Renewables up, fossil fuel stocks down

2015 was a landmark year for climate action. Its many highlights were topped by a Paris agreement where 195 countries set themselves on a low-carbon path via economy-wide plans sure to be developed and strengthened every year. In the meantime, climate chaos continues to build: 2015 was the warmest year of the warmest decade since we started recording temperatures. 2016 is forecast to be even warmer. The number of climate refugees are swelling and everywhere popular movements.... Read more »

Posted on : Wednesday , 6th January 2016

The U.S. Ready to Invest Sh2.4 Trillion in Kenyan Oil Industry

 The American Government Tuesday expressed interest in funding construction of an oil pipeline linking northern Kenya oil fields to Lamu, upping its stake in the Lappset project.   Initially designed and planned to be funded by Chinese, the US says it is ready to invest in the Sh2.4 trillion project to open up northern Kenya and link up landlocked South Sudan and Ethiopia to the Lamu port.   US Ambassador to Kenya, Mr Robert Godec, said his government would help.... Read more »

Posted on : Wednesday , 6th January 2016

Upcoming High-Speed Rail Will Be an Economic Boost to Kenya

With the laying of rail tracks set to be complete by December, the completion of the Standard Gauge Railway is going to be one of the big stories this year. The modern railway is expected to open to first commercial traffic in June 2017.   Transport CS James Macharia is already sounding optimistic, lauding the progress made so far and noting that big impact on the economy will be recorded this year even as the tracks are laid on the 500-kilometre railway. "The laying.... Read more »

Posted on : Wednesday , 6th January 2016

China Keen to Boost Cooperation With East Africa in Infrastructure

Chinese Vice Foreign Minister Zhang Ming said Tuesday China is keen to strengthen cooperation with Ethiopia in the infrastructure development and transportation sector. Zhang made the remarks after he visited the Addis Ababa Light Rail Transit constructed by the China Railway Group in the capital of the East African country. Zhang said infrastructure development and transportation sector are among the various fields China and Ethiopia are cherishing. Reiterating the two countries have.... Read more »

Posted on : Wednesday , 6th January 2016

Sh1.2 Billion Lighting Project Boosts Business in Mombasa

The Mombasa County government and Kenya Power have finished lighting up the town at a cost of Sh1.2 billion in an effort to woo investors and revitalise tourism industry through the Mwangaza Mtaani project.   Started in September last year, the street lighting programme, involved upgrading of the electricity network in the coastal town and installation of high mast lights in major streets including public beaches.   During the just concluded festive season, visitors to.... Read more »

Posted on : Tuesday , 5th January 2016

East Africa: AfDB Approves $138m for Rusizi III Hydro Project

The African Development Bank (AfDB) has approved $138 million in loans and grants to finance the Rusizi III hydropower plant project.   A statement from the AfDB indicates that the implementation of the project will be carried out at a total cost of $625.19 million. At least $138.88 million will be borne by the AfDB's public sector window and $50.22 million by the private sector window.   Rusizi III hydropower plant is part of the Programme for Infrastructure Development.... Read more »

Posted on : Tuesday , 5th January 2016

Nigeria: Ipman Partners UK Firm to Build Two Refineries in Plateau

Jos and Daniel Adugbo, Abuja — The Independent Petroleum Marketers Association of Nigerian (IPMAN) has concluded arrangement with two British oil companies to build two modular refineries in Plateau State.   The National Secretary of PMAN, Alhaji Danladi Pasali, who disclosed this to newsmen yesterday in Jos, said the decision was taken following the return of peace and the change in the political and economic atmosphere in the state.   Pasali said, "We have.... Read more »

Posted on : Tuesday , 5th January 2016

Kericho Seeks More Earnings From Pineapples, Sweet Potatoes

Your administration has launched a legal process against Britain for compensation of the Kipsigis and the Talai for their land now under tea. Won't the move disrupt the multi-billion tea sector?   This case is not targeting the tea estates and our investors should not worry.   We are addressing appalling events that occurred nearly 100 years ago whereby our people were thrown into difficult circumstances when the British took away their land.   The victims still.... Read more »

Posted on : Tuesday , 5th January 2016

Kenya's Business Community Is Optimistic About the Future

 Trade is growing in the entire region, including Kenya. Kenya's GDP is approximated to hit 15% by the turn of the year. With the recent tripartite agreements that our African presidents have signed, markets in South, East, West, and North Africa will begin to harness their energy towards intra-continental trade.   This is good news to the region's people as they can benefit from expanded market opportunities. Opening up former continental market blocs will mean that.... Read more »

Posted on : Tuesday , 5th January 2016

Africa: WTO Members Secure a Package for Africa

 Members of the World Trade Organisation (WTO) concluded their tenth ministerial conference in Nairobi recently by securing an agreement on a series of trade initiatives.   The Nairobi package contains a series of six ministerial decisions on agriculture, cotton and issues related to least-developed countries such as Uganda.   A centrepiece of the Nairobi package is a ministerial decision on export competition, including a commitment to eliminate subsidies for farm.... Read more »

Posted on : Tuesday , 5th January 2016

Kenya and Uganda plan to build another corridor to boost trade

 Kenya and Uganda plan to build another corridor to boost trade between the two East African countries.   Uganda National Roads Authority and the Kenya National Highways Authority are seeking funds from the African Development Bank (AfDB) for the project which will traverse Uasin Gishu County and to the west of the boundaries of Eldoret, Trans Nzoia.   The proposed road project dubbed multinational Uganda and Kenya: Kapchorwa - Suam - Endebess - Kitale - Eldoret.... Read more »

Posted on : Tuesday , 5th January 2016

Ethiopia, Egypt, Sudan Announce Consent in Applying GERD Principles

The agreement is a step forward towards finalizing and reaching agreement on the nomination of the two consultancy firms.   Ethiopia, Egypt and Sudan announced Tuesday that they have reached consensus to put into practice provisions in the Declaration of Principles regarding the Grand Ethiopian Renaissance Dam (GERD).   The three parties have reached an agreement on the consultancy firms which would conduct the technical studies on GERD, noting that the French Artelia.... Read more »

Posted on : Monday , 4th January 2016