World Bank's IFC to Invest KSh 3 Billion in Kenya's Affordable Housing Project

The International Finance Corporation (IFC) has entered into an investment agreement, committing around KSh 3.2 billion, for affordable housing projects in Kenya. This financing is intended to support the construction of 3,400 affordable housing units in the country. The affordable housing initiative operates under a Public-Private Partnership (PPP) model and seeks to alleviate the annual housing deficit, estimated at 200,000 units in Kenya. The investment from IFC is part of efforts to address the housing challenges in the region.

The agreement, signed on December 15, 2023, at the IFC/World Bank Headquarters in Upperhill Nairobi, marks a strategic partnership between the IFC and IHS Kenya. The IFC's investment involves an equity co-investment package of up to €19.3 million (approximately $20.9 million or KSh 3.2 billion). This investment is intended to be made alongside IHS Kenya Green Housing Partnership LLP and IHS Kenya Green Housing SCSp (the Fund). The funds will be used for the development and acquisition of approximately 5,000 newly developed, resource-efficient, green affordable housing properties in Kenya. This initiative reflects the IFC's commitment to supporting sustainable and affordable housing solutions in the region.

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Tanzania's Samia Suluhu Dissolves Entire Electricity Board Over Frequent Power Blackouts

President Samia Suluhu Hassan took the decision to dissolve the entire board of the Tanzania Electricity Supply Company (Tanesco) on Thursday in response to widespread dissatisfaction among Tanzanians over frequent power outages. The outages are attributed to power rationing in Tanzania, stemming from reduced water levels in dams and ongoing repairs to power lines. This situation has led to a significant 400-megawatt shortfall in the country's power supply. The move to dissolve the Tanesco board reflects the government's response to address the challenges and improve the electricity situation in Tanzania.

A court in Colorado has barred Donald Trump from being included on the state's presidential primary ballot.

An appeals court in Colorado issued a ruling on Tuesday, stating that Donald Trump will not be permitted to appear on the state's presidential primary ballot due to his association with the Capitol attack in January 2021. This unexpected legal decision, which the Trump campaign promptly announced it would contest, has the potential to disrupt the 2024 presidential election, where the former reality TV star currently holds a substantial lead as the frontrunner for the Republican Party nomination. According to the Supreme Court of the State of Colorado, "A majority of the court holds that President Trump is disqualified from holding the office of President under Section Three of the Fourteenth Amendment to the United States Constitution. Because he is disqualified, it would be a wrongful act under the Election Code for the Colorado Secretary of State to list him as a candidate on the presidential primary ballot." The court's decision rested on the interpretation of the...

The top military officials of the United States and China have engaged in a conversation for the first time in over a year.

The top U.S. military officer engaged in a virtual meeting with his Chinese counterpart on Thursday, according to the Pentagon. This marks the first such conversation in over a year, and there are hopes among U.S. officials that it could pave the way for a broader restoration of ties between the two militaries. The video teleconference follows an agreement between U.S. President Joe Biden and Chinese President Xi Jinping last month to resume military-to-military ties. These ties were severed by Beijing in response to a visit to self-ruled Taiwan by then-House of Representatives Speaker Nancy Pelosi in August 2022. U.S. Air Force General CQ Brown, the chairman of the Joint Chiefs of Staff, and General Liu Zhenli of China's People’s Liberation Army engaged in discussions covering "a number of global and regional security issues," as reported by Brown's office. General Liu holds the position of Chief of the Joint Staff Department of the Central Military Commission (CMC)...

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