Spiro was named alongside giant car manufacturers Toyota and BMW in the coveted list unveiled on Thursday, May 30, 2024.
Other renowned firms on the list include Microsoft, Google, Rappi, Huawei, Amazon, Airbus, Tata Group, OpenAI, Pfizer, and Bank of America.
Kenya’s asset financing platform M-Kopa and Food4Education, which supplies subsidized nutritious meals to primary school children, also made the list.
The Time 100 Most Influential Companies list celebrates businesses making extraordinary contributions in their fields, shaping the future of industries and society.
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Founded in 2019, Spiro launched in Togo and Benin in 2022, followed by Kenya, Rwanda, Uganda, and Africa’s most populous country, Nigeria, last year.
In Uganda, the e-bike and battery swapping provider has partnered with the government to replace its emission-heavy moto taxi fleet, known as boda-bodas, with electric two-wheelers.
Spiro bets on commuters’ needs in populous African cities to double its fleet of 14,000 electric bikes by the end of 2024.
Commenting on the Time’s recognition, Kaushik Burman, CEO of Spiro, said, “This recognition for Spiro in the Time 100 list is humbling and will catalyze our efforts to demonstrate our ability to innovate and deploy affordable mobility to customers, thereby fostering financial inclusion and empowering the lives of our customers and communities.”
Anish Jain, Group CEO of Equitane, Spiro’s holding company, added, “This accolade underscores the innovative work we are doing in Africa and beyond. We are committed to expanding our services and infrastructure to support the growing demand for sustainable transportation options.”
This is the revolutionary concept behind Canon’s “World Unseen” project. Going beyond the traditional frame of a photograph, “World Unseen” employs innovative techniques to create an inclusive experience of photography, particularly for visually impaired individuals.
In their very first exhibition in Africa, Canon Central and North Africa brought this campaign closer to home at GITEX Africa 2024, the largest three-day technology and startup event in Africa, ongoing in Marrakech, Morocco.
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The technology behind elevated prints, bringing the power of imaging to everyone, includes the Arizona 2300 FLXflow using PRISMAelevate XL software. Thanks to the elevated print, people can feel the different elements of the scenes through shapes, highlighted areas, and textures, allowing them to visualize the images through touch.
At the Canon booth in Marrakech, delegates, both visually impaired and sighted, were able to have multi-sensory experiences connecting them with powerful images and the stories behind them through audio descriptions, soundscapes, and braille.
The exhibition featured a series of photographs taken by world-renowned photographers including multi-award-winning South African photojournalist Brent Stirton, renowned Brazilian Photojournalist Sebastião Salgado, Nigerian photojournalist Yagazie Emezi, sports photographer Samo Vidic, fashion photographer Heidi Rondak and Pulitzer winning photojournalist Muhammed Muheisen.
Hamid Nabil was among the individuals who had the opportunity to experience the power of this innovative technology aimed at fostering inclusivity and deeper appreciation for diverse perspectives.
Visually impaired, Nabil was Morocco’s first visually impaired student to graduate with a doctorate degree in English Studies from Rabat’s Mohammed V University.
Rashad Ghani, the B2C Director for Canon Central and North Africa, said the new innovative project is part of the renowned Japanese imagery brand’s commitment to contributing to a more inclusive society.
“It is Canon’s philosophy of Kyosei, you know, working and living together for the common good. That’s how Canon is. Canon is not only a brand that creates something for, you know, a product to do business. They always look at society and something to enhance in the society.
“Being an imagery brand for so many years, you know, giving products to create photographs. Yes, people can see it. But then also Canon as a brand positions itself that why those people who cannot see should not feel the product or feel the picture. And that’s where I think this has come out as a concept where they can also feel what is around them and they can also sense what exactly the pictures and the images are,” he stated.
Ghani affirmed that the elevated printing feature is just one among many available on Canon printers, and the company will stay abreast of the ever-changing world of technology to keep giving its customers new experiences.
The second edition of GITEX Africa kicked off in Morocco, on Wednesday, May 29, 2024, and will close on Friday, May 31, 2024. The three-day event showcases the latest innovations and trends in tech, with a focus on connecting businesses, entrepreneurs, and investors.
