Category: LOCAL

The African Economic Research Consortium’s (AERC) plenary session of the 58^th Biannual Research Workshop was held yesterday on a virtual platform, with calls to facilitate continent-wide unity on trade to accelerate the recovery agenda.

Speaking during the conference, Prof. Benedict Okey Oramah, President and Chairman of the Board of Directors, The African Export-Import Bank, noted that even after regional integration agreements and treaties, the African regional trade has not grown substantially as had been expected. Currently, intra-Africa trade stands at 15.4%, and Africa’s share of global Gross Domestic Product (GDP) trade is estimated at 2.6%, despite accounting for 16.3% of the world’s population.

“It is essential for countries to reduce today’s debt burden promptly through economic reform, lowering the cost of financing, and debt restructuring on a case-by-case basis. The international community should also step-up efforts to improve debt restructuring processes, including the G20 Common Framework, to ensure that debt relief is delivered in a timely and efficient manner where it is needed”, he said.

The plenary session also noted some notable progresses in some sub-regions where integration in trade, finance and labor mobility is improving fast and acknowledged that harnessing the full benefits of Africa Continental Free Trade Area (AfCFTA) agreements and strengthening the regional integration and regional trade prospects are new avenues for exploiting the limitless opportunities.

Referencing the need to leverage on education to produce excellent research as a future goal for more focused impact, the AERC Executive Director Prof. Théophile Azomahou, encouraged the need to ensure that research is selective and conducted within respective thematic areas.

“Whilst education is inclusive, research should be trained and taught in a manner that encourages our young and upcoming researchers to be more deliberate in their methods by narrowing down topics to be as thematic as possible. This will help build knowledge in different areas of focus for policy makers and help shape solutions to our everyday problems,” he said.

Some of the notable steps that were discussed as possible solutions for mitigating these multiple shocks were investing in the transformation of African economies to reduce the unhealthy and credit-rating negative correlation between price and commodity price cycles, investing in the development of capital markets , closing infrastructure deficit especially in the power sector  to close the chronic electricity deficit which has been one of the greatest constraints to productivity growth and industrial output as well as increasing relevance and impact of AERC networks in the policy and development arenas, among others.

Other discussions touched on the fact that close to 60% of Africa’s GDP growth is explained by temporal, cyclical factors, but with large variance across countries. The recovery from the shock that is taking shape now runs the risk of being uneven, widening the differences within Africa itself and between Africa, and the rest of the world.

Additionally, in an economic sense, the productivity shocks on agriculture, food security and land productivity due to climate change cannot be taken lightly. There is evidence that points to increasing poverty and inequality induced by climate change and this is beyond the argument of marginal areas. The commitments by international development partners to finance the climate change initiatives are not coming forth as fast as expected to provide a stopgap to resource challenges in Africa. There are areas that can be harnessed with domestic resources, like creating shallow water wells for pastoralists that would minimize conflicts in those marginal areas.

The plenary session featured four presentations by eminent economists including: The Impact of the War in Ukraine on the Recovery and Resilience of African Economies by Dr. Hanan Morsy, Deputy Executive Secretary and Chief Economist, United Nations Economic Commission for Africa (UNECA), Addis Ababa; Development Narratives and the Political Economy of Development in Sub-Saharan Africa by Prof. Stefan Dercon, Director, Center for the Study of African Economies and Blavatnik School of Government, University of Oxford, United Kingdom; Accelerating Climate Action and Sustainable Development in Africa: Meeting the Financing Challenge by Dr. Amar Bhattacharya, Senior Fellow Brookings Institution, Washington DC, USA; and External Shocks and Fiscal Space for Climate-Resilient Development in Sub-Saharan Africa by Prof. Kevin Gallagher, Director, Global Policy Center, Boston University

Other distinguished panelist on the policy roundtable included: Prof. Amanda Guimbeau, University of Oxford and Fellow, Pembroke College, United Kingdom; Dr. Selma Karuaihe, Head and Senior Lecturer, Department of Agricultural Economics, Extension and Rural Development, University of Pretoria, South Africa; Dr. Paul Mpuga, Country Chief Economist, African Development Bank Group, and Prof. Amanda Guimbeau, Département d’économie, Universite de Sherbrooke, Canada.

