Kenya Economy – Mombasa Info http://mombasainfo.com/ Mon, 24 Jan 2022 16:16:37 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://mombasainfo.com/wp-content/uploads/2021/06/icon-3.png Kenya Economy – Mombasa Info http://mombasainfo.com/ 32 32 International Day of Education – From Kenya to Cameroon, students at the Nigerian institute find the root of Stem success https://mombasainfo.com/international-day-of-education-from-kenya-to-cameroon-students-at-the-nigerian-institute-find-the-root-of-stem-success/ Mon, 24 Jan 2022 16:16:37 +0000 https://mombasainfo.com/international-day-of-education-from-kenya-to-cameroon-students-at-the-nigerian-institute-find-the-root-of-stem-success/

Dancan Onyango left Kenya in 2017 to study at the Life and Earth Sciences Institute at Pan African University in Nigeria and is now the proud holder of a PhD in Environmental Management. After graduating from the institute last May, he returned to Kenya to take up a position as a project manager and senior environmental protection officer at an engineering management and development consultancy.

“You see how it is possible for young people to work hard to make ends meet in very difficult economic conditions in Africa’s largest economy. Most of us took home these great Nigerian lessons,” he said of his time at the institute. housed at the University of Ibadan in Nigeria.

The 33-year-old is one of more than 400 graduates with a master’s or PhD degree from Pan African University’s Life and Earth Sciences Institute, which provides young Africans with the skills and certifications necessary for a successful career in science, technology, engineering and mathematics – also known as STEM. The institute is funded with US$8 million in grants from the African Development Bank and an unspecified amount from the African Union Commission, and has 605 students from 45 African countries.

Institute officials say more than a third of the student body are women, part of an effort to transform educational opportunities across the continent. The number of women in STEM subjects in Africa is “shocking,” says Professor Esther Akinlabi, director of the institute.

“The statistic of students taking STEM-related courses is still very low globally — less than 20% in most parts of the world. On the African continent, the number is even worse. Yet technological development and global prosperity depend on the human ability to do so in the fields,” she said.

To change the educational pathway to encourage African youth to embrace STEM, the institute conducts seminars for secondary school students at its incubation center of excellence, operated by Co-Creation Hub, a Lagos-based technology company. The seminars introduce students to 3-D remodeling, robotics, and interactive systems that can sense and respond to the world around them.

Ten-year-old participant Michael Oladunjoye said he found out about the STEM seminars through social media. “It raised students’ awareness of activating their creative talents and encouraged them to pursue a career in STEM,” said Oladunjoye.

The Pan African University Life and Earth Sciences Institute, also known by its acronym PAULESI, could not have found a better home than Nigeria. The country is a technology hub in West Africa, and the Economic Community of West African States, better known as ECOWAS, has selected Nigeria in the competition to have one of its key universities host the institute. The institute’s bank funding, one of five under the Pan African University, and the bank’s collaborations with development partners like Microsoft and the Government of Nigeria are transforming education by equipping more youth with relevant STEM skills for decent jobs.

Marykathleen Tambeayuk, 29, who has a PhD in environmental management, says her career goal before enrolling at PAULESI was simple – to provide sustainable solutions to the environmental problems in her country, Cameroon.

“PAULESI not only equipped me with the necessary knowledge to achieve my career goal, but also broadened my perspective on how this could be achieved by introducing me to the importance and influence of research in achieving positive change in my field” , she said.

The best thing about studying at the institute is the courses with lecturers from all over Africa, she said. “[They] showed us the situation in other African countries through the eyes of those we wanted to emulate professionally,” she added.

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Inside Mudavadi’s closely guarded secret before the earthquake announcement https://mombasainfo.com/inside-mudavadis-closely-guarded-secret-before-the-earthquake-announcement/ Sun, 23 Jan 2022 07:21:30 +0000 https://mombasainfo.com/inside-mudavadis-closely-guarded-secret-before-the-earthquake-announcement/

Amani National Congress (ANC) party leader Musalia Mudavadi will make a major announcement in the Bomas of Kenya on Sunday 23 January.

In his recent addresses to the media, the former vice president explained that his announcement would set off a political tremor and send shockwaves across the country.

As political pundits point to the start of his presidential bid, the ANC party leader has kept his cards close to his chest, leaving Kenyans in doubt as to which statement he is most likely to make.

ANC leader Musalia Mudavadi addresses parishioners at Quakers Friends International Church, Nong Road on Sunday, November 14, 2021.

Twitter

Musalia Mudavadi

Nonetheless, in the days leading up to the Mudavadi’s big day, some members of the ANC party have given a hint of what Kenyans can expect.

According to the party’s general secretary, Simon Kamau, the former vice president will publish his five-point manifesto.

