#economic development

Cooperatives and Micro Small Enterprise Development CS Wycliffe Oparanya has praised the cooperative movement for its significant role in Kenya's economic development. He noted that savings and credit cooperatives (saccos) and other cooperatives greatly contribute to the country's gross domestic product and improve livelihoods across various sectors, including agriculture, education, and the environment.

According to TimesLIVE, Africa is rich in opportunities, but the challenge lies in how to effectively transform these opportunities into tangible growth. The discussion focuses on strategies to amplify potential within the continent to achieve economic development.

A pro-good governance group has praised Delta State Governor Sheriff Oborevwori for his administration's achievements in infrastructural development, economic transformation, and people-centered initiatives, according to ThisDay Live. The group urged for continued performance in these areas.

David Kafulila, the Director of the Public-Private Partnership Centre, stated that the government is progressing with the development of a partnership with the private sector for the construction of the Tunduma–Igawa–Mbeya road. This initiative is expected to enhance transportation infrastructure and improve economic efficiency.

Lagos State Governor Sanwo-Olu, represented by Babatunde Onigbanjo, announced the launch of a N10 billion Cooperative Fund aimed at promoting the growth of micro, small, and medium enterprises (MSMEs) and fostering peace in the region. The governor highlighted that over 16,000 cooperative societies are registered in Lagos, which operate through 24 Area Offices and play a crucial role in grassroots economic development.

Tanzania aims to achieve its goal of becoming a middle-income, industrialized economy by focusing on reliable, affordable, and sustainable energy. The country recognizes that without sufficient electricity to support industries, businesses, and household needs, economic transformation will be limited. Consequently, energy development has been prioritized as a strategic national objective, according to Daily News.

Albert Chalamila, the Regional Commissioner of Dar es Salaam, has urged the Kinondoni Municipal Council to move away from solely relying on revenue collection. Instead, he advocates for embracing public-private partnerships (PPPs) and investing in major development projects to transform the municipality into a hub of economic activity.

The article discusses the potential for an African Credit Rating Agency to address the disadvantages posed by current credit ratings for the continent. It raises concerns about whether such an agency would be perceived as credible or if it would be seen as Africa marking its own homework, reflecting investor scepticism about self-assessment in credit ratings.

Uganda’s Finance Minister Henry Musasizi outlined his agenda during his first management meeting with senior officials at the Ministry of Finance, Planning and Economic Development. He emphasized the need for a cultural shift within the ministry to achieve the government's broader economic goals. Musasizi was recently appointed to the position, succeeding previous leadership.

The Hand in Hand Eastern Africa – Tanzania (HIHEA) organization has officially launched its office in Iringa and commenced the Inua 2 project, which aims to economically uplift 8,000 citizens through entrepreneurship, agriculture, and modern livestock farming. During the launch event, Elias Luvanda, the Acting Regional Administrative Secretary of Iringa, highlighted the government's support for the initiative.