The concurrent sessions and technical sessions of the workshop will start on Tuesday, 23 May 2023 to Monday, 29 May 2023. They will feature 80 presentations of research proposals, work in progress, final reports, and interim PhD thesis reports.

Research PLUS Africa, a leading research organization committed to promoting equity, diversity, and inclusivity has unveiled a collaborative platform aimed at empowering African researchers and revolutionizing the research landscape in the continent.

Dubbed Research SPRING, the platform will serve as a dynamic vehicle for originating cutting-edge research in Africa. It will foster collaboration and co-creation among all African stakeholders to produce impactful research that will shape the future of the African research and evaluation landscape.

With an agenda driven by Africans for Africans, Research SPRING aims to build a robust local evidence base and curate knowledge products that drive socio-economic growth across the continent.

Research PLUS Africa Founder and CEO Mokeira Masita said “We are thrilled to introduce Research SPRING as a collaborative platform for African researchers. Through this platform, we aim to foster collaboration, co-creation, and knowledge exchange among researchers across the continent. By bringing together diverse stakeholders and empowering African researchers, we believe we can drive significant advancements in research and contribute to socio-economic growth in Africa. Collaboration and co-creation are cornerstones of a thriving connection between research and practice in Africa. They have a catalytic effect on the much-needed adoption of data-driven solutions and interventions that in turn spur on socio-economic development.”

The company which also marked its 10 years since inception, has urged and called upon stakeholders and partners in the Research space to support the strong movement on decolonizing research and evaluations.

“Over the past decade, Research PLUS has recognized the pressing need to address historical biases, power imbalances, and knowledge gaps that have resulted from colonial legacies in research. We recognize that decolonization is an ongoing process, and we are dedicated to continuously learning, unlearning, and taking concrete actions to dismantle colonial structures within the research community. We want to urge everyone in this space to join us in this journey” Mokeira Masita, the Founder and CEO of Research PLUS Africa said.

Over the past decade, Research PLUS Africa has been at the forefront of promoting equitable, inclusive, and locally-driven research in Africa. The organization firmly believes that research and evaluation processes should reflect the diverse perspectives, cultures, and knowledge systems of the African people.

BasiGo has launched a first-of-its-kind, high-power DC Fast charging station for electric buses in Buru Buru. The station has capacity to charge 6 electric buses simultaneously but is projected to support 25 Electric Buses by year’s end. The charging station is the first to be connected to Kenya’s new E-mobility tariff approved by EPRA in March of this year.  The E-mobility tariff provides low-cost power for electric vehicle charging during night-time hours when Kenya currently has a surplus of renewable energy supply.

Speaking at the launch, Jit Bhattacharya , BasiGo CEO said:  “BasiGo is proud to have our Buru Buru charging station be the first connected through the new E-mobility tariff. Every Electric Bus we deploy, and charge replaces the consumption of 20,000 Litres per year of imported diesel, with the consumption of 50 MWh of clean, renewable electricity produced here in Kenya. With the new E-mobility tariff, we can invest in infrastructure like this charging station and enable the rapid growth of the electric vehicle industry in Kenya.”

Speaking at the launch, Dr. (Eng.) Joseph Siror,  KPLC Managing Director and Chief Executive Officer said : Here in Kenya, the transport sector contributes to 67% of all emissions in the energy sector and 12% of national emissions. The sector emissions are projected to rise to 17% in 2030. To combat this trend, the E-mobility sector ought to be supported to grow and take off in the country. Being the biggest economy in the region, an innovation hub, and a clean energy global leader, Kenya stands an unparalleled chance to become the launch pad for the rest of the continent when it comes to the growth of the EV sector.

BasiGo now has 3 charging sites in operation in Embakasi, Kikuyu, and now BuruBuru, with capacity to charge over 20 electric buses. Located on Rabai Road, the Buruburu station will be the home base for Electric Buses operated by OMA Services and Embassava SACCO.

George Muriithi Githinji, Chairman OMA Sacco said: “We are grateful to BasiGo for this partnership and entrusting us with 2 e-buses initially and now we are at 4. This is a transformation to our industry in terms of operations efficiency especially with the Pay as you Drive mode, cost effectiveness and environment friendliness compared to our diesel buses. The facility brings efficiency to our model of operations, because of its proximity and has helped us add additional 8-10 trips in our operations, which translates to revenue of around 22,000 per day.