“We will publish our manifesto, which rests on five pillars: a better economy, better decentralization, better relationships, better governance and a better economy,” he revealed.

On the other hand, Kakamega Senator Cleophas Malala claimed that his party leader will reveal his newfound political allies

“Not only will we launch Mudavadi’s presidential campaign, we will also expose his political allies. All Kenyans of good will and those who share our political ideology are invited,” the Senator said.

ANC invited more than 6,000 delegates to attend the event. In particular, they left out their competitors, including other co-principals of the One Kenya Alliance (OKA); Kalonzo Musyoka from Wiper, Moses Wetangula from Ford Kenya and Gideon Moi from KANU.

The party official explained that the co-chairs would only be allowed entry to the event if they declared their support for a Mudavadi presidency.

“We made it very clear, OKA will only make sense if the presidential nominee is none other than his ‘earthquake, Musalia Mudavadi,” declared the secretary general of the party.

Malala clarified that Deputy President William Ruto, who knocked on Mudavadi’s door, is also not invited.

“We didn’t invite our competitors. This NDC is only for the ANC and its political friends.

“Being aware of the fact that we are going into battle, we need to prepare enough to deal with our opponents. Therefore, we cannot invite the same competitors to our strategy meeting,” emphasized Malala.

Meanwhile, ahead of the big announcement, ANC released a video:

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RegTech Africa Conference on driving growth and shaping the digital economy https://mombasainfo.com/regtech-africa-conference-on-driving-growth-and-shaping-the-digital-economy/ Fri, 21 Jan 2022 15:41:45 +0000 https://mombasainfo.com/regtech-africa-conference-on-driving-growth-and-shaping-the-digital-economy/

The first edition of the annual Regtech Africa Conference is scheduled to take place on Wednesday 25th May 2022.

the RegTech Africa Conference is the premier gathering of regulators, innovation ecosystem developers, investors, businesses and government officials to engage, collaborate and share knowledge on emerging technologies and practices that support better regulation.

The conference with the topic “REGULATORY INNOVATION: STRENGTHENING AFRICA’S ROLE IN THE WORLD ECONOMYwhich will act as a very good catalyst for the African digital economy – with a high commercial and economic value – will be driven by outstanding Advisory Board members with a common purpose and a proven track record in promoting innovative regulation across Africa.

With an extensive line-up of 50+ inspirational speakers targeting 1,000+ attendees in 75+ countries, the two-day virtual conference provides the perfect platform with the power to impact change.

The conference will leverage experiences, insights and tools from diverse global players in relation to vendors/tech companies, governments, academia, regulators and the private sector.

The conference agenda brings together eight core themes with an emphasis on live case studies, information sharing, focused pitch deck on solutions to real challenges and innovative insights; all curated after extensive market research and feedback from key industry stakeholders.

Commenting on the execution strategy, Joy Dieli (Chief Growth Officer, RegTech Africa) said: “We have diverse and cost-effective packages to ensure participation with assured ROI, including speaking slots and virtual exhibition booths to create a high impact. We also offer tailor-made packages that best suit the needs and budget of the organization.”
Participating organizations will have an excellent opportunity to interact with a high audience in the industry, enabling them not only to lobby for their interests, but also to network and tap into the resources available in Africa. The event aims to strengthen networks between African regtech companies with their diverse peers worldwide by sharing knowledge and technology to bridge gaps and share opportunities, and encourage greater local participation in research, innovation and skills development programs .

Cyril Okoroigwe, CEO of RegTech Africa, continued: “We believe in the transformative power of INNOVATIVE REGULATION as a force to drive growth and shape a thriving digital society. The RegTech Africa Conference aims to achieve this by creating a better world for Africa and Africans.”

To further the conference’s broader goal of improving quality and strengthening the ecosystem, the Advisory Board was recently inaugurated.
Advisory Board members are accomplished industry leaders with shared goals and a proven track record of promoting innovative regulations across Africa, responsible for providing high-level guidance and direction to improve the overall quality of conference planning and delivery.

The announcement comes at such a crucial time as the world slowly recovers from the effects of the pandemic, which has significantly accelerated digitization, making it a priority for regulators and operators to reconsider and adapt to new strategies.

