Originally posted on Quartz:
A Chinese-funded multi-billion dollar rail link between Kenya’s capital and the port city of Mombasa will cut through Nairobi’s national park for wildlife, according to officials. After months of back and forth, officials agreed late last week to allow 11km of track to pass through Nairobi National Park, a 117 square kilometer (45 square-mile)…
The International Monetary Fund (IMF) and World Bank recently raised the red flag over debt, stating Kenya must put a tight lid on it to keep its economy on a steady growth path. According to the Business Daily, Kenya’s debt load crossed the 50 per cent of gross domestic product (GDP) mark to stand at … Continue reading
By Christine Mungai In 1977, the average price of generating energy from sunshine was $76.67 a watt. Today, the price has dropped to just $0.60 a watt. It’s a stunning 99.2% drop in 38 years, and solar energy is soon going to reach “grid parity” all over the world – the point where it is cheaper, or at … Continue reading
By Juan Cole President Obama’s visit to Kenya is of course personal, though he has been there before both as a civilian and as a senator. But it does also have a geopolitical and economic dimension. Kenya is a country of roughly 46 million people, about the same as Spain. But its nominal gross domestic product … Continue reading
US President Barrack Obama will be in Kenya this week. It is a good time to take stock of the economic relationship that emerged between Kenya and the US during his administration. By Anzetse Were One major thing that the Obama administration has done is to begin catching up with the rest of world in … Continue reading
In December 2013, the US Federal Reserve began to taper its quantitative easing (QE) programme and made a final $15 billion (Sh1.4 trillion) purchase in October 2014. Africa benefited from the QE—the purchase of securities from the market to lower interest rates and boost money supply—as cash was being pumped into the US and the … Continue reading
The African Growth and Opportunity Act (AGOA) is set to expire this September. AGOA provides about 6,500 African products with a preferential quota and duty-free access to the United States market. Over the past 13 years, AGOA has been important to Kenya and Africa because unlike economic partnership agreements, the Act is non-reciprocal and unilateral – preferences … Continue reading
“African nations are taking steps toward creating a free-trade zone with a combined size of $2 trillion, as heads of state meet in Johannesburg (South Africa) this week,” Bloomberg reports. Talks on removing the barriers to trade and the movement of people between the continent’s 54 countries will begin on June 15 at the African … Continue reading
“Africa’s three major regional economic committees (RECs) are set to finalise an agreement on forming the continent’s largest free trade area (FTA) during a tripartite summit taking place 7-10 June in Egypt’s Sharm El-Sheikh,” Ahram Online reports. “The tripartite grouping, which accounts for 51 percent of Africa’s $2.3 trillion GDP, will sign a deal Wednesday to … Continue reading
“Low oil prices and loose monetary policy in the U.S. have bolstered Kenya’s economy, leading the World Bank to revise its growth forecast for East Africa’s largest economy to 6% this year sharply up,” WSJ reports. #World Bank sees Kenya's GDP growth at 6.0 pct in 2015 – Reuters Africa http://t.co/n9MRGDnnPr — 757Live Ethiopia (@757LiveET) … Continue reading