“Convenient and reliable charging infrastructure is the most critical challenge for electrifying public transport in Kenya. The Buru Buru station is located directly along our customer’s operating routes, making charging convenient and easy for their daily bus operations.  Stations like this represent the future of how public transport will be powered in Kenya, and it is made possible through our close working partnership with Kenya Power and Lighting Company (KPLC),” Jit added.

By the end of 2023, BasiGo charging stations will be made open to the public to charge electric cars and trucks. BasiGo plans to deploy charging Stations like these across Nairobi and eventually across the country, to support the deployment of 1,000 Electric buses to Nairobi bus operators over the next 3 years.

realme, the world’s fastest-growing smartphone brand has defied a general slump in shipments linked to high inflation and  global supply chain disruptions to grow its share of smartphones entering Kenya and other African markets.

According to the research firm Canalysis,  realme was the only brand that recorded a positive growth in number of shipment in the first quarter of 2023 of the top five smartphone vendors in the continent.

From this report,  realme’s shipment share grew by 11 percent to 3 percent while the rest recorded a drop of between 13- 42 percent over the Period.

realme Kenya PR & Marketing Manager, Mildred Agoya said a rising demand for entry-level smartphones in Kenya, Morocco and Algeria were biggest drivers of the growth.

“We continue to record increased popularity of smartphones under this different segments with the entry level segment, especially from a youthful customer-base, in these three countries. We are very proud for such a performance that reflect on our resolve to meet dynamic needs of our customers even in difficult times, with innovative solutions and budget friendly devices,” said Agoya.

Among realme’s popular models in the entry level segment is the C-series- rich in high-end features including Full HD screen, faster processing speed, bigger storage and high quality compared to other brands in this segment. With the newly launched realme C55 being named “champion” of the segment among its competitors.

In 2022, realme announced it will over the next three years create an additional 15 markets with 1-million smartphone shipments under its ‘Market Cultivation’ strategy.

However, it will cut down on new smartphone launches to increase shipment number of most popular models.

“This has begun in earnest and we are beginning to see the impact on the market as seen in our first quarter numbers,” said Agoya.

KCB Bank Kenya and National Bank of Kenya (NBK) received multiple awards during this year’s Think Business Banking Awards

The awards which were held under the theme Innovate. Diversify. Grow saw KCB Bank Kenya scoop Best Bank in Sustainable Corporate Social Responsibility, 1^st Runners-Up in Best Bank in Digital Banking, Retail Banking, and Customer Satisfaction categories respectively.

The National Bank of Kenya (NBK) on the other hand emerged 1^st Runners-Up in the ESG Factors and Most Customer-Centric Bank categories. It also secured 2^nd Runners-Up in the Best Bank in the Agricultural and Livestock Financing category.

Speaking after receiving the awards, KCB Bank Kenya Managing Director, Mrs. Annastacia Kimtai noted that the awards are a testament to the bank’s continued commitment to supporting inclusive growth agenda across all customer segments.

“We are delighted about this recognition as it complements our deliberate efforts to elevate support towards embedding customer-centric initiatives to deliver tailored financial solutions to our customers,” Annastacia said.

Think Business Banking Awards is held annually and seeks to recognize organizations in the banking industry that demonstrate exemplary provision of financial services across the banking industry in Kenya.

In the latest episode of African Voices Playmakers, CNN’s Larry Madowo learns how three rugby players from Kenya, Uganda, and South Africa are elevating the sport across the continent and inspiring others to follow in their footsteps.

Dennis Ombachi, a retired rugby player who represented Kenya for over ten years, participated in the Rugby World Cup sevens, the Commonwealth Games and the 2016 Olympics in Rio de Janeiro. However, he admits that the first time he played rugby, he didn’t really like it. “I just liked the fact that if I was in the team, I was excused from some duties, like mopping the dormitory,” he says.