Speaking during Kenya’s National Prayer Breakfast on Thursday, May 30, President Ruto said that as a “responsible steward,” there was no way he could spend the colossal amount on the trip, insisting, “I am not a madman”.
According to the Kenyan Head of State, his friends offered the plane after he decided to travel on Kenya Airways (KQ) to the US upon learning that it would cost the taxpayers at least Ksh70 million on a chartered flight.
“I am a very responsible steward believe you me. There is no way I can spend Ksh200 million in fact it cost the republic of Kenya less than Ksh10 million because I am not a madman,” President Ruto defended himself.
“When I was told the cheapest plan was Ksh70 million I told my office, go and book Kenya Airways so when some friends of mine heard that I was going to travel Kenya Airways, and I have built a big reputation as a country, some friends told me how much are you willing to pay? I said I’m not willing to spend more than Ksh20 million they said bring Ksh10 million we give you the plane.”
He emphasized that as president, he was committed to leading from the front in implementing the government’s austerity measures to cut spending.
“Look at me Kenyans, look at me again. I must lead from the front as I tell others to tighten up their belt mine must be where to begin. So relax and the debate must end because I am that responsible and it is going to be that way,” Ruto added.
“My plan is that in 3 years we must have a balanced budget.”
President Ruto’s choice of a luxurious private jet for his trip to the US drew mixed reactions with a section of Kenyans questioning his commitment to cutting government spending by state officers.
Upon his return to the country after the four-day visit, he was forced to clear the air, explaining that travelling on the private jet was way cheaper than travelling on Kenya Airways, the country’s national carrier.
“Fellow Kenyans, I have noted concerns on my mode of transport to USA. As a responsible steward of public resources and in keeping with my determination for us to live within our means and that I should lead from the front in so doing, the cost was less than travelling on KQ,” President Ruto said in a post on X last Sunday.
The local media had reported that State House Kenya charted the luxurious aircraft from Dubai-owned RoyalJet company for the president and his delegation’s trip to the US. According to KTN News, the cost of hiring the jet is about $1.5 million (about Ksh200 million).
The US government had earlier denied reports that it paid for the aircraft the Kenyan delegation used for the US trip.
“Just to be clear: The United States of America did not pay for President Ruto’s jet to the US,” a spokesperson for the US embassy in Nairobi told the press.
Since assuming office in September 2022, President Ruto has imposed several austerity measures including banning non-essential travel by state officials over financial constraints.
The president has also introduced new taxes on various goods and services, even as he and his deputy, Rigathi Gachagua, insist that they inherited a “dilapidated” economy from the former administration of President Uhuru Kenyatta.
President Ruto was accompanied by various government officials, members of the opposition, and representatives from the creative economy to the US on May 20. He was the first African leader to make a state visit to the White House in 16 years since Ghana’s John Kufuor visited in 2008.
President Kagame said that some powerful entities have not been responsive to calls for reforming the existing financial systems due to fears of losing influence and control over the sector.
The Head of State spoke on Wednesday, May 29, during the presidential dialogue on the topic “Africa’s Transformation, the African Development Bank (AfDB), and the Reform of the Global Financial Architecture” at the AfDB annual meetings in Nairobi, Kenya.
He emphasized that it was a “no-brainer” that financial systems designed more than 50 years ago are no longer viable today.
“Things have changed, and therefore, a rethink of a new design that fits the purpose must be put into play. There is no doubt about that. I think everybody understands that point, but there are interests that operate behind it. For us in Africa, we are hard-pressed to see there is a change in the design of these institutions. But maybe the way the institutions are set up benefits some parts of the world. Those in those parts of the world are not interested, or they are being slow in allowing the change to happen because it gives them control and say over other people’s resources,” President Kagame stated.
“Everybody understands [that reforms are necessary]. What is complicated is reaching this understanding and compromising that we don’t lose anything by having everybody benefit as we should benefit, all of us.”
President Kagame also noted that for Africa to achieve the much-needed gains, the continent must be united and speak in one voice.
“Africa’s interests must be taken care of, beginning with ourselves…it has to be with one voice but also loud, clear, and effective. For that to happen, we think about working together,” he said.
“The reform we are talking about is how to disrupt the current architecture so that it includes significantly and visibly the interests of our continent.”
He said the rest of the world can not afford to ignore the African continent as it’s the only region that will have a growing middle-income class in a “few decades”.
