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  • European Investment Bank and Kenya strengthen green hydrogen cooperation

    European Investment Bank and Kenya strengthen green hydrogen cooperation

    • EIB Vice President confirms EIB support for green hydrogen engagement with President Ruto
    • New agreement to develop and unlock investment to produce green hydrogen using renewable energy
    • EIB and Kenya to identify potential green hydrogen investment projects
    • New green hydrogen cooperation follows four decades of EIB backing renewable energy in Kenya

    The European Investment Bank, the world’s largest multilateral bank and leading global financier of renewable energy, will strengthen support for green hydrogen investment in Kenya.

    Thomas Östros, European Investment Bank Vice President and Professor Njuguna Ndung’u, Cabinet Secretary, National Treasury and Economic Planning signed the Joint Declaration on Renewable Clean Hydrogen following discussions on green hydrogen investment with William Ruto, President of the Republic of Kenya.

    “Kenya has some of the best renewable energy sources in the world if the storage components were equally developed. The route to storage has the potential to develop green hydrogen to deliver sustainable, green and inclusive growth. Today’s agreement builds on decades of close cooperation with the European Investment Bank to support renewable energy across Kenya. Together we will develop projects that will develop green hydrogen as part of the Kenya Energy Roadmap 2040 ” said Professor Njuguna Ndung’u, Cabinet Secretary, National Treasury and Economic Planning.

    “Kenya’s wind and solar power can be harnessed to produce green hydrogen and provide affordable power for economic development and industrial growth. The Joint Declaration between Kenya and the European Investment Bank will improve understanding of how best to identify, structure, unlock and implement green hydrogen investment. Development of green hydrogen in Kenya has the potential to enable 100% of Kenya’s energy needs to be supplied by clean power.” said Davis Chirchir, Cabinet Secretary, Ministry of Energy.

    “As part of Team Europe, the European Investment Bank stands ready to enhance cooperation to develop public and private sector investment that uses wind, solar and geothermal resources to produce green hydrogen, combat climate change, and support economic development in Kenya. Our energy and finance experts at the EIB Regional Hub in Nairobi and at headquarters will work closely with Kenyan partners to identify and develop new renewable energy projects and unlock construction of hydrogen production infrastructure.” said Thomas Östros, European Investment Bank Vice President.

    “The European Union and Kenya are committed to tackling climate change and increasing use of renewable energy. The new agreement between the EIB, the EU Bank, and Kenya will accelerate identification and investment in green hydrogen in Kenya and harness renewable energy to deliver affordable and sustainable energy.” said H.E. Henriette Geiger, European Union Ambassador to Kenya.

    The new agreement will strengthen cooperation to support the development of green hydrogen schemes in Kenya. The EIB expects to initially mobilise EUR 1.8 million of grants from the European Union and to appraise possible loan financing for larger green hydrogen related investment.

    Over the last decade the European Investment Bank has provided more than EUR 5.3 billion for energy investment across Africa, including EUR 418 million for geothermal, wind and solar investment as well as grid investment in Kenya.

  • World Animal Protection Partners with Kenyan Artists to speak for Wildlife

    World Animal Protection Partners with Kenyan Artists to speak for Wildlife

    Animal welfare campaign organization, World Animal Protection, is teaming up with artists and young people in Kenya to raise awareness about wildlife protection. The collaboration aims to build a movement of people to protect Africa’s wildlife from being exploited as commodities of trade. This year’s World Wildlife Day, which is being marked on 3rd March, is celebrated under the theme “Partnerships for Wildlife Conservation”.

    Edith Kabesiime, Wildlife Campaigns Manager at World animal protection, said “ In this year’s celebration, we choose to work with young people who use their platforms to raise awareness and inspire action. Collaborating with artists allows us to reach new audiences and engage with people in a way that goes beyond statistics and data. By harnessing the power of art and creativity, we can inspire and create a global movement of people who respects wildlife as sentient beings and take individual and collective actions to protect them in their natural habitats where they belong”.

     

    This year’s World Wildlife Day coincides with the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) marking 50 years of existence. Therefore, it comes at a crucial time to reflect on the existential crisis facing wild animals in Africa, not only from a conservation angle, but   from a welfare perspective as well. The suffering that animals go through in trade is heartbreaking. They are ruthlessly captured in their habitats, crammed into small spaces in unsanitary conditions during transportation, they are then slaughtered crudely or made to live the rest of their lives tied or caged.