He was later called up to the Kenya Sevens national team with the support of Kenyan rugby legend Humphrey Kayange. Ombachi expresses his gratitude for Kayange’s support, “It was incredible. Humbling. I hope someday I will be able to repay it back to someone else as well.” The pair played alongside each other in the 2016 Rio Olympics. According to Ombachi, one of his top career accomplishments was scoring the try against Zimbabwe that qualified Kenya for the games.

Ombachi tells Madowo, “Rugby taught me a lot of lessons. The first one is always be disciplined; discipline will take you a long way. We had this South African coach called Paul. He used to tell us that ability to unlearn old ideas and pick up new ideas is crucial.”

During his career, he acquired multiple injuries and was diagnosed with bipolar disorder in 2018. He tells CNN, “Mental health is not a destination, it’s a journey. It took me a while for me to accept that I’m bipolar.” Ombachi shares that he often used cooking to get him through difficult times, and after filming videos during the pandemic, later became an internet sensation as The Roaming Chef. His videos earned him the 2022 TikTok Award for Top Creator in Sub-Saharan Africa.

The programme also meets Michael Wokorach, captain of the Uganda rugby sevens team. His career highlights include winning three Africa Cups, playing in four Commonwealth Games and taking The Cranes to two World Cups. He was made captain one year after joining the Uganda Sevens Team, and at 32-years-old, mentoring his peers on and off the pitch is how he wants his captainship to be remembered at both national and club level.

“It’s very important for me to mentor the young players because in the next few years, maybe I’ll be retiring, and I want to have someone who has really mentored to step into my shoes. So, the credit they give me is worth it because I have been a leader for most of my rugby-playing career,” he says. Wokorach says that motivating others is important because, despite being one of the most popular sports in Uganda, the sport faces economic challenges.

Looking forward, Wokorach says, “I still want to achieve more and I want to leave a legacy where when I’m done with the sport, people say he has done all he can and we are really proud of him if he’s ever to retire. We will hold the future and motivate so many other players to come and follow in our footsteps.”

‘African Voices Changemakers’ airs on Saturday 20^th May at 1400 SAST on CNN International

• The move aimed at helping social entrepreneurs navigate challenges and develop sustainable solutions in line with the bank’s vision.
• Recently, the Bank rolled out numerous transformative social innovations that have positively impacted communities and the economy

Faulu, the leading Microfinance Bank, has reinforced its commitment to empowering social entrepreneurs by crafting and rolling out tailored sustainable financial solutions.

The move is aimed at helping social entrepreneurs navigate challenges and develop sustainable solutions in line with the bank’s vision to transform lives and ensure its customers achieve their desired goals.

Speaking during the 6th Annual Africa Conference on Social Entrepreneurship (AACOSE) by Tangaza University and Ashoka Africa, Faulu Bank Acting CEO Julius Ouma said the bank fully understands that customers’ needs are dynamic hence, it not only aims to become customers’ most trusted lifetime partner but also commits to passionately assist them in achieving their financial objectives. The conference aimed at building a collaborative and healthy ecosystem for the African continent’s long-term growth.

By empowering entrepreneurs, Faulu Bank envisions a future where innovative solutions can address pressing societal challenges effectively. Through targeted support, mentorship programs, and financial services, the bank seeks to enable entrepreneurs to build successful ventures and contribute to the economy’s overall growth.

“We understand that customers’ needs are constantly evolving, and we are committed to listening attentively and curating innovative solutions that effectively address these needs. By supporting social entrepreneurship and providing transformative financial products and services, we aim to not only transform lives but also build the financial prosperity of the societies, businesses, and shareholders we engage with.” Said Ouma.

Last year, Faulu Bank rolled out numerous transformative social innovations that have positively impacted communities and the economy. Among these innovations are the introduction of the Faulu DigiCash App which has revolutionized how customers manage their finances, providing convenience and accessibility.

Recognizing the vital role of agriculture in economic growth, the Bank has also fostered agribusiness partnerships and provided dedicated agribusiness financing solutions, actively driving sustainable economic development and contributing to food security by supporting farmers, agribusinesses, and stakeholders along the agricultural value chain.

As a socially responsible financial institution, the bank understands the significance of nurturing entrepreneurs through social innovations. With a focus on customer-centricity, innovation, and strategic partnerships, it seeks to continue to play a pivotal role in transforming lives and fostering financial prosperity.

