insert_link Local ATIDI underwrites Globeleq’s USD 117 million geothermal power project in Kenya Nairobi-based pan-African insurer, African Trade and Investment Development Insurance (ATIDI) has provided a political risk insurance cover for Globeleq's 35 MW Menengai Geothermal power project in Kenya. This support will be extended via the Regional Liquidity Support Facility (RLSF) - a joint effort by ATIDI, KfW Development Bank, and the Norwegian Agency for Development Cooperation (Norad). It helps renewable energy Independent Power Producers (IPPs). The project, the first to […] todayJuly 1, 2024 7
Africa Africa’s green bond market is booming – report By Bonface Orucho, bird story agency Green bonds are experiencing robust growth in Africa as governments, corporations, and financial institutions recognize their potential to fund sustainable projects. A new report shows green bond issuances in Africa jumped 125% last year, hitting US$1.4 billion from US$600 million in 2022. The report, ‘Emerging Market Green Bonds’ by the International Finance Corporation and Amundi, a European asset manager […] todayJune 3, 2024 11
insert_link Environment Agriculture Minister attends Clean Cooking Summit in Paris The Minister of Agriculture, Water, and Land Reform, Minister Calle Schlettwein attended the Clean Cooking in Africa Summit in Paris, where they held talks about "Catalysing Multi-stakeholder Partnerships" during a plenary session. The International Energy Agency, which is a co-host of the summit, said a lack of progress in clean cooking, with nearly four in five Africans still using polluting fuels and traditional stoves remains a concern. Here is Minister […] todayMay 15, 2024 16
insert_link Africa Climate change could cost Africa billions by 2030 Africa currently loses between $7 billion and $15 billion a year because of climate change. If that trend continues, African Development Bank President Akinwumi Adesina tells the Zero podcast, that number could reach $50 billion by 2030. That’s why Adesina is focusing the bank’s efforts on financing climate adaptation, which he describes as the “forgotten cousin” of climate mitigation. todayMay 2, 2024 21
insert_link Africa Africa‘s most populous countries eye private investors to tackle housing challenge By Conrad Onyango, bird story agency A wave of government housing policies is set to change the urban landscape across the continent, in line with a report from the African Development Bank (AfDB). “The public sector is recognizing the link between housing and economic growth, and that not only can good housing contribute to the twin goals of economic growth and poverty alleviation, but that the opposite […] todayApril 9, 2024 7
insert_link Africa Africa is fueling India’s economic ambitions By Bonface Orucho, bird story agency India is growing its investment and nurturing diplomatic alliances with a range of countries in Africa, recognizing the continent as a key component in its pursuit of superpower status. In the latest move, Ethiopia’s ambassador to India disclosed to The Print, an Indian news outlet recently, that the two countries are “in the final stages of clinching defence cooperation.” This is just […] todayMarch 20, 2024 6
insert_link Africa Nigerian workers plan cost-of-living strike Nigerian labour unions will embark on a two-day strike on Tuesday against the spiralling cost of living. According to the BBC, inflation in Africa's largest economy is at almost 30% whilst the local currency, the naira, is rapidly depreciating. Electricity shortages are compounding the hardship. The African Development Bank has warned that conditions are ripe for social unrest. todayFebruary 27, 2024 2
insert_link Africa African Development Bank warns of social unrest in Nigeria The African Development Bank, ADB says rising prices of food and petrol could lead to social unrest in the country. todayFebruary 19, 2024 8
insert_link Africa COP28: Africa could lose $25 billion per year as new EU carbon tax comes into effect, warns African Development Bank’s Adesina African Development Bank Group President Dr Akinwumi Adesina has warned that a new EU carbon border tax could significantly constrain Africa’s trade and industrialization progress by penalizing value-added exports including steel, cement, iron, aluminium and fertilizers. Adesina said, “With Africa’s energy deficit and reliance mainly on fossil fuels, especially diesel, the implication is that Africa will be forced to export raw commodities again into Europe, which will further cause de-industrialisation of […] todayDecember 7, 2023 6
Paying it forward: Kenyan coastal doctor Bashrahil Mohammed Mafudh has made it his life’s work to care for the most vulnerable in his community, at no cost.
