10,000 delegates, over 40 heads of state expected in Nairobi for upcoming TICAD Summit
Over 40 heads of states, UN secretary general Ban Ki Moon and top AU officials will attend the sixth Tokyo International Conference on African Development (TICAD) summit at KICC in Nairobi next weekend.
The UNCTAD conference brought about 5,000 delegates to Nairobi and on estimate injected Ksh6 billion ($59 million) directly into the economy. The government officials expect a direct cash injection of Ksh12 billion ($118 million).
According to a recent survey, the 10 largest African insurance markets in 2014 were South Africa, Morocco, Egypt, Nigeria, Kenya, Algeria, Angola, Namibia, Tunisia and Mauritius. Of these top 10 markets, by far the one that has the strongest growth prospects and yet considered as one of the toughest nuts to crack is Nigeria.
Despite global economic headwinds, Africa’s success story continues. The continent once labelled hopeless and backward just a few years ago, is now considered the world Cinderella after many countries changed course in the past two decades and achieved significant growth, reductions in poverty and improvements in social services.
Building technology for Africa is hard.
One of the biggest problems I see at present is the lack of true African stories.
Secondly, the global media has such a pessimistic narrative of Africa as a continent.
“We fully understand that monetary policy alone is not sufficient to bring about desired economic growth,” Buhari told a meeting of African central bank governors in Abuja.
“For us in Nigeria, while we recognise the challenges we are confronting … we are determined to diversify the economy away from the excessive reliance on oil and other primary products.”
At least 30 cotton farmers in the Western Zone have been fined Sh10 million for tampering with the weight of their produce.
The Tanzania Cotton Board (TCB) said the farmers had mixed their cotton with sand and other materials in a bid to increase the weight.