June 26, 2024
Finance

Here’s what led Kenyans to burn part of parliament and call for the president’s resignation

KAMPALA, Uganda (AP) — Kenya’s president came to power by appealing to the common people, describing himself as a “hustler” and vowing relief from economic pain. But Tuesday’s deadly chaos in the capital, Nairobi, shows how far support for him has turned. Part of parliament burned as protesters rushed in and lawmakers fled. Bodies lay

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Finance

Thousands in Kenya demonstrate against proposed new taxes

NAIROBI, Kenya (AP) — Thousands of mostly young people demonstrated Thursday in Kenya’s capital and across the country against new tax proposals by the administration of President William Ruto in its annual budget legislation. The protests brought Nairobi’s central business district to a standstill as horse-riding riot police threw tear-gas cannisters and opened water cannons

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Loans

Nigeria bets on a new $2.25B World Bank loan to support reforms that have resulted in hardship

ABUJA, Nigeria (AP) — The World Bank has approved a $2.25 billion loan for Nigeria to shore up revenue and support economic reforms that have contributed to the worst cost-of-living crisis in many years for Africa’s most populous country. The bank said in a statement late Thursday that the bulk of the loan — $1.5

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Funds

More money is going to African climate startups, but a huge funding gap remains

NAIROBI, Kenya (AP) — When Ademola Adesina founded a startup to provide solar and battery-based power subscription packages to individuals and businesses in Nigeria in 2015, it was a lot harder to raise money than it is today. Climate tech was new in Africa, the continent was a fledgling destination for venture capital money, there

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Funds

Australia resumes funding for UNRWA and pledges more Gaza aid

SYDNEY (AP) — Australia will restore funding to the United Nations relief agency for Palestinians, weeks after the agency lost hundreds of millions of dollars in support following Israeli allegations that some of its Gaza-based staff participated in the Oct. 7 attack. The Australian government also pledged Friday to increase aid for the besieged enclave,

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