'll probably post pics.