 In 2022, Samsung Electronics announced its environmental strategy to achieve net zero carbon emissions by 2050.

As part of these sustainability efforts, Samsung has expanded the use of recycled materials in plastic parts for its products. By 2030, Samsung aims to incorporate 50% recycled materials into its plastic parts and by 2050, aims to use 100% recycled materials for all of its plastic parts.

“Samsung is constantly pushing the boundaries of innovation and embracing responsibility towards a sustainable future. Samsung’s new strategy is to focus on the development of smaller, lighter solar cell remotes. This not only represents a remarkable technological leap forward but also embodies the businesses commitment to reducing the brand’s environmental footprint,” said the Head of Consumer Electronics at Samsung Electronics East Africa, Mr. Samuel Odhiambo. He further went on to say, “By leveraging advanced technology, Samsung aims to minimize waste and maximize energy efficiency, thus making Samsung products eco-friendlier. Samsung’s initiative is a testament to the business’ pledge to promote a healthier environment and a greener planet.”

Samsung Electronics developed the SolarCell Remote to combat the environmental impact of discarding used batteries. It is the industry’s first rechargeable remote control, with a solar panel (solar cell) that can be charged by sunlight or indoor lighting. The remote can also be charged with a USB-C cable so consumers have many ways to charge their remote.

The level of carbon emissions from the SolarCell Remote, from production to disposal, is roughly one-third of that of the manufacturing of disposable batteries. By eliminating the need for disposable batteries, not only are fewer resources consumed but carbon emissions are lowered by manufacturing fewer batteries over time.”

Another remarkable feature is its low power consumption. The SolarCell Remote was designed to run on about 10% of the power that typical remote controls use. Samsung made significant progress by drastically eliminating unnecessary outputs and operations, contributing to great energy savings.

The SolarCell Remote Recycles More Than 55 Tonnes of Waste

Twenty-four percent of the plastics used in the SolarCell Remote come from recycled materials. This means more than 55 tonnes of waste are recycled for the annual production of 10 million SolarCell Remotes. This equates to about an 18% decrease in carbon emissions compared to production using conventional materials.

This was no simple undertaking. It takes time and effort to develop and apply alternative materials made from recycled waste in a meaningful way.

“With growing concerns about ocean waste, we looked carefully into many solutions. We chose to use recycled plastics from discarded fishing nets for 20% of brackets of the 2023 SolarCell Remote,” said HyunJoo Kim from Mecha Solution Lab. “Going forward, we aim to foster the use of these resources and utilize recycled plastics more aggressively.”

This year, Samsung started using recycled plastics from discarded fishing nets. While they are costly and difficult to process, the end result is a higher quality of materials which contribute to Samsung’s mission of everyday sustainability. In recognition of this product’s environmentally friendly design, Time Magazine selected the SolarCell Remote as one of Time Magazine’s “The Best Inventions of 2022.”

All of Samsung’s 2023 Lifestyle TVs are equipped with the 2023 SolarCell Remote. Samsung’s goal is to integrate more eco-conscious products and processes into a wider range of models across regions and empower consumers to live a more sustainable lifestyle. In addition, Samsung decreased the size of the SolarCell Remote by 22% in its latest iteration. This means that the remote control uses less plastic while enhancing the product’s usability.

As the SolarCell Remote became smaller, manufacturing uses less plastic and it became an ideal size for consumers’ hands, making it a better product all around.

Pursuing an Eco-Conscious Strategy with a Streamlined Approach

Samsung’s next steps to enhance sustainability of the SolarCell Remote is to keep

moving in the direction of light, thin and small to keep the use of plastic low.

Samsung is dedicated to creating a user-friendly remote control that consumes fewer resources and less energy. The ultimate goal is to empower users to control products with minimal effort while reducing the use of materials and energy. This could mean one day we get rid of the remote control entirely. The SolarCell Remote is a bold step in the direction of everyday sustainability and Samsung can’t wait to show everyone what’s next.

The ambitious journey of the SolarCell Remote to contribute to a more eco-conscious lifestyle is just beginning.

Stanbic Bank Kenya, a subsidiary of the Standard Bank Group, has been selected as a key strategic partner by the Government of Kenya, through the Ministry of Investments, Trade, and Industry, for the Kenya International Investment Conference (KIICO 2023). This conference, with the theme “Unlocking Africa’s Gateway,” will take place in Nairobi, Kenya from May 29th to May 31st, 2023.