“In a few decades, the only place in this world that will have a growing middle class is Africa. So it is even in the interest of the rest of the world that has marginalized Africa to contribute to the wellbeing of our continent. Because the growth of Africa, based on this middle-class, feeds into the growth of the rest of the world,” President Kagame said, adding “But Africa cannot wait to be handed this opportunity by anybody else, we therefore must be on the frontline, fighting for this right, for ourselves but also which contributes to the wellbeing of the rest of the world.”
The presidential dialogue was part of the five-day 59th Annual Meeting of the Board of Governors of the African Development Bank and the 50th Meeting of the Board of Governors of the African Development Fund taking place at the Kenyatta International Conference Center (KICC).
Kenya’s President William Ruto, who was among the panellists, also emphasized that the reforms were long overdue and should solve the continent’s most pressing issues including climate change.
“The issue of reforms is settled; it must be done. We need a financial architecture that has long-term financing, with 40 years or 10 years grace period, low-interest rates, concessional financing, including where possible grants. We also need financing at scale; the quantum is very important. We also need finance that is agile, flexible, and especially climate-sensitive. So, if there are shocks, that financial architecture must be responsive because climate change is the new normal,” President Ruto explained.
“Switching from drought to floods progressively is becoming what it is. In Kenya, we had a drought a year ago that decimated 2.5 million herds of livestock. This year alone, we are on floods that have taken the lives of 200 Kenyans. So, this is the new reality. The financial architecture that must be in place must respond to this climate reality we have.”
The Annual Meetings comprise Member States’ invitation-only sessions, closed bilateral meetings, as well as events open to all attendees, including the press. They provide a forum for Bank Group Governors to share their experiences with managing a mounting burden of public debt, which has surged following the global economic shocks of the last few years.
The meetings also offer a forum for the delegates to examine the African Development Bank’s contribution to Africa’s socio-economic transformation.
Addressing a press conference in Kigali, NBR Governor John Rwangombwa announced that Rwanda’s inflation rate had dropped to 4.7 per cent in the first quarter of 2024 from 8.9 per cent registered in the last quarter of 2023. He added that the bank expects inflation to remain within the target of 5 per cent in 2024 and 2025.
“We expected inflation to ease to around 5% this year, and in the first quarter, we registered an average of 4.7%. We expect this trend to continue for the rest of the year. At least, our average projection for this year is 5%, which is the same projection we have for 2025,” the Central Bank boss told the media.
The governor noted that the economy had recorded good performance in the agriculture sector in the first quarter, adding that normal performance is expected in the second quarter. He noted that the prices of food are expected to remain normal during the period.
“We saw good performance in agriculture in the first quarter of this year. We expect normal performance for season B—not as strong as we registered in season A, but good enough to maintain food prices at affordable/normal rates,” he added.
While acknowledging the positive progress, Governor Rwangombwa warned of several potential risks to the economic outlook. These include global geopolitical tensions, particularly in the Middle East, which could disrupt international commodity prices, as well as adverse weather conditions in Eastern and Southern Africa.
“Within the region, we have had challenges in the southern part of Africa, especially Zambia, which was a main supplier of maize to the region. It was hit by drought, and this might affect the process of food in general. But for now, our baseline shows that the inflation remains around 5%,” Governor Rwangombwa stated.
He added, “With these projected economic fundamentals, the monetary policy committee decided to reduce the monetary policy rate by 50 basis points to 7% from 7.5%, which we had since the last quarter.”
The decision to reduce the country’s monetary policy rate is expected to make borrowing more affordable compared to last year, encouraging increased spending and investments.
The headline inflation rate in Rwanda has declined steadily since January 2023 when the rate stood at 20.7 per cent. By the end of the first quarter of 2023, the inflation rate had dropped to 19.3 per cent.
In April 2023 the inflation rate dropped to 17.8 per cent and declined further to 14.1 in May. By the end of July 2023 the rate was at 11.9 per cent.
In August the rate increased slightly to 12.3 per cent and 13.9 per cent by the end of September. Since then the rate has been on a downward trend hitting 11.2 per cent in October, 9.2 per cent in November, 6.4 per cent in December, 5.4 per cent in January 2024, 4.9 per cent in February and 4.2 per cent in March.
