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Roam is expanding its electric motorcycle charging network in Nairobi with 10 new solar-powered hubs, supported by ENERGICA. This initiative aims to accelerate the transition to electric motorcycles, potentially reducing fossil fuel imports and generating additional revenue for Kenya's utility company. The Roam Air motorcycle recently completed a historic 6,000-kilometer solar-powered journey from Nairobi to Stellenbosch, showcasing the viability of clean energy for long-distance travel in Africa.
Rich nations have agreed to a new climate finance goal of at least $300 billion annually by 2035 for developing countries, replacing the previous $100 billion target. Despite criticism from vulnerable nations for its insufficiency, the deal aims to mobilize a total of $1.3 trillion per year from all sources by 2035. The agreement, reached amid contentious negotiations, emphasizes the need for timely funding to address the escalating climate crisis.
Kenya plans to draw down a $1.5 billion loan from Abu Dhabi in tranches to comply with borrowing limits set by an International Monetary Fund program. The initial access is expected to be around $700 million at the beginning of 2025, with the remaining funds disbursed later, subject to changes in timelines.
Indian billionaire Gautam Adani and his nephew Sagar have been indicted for allegedly bribing officials in a $265 million scheme to secure power-supply contracts. The fallout has led to a significant drop in Adani Group's market value, with shares plummeting and Kenya canceling a major airport deal with the conglomerate. U.S. authorities claim the Adanis misled investors while raising over $3 billion by concealing corruption.
Kenyan President William Ruto announced the cancellation of proposed deals with the Adani Group, including a major airport expansion and a $700 million power transmission project. He cited "new information provided by investigative agencies and partner nations" as the reason for this decision. The energy ministry's contract with Adani Energy Solutions had already been suspended by a court in October.
Kenyan President William Ruto has canceled plans to award concession deals to Adani Group for constructing power lines and managing the main airport. He emphasized his commitment to combating corruption, citing new evidence from investigative agencies and partner nations that prompted the immediate cancellation of the procurement process.
Bio-Manguinhos in Brazil is poised to supply its mRNA COVID-19 vaccine, while Kenya's Biovax faces salary competition from commercial firms despite a $120 million World Bank loan. The WHO's mRNA technology transfer program aims to establish sustainable vaccine production in low and middle-income countries, with 11 facilities expected by 2030. However, financial challenges persist, requiring an estimated $200 million to enhance manufacturing capabilities and support ongoing research.
Ethiopia is set to export approximately 100 megawatts of electricity to Tanzania through Kenya, pending the finalization of a cross-border trade agreement. The amount of power to be traded may be adjusted during the upcoming negotiations, according to Ethiopian Electric Power spokesperson Moges Mekonnen.
At COP29, negotiations on emissions reduction faced collapse as developed and developing nations clashed over new targets, with Saudi Arabia and Bolivia opposing further commitments. Meanwhile, G20 discussions hinted at potential progress in climate finance, particularly regarding voluntary contributions from developing nations, which could influence the New Collective Quantified Finance goal. The outcome of these talks remains uncertain as the COP29 presidency considers issuing a general statement to salvage progress.
Negotiators at COP29 face significant challenges, particularly regarding gender-responsive climate policies, with key players blocking progress on human rights language and financing. The African group has expressed frustration over stalled discussions on a $1.3 trillion climate finance goal, emphasizing the need for fairness in the international financial system. Meanwhile, Brazil advocates for a global billionaire tax at the G20 to support climate action and poverty alleviation.
KEN
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