The founding members include:
Osioke Ojior is a respected cybersecurity leader and technology executive with global management consulting experience focused on technological innovation for economic development. He was chief cybersecurity officer for a US public health agency and national security company; was head of technology at a large US consulting firm; before holding senior positions at the leading pan-African fintech company and the national payment system for Africa’s largest economy.
Chuma Qwalela is an experienced CEO leading truly impactful programs in the public, private and not-for-profit sectors. She led the implementation of the Prudential Authority program at the South African Reserve Bank and was subsequently Head of Strategy and Change at the Johannesburg Stock Exchange (JSE).
Portia Ndlowu brings extensive experience in legislative reform strategy and implementation and is responsible for enforcing securities laws at the Securities and Exchange Commission of Zimbabwe. She also worked at the Zimbabwe Prosecutor’s Office drafting legislation and advising ministries and government agencies on legislation.
Kojo Dougan is a highly experienced Business Operations & Strategy Executive with a passion for skill development, mentoring and a proven work experience in the information technology and services industry. As a member of GARIA (Ghana Association of Restructuring & Insolvency Advisors), Kojo played a key role in making the Ghana South Africa Chamber (GSABC) profitable within 3 years (2016-2019) and winning over Interpay, a Ghanaian fintech, for the acquisition position a US company in 2018.
Arnold Karanya is a respected legal practitioner based in Kenya with expertise in the areas of data protection compliance, digital mergers and acquisitions, anti-money laundering, betting and gambling regulation. He represents and advises Global Systemic Important Financial Institutions (G-SIFIs) on emerging technical regulations and standards. Arnold is EU-GDPR certified by the International Board for IT Governance Qualifications (IBITGQ).
Nolwazi Hlophe is a recognized leader in the theory and application of financial regulation and supervision, capacity building, partnerships and designing customer experiences that increase efficiency and shape customer behavior. Nolwazi previously worked for Cenfri and the Central Bank of Eswatini and is currently Associate Director of Financial Regulation and Oversight at Digital Frontiers. She is the financial regulation lead for the Certified Digital Finance Practitioner (CDFP) for the Anti-Money Laundering Compliance, Digital Identity, Regulation in Digital Financial Services, and Regulating and Governing IIP Systems courses in the Instant and Inclusive Payments (IIPS) program.

“The Advisory Board brings world-leading expertise to achieve the broader goals and this lends credibility to our efforts to organize a world-class conference. We are very fortunate to have such a distinguished group of amazing and diverse professionals. We look forward to working closely with them as we continue to execute on our strategic corporate goals,” said Cyril Okoroigwe, CEO of RegTech Africa.

According to him, “These highly experienced individuals bring unparalleled expertise in driving digital innovation and we are pleased that they see that our vision is both feasible and an important step forward for the future of innovative regulations. As such, they will be a crucial part of our work to restore trust and transparency between regulators and the regulated.”
For registration and partnership opportunities please visit www.regtech.africa or email info@regtechafrica.com.

About
The Regtech Africa Conference is a social enterprise initiative by RegTech Africa focused on promoting innovative regulatory technology as a force for public good.

]]> Government calls for cooperation to achieve food safety – Kenya News Agency https://mombasainfo.com/government-calls-for-cooperation-to-achieve-food-safety-kenya-news-agency/ Thu, 20 Jan 2022 09:02:33 +0000 https://mombasainfo.com/government-calls-for-cooperation-to-achieve-food-safety-kenya-news-agency/

National and regional governments are committed to working with intergovernmental organizations, farmers and private stakeholders for the thriving of the agricultural sector, the backbone of Kenya’s economy.

During the Fourth Intergovernmental Forum on Agriculture in Mombasa, Cabinet Minister for Agriculture Peter Munya said that the country is still lagging behind in terms of food security, which is why cooperation needs to be strengthened to achieve a modern agricultural sector that has a 100- percent nutrition supports safety.

Munya said that the transformation of the sector requires the widest possible stakeholder participation, which will provide an opportunity to reflect on the transformation of the sector.

“We still have some gaps to fill to reach our goals. The sector is struggling with drought, locust invasion and the pandemic. By taking appropriate and timely action, we can achieve our goal. The United Nations Food System Summit demonstrated our commitment to making food security a reality. I therefore encourage stakeholders to consider all findings when supporting our collaboration,” Munya said.

Part of the participants follow the proceedings during the 4th Intergovernmental Forum on Agriculture at the PrideInn Hotel, Mombasa. Photo by Andrew Hinga

The CS said the e-voucher system introduced by the government has seen changes in the way agricultural government subsidies are distributed.

He noted that there is also a notable government approach to scaling data and digital technology to increase agricultural productivity.

“We also initiated the strategic food reserve reforms through the digital data platforms. From the 3rd IGF one of the decisions was the introduction of a youth strategy; We’ve rebranded the 4K clubs for investment and business,” Munya added.

He commended the President for taking a major step towards improving the sector by including food security as one of the Big Four agenda.

Munya encouraged the private sector to get involved in the collaboration and said there is still a long way to go.

