Australia to focus on investment in Africa, rather than aid
Rather than focusing on economic aid to African nations, the Australian government’s focus would be on encouraging the private sector to invest in the region, specifically the mining region, Foreign Affairs Minister Julie Bishop said. Speaking on the last day of the Africa Downunder conference, Bishop noted that the Australian government had been working hard to strengthen trade and business investment partnerships with Africa. Australia’s trade with Africa was worth A$10-billion in 2014, up from A$7-billion in 2009, with Bishop noting that the mining industry was at the forefront of this charge. “Africa is home to 30% of the world’s mineral resources and mining companies have been scaling up their investment in Africa for many years now.
UN body to aid Africa with nuclear power generation
UN’s International Atomic Energy Agency (IAEA) has decided to help African nations with the development of nuclear energy for electricity generation
Several African countries have expressed interest in the peaceful development of nuclear power, according to IAEA senior advisor for policy and strategy Anne Starz, on a visit to Nairobi. During the inauguration of IAEA’s Integrated Nuclear Infrastructure Review Mission of Kenya’s Nuclear Electricity Programme, Starz added that technical assistance along with bilateral cooperation between interested African nations would be encouraged by the IAEA.
KENYA TARGETS JAPANESE MARKETS
East Africa’s economic powerhouse Kenya is aiming to increase its influence in the Japanese markets, this is according to KenInvest’s Moses Ikiara.
Estimates suggest that trade between Kenya and Japan was above 1.5 billion US dollars in 2014. Experts lament trade imbalance between the two economies.
KenInvest’s managing director Moses Ikiara told CNBC Africa that the mooted direct flights between Japan and Kenya would see the volume of trade improving.
East Africa banks on green energy to drive growth
East African countries may soon emerge as global leaders in green energy, if efforts put by the various governments to exploit sources of renewable energy are attained.
Various stakeholders attending the East African Power Industry Convention (EAPIC) in Nairobi yesterday agreed that universal access to affordable energy could only be achieved by exploiting clean energy. Energy and Petroleum Principal Secretary Joseph Njoroge said the Government is committed to using renewable energy to access modern energy. “The Government of Kenya is committed to increasing access to modern energy, and will use Renewable Energy solutions as much as possible,” said Eng Njoroge while addressing delegates. He said there are several ongoing projects to tap into green energy. “I see a lot of development in the clean power market in the area, but also a lot of isolated initiatives,” explained Jonker Klunne, Clean Power East Africa chairman.