Speaking during a recent interview with Al Jazeera Net, Makolo said there are more than 200 illegal militia groups in the country that continue to pose a security threat to Rwanda, especially in the eastern part of DRC.
Makolo explained that the militia includes FDLR group which comprises remnants of the Interehamwe group that fled to Congo after committing the 1994 Genocide against the Tutsi in Rwanda.
She said the group, comprising former military officials in Rwanda, fled to the DRC with army weapons and attempted several times to destabilize the Rwandan Patriotic Front (RPF) administration that overthrew the genocidal regime.
“Let’s go back to 1994. There were militias that committed genocide against the Tutsis here in Rwanda and then fled to the Congo with their weapons, and the French forces allowed them to cross with these weapons… All the weapons they were using here were taken with them, and they were allowed to keep them in refugee camps in the Democratic Republic of the Congo,” she said.
Makolo lamented that the militia group had for many years used Rwandan civilians as human shields in refugee camps under the watch of the international community.
“For years after the genocide against the Tutsis, these Rwandan civilians were hostages of the former army and the militias, now known as the Democratic Forces for the Liberation of Rwanda.
“In the late 1990s, these groups resumed their attacks on Rwanda, and there is evidence of France’s involvement in supporting them with weapons. However, the Rwandan army managed to push them back and thwart their attacks,” she stated.
According to the official, Rwanda has done everything possible to show the international community that the situation in the eastern DRC was serious, however little has been done to get to the bottom of the problem.
“We started efforts to convince the international community of the need to support Rwanda in repatriating the refugee civilians to their homeland, instead of leaving them trapped as hostages in camps controlled by armed groups. We had to carry out an operation in the late 1990s and succeeded in bringing back more than two million civilians to Rwanda, some of whom are now deputies and ministers,” Makolo stated.
“These militias not only pose a significant security threat to us at our borders but also represent an ideological threat advocating the extermination of the Tutsi ethnicity. This ideology is a continuation of the genocide that occurred here in 1994.”
She insisted that the international community had not learnt any lessons from the 1994 atrocities committed by the groups in Rwanda and revealed efforts by the government to build a strong professional army to protect its people.
“Unfortunately, they have not learned the lesson. We have come to realize that we are on our own and must do our utmost with the resources we have to ensure the security of our communities and nations.
“For this reason, we have worked to build a professional and strong army. We also cooperate with regional countries. The lesson we learned is that we must do everything we can and not rely on an international community that has not learned the lesson,” the spokesperson said.
Makolo emphasized that different methods have been used to solve the problems between Rwanda and DRC, but Congolese leaders lack the political will.
“There have been several attempts to succeed in political paths, including what was called the Luanda Roadmap, or the Luanda Protocol, or the Luanda Process, but they all lacked the political will to implement them from the republic’s side. There was a second path through what is called the Nairobi Process.
“The Nairobi Process involves disarming illegal armed groups in the eastern republic, demobilizing them, or integrating them into the army and society. However, this path has stalled. There are also attempts to support the state in reforming its security sector. All these initiatives are essentially political processes, but the Democratic Republic of the Congo is determined to take a military path, which is impossible.”
According to the organization, which has been tracking Africa’s most admired brands for the last 14 years, despite 64% of Africans expressing confidence in the continent, they remain loyal to non-African brands.
The top five most admired African brands in 2024 are South African telecommunications group MTN, Nigerian conglomerate Dangote, Zambian consumer group Trade Kings, Nigerian telecommunications group Glo, and South African media group DStv, along with Ethiopian Airlines.
MTN Group, headquartered in Johannesburg, was ranked eleventh among the top 100 most preferred brands on the continent for the second year in a row, behind some of the world’s biggest brands that have dominated the market for decades.
Nike from the United States, Adidas (Germany), Samsung (South Korea), Coca-Cola (USA) and Apple (USA) all retained their positions for the fifth consecutive year as the top five most admired brands in Africa.
Other top 10 brands are Gucci (Italy), Toyota (Japan), Tecno (China), Zara (Spain) and Puma (Germany).
MTN, Coca Cola and UN/UNICEF were also recognised as leaders in “doing good for society and environment”.
South Africa (5) and Nigeria (5), along with Ethiopia (1), Zambia (1), Zimbabwe (1), and Tanzania (1), are the only six African nations that make up the 14% share of the top 100 brands.