“The key challenges we need to address are climate change by taking various interventions and mitigation measures, working with our livestock farmers to change their attitude to how they treat their animals during the drought season, solving the problem of quality fertilizers and animal feed and getting young people interested in farming by making it seem like a business,” Munya said.

The Chairman of the Board of Governors’ Committee on Agriculture (COG), Dr. James Nyoro, who is also the governor of Kiambu County, said the counties have agreed to allocate at least 10 percent of the budget to improving food security systems.

Nyoro also said COG is committed to ensuring the country has a gross domestic product (GDP) that is largely driven by agriculture.

“The problem is that we have an increase in people living below the poverty line due to a lack of growth in agriculture and manufacturing. By putting more money into agriculture, intrastate and interstate coordination will help transform the sector,” he said.

Nyoro said COG has urged development partners not to fund areas where national and regional governments appear to have competing or dual roles.

“Those jurisdictions that have done well on agri-food conversion include the monitoring and evaluation aspect. It’s important that we hold people accountable for the money we’ve given them. We should be responsible for telling people about the resources put into farming, how far they have come and what progress is being made,” he said.

He added that progress in bridging the gap between food production and consumption is noticeable.

“But we still have a long way to go, the gap is still large. We import staple foods that could be produced in the country. The government should ensure these gaps are filled as the population is also increasing,” Nyoro said.

The governor said COG favors a major overhaul of the farm sector. He said the council is pushing for the shift of subsistence practices to commercial farming systems.

“We also need to agree that for the sector to thrive, we need to have standards of an international nature. We should also have our destiny to say where we are going in terms of improving the sector. We still have a long way to go in terms of cash crop competitiveness,” he added.

By ChariSuche

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The climate crisis needs to be “humanized” to spur more action https://mombasainfo.com/the-climate-crisis-needs-to-be-humanized-to-spur-more-action/ Tue, 18 Jan 2022 14:07:40 +0000 https://mombasainfo.com/the-climate-crisis-needs-to-be-humanized-to-spur-more-action/

EXCLUSIVE: Elizabeth Wahuti, the Kenyan activist who delivered an impassioned speech to world leaders at COP26, believes business and society must “open their hearts and listen” to communities already experiencing the worst of the climate crisis , to help make informed decisions for the benefit of society at the next world climate summit.

Image: UN climate change

COP26 hosted negotiations for world leaders in Glasgow last November. Some of the world’s most powerful decision makers spent more than two weeks at the summit to thwart the Glasgow Climate Pact.

However, one of the highlights of the two-week summit, which went viral on social media, was a speech by 26-year-old Elizabeth Wahuti, who took to the main stage to encourage leaders to “have the grace to listen fully.” . on her story and the impact of the frontline climate crisis she is experiencing in her home country of Kenya.

With the dust still settling on the Glasgow Climate Pact (and some nations already rejecting statements on fossil fuels), edie spoke to Wahuti to get her take on the results of COP26 and what needs to happen in the run-up to this year’s climate summit, to take place in Egypt.

“One of my highlights from COP26 was seeing the energy coming out of the Blue Zone from young people, civil society organizations and indigenous communities trying to put pressure on what was happening inside,” Wathuti told edie.

“I think we need that push from the people who understand what is happening and who really believe strongly that there is so much that needs to be done to address the climate and the ecological crisis. So it was great to see so much solidarity from outside in the form of marches and protests, especially the engagement of the Global South, because these people are the hardest hit by the crises.”

Wahuti claimed that the Glasgow Climate Pact, which was finally agreed after negotiations were extended until the second weekend of the summit, had “some strength”, namely the discussions about losses and damage and that fossil fuels were mentioned in the final document, albeit diluted by draft texts.

The activist, who founded the NGO Green Generation Initiative, which runs tree-planting programs in Kenya, expressed hope that nations would be asked to rigorously review their climate action plans, which Wahuti said is crucial to keeping the climate crisis high on the political agenda.

Under the Glasgow Climate Pact, nations are committed to formulating and publishing updated Nationally Determined Contributions (NDCs) to the 2030 Paris Agreement by the start of next year’s COP27 in Egypt.

These nations should strive to align their climate goals and plans with a 1.5°C temperature path, the text says. Some nations had pushed for this to be a requirement, others for it to be omitted entirely. In the end, the document states that the UN will “take into account different national circumstances”. Nations like China, South Africa and Indonesia have said they will likely need more time. There is also an agreement that nations will start developing NDCs by 2039.

Social justice is climate justice

With the next COP set to be an “African COP,” Wahuti believes communities experiencing the worst impacts of the climate crisis should have more representation at the discussions.

“We can’t really conclude that because COP is coming to Africa it’s an assurance that there is African representation because people like the G20 are still the ones who are taking the lead in negotiations,” Wathuti added.

