Fred Obura

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Nigeria Joins BRICS as a Partner Country

Jan 20, 2025 | kenyanwallstreet.com | Fred Obura

Nigeria has been formally admitted as a partner country of THE multinational bloc BRICS, in a move that exemplifies the growing authority of the association and its role in international affairs. The west African country becomes the ninth partner country of BRICS, joining Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan. This partner-country category was created at the 16th BRICS Summit, held in Kazan, Russia, in October 2024.
Treasury Projects 5.3% Economic Growth in 2025

Jan 20, 2025 | kenyanwallstreet.com | Fred Obura

The National Treasury is projecting that Kenya’s economy will grow by 5.3% this year, slightly lower than Central Bank of Kenya’s December 2024 prediction of growth by 5.5%. On December 5, the apex bank projected the economy to grow at 5.5 per cent in 2025 and 5.1 per cent in 2024 mainly supported by resilience of key service sectors and agriculture, as well as improved exports.
After Hemedti, US Sanctions Sudan's Army Leader Al-Burhan Over Lethal Attacks

Jan 17, 2025 | kenyanwallstreet.com | Fred Obura

The United States of America has sanctioned General Abdel Fattah Al-Burhan, the leader of Sudanese Armed Forces (SAF), for committing lethal attacks on civilians in the country. The action which comes days after US issued similar sanctions on the leader of the Rapid Support Forces (RSF) Mohamed Hamdan Dagalo (Hemedti), Gen. Burhan’s nemesis in the long-running conflict.
Kenya’s Targets 6bn Litres Milk Production in 2025

Jan 16, 2025 | kenyanwallstreet.com | Fred Obura

Kenya is targeting above 6 billion litres of milk production and an additional 108,500 metric tonnes of red meat by the end of this year. Milk production increased 14 percent from 4.6 billion litres in 2022 to 5.2 billion litres in 2023. In 2023, the Kenya Animal Genetic Resource Centre provided farmers with 900,000 doses of bull semen with the aim of increasing production and productivity.
Population Bulge Pushes Africa to Food Drawing Board

Jan 16, 2025 | kenyanwallstreet.com | Fred Obura

The African Union (AU), has adopted a 10-year agricultural development strategy that will see the continent increase its agrifood output by 45% by 2035 and transform its agri-food systems. The continent’s population is projected to hit 2.5 billion against the expected global growth of 9.8 billion people by 2050, creating food security concerns. The 55 AU member states meeting in Kampala-Uganda over the weekend agreed to start implementing the new strategy and action plan from next year to 2035.
Property Dealers Exceed a Year on Average Without Making Single Sale-KNBS

Jan 15, 2025 | kenyanwallstreet.com | Fred Obura

Investors endured an average 16 months in 2023 to dispose of residential properties, with two and three-bedroom apartments taking an even longer time-over 18 months-to sell. The Kenya National Bureau of Statistics in 2023/2024 Real Estate Survey indicates that two-bedroom town houses and three bedroomed bungalows took the least time at 6 months and 8 months, respectively. On the other hand, three- and two-bedroom apartments took the longest time at 19 months and 18 months, respectively.
16 Counties Outpace National GDP Growth Rate

Jan 14, 2025 | kenyanwallstreet.com | Fred Obura

16 counties recorded a higher growth rate than the national average GDP growth (4.6%) between 2019 and 2023, new data from the Kenya National Bureau of Statistics (KNBS) indicates. The top five counties in terms of economic growth are Marsabit (9.3%), Tana River (7.6%), Nakuru (6.9%), Kajiado (6.3%), and Nairobi City (6.1%). Five counties recorded growth rates below 3.0%, with three of these registering growth rates of less than 2.0%.
41% of Employers Mull Lay Offs as AI Takes Over-World Economic Forum

Jan 14, 2025 | kenyanwallstreet.com | Fred Obura

A significant share of employers across the globe expect to downsize their workforce as Artificial Intelligence (AI) capabilities to replicate roles expand, The Future of Jobs Survey of by World Economic Forum has found. While most employers plan to hire new people with AI relevant skills, a significant share (41%) also expect to downsize their workforce within the next five years.
Mombasa Port Reaps from Red Sea Crisis, Posts 133% Jump in Traffic

Jan 10, 2025 | kenyanwallstreet.com | Fred Obura

Transshipment traffic through the Mombasa Port jumped by 132.9%, an increase of of 280,593 twenty-foot equivalent unit (TEUs), to 491,666 TEUs in 2024 as the critical gateway benefitted from the Red Sea crisis. The growth is linked to diversions following attacks on container vessels in the Red Sea which wreaked havoc on one of the world’s most important trade routes.
Green Electricity Generation Declined in Q3 2024-KNBS

Jan 9, 2025 | kenyanwallstreet.com | Fred Obura

Electricity generated from green sources declined in the third quarter of last year, while production from hydropower sources increased significantly, data from the Kenya National Bureau of Statistics shows. Thermal electricity generation declined by 10.2 per cent while electricity from hydro increased by 21 per cent to 950.1 million KWh.Electricity generated from geothermal, wind and solar declined by 7.8 per cent, 8.2 per cent, and 13.4 per cent respectively.