Africa’s climate finance landscape has seen a significant uptick, with a 48% increase in flows to US$44 billion in 2021/22. According to the “Landscape of Climate Finance in Africa 2024” report commissioned by FSD Africa and UK International Development, while this growth is encouraging, it still falls short of the estimated US$200 billion needed annually to transition to clean energy. “The research reveals a significant climate finance gap that threatens Africa’s sustainable development trajectory, with only 23% of the estimated annual funding required to implement Africa’s Nationally Determined Contributions (NDCs) and meet 2030 climate goals being tracked.” Public finance, particularly…
Author: David Indeje
David Indeje
David Indeje is the Community Engagement Editor at Khusoko, East Africa’s leading digital business news platform. He shapes editorial content, drives audience engagement, and amplifies diverse voices. Beyond journalism, he consults on digital strategy across agriculture, governance, technology, and health, while examining AI’s role in the future of media. He also serves as Communications Officer at KICTANet, advancing digital inclusion and policy dialogue.
ICP HUB Kenya and ICP HUB Turkey have partnered to promote Web3 development and blockchain education across both regions (Africa and Eurasia). This collaboration aims to empower developers and enthusiasts to explore the potential of decentralized technologies through the Internet Computer Protocol (ICP). Both HUBs share the mission of making ICP accessible and fostering innovation in the Web3 space. Key Initiative: ICP Educate Series Bootcamp This joint initiative is a comprehensive boot camp designed to boost Web3 education and development in Kenya and Turkey. The boot camp (held on October 24th) offered participants: Intensive learning program on Web3 technologies, building…
The Supreme Court of Kenya overturned the Court of Appeal’s ruling that declared the Finance Act 2023 unconstitutional. The apex court on Tuesday ruled that the Finance Act 2023 is constitutional, upholding the government’s position on the matter. “The preliminary objection on this Court’s jurisdiction is overruled. We hereby set aside the Court of Appeal’s finding declaring the entire Finance Act, 2023, unconstitutional,” said the Supreme Court. The decision confirms the legality of the Finance Act 2023 and allows the government to continue revenue collection and fiscal operations under its legislative framework. “The Consideration of the Finance Bill (National Assembly…
The Communications Authority of Kenya (CA) will implement new regulations to boost tax revenue from mobile devices. These measures, effective January 1, 2025, will impact various stakeholders in the mobile device ecosystem, including importers, assemblers, retailers, and mobile network operators. Key Regulations IMEI Registration: Local device assemblers must upload IMEI numbers of assembled devices to a Kenya Revenue Authority (KRA) portal. Importers must disclose IMEI numbers in their import documents submitted to the KRA. These measures will ensure the registration of devices in the National Master Database of Tax-Compliant Devices. Retailer and Wholesaler Responsibility: Retailers and wholesalers must verify the…
Afreximbank, a Pan-African trade finance institution, doubled its support for Africa’s burgeoning creative industries. The bank will allocate $2 billion over the next three years to the Creative Africa Nexus (CANEX) program, doubling its previous commitment. Since 2022, Afreximbank has seen a significant increase in opportunities within industries, from film production and music to fashion manufacturing and sports. The announcement was made during the CANEX WKND 2024 event in Algiers, Algeria, and underscores Afreximbank’s dedication to empowering Africa’s creative economy. “This will enable us to support significant infrastructure investments for film production, stadia, arenas, manufacturing facilities for fashion, and training…
Kenya Wine Agencies Limited (KWAL) launched Kibao Gin, a premium gin targeting young Kenyan adults seeking unique, high-quality spirits. Kibao Gin offers a fresh, juniper-forward taste, crafted for discerning consumers who value unique flavors and experiences. According to KWAL Commercial Director, Jonas Geeraerts, Kibao Gin is crafted for a bold new generation of discerning consumers seeking unique and pronounced flavours, including juniper-forward profiles, botanical blends, and natural, refreshing ingredients. “They are ambitious, adventurous, and eager to try new things and experiences, including when socializing with friends. Kibao Gin is a versatile, mixable gin that caters to this curiosity,” said Mr.…