“If this is an African COP, it should not just be because Africa is hosting the event, but because that is reflected in the people participating in the decisions and processes. Africa does not wait for the crisis. It is already affecting them and this needs to be reflected in discussions. You don’t have to watch from the sidelines. They must be included in their negotiations and their voices must count in the outcome.”

In fact, Wahuti, now UN Young Champion of the Earth and campaign manager for the Wangari Maathai Foundation, believes COP27 can act as an ideal event to ensure society also looks at the climate and environmental crises and social justice issues.

Much has been said about the need to ensure a “just” transition to net-zero emissions globally, but very few actionable steps have been taken to ensure all nations and sectors of the economy are equipped with the opportunities and capabilities , which they can enter low-carbon markets.

The Prince of Wales’s Terra Carta engagement is one of the few movements aiming to change that. The Terra Carta, translated as “Earth Charter”, which was launched in January 2021, calls on companies to do everything in their power to contribute to a just global transition to net zero by 2050 at the latest. It also includes commitments on labor rights, sustainable skills and nature.

Wahuti believes that Africa may be one of the drivers of the net-zero moves as many communities are currently responding to the climate crisis with innovative measures. Some organizations are already partnering with African smallholders to roll out training and infrastructure that improve climate adaptation and resilience on farms, and reports say the continent has “unlimited potential” for forms of clean energy. However, around $9 trillion is needed for emerging markets to meet two-thirds of their energy needs from renewable sources by 2050, according to an analysis by Bloomberg NEF (BNEF).

Therefore, Wahuti believes that all investments in sustainability across Africa must benefit society. She added that more needs to be done to make the climate crisis personal in other regions of the world, which in turn would inspire more action.

It’s really important that every single country really makes sure that we also address climate change as a social justice issue,” Wahuti said. “It’s about the people who have been hit hardest by the crisis when it comes to representation, the people on the front lines of the impact need to be on the front lines of these negotiations and the kind of outcome we’re getting is about those too to reflect the direct needs of the people who are facing the crisis right now.

“We must unite to humanize the climate crisis by opening our eyes and heart to the realities and then choosing to face them as they are. Every day that we don’t listen to the people on the front lines of this crisis, we won’t understand the extent to which the crisis is affecting people.

“Right now, people have an imposed duty to act because that’s what is being asked of them, but this has to become a natural cultural action, where people act passionately.”

Matt Mace

]]> Kenya Railways accountant charged with falsifying payslip and stopping deductions https://mombasainfo.com/kenya-railways-accountant-charged-with-falsifying-payslip-and-stopping-deductions/ Sun, 16 Jan 2022 21:04:27 +0000 https://mombasainfo.com/kenya-railways-accountant-charged-with-falsifying-payslip-and-stopping-deductions/

business

Kenya Railways accountant charged with falsifying payslip and stopping deductions


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summary

  • An accountant at Kenya Railways Corporation has been accused of changing the corporation’s payroll system, resulting in a Sh317,500 loss for the company.
  • Patrick Kareithi Ndegwa, charged with two counts of computer counterfeiting and fraud, allegedly used ID cards issued to him to stop his pay being deducted.

An accountant at Kenya Railways Corporation has been accused of changing the corporation’s payroll system, resulting in a Sh317,500 loss for the company.

Patrick Kareithi Ndegwa, charged with two counts of computer counterfeiting and fraud, allegedly used ID cards issued to him to stop deductions from his salary a few months after he was fined for another offense of gross misconduct involving the company lost money.

The court heard he committed the offense between July 2019 and November 2021 by willfully altering computer data in Kenya Railway’s payroll system.

In the second count, Mr. Ndegwa was charged with computer counterfeiting, contrary to the computer misuse and cybercrime sections. The indictment stated that he intentionally altered computer data in the payroll system, causing the loss of Sh317,500 to the company.

A report filed by police showed that Mr Ndegwa had worked for the company for 13 years and was charged with gross misconduct in 2016 for allegedly embezzling Sh1.4million from the state-owned company.

He was taken back and reprimanded after a board meeting, but demoted.

Mr Ndegwa was also charged a surcharge and ordered to pay half of the lost amount. He agreed to a monthly deduction of Sh5,000, which will be deducted from his payslip until Sh571,991 is paid in full.

The deductions were made from February 2018 to January 2020 when he allegedly interfered with the system and stopped the deductions, however the system continued to reflect the amount deducted.

It was later revealed that Mr Ndegwa, as an authorized payroll user, had accessed the system and halted the deductions for a period of time before this was discovered.

He denied the charges and was ordered to post bail of Sh200,000 to secure his release.