    It is essential to recognize that wildlife trade that involves extraction of individuals from the wild or breeding them in captivity is inherently cruel and causes immense animal suffering. Wildlife trade, whether legal or illegal, has become a major threat to the survival of many species in Africa. Legal trade is generally marred with enforcement failures due to lack of capacity faced by enforcement agencies and corruption.

    “From this year’s theme on partnership, I’m excited that World Animal Protection chose to work with us,” said Kennedy Odongo, the talent development officer at the Kenya National Theater. “I believe that art can be a powerful tool to raise awareness on important issues such as animal welfare.  I hope that our collaboration will inspire people to take action to protect all species of wildlife. We will continue to use our Poetry After Lunch events to place animal welfare agenda at the top of people’s mind as a way of giving a voice to animals considering that there is a raft of exploitative practices that are causing so much suffering to wildlife including trophy hunting, traditional medicine and exotic pet trade.“

    African governments need to take a pre-cautionary approach on wildlife trade. They need to be aware of and address the health dangers of the wildlife trade. They also need to realize that wild animals are much more valuable alive than when they are dead. There is a need to recognize the intrinsic value of wild animals, as well as their contribution to the ecosystems and the planet.

    Some progressive governments in Africa such as Kenya have been praised for being champions at CITES and getting species up listed for better protection. However, there is still much more to be done. African governments are urged to address extractive practices, such as reptile farming for export for pets and traditional medicine. Kenya is encouraged to do more to strengthen enforcement to ensure that the country is not used as a hub for pangolin and other wildlife trafficking.

    “On this World Wildlife Day, let us remember that wildlife trade is just cruel and subjects animals to tremendous pain during capture, transit, slaughter and in homes and commercial venues where some live the rest of their lives in misery.  We need to work together to ensure that we protect them from commodification. Wildlife have a right to a wild life.” Said Edith Kabesiime when addressing attendees at the art even held at the Kenya National Theater.

  • Kenyan Private Investors Concentrate in Africa during Global turmoil, with World’s most Optimistic Outlook

    Kenyan Private Investors Concentrate in Africa during Global turmoil, with World’s most Optimistic Outlook

    Kenya’s wealthy fared better than the wealthy anywhere else in the world during the economic turmoil of 2022, retreating from international citizenships and foreign property in favour of Kenya and Africa as safe havens, according to the 2023 attitudes survey issued today with Knight Frank’s annual Wealth Report.

    The world’s Ultra-High Net Worth Individuals (UHNWIs) saw their fortunes slashed globally by 10 percent last year on a cocktail of post-pandemic property price falls, soaring energy prices, falling stock markets, and surging inflation and interest rates. The wealthy in Europe were by far the hardest hit, due to Russia’s invasion of Ukraine, suffering a fall of 17.3 percent in their fortunes.

    However, Africa’s UHNWIs saw the lowest losses, recording an overall drop of just 5 percent.

    Knight Frank’s Attitudes Survey of wealth managers also found that next to only Australasia, Africa delivered the highest proportion of clients who increased their wealth in 2022, at 64 percent, compared with the global average of 40 percent, and just 24 percent in the Americas.

    Liam Bailey, Global Head of Research and Editor-in-Chief of The Wealth Report at Knight Frank,
    said: “Nowhere in the world was immune from last year’s inflationary trends, or geopolitical risks.
    However, with the wealthy in Kenya and Africa less exposed to overseas property holdings and
    equity markets than HNWIs globally, their assets proved more resilient to the global disruption.”

    At the beginning of 2022, wealth managers reported that about 19 percent of the property portfolios owned by Kenyan HNWIs were held overseas, compared with an average of 32 percent of overseas holdings by HNWIs globally.

    In the year since, Kenyan HNWI’s overseas holdings have fallen further, to 11 percent, as they have actively exited foreign property markets.

    The stronger investment environment in Africa also combined with key changes to investor visas – including the UK’s closure of its Tier 1 investor visa scheme in February 2022 – to reduce the number
    of Kenyan HNWIs planning to apply for foreign citizenship, which fell to 11 percent in 2023, compared to 28 percent a year ago.

    Kenyan HNWIs favourite options for second home purchasing also shifted. Kenya remained the most
    popular choice, named as one of the top 5 locations by 60 percent of HNWIs, followed by the UK by
    50 percent and US by 40 percent.

    Canada also increased in popularity, with 25 percent of the HNWIs including it in their top 5 locations. But, European locations Sweden, Denmark and Monaco disappeared from Kenyan HNWI’s top choices, while Egypt and Tanzania emerged as new entrants.