Europe retained its 37% share of the top 100, while North America declined by 12.5% to 28%, and Asia grew its share by 23.5% to capture 21% of the African market.
“While the share of African brands remain a disappointing 14%, with Africans overwhelmingly believing that mostly Africa will contribute to a better Africa, as nations continue to create an enabling environment for African entrepreneurs and the AfcFTA opportunity is realized, it’s just a matter of time, but ultimately the share of African brands will increase,” said Thebe Ikalafeng, founder and chairman of Brand Africa.
Here is the full list of the top 100 brands in Africa by consumer taste:
Speaking during the Zimbabwe-Rwanda mid-term review meeting of the 2nd Joint Permanent Commission on Cooperation, which kicked off in Harare on Monday, Rwanda’s Ambassador to Zimbabwe, James Musoni, said the two countries had achieved commendable progress on various Memoranda of Understanding (MoUs) signed in recent years.
“Today, as we review our achievements and challenges, I am pleased to report that our joint endeavours have yielded remarkable results in various key sectors for example in the political and diplomatic sector, our relations have grown to a remarkable level, where both countries support each other in regional, continental and international matters of common interest,” Ambassador Musoni affirmed.
The ambassador also lauded partnerships in the education sector where more than 150 teachers and lecturers from Zimbabwe have been in Rwanda reinforcing the local teaching working force for about two years.
“We have also recorded remarkable achievements in our Defence and Security sector, there have been exchanges and training of senior and Junior officers in the army, and correctional service,” Musoni added.
In the energy sector, the ambassador said, Rwanda Energy Group (REG) and Zimbabwe Electricity Supply Authority (ZESA) had completed the pilot street lighting project in Harare and also finalized the access masterplan advisory services as outlined in the MoU signed in 2020.
Additionally, in the trade and Investment sector, both countries have been hosting the business forum on a rotation basis.
“The recent [business forum] took place in Rwanda in March 2024 and a number of businesses are being established in both countries as a result of the excellent cooperation between our sisterly nations,” he added, further emphasizing the need to use the JPCC as a stepping stone to further collaborate at the regional and global levels.
Albert Ranganai Chimbindi, the Zimbabwean Secretary for Foreign Affairs and International Trade, said the meeting was aimed at assessing the progress of work on the decisions made during the 2nd Session of our JPCC, which was held in May 2023.
Chimbindi praised the remarkable strengthening of ties between Zimbabwe and Rwanda over the past four years.
“Allow me to acknowledge the excellent bilateral relations that subsist between the Republic of Zimbabwe and the Republic of Rwanda. I am pleased to say that since we embarked on the journey of our Joint Permanent Commission on Cooperation in 2020; our relationship continues to grow from strength to strength. In addition, the continued engagements by our two Presidents at various fora and the continued exchange of high-level visits, testify to our blossoming relationship,” Chimbindi stated.
He added, “I do acknowledge, with satisfaction, the positive discourse that is taking place in the Political and Diplomatic, Defence and Security Cluster. I am particularly impressed by the continued collaboration in our Political and Diplomatic Consultations, where parties continue to support each other on bilateral, continental and international issues of mutual concern and interest.”
The 59th Annual Meeting of the Board of Governors of the African Development Bank and the 50th Meeting of the Board of Governors of the African Development Fund will take place at the Kenyatta International Conference Center in Nairobi, Kenya, from May 27 to 31, 2024.
President Kagame is scheduled to participate in a presidential dialogue on Wednesday, May 29, on the topic “Africa’s Transformation, the African Development Bank Group, and the Reform of the Global Financial Architecture.”
The discussions will also feature Presidents William Ruto (Kenya), Faure Essozimna Gnassingbé (Togo), Emmerson Dambudzo Mnangagwa (Zimbabwe), and Joseph Nyuma Boakai (Liberia).
Other participants include Mohamed Younis Menfi, President of the Presidential Council of the State of Libya, Joaquim Alberto Chissano, the former President of Mozambique, and Moussa Faki Mahamat, Chairperson of the African Union Commission.
The panel discussion will follow the opening speech by Akinwumi Adesina, the president of the African Development Bank Group, and a keynote address by Muhammad Al Jasser, the chairman of the Islamic Development Bank.