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Global Finance celebrates BoT boss https://mombasainfo.com/global-finance-celebrates-bot-boss/ Sat, 15 Jan 2022 05:48:26 +0000 https://mombasainfo.com/global-finance-celebrates-bot-boss/

The Central Bankers’ Reports, published annually by Global Finance since 1994, rate central bank governors of 101 countries and territories, including the European Union, Eastern Caribbean, Central African States and West African States, all of which have monetary unions.

The magazine offers free country economic reports, which ranked Prof Luoga seventh in Africa and third in East Africa with a B- grade, with Morocco’s central bank governor Abdellatif Jouahri among the top 10 best central bankers in the world.

Central Bank of Egypt Governor Tarek Amer also made the world top 10 for 2021, with Mauritania Governor Cheikh El Kebir Moulay Taher earning the lowest rating (D) in the African zone.

Jouahri, the governor of Bank al-Maghrib (Morocco), received an A grade, the highest award bestowed by central bank testimonials, for the fourth straight year, which is attributed to tripling commercial banks’ money supply and expanding financial resources will be a series of bonds and securities that Apex Bank would accept in exchange for the refinancing.

Egypt’s central bank governor Tarek Amer was also rated “A” for his commitment to restoring Egypt’s macroeconomic stability and the BoT for lowering their discount rate on lending to banks and lowering reserve requirements to provide additional liquidity for banks attributed to banks.

“The central bank said it would offer banks and other financial institutions regulatory flexibility to restructure loans to borrowers experiencing financial difficulties because of the coronavirus pandemic. Mobile money operators were allowed to increase their daily transaction limits,” the report said.

Tanzania’s GDP grew 5.7 percent in the first quarter of 2021, helped by global gold demand. GDP grew 7.0 percent in 2019, forecasting a lower growth rate and subdued inflation of less than 5.0 percent this year.

Elsewhere in East Africa, Kenya‘s Central Bank Governor Patrick Njoroge ranked the continent third at B+, with the report saying Kenya’s tea and flower exports resumed in late July.

The country’s economic recovery is being fueled by growing remittances from overseas workers and a bumper corn harvest, the governor said.

The Kenyan central bank lowered its benchmark interest rate early in the crisis and also lowered reserve requirements, allowing commercial banks to restructure bad loans.

Governor John Rwangombwa of Rwanda’s central bank ranked fourth on the continent and second in the B+ region as the country responded quickly to address the impact of the coronavirus on its fast-growing economy.

In March-April, the bank cut reserve requirements to ease liquidity constraints to a record low of 4.5 percent, allowing commercial banks to restructure outstanding loans for borrowers facing temporary liquidity problems due to the pandemic.

The government announced a $52 million package for local banks to help finance business continuity, while the World Bank approved $14.25 million in International Development Association (IDA) loans to provide immediate funding for the Covid -19 emergency project in the country, she added.

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Port expansions could expose Kenya to more crime https://mombasainfo.com/port-expansions-could-expose-kenya-to-more-crime/ Thu, 13 Jan 2022 10:18:08 +0000 https://mombasainfo.com/port-expansions-could-expose-kenya-to-more-crime/

Kenya‘s $ 3.6 billion port master to plan will transform the country’s sea, sea and dry ports over the next 30 years. Modern ports that conform to International Maritime Organization (IMO) codes are attracting a larger maritime market that affects both the Kenyan economy and the region. But with this expansion comes security concerns, especially organized crime and terrorism.

The Kenya Ports Authority (KPA) flagship project is the new Lamu Port, which will require an initial investment of $ 2.1 billion. It is one of the seven mega-infrastructure development projects within the Lamu Port-South Sudan-Ethiopia-Transport (LAPSSET) Corridor Project. That $ 25 billion program is part of Kenya Vision 2030, which aims to transform the country into a middle-income economy.

Lamu Port serves as a transshipment point to other seaport hubs, for example in Djibouti, South Africa and the United Arab Emirates. Transshipment ports are intermediate stations at which goods are transported from one ship to another in order to transport them to other destinations.

Lamu is near the border with Somalia, where al-Shabaab is a dominant presence. The terrorist group notoriously focuses on government infrastructure, property damage, and mining fear in local communities. This was shown when she attacked the Manda Bay military base in Lamu in January 2020, which killed three American Defense Forces and destroyed US planes and vehicles.

Al-Shabaab works with transnational organized crime groups and participates in organized crime activities to fund their organizational and terrorist campaigns. For example, the group has been reported to smuggle legal goods such as sugar, trade in illegal firearms and participate in human trafficking, including recruitment campaigns in Kenya.

In 2019, Kenya’s government banned trade between Kenya and Somalia through the Kiunga crossing and closed the border with Somalia due to security threats. The measures also aimed to counter the syndicates involved in illegal fishing, human trafficking, contraband and ‘terror Merchants’. Despite government efforts to promote business in Lamu at the Kiunga border point, evidence of organized crime has persisted near the port.