Leveraging off Standard Bank’s presence in the region, Stanbic Bank has brought on board key private sector players across Africa, from all their countries of representation to the KIICO 2023. Standard Bank Group is the largest African bank by assets. It operates in 20 African countries, with 5 global financial centres and 3 offshore hubs.

Stanbic Kenya and South Sudan’s Chief Executive, Dr. Joshua Oigara said this presence and connection with global financial centres enable the bank to facilitate investment, trade, and development flows in Africa, and to access international capital to facilitate growth, diversification, and development in Africa.

“We are exhilarated to collaborate with The Ministry of Investments, Trade. As Stanbic Bank, we are at the forefront in identifying and mitigating regional trade and investment barriers through engagement with governments, with the aim of identifying and proposing solutions for trade and investment barriers,” Dr Oigara added.

Over the years, Stanbic Bank’s contribution has been recognised as a trusted financial institution through various awards such as Kenya’s Best Investment Bank and Best Trade Finance Bank. Standard Bank Group has also garnered several awards at the Euromoney Awards for Excellence, further bolstering its position as the premier investment bank in Africa. As a central player in the local market financing the bank has funded deals across various sectors in the continent.

Hon. Moses Kuria, Cabinet Secretary, Ministry of Investments, Trade, and Industry emphasised Stanbic Bank’s crucial role as a partner for the Private Sector dialogue in promoting a private sector-led economy under the African Continental Free Trade Agreement (AfCFTA). “I want to recognise Stanbic Bank for being a worthy partner in driving trade in Africa.”

The KIICO 2023 conference will host 55 Trade Ministers from Africa to develop an implementation plan for the AfCFTA. The plan will unlock a market of 1.3 billion people, that is expected to grow to 2.5 billion by 2050, forming a strong integrated African market that will be a key driver for Kenya’s economic renaissance.

The Trade Ministers will be joined by CEOs of the top 100 Companies in Africa in a Dialogue that will seek to ensure that the African Private Sector is fully incorporated in the AfCFTA implementation roadmap.

Representatives from the East Africa Community (EAC) member states, including members of the Secretariate, visited Tatu City, the 5,000-acre mixed-use Special Economic Zone (SEZ), for a familiarisation tour.

The purpose of the visit was to help the member states better understand SEZs and appreciate the challenges investors and operators in the SEZs face, particularly on regional market access and rules of origin. These findings will inform the recommendations proposed in the upcoming EAC-SEZ Regulations review exercise.

“Following a recent knowledge exchange visit with the Secretariate of the Common Market for Eastern and Southern Africa (COMESA) and this visit in particular, it has become evident that there is a shared interest in fostering regional integration by establishing favourable and mutually beneficial trading policies,” Solomon Mahinda, Tatu City Executive Vice President.

The delegation, under the auspices of the Special Economic Zones Authority (SEZA), had convened in Nairobi for a workshop to discuss and finalise the proposed draft regulations for the EAC-SEZ policy, which will help promote trade and regional market access within the East Africa community.

“Visiting and interacting with the experts who have successfully established and operated a mixed-use SEZ is truly enlightening for the EAC Secretariate in attendance. The insights gained from this visit will be invaluable in guiding our efforts to streamline the EAC-SEZ regulatory framework,” commented Annette Kenganzi, Senior Exports Promotion Officer Arusha, Tanzania.

Late last year, Tatu City hosted Ugandan members of parliament for a learning tour on establishing mixed-use Special Economic Zones. More recently, Kenya’s Ministry of Investment, Trade and Industry and the Council of Governors visited the city as the government looks to develop industrial parks and SEZs in each of Kenya’s 47 counties.

Dozens of companies operate in Tatu City’s business-friendly location, including Kenya Wine Agencies Limited, Dormans, Copia, Cooper K-Brands, Grit Real Estate Income Group, Twiga Foods, CCI Global, Freight Forwarders Solutions, Friendship Group and Davis & Shirtliff. More than 3,000 homes and apartments are occupied or under construction at Unity Homes and the Kijani Ridge neighbourhood.