    Mark Dunford, CEO Knight Frank Kenya, said: “In this general pivot away from international
    exposure and towards investment in Kenya and Africa, Kenya’s HNWIs are also the most optimistic in
    the world, with 50 percent expecting their wealth to increase by more than 10 percent in 2023. This
    compares with just 21 percent of global HNWIs expecting rises of the same level.”

  • Making a Fortune out of METAL WORKS

    Making a Fortune out of METAL WORKS

    To this man, metal is a precious commodity. He ekes a living out of it and he has been employed three permanent staff.

    Meet John Macharia Mwaura founder and CEO of Johana Metal Works Company Ltd located at Kariobangi Light Industries.

    In a news Interview Mr Macharia shares with us more about his business:

    “I buy ex-factory metals from Mabati Rolling Mills, then sells out to other entrepreneurs who fabricate or resell. The price is determined by the weight whereby a kilogram of metal goes for Kshs. 130. I have also diversified and fabricated the metals to manufacture and sell wheel barrows, gates, trolleys, doors and windows, fences, water towers and dustbins.”

    Mr Macharia has implored upon the government to consider them through giving them tenders to supply services using the locally sourced materials.

    “A good entry point that we are imploring upon the president to consider us is in the affordable housing project. We can comfortably provide durable materials instead of relying on imports some of which cannot match the strength of our locally fabricated ones,” he said.

    He at the same time called upon the government to issue incentives for business incubation as well as increase the Hustler Fund so as to enable them grow and expand their business.

    He has employed four staff on casual basis who help in fabrication.

  • Huawei eyes Ksh 500 billion data center and cyber security market with new solutions

    Huawei eyes Ksh 500 billion data center and cyber security market with new solutions

    Huawei technologies has set a new trend for Africa’s Ksh 500 billion data centers and cyber security industries as storage and computing power becomes core strategic areas for organizations. Focusing on data center infrastructure innovation, the firm is leading the development of capabilities to process massive and diversified computing power in data centers and helping enterprises against cyber threats.

    Addressing the 5th Industry Digital Transformation Summit at the 2023 Mobile World Congress, David Wang, Huawei’s Executive Director of the Board, Chairman of the ICT Infrastructure Managing Board, and President of the Enterprise BG outlined the firm’s strategy, pointing out that digital technologies are expected to progressively affect the future – from the development of the world economy, through to global cultures, societies, and the environment.

    “Based on the requirements and pain points of enterprise network management efficiency, connection experience, data center (DC) security, and computing power, we have rolled out a new series of advanced solutions for to simplify these networks, with which DCs can build a solid network foundation, leading to the development of new DCs, and unleashing digital innovation”, he said.

    Wang’ added that digital technology is the right way to help industries go digital. Huawei, he noted, will focus on connectivity, computing, cloud, and other digital technologies. The firm will also continue inspiring innovation to drive industry digital transformation as organizations across the African continent deepen their investments in data centers and cyber security, with available statistics showing that it could reach Ksh 500 billion by end of 2026.

    With connectivity remaining crucial to digitalization and networks central to connectivity, the company will work with enterprises to build intelligent cloud-networks with cloud-network synergy, simplified architecture, and energy-saving features, thereby maximizing digital productivity and creating the ultimate experience.

    The new solution includes a smart campus which is designed to redefine campus networks and a Next-Generation enterprise flagship core switch called CloudEngine S16700. Others are an Easy Branch, the industry’s first simplified hyper-converged branch solution and Single Optix, the first end-to-end optical service unit (OSU) product portfolio.  

    The new range also includes the industry’s first multi-layer DC ransomware protection solution powered by network-storage collaboration, the industry’s first unified DC DR product portfolio featuring storage and optical connection coordination (SOCC),and CloudEngine 16800-X, which is the industry’s first DC switch designed for diversified computing power.

    For SMEs, Huawei also launched OceanStor Dorado 2000 and OceanProtect X3000, which are the industry’s first entry-level storage combination based on the active-active architecture.

    Through these solutions, government offices will get more efficient, and offer a better user experience for public services.

  • Senators issues a plea note for foreign investors in Kenya

    Senators issues a plea note for foreign investors in Kenya

    After the Chinese government breaking the silence over the controversy surrounding China Square saying it hopes the bone of contention is resolved soon, Senators led by Hon Simon Kiprotich Cherargei has issued a statement that Kenya is a signatory to a number of Multilateral and bilateral trade investment and a member of World Trade organisation and other several trade arrangements in Africa and the world.

    Hon Cherargei has pleaded with the Ministry of Trade and Industrialization to have structured engagement with the investors tonsolve the surrounding matter without hurting the business.