In April 2020 the Kenyan authorities set on fire Twelve tons of dried fish worth US $ 45,000 (KES 5,000,000) were smuggled into Kenya from Somalia. The Kenyan Coast Guard stationed in Lamu burned khat worth US $ 222,000 (KES 25,000,000) that was being directed from Kenya to Somalia.

And although piracy has subsided off the east coast of Africa, “an increase in shipping traffic through the port of Lamu could spark interest in the hijacking of ships – a crime in which al-Shabaab was indirectly involved in the past,” said one maritime man Security expert said anonymously the project of organized crime ENACT.

Local grievances could increase Lamu Port’s vulnerability to infiltration by organized crime and terrorist groups. The historical marginalization of communities and the youngest state Excesses The war on terror, such as extrajudicial killings and enforced disappearances, has at times targeted people in Lamu. Al-Shabaab takes advantage of such situations to recruit its members from Lamu.

In addition to ties to terrorist groups, Lamu was identified as a drug trafficking in 2018 Hotspot. As a connection to South Sudan and Ethiopia, the port offers the opportunity to expand drug trafficking to markets in northern Kenya and the neighboring East African countries. The port of Lamu and other LAPSSET infrastructure, such as the Juba-Addis Ababa railway line and Isiolo Airport in Kenya, are equally vulnerable to trade in minerals, wildlife and endangered tree species such as teak.

Port security experts told ENACT that port actors and users have set up border management committees that bring together key government agencies. In Lamu, they focus on maritime security issues such as smuggling contraband and the link between human trafficking and terrorism.

the Committees The aim is to provide a coordinated response between the KPA and other parts of the state, including the police, the Kenyan Coast Guard, the Immigration Service and the Kenyan Treasury. The border management committees have also involved the local Lamu communities to improve information gathering and increase public participation in security-related decisions.

However, KPA security chief Tony Kibwana notes that the KPA’s lack of an integrated maritime security policy and strategy is hampering cross-agency responses to organized crime, especially in newer ports like Lamu. The Maritime Transport Plan is currently being developed and would expand the KPA’s collaboration with government agencies such as the Kenyan Coast Guard Service and the Kenyan Navy to address transnational maritime threats offshore.

Safe havens stimulate local, national and regional economies, which benefit both the public and private sectors. Protecting ports against cross-border organized crime is vital and recent developments suggest that Kenya is making progress in securing its maritime space. The country was recently removed from the piracy red list due to its success in fighting piracy piracy Challenges.

An immediate positive consequence of this is lower insurance and security expenses (by millions of dollars annually) for those using Kenya’s ports. This is in line with the goal of the 2018-2047 KPA Master Plan to make Kenya an attractive and competitive hub and destination hub on the East Indian coast of Africa.

Mohamed Daghar, Regional Coordinator for Eastern Africa and Willis Okumu, Senior Researcher, ENACT Project, Institute for Security Studies (ISS) Nairobi, and Denis Ombuna Simon, Principal Security Enforcement Officer, Kenya Ports Authority

This article was produced by ENACT. ENACT is funded by European Union (EU). The contents of this article are the sole responsibility of the author and under no circumstances can it be reflected as the position of the EU.

(This article was first published by ISS Today, a Premium Times syndication partner. We have your permission to republish).

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Delta aims to develop the blue economy in order to attract investment https://mombasainfo.com/delta-aims-to-develop-the-blue-economy-in-order-to-attract-investment/ Tue, 11 Jan 2022 14:07:08 +0000 https://mombasainfo.com/delta-aims-to-develop-the-blue-economy-in-order-to-attract-investment/

From Adedapo Adesanya

Delta State said that developing a blue economy in Nigeria will attract huge investments in the state, including in seaports, tourism, rail and road development, airport, agriculture, oil and gas, housing construction, among others.

This will take place in the run-up to the Nigeria Blue Economy Stakeholders Conference in Lagos from January 25-27, 2022.

The event is organized by the Alfe City Institution and brings together the main stakeholders of a future Nigerian blue economy, including the nine neighboring countries, the ministries and authorities involved in the management of the new sector.

Olorogun Lucky Oghene-Omoru, director general of Delta State Investments Development Agency (DIDA), confirmed the state’s full involvement and said the full implementation of the initiative will help generate revenue for the state.

“If the Blue Economy Initiative is faithfully and successfully implemented in the nine riparian states, 11 river basins and with a strong commitment from the Federal Government of Nigeria and the state governments, including MDAs, who are considered to be the main players in the blue economy Development partners, the country could significantly increase its GDP by investing in seaports, tourism, rail and road development, airports and agriculture, ”he said.

