Kenya: Latest News
Dana Sanchez, 9:39 pm
At 17,057 feet, Mount Kenya gets less attention than its taller counterpart, Mount Kilimanjaro, but Africa’s second-highest mountain offers everything its bigger neighbor does, and then some. The area around the foothills is emerging as a hot spot for residential and commercial real estate. The focus of Mount Kenya Wildlife Estate is the wildlife, with houses clustered around waterholes and salt licks, and views of the Mount Kenya. The development consists of 100 holiday homes on 1,000 acres. Most houses have sold for $330,000 each.
Kevin Mwanza, 5:35 am
Dangote Cement temporary shut down operations in its Mtwara plant in Tanzania last week, raising fears that the firm may be forced to exit the market, its only operational plant in the East African region after it closed its Ethiopian plant in October and it’s Kenyan foray failed to take off. The company attributed the Tanzanian plant closure to technical issues, even as sources privy to the government said Dangote Cement was caught up in political infighting.
Dana Sanchez, 10:46 am AFKI Original
Currency depreciation and rising inflation have made investing a challenge in some African countries. A global private-sector development group identifies four African countries that have potential for climate-smart investment. These investments will make energy more accessible and infrastructure more resilient as climate change threatens to undermine developmental gains. South Africa is ahead of the game. With 90% of its electricity from coal, SA has approved 79 renewable energy projects by independent power producers. The cost of wind and solar has decreased more than 70%, and is now competitive with new-build coal, IFC reported.
Kevin Mwanza, 8:44 am
Foreign investors in Tanzania are considering pulling out of the nation or expanding operations into other countries due to higher taxes introduced by President John Magufuli in efforts to drive the economy by cracking down on revenue evasion and corruption. Magufuli’s government has already increased taxation on mobile money transfers, banking, and tourism and cargo transport service providers.
Ann Brown, 8:12 am AFKI Original
A survivor of the Rwandan genocide, entrepreneur Marcel Mutsindashyaka chose to use the media, not for revenge, but for peace building. His Rwandan media and IT company has helped restore unity in the country by engaging youth. It is now the second most popular news website in Rwanda. Mutsindashyaka was chosen to be in Obama’s Young African Leaders Initiative. The experience “opened my mind from local to global perspective,” he told AFKInsider. “From this I realized that there is potential for the U.S. and Africa to collaborate for mutual benefit.”
Dana Sanchez, 3:56 pm
Donald Trump’s election could not have been better news for the economic and political ambitions of China. Suddenly, all roads lead to China from Africa, Europe, most of Asia and most of South America. African manufacturers could profit from China’s growing power, but that may have more to do with rising labor costs in China than it has to do with retreating U.S.-Africa trade. Manufacturing salaries are rising fast in China, which is starting to outsource production to other countries. China has become a victim of its own success.
Kevin Mwanza, 9:29 am
Little Cab, a taxi-hailing app owned by Nairobi-based technology firms, Craft Silicon, and East Africa’s biggest telecommunication provider, Safaricom, plans to expand its operations to Uganda and Nigeria as it intensifies its market battle against the dominant U.S.-based taxi-haling firm, Uber. The decision is likely to change the app’s fortunes, whose increase in customers in Kenya has not led to a rise in its earnings
Tom Jackson, 6:56 am AFKI Original
A recent McKinsey report on “digital globalisation” found flows of data and information now generate more economic value than the global trade in goods. Essentially, this means that an industry that did not exist 15 years ago is now bringing in more value to a country’s Gross Domestic Product (GDP) than the centuries-old trade in goods. That is quite something.
Staff, 7:13 am
Nearly 100 million people are now on the first steps of the energy ladder thanks to the rapid deployment of solar home systems in poor communities across the world. That’s incredible progress that marks the beginning, not the end, of clean energy access. With increasing attention being paid to the missing middle excitement about the opportunity to end energy poverty is palpable.
Dana Sanchez, 2:06 pm
McDonald’s opened its first burger and fast-food restaurant in South Africa in 1995, and now has more than 200 stores. Chinese mobile messaging app WeChat is trying to compete with Facebook-owned WhatsApp, which dominates in SA, by collaborating with large merchants like McDonald’s. Customers can now pay at McDonald’s using mobile payments at some locations. WeChat is dominant in China, where 200M-plus use its mobile payment platform. Mobile payments have not caught on in SA like they have in China or Kenya.
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