    ” it’s my humble pleasure to the ministry of Trade and Industrialization to have a structured engagement with the investors to solve the matter without hurting the business of both local and foreign investors since Kenya has a policy enabling an equitable no-bias business environment for trade and investment in the country.”

    During the address,  Mumias East legislator, Hon Peter  Salasya has said that China Square should be re-opened and work for Kenyans to improve the economy because it’s affordable place for shopping.

    Finally, Hon Kiprotich has called the government to engage and protect the legitimate rights and interest for local and foreign investors in a harmonious way.

  • Allow Chinese to operate in Kenyan, China Kenya Investment Group

    Allow Chinese to operate in Kenyan, China Kenya Investment Group

    China Kenya Investment group has defended the China role in boosting trade, investments, and shifting geopolitical ambitions amidst the ongoing concerns of Chinese infiltration of the Kenyan market by Chinese business people.

    Their sentiments come days after Nairobi traders, drawn from downtown centres, said the Chinese traders had driven them out of business, claiming they were offering goods at extremely low prices.

    According to China Kenya Investment group Chair Edward Waithaka the existence of Chinese in Kenya has cut out the middlemen who have been taking advantage of resellers and consequently increase profit margins to traders who had to ship their goods from overseas.

    The group which has been linking traders to the Chinese market says their operations n linking China to Africa by ensuring they are in full compliance with government policies has been replicated in many African countries and as a result consumers access products at low-priced hence saving on time and money.

    A sect of Kenyans have also echoed the group’s concerns citing that the Chinese are not in competition with Kenya’s and the closure of China square means 99% of employees who are locals have been rendered jobless at the expense of the interest of a few cartels.

    “Provided they are in full compliance with the law then no one should be kicked out of the consumer market share. With the existence of a physical shop Kenyans are able to purchase items they would buy online at a cheaper and have a variety to select from” says Ms. Dorothy Nyambura Nyamakima adding that she stopped exporting at a higher price since all what she wanted is found locally saving time and money.

    Her sentiments come a few a days after hundreds of traders held demonstrations in Nairobi’s central business district on Tuesday, February 28, citing infiltration of the Kenyan market by Chinese business people and subsequently forcing the temporary closure of China Square at Unicity Mall along Thika Road.

    The former Dagoreti South Member of Parliament aspirant has further asked the Trade Cabinet Secretary Hon. Moses Kuria to consider adopting sustainable solutions to the issues affecting these small-scale traders urging him to reconsider the cancellation of China Square lease on grounds that its competing small traders.

    “Along the streets of Guangzhou in China where I have lived for more than a decade, we have Kenyans who are retailing coffee and tea and competing with locals and we have never seen the Chinese demonstrating against infiltration. Provided the Chinese are in compliance same as the Kenyans in China and USA selling our local products then they should be allowed to operate” stated Hon. Waithaka alias Waa Waa.

    The past few years have witnessed an expanding Chinese population which has been market analysts say will accelerate with the Sino-Kenyan partnership.

    China Square opened on January 29, offering a range of household items, from kitchenware to furniture and hardware.

  • Engage Parliament for better laws, Speaker Kingi tells Kenya Private Sector

    Engage Parliament for better laws, Speaker Kingi tells Kenya Private Sector

    Speaker Amason Kingi has advised the business community to constantly engage parliament and ensure laws enacted are friendly to businesses.

    In the absence of such engagement, he note that there is a likelihood that laws passed will nor address the concerns of the people.

    “Through such engagements, we as the Senate shall harvest the technical knowledge that will enrich legislation andensures issues of concerns are brought to the fore and addressed,” said Speaker Kingi.

    The Speaker made the remarks on Wednesday during a meeting with the leadership of the Kenya Private Sector Alliance (KEPSA) led by its chairperson Florah Mutahi.

    The Alliance is the umbrella body of private sector actors , bringing together local and foreign business associations, federations, Chambers of commerce and professional bodies.

    In the last 10 years, the office of the Speaker of the Senate has organised Speaker’s round-table, a series of high level institutional dialogue to deliberate on contentious issues and build working relationships across various stakeholder groups involved in devolution.

  • Huawei becomes first firm globally to use 5G in Diamond Mining

    Huawei becomes first firm globally to use 5G in Diamond Mining

    Huawei has made history and stretched its innovation streak to mineral extraction by using 5G technology to smartly connect all the equipment.

    Making the announcement at the ongoing 2023 edition of the Mobile World Congress, Xu Jun, Chief Technology Officer of Huawei Mine BU, said that the company is using its strengths in ICT technologies like 5G, cloud, AI, and IoT to develop smart mine solutions that are based on an industrial Internet architecture for customers in the mining industry worldwide. These solutions make mine production safer, more efficient, and more intelligent.