Mr Oghene-Omoru said that all 25 Local Government Areas (LGA) in Delta State will be affected by the scheme and specifically requested that the state, as a key player in the proposed project, should be involved in the development of the initial conceptual framework and implementation Processes.

Regarding tourism in particular, he said: “Delta State is a tourist paradise because of its warm and very hospitable people, spectacular sandy beaches along the coast, many cultural festivals, the biodiversity of the ecosystem, historical monuments and sites among others.

“The tourism policy of the state government consists in creating a conducive environment by providing infrastructure and promoting a tourism industry driven by the private sector.”

He explained that the challenges of the blue economy are global and require global solutions that can be tailored to national and local priorities.

“The majority of governments around the world should get involved in the discussion of innovative methods, technologies and cutting-edge research to address sustainable opportunities for the blue economy,” he said.

Commenting on the potential of the blue economy in accelerating Nigeria’s economic growth, Oghene-Omoru said, “It involves building an ecosystem of industrial and mercantile business activities to make full use of the abundant natural, aquatic and marine resources of the Atlantic Ocean. Rivers, lakes, inland waterways and the river basins etc. in Nigeria.

“By the way, these bodies of water are characterized by swampy, swampy and difficult terrain, which is difficult to develop and which poses challenges in the provision of infrastructure facilities.

“However, a concerted effort must be made to mobilize investment capital to turn these areas into Nigeria’s industrial and business centers and to increase national GDP, as is the case in Cape Town in South Africa, Istanbul in Turkey, Singapore, Malaysia and many of Australia Fall was. ”And Chinese and US cities, to name just a few examples around the world.

“Every government should involve and involve all segments of the population, including women, youth and other marginalized groups.

“Governments should invest in data, science and cutting-edge technology to help prioritize governance, reform and shape management decisions.”

Delta State is one of the nine coastal states with a total of 850 kilometers of coastline, of which Delta State alone has 163 kilometers, which the state has the longest with about 19.2 percent of the total coastline of the country. In addition, there are so many rivers that cross the state in length and width, such as the Niger, Ethiopia, Orogodo, Warri, Benin, Forcados and the Ramos River, etc.

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Sri Lanka calls for Chinese debt rescheduling due to collapsing economy https://mombasainfo.com/sri-lanka-calls-for-chinese-debt-rescheduling-due-to-collapsing-economy/ Sun, 09 Jan 2022 15:36:14 +0000 https://mombasainfo.com/sri-lanka-calls-for-chinese-debt-rescheduling-due-to-collapsing-economy/

Sri Lanka’s foreign exchange reserves had dropped to just $ 1.5 billion by the end of November (file)

Colombo:

The ailing Sri Lanka tried in talks with guest foreign minister Wang Yi on Sunday to reschedule its enormous Chinese debt, the president’s office said.

The island’s tourism-dependent economy has been weakened by the pandemic and its depleted foreign currency reserves have resulted in food rationing in supermarkets and a shortage of essentials.

Its main ally, China, is Sri Lanka’s largest bilateral lender, and Wang’s visit came after international rating agencies warned that President Gotabaya Rajapaksa’s government could be on the verge of default.

“The president indicated that it would be a great relief if debt payments could be postponed amid the post-pandemic economic crisis,” a statement from the Rajapaksa office said.

There was no immediate response from the Chinese embassy in Colombo.

Sri Lanka’s foreign exchange reserves had plummeted to just $ 1.5 billion by the end of November – enough to pay for only about a month’s worth of imports.

The island’s largest utility began rationing electricity on Friday after running out of foreign currency to import oil for its thermal generators.

China accounted for about 10 percent of Sri Lanka’s $ 35 billion foreign debt by April 2021, government data shows.

Officials said China’s total lending could be much higher when you factor in loans to state-owned companies and the central bank.

Sri Lanka borrowed heavily from China for its infrastructure, some of which ended up as white elephants.

Colombo was unable to repay a $ 1.4 billion loan for a port construction in southern Sri Lanka and was forced to lease the facility to a Chinese company for 99 years in 2017.

The United States and India warned that the port of Hambantota, on major international east-west shipping routes, could give China a military base in the Indian Ocean.

Both Colombo and Beijing have denied that Sri Lankan ports are used for military purposes.

Wang arrived in Sri Lanka on Saturday evening after visiting the nearby Maldives, on the final leg of his first trip abroad in 2022, which also took him to Eritrea, Kenya and the Comoros.

China offered infrastructure maintenance, medical assistance and visa concessions to the Maldives as Beijing strengthened its links with the strategically located archipelago.

(Except for the headline, this story has not been edited by NDTV staff and will be posted via a syndicated feed.)

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