During the dialogue, the leaders are expected to share their experiences on Africa’s transformation, financing Africa’s transformation, and present actionable strategies, policies, and interventions to fast-track the transformation of their countries for the benefit of their citizens.
“Financing Africa’s transformation is intimately intertwined with the need for reform of the global financial architecture. As Africa’s premier financial institution, the African Development Bank has a crucial role to play in driving the continent’s voice in these discussions,” ADB said in a statement.
The Annual Meetings comprise Member States’ invitation-only sessions, closed bilateral meetings, as well as events open to all attendees, including the press. They provide a forum for Bank Group Governors to share their experiences with managing a mounting burden of public debt, which has surged following the global economic shocks of the last few years.
The meetings also offer a forum for the delegates to examine the African Development Bank’s contribution to Africa’s socio-economic transformation.
About 3,000 delegates are expected at the event. The attendees include representatives of bilateral and multilateral development agencies, leading academics and non-governmental organizations, civil society, and the private sector.
Speaking during a recent interview with IGIHE, Musa maintained that the conflict in Sudan was not about the two army generals, General Abdel Fattah al-Burhan, head of the Sudanese Armed Forces, and Mohamed Hamdan Dagalo, aka Hemeti, the leader of the Rapid Support Forces (RSF).
“I would like to correct the narrative that this is not a war between two generals. It is a war between the RSF against the sovereignty of the political independence and people of the country,” he stated.
The war in Sudan erupted in April 2023. It stemmed from a power struggle within the military. According to the United Nations (UN), over 12,000 people have died, and more than 33,000 have been injured as a result of the conflict.
Musa noted that the RSF militia enjoys huge support from machinery recruited from neighbouring countries with backing from a regional power and other foreign actors with interests in Sudan.
“They have recruited mercenaries from neighbouring countries. We have more than 40,000 of these troops coming from Niger, Chad, and the Arab nomads from these countries. Some are coming from South Sudan and Ethiopia. There are some Ethiopians fighting with them. We don’t know whether this is with the permission or knowledge of the government of Ethiopia, but I deny that it is known to the government. Most of these mercenaries were fighting in Libya before. They have moved them all to Darfur. Their ethnic background is Arab nomads. Recruiting mercenaries is one of the main chains of supply for the troops to fight,” he added.
Musa lamented that military supplies from the third parties had prolonged the crisis, perpetuating the suffering of the Sudanese people.
“There is a military supply coming from a regional power that is well-documented in the UN Security Council report. Just five days ago, Human Rights Watch published a detailed report on the atrocities committed by the RSF, including war crimes and crimes against humanity.
“There is political support from the regional power as well. So, it’s not about the RSF as an independent political and military power. No. They are an agent for a regional power, carrying out their objective to change the political landscape and leadership in Sudan for the benefit, support, and interest of another regional power,” Musa noted.
To end the conflict that has seen the United Arab Emirates (UAE) mentioned severally amid the raging crisis, the ambassador emphasized that the Sudanese government was ready to engage foreign powers with interests in the country’s rich natural resources through proper channels, urging them not to use the window while the doors were wide open.
“They can help stop this war by halting military support and promoting political support. They can create regional peace and stability, but due to political and strategic interests… Sudan is a very rich country in terms of natural resources and geopolitical location. There are many people and countries interested in engaging in Sudan, but there are proper channels for governments to cooperate for mutual interests. If we open the door for you to come, why would you want to go through the window? We would like them to knock on the door, not jump through the window,” the envoy averred.
He emphasized that RSF can’t win the war because they don’t have the “minds and hearts of the people of Sudan.”
“They do not have the hearts of the people of Sudan. Now they control four parts of Darfur and the parts they control are still empty, there is no leadership, there is no food, there are no clinics, there are no schools, there is nothing,” he added.
He acknowledged that the African Union (AU) has the capacity to address the conflict in Sudan, but claimed that they lack the political will.
“To be honest, they are lacking political will and not capacity to contribute to peace and stability in Sudan,” he stated.
Musa further maintained that the Sudanese government had not refused dialogue with the RSF, stating that the government is seeking discussions based on previous agreements. He urged the militia to abide by the demands of the citizens, to cease hostilities against civilians, and to disarm.