    In this instance, Botswana’s Debswana and Huawei jointly established the world’s first 5G-oriented smart diamond mine. Located in Jwaneng, it uses hardware equipment including base stations for a holistic digital transformation solution designed to support network upgrades to 5G cutting-edge technologies like autonomous driving.

    Debswana’s Head of Information Management Molemisi Nelson Sechaba explained that the new private network solution developed by Huawei provides stable connectivity for the company’s Jwaneng mine, connecting more than 260 equipment, including drilling rigs, excavators, heavy trucks, and pickup trucks. This enables interconnection between the mine’s production, safety and security systems.

    “Previously, our company had a system that had limited coverage, used public wireless frequencies and had less robust anti-interference capabilities. As a result, the mine’s different types of data could not be transferred stably in real time,” said Sechaba.

    According to Debswana, building on the success of the project in the Jwaneng mine deployed together with Huawei and Botswana local companies, in line with Botswana’s citizen economic empowerment program, the company plans to also deploy the smart mining solution in its Orapa, Damtshaa, and Letlhakane mines in 2023.

    Hon. Thulagano M. Segokgo, Botswana’s Minister of Communications, Knowledge and Technology commended the development, stating that

    Liao Yong, Vice President of Huawei Sub-Saharan Africa Region, added that being an economic backbone of several Sub-Saharan African countries meant that mining plays a significant role in their overall social and economic advancement.

    “We are expanding the degree of local partnership to accelerate mining digital transformation and create more value across the continent,” he noted.

  • Kenyan Private Investors Concentrate In Africa During Global Turmoil, With World’s Most Optimistic Outlook

    Kenyan Private Investors Concentrate In Africa During Global Turmoil, With World’s Most Optimistic Outlook

    Kenya’s wealthy fared better than the wealthy anywhere else in the world during the economic turmoil of 2022, retreating from international citizenships and foreign property in favour of Kenya and Africa as safe havens, according to the 2023 attitudes survey issued today with Knight Frank’s annual wealth Report.

    The world’s Ultra-High Net Worth Individuals (UHNWIs) saw their fortunes slahed globally by 10% last year on a cocktail of post-pandemic property price falls, soaring energy prices, falling stock markets, and surging inflation and interest rates. The wealthy in Europe were by far the hardest hit, due to russia’s invasion of Ukraine, suffering a fall of 17.3 percent in their fortunes.

    However, Africa’s UHNWIs saw the lowest losses, recording an overall drop of just 5 percent.

    Knight Frank’s Attitudes Survey of wealth managers also found that next to only Australasia, Africa delivered the highest proportion of clients who increased their wealth in 2022, at 64 percent, compared with the global average of 40 percent, and just 24 percent in the Americas.

    Liam Bailey, Global Head of Research and Editor-in-Chief of The Wealth Report at Knight Frank, said: “Nowhere in the world was immune from last year’s inflationary trends, or geopolitical risks. However, with the wealthy in Kenya and Africa less exposed to overseas property holdings and equity markets than HNWIs globally, their assets proved more resilient to the global disruption.”

    At the beginning of 2022, wealth managers reported that about 19 percent of the property portfolios owned by Kenyan HNWIs were held overseas, compared with an average of 32 percent of overseas holdings by HNWIs globally. In the year since, Kenyan HNWI’s overseas holdings have fallen
    further, to 11 percent, as they have actively exited foreign property markets.

    The stronger investment environment in Africa also combined with key changes to investor visas – including the UK’s closure of its Tier 1 investor visa scheme in February 2022 – to reduce the number of Kenyan HNWIs planning to apply for foreign citizenship, which fell to 11 percent in 2023, compared to 28 percent a year ago.

    Kenyan HNWIs favourite options for second home purchasing also shifted. Kenya remained the most popular choice, named as one of the top 5 locations by 60 percent of HNWIs, followed by the UK by 50 percent and US by 40 percent. Canada also increased in popularity, with 25 percent of the HNWIs including it in their top 5 locations. But, European locations Sweden, Denmark and Monaco disappeared from Kenyan HNWI’s top choices, while Egypt and Tanzania emerged as new entrants.

    Mark Dunford, CEO Knight Frank Kenya, said: “In this general pivot away from international exposure and towards investment in Kenya and Africa, Kenya’s HNWIs are also the most optimistic in the world, with 50 percent expecting their wealth to increase by more than 10 percent in 2023. This compares with just 21 percent of global HNWIs expecting rises of the same level.”