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4 African Business Februar y 2025 Business Intelligence News Kenya Airways shows a profit and returns to the Securities Exchange Ali Mohamed, chair of the African Group of Negotiators on Climate Change, criticised President Donald Trump’s decision to again withdraw from the Paris Climate Agreement. In a statement, Mohamed said the group is “deeply disappointed by the unilateral decision by President Donald J. Trump to withdraw from the Paris Agreement and promote polluting energy systems. This decision is a direct threat to global efforts to limit temperature rise and avert the catastrophic impacts of climate change, particularly for the world’s most vulnerable nations.” Mohamed said the US bears a “historical responsibilit y to lead in climate a c t i o n”. Kenya Airways has returned to the Nairobi Securities Exchange (NSE) after an absence of over four years, having last year recorded its first profit since 2013. Trading was initially suspended in July 2020 after the government proposed to nationalise the airline and rescue it from mounting debts amid the Covid-19induced slump in global air travel. That plan was shelved after the airline showed signs of recovery, and its recording of a $3.96m profit (after taxes and debt ser vice payments) for the first half of the financial year ending 30 June 2024 paved the way for its relisting, the NSE said. Africa’s climate envoy criticises T r ump’s withdrawal from Paris process Police action against illegal miners leads to 78 deaths At least 78 people died during a police siege targeting illegal miners in Stilfontein, South Africa. Police had encircled the mine since August and cut off food and water supplies to tr y to force the miners – many of whom are thought to be undocumented workers from neighbouring countries – to the surface in order to arrest them. More than 246 miners were brought up alive, many of whom were arrested. The police had claimed that to have allowed food and water during the siege would have meant “allowing criminality to thrive”, but have been accused by labour union GIWASU of participating in a “ m a s s a c r e ”. One deal nearly doubles foreign direct investment in Africa Foreign direct investment (FDI) inflows to Africa surged in 2024, according to the Global Investment Trends Monitor from the United Nations Conference on Trade and Development. FDI increased by 84% to an estimated $94bn, the highest value ever recorded. However, the increase was largely due to a single finance deal for the development of the Ras El-Hekma peninsula in Egypt by ADQ, a UAE-based sovereign investment fund. Other FDI flows to Africa were still up 23%, but they remained modest at about $50bn. There were 200 fewer greenfield projects in Africa but an 8% increase in international project finance for renewable energy in Africa. Donald Trump wears a coal miner’s protective hat while addressing his supporters during a rally at the Charleston Civic Center in West Virginia.
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4 African Business Februar y 2025

Business Intelligence News

Kenya Airways shows a profit and returns to the Securities Exchange

Ali Mohamed, chair of the African Group of Negotiators on Climate Change, criticised President Donald Trump’s decision to again withdraw from the Paris Climate Agreement. In a statement, Mohamed said the group is “deeply disappointed by the unilateral decision by President Donald J. Trump to withdraw from the Paris Agreement and promote polluting energy systems. This decision is a direct threat to global efforts to limit temperature rise and avert the catastrophic impacts of climate change, particularly for the world’s most vulnerable nations.” Mohamed said the US bears a “historical responsibilit y to lead in climate a c t i o n”.

Kenya Airways has returned to the Nairobi Securities Exchange (NSE) after an absence of over four years, having last year recorded its first profit since 2013. Trading was initially suspended in July 2020 after the government proposed to nationalise the airline and rescue it from mounting debts amid the Covid-19induced slump in global air travel. That plan was shelved after the airline showed signs of recovery, and its recording of a $3.96m profit (after taxes and debt ser vice payments) for the first half of the financial year ending 30 June 2024 paved the way for its relisting, the NSE said.

Africa’s climate envoy criticises T r ump’s withdrawal from Paris process

Police action against illegal miners leads to 78 deaths

At least 78 people died during a police siege targeting illegal miners in Stilfontein, South Africa. Police had encircled the mine since August and cut off food and water supplies to tr y to force the miners – many of whom are thought to be undocumented workers from neighbouring countries – to the surface in order to arrest them. More than 246 miners were brought up alive, many of whom were arrested. The police had claimed that to have allowed food and water during the siege would have meant “allowing criminality to thrive”, but have been accused by labour union GIWASU of participating in a “ m a s s a c r e ”.

One deal nearly doubles foreign direct investment in Africa

Foreign direct investment (FDI) inflows to Africa surged in 2024, according to the Global Investment Trends Monitor from the United Nations Conference on Trade and Development. FDI increased by 84% to an estimated $94bn, the highest value ever recorded. However, the increase was largely due to a single finance deal for the development of the Ras El-Hekma peninsula in Egypt by ADQ, a UAE-based sovereign investment fund. Other FDI flows to Africa were still up 23%, but they remained modest at about $50bn. There were 200 fewer greenfield projects in Africa but an 8% increase in international project finance for renewable energy in Africa.

Donald Trump wears a coal miner’s protective hat while addressing his supporters during a rally at the Charleston Civic Center in West Virginia.

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