Category: Economy & Policy

  • Ebonyi Govt offers free CAC registration for small businesses

    Ebonyi Govt offers free CAC registration for small businesses

    ABAKALIKI, Nigeria (NPA) — The Ebonyi State Government has launched a programme to support small and medium-scale businesses in the state by providing free registration with the Corporate Affairs Commission (CAC).

    The initiative is aimed at helping businesses operating informally to obtain legal recognition and gain access to opportunities such as finance, grants and other sector-specific funding provided by the state, Federal Government and international development partners.

    The intervention is expected to strengthen the formal business structure in the state, improve access to funding and contribute to the growth of Ebonyi’s economy and Gross Domestic Product (GDP).

    According to a flyer announcing the scheme, released on Sept. 4 by Leo Ekene Oketa, Special Assistant to the Governor on New Media, the initiative is titled “Get Free CAC Registration: Taking Ebonyi Businesses from Informal to Formal.”

    The programme is being implemented through the Ebonyi State Small and Medium Enterprises Development Agency (EBSMEDA).

    The statement said the initiative was designed to give entrepreneurs a stronger foundation to operate, access opportunities and grow their businesses with greater confidence.

    “Starting and growing a business is easier when the right support is available. That is why the Ebonyi State Government, through EBSMEDA, is once again providing FREE CAC registration for businesses in the State.

    “Simply, this is formalising a business, giving entrepreneurs a stronger foundation to operate, access opportunities and grow with greater confidence.

    “It is another practical intervention by the administration of Governor Francis Ogbonna Nwifuru to remove some of the barriers facing Ebonyi entrepreneurs and make it easier for small businesses to thrive,” the statement said.

    The scheme is open to entrepreneurs and businesses seeking to register as a Limited Liability Company (LLC).

    Applicants are required to provide a passport photograph, a valid means of identification such as NIN, international passport, driver’s licence or voter’s card, as well as a scanned signature.

    Applicants must also provide their full name, date of birth, gender, phone number, residential address, Local Government Area and state of origin, email address, occupation and NIN.

    For company registration, applicants are required to provide three proposed business names, business address and state, nature or description of the business and shareholding structure, where applicable.

    The state government said the intervention reflected its commitment to removing barriers to entrepreneurship and creating an enabling environment for businesses to thrive.

    “A government that supports business is a government investing in the people,” the statement said.

    It added that the initiative was being implemented under the People’s Charter of Needs of the Nwifuru administration.

    Interested entrepreneurs have been directed to visit the Staff Development Centre, behind St. Patrick’s Catholic Church, Abakaliki, for further enquiries.

  • Nigeria’s economy grows 4.43% in Q2, government eyes $1 trillion GDP by 2030

    Nigeria’s economy grows 4.43% in Q2, government eyes $1 trillion GDP by 2030

    ABUJA, Nigeria (NPA) — The Federal Government has said Nigeria’s economy is accelerating and remains on track towards its target of building a $1 trillion economy by 2030, following stronger economic growth in the second quarter of 2026.

    According to a statement issued on Tuesday by the Federal Ministry of Finance, Nigeria’s real Gross Domestic Product (GDP) grew by 4.43 per cent year-on-year in the second quarter of 2026.

    The figure represents an increase from the 4.23 per cent growth recorded in the corresponding period of 2025 and 3.89 per cent recorded in the first quarter of 2026.

    The ministry said the strong second-quarter performance lifted Nigeria’s real GDP growth for the first half of 2026 to 4.16 per cent, compared with 3.68 per cent recorded during the same period in 2025.

    It described the performance as evidence of sustained strengthening across the economy.

    “Growth is also becoming more broad-based,” the ministry said.

    “In Q2 2026, 27 economic subsectors recorded real growth above 3.0 per cent, up from 23 subsectors in Q2 2025, showing that expansion is no longer concentrated in a handful of industries.”

    The productive sectors recorded significant improvements during the period, with manufacturing expanding by 3.24 per cent, more than double the 1.60 per cent recorded in the second quarter of 2025.

    Agriculture grew by 4.39 per cent, compared with 2.82 per cent during the corresponding period of the previous year, while the services sector, Nigeria’s largest driver of economic growth, expanded by 4.60 per cent, up from 3.94 per cent.

    The ministry also attributed part of the improvement in the economy’s value in dollar terms to the relative stability and appreciation of the naira.

    According to the statement, the naira appreciated by more than 12 per cent between the first half of 2025 and the first half of 2026, contributing to an estimated 17 per cent expansion of the Nigerian economy in U.S. dollar terms over the period.

    The ministry said that if the momentum is sustained, alongside the Federal Government’s social programmes, it could strengthen dollar incomes, improve purchasing power and help lift millions of Nigerians out of poverty.

    “Given this momentum, Nigeria is well positioned to consolidate its standing among Africa’s largest economies and to advance toward the Government’s target of a USD 1 trillion economy by 2030,” the ministry said.

    The ministry added that the International Monetary Fund had ranked Nigeria among the top 10 contributors to global real GDP growth in 2026, projecting the country to account for about 1.5 per cent of global growth during the year.

    It said continued macroeconomic stability, sustained growth across productive sectors and improving investor confidence could further accelerate Nigeria’s economic expansion.

    “These results underscore the importance of sustaining our reforms and ensuring policy consistency as their benefits begin to reach households across the country,” the ministry said.

    “The Government remains focused on accelerating inclusive growth and translating these macroeconomic gains into shared prosperity for every Nigerian family.”

    According to the ministry, sustained progress could also strengthen Nigeria’s ambition to become Africa’s largest economy by 2028.

  • CBN says Nigeria record $947m remittance inflows in July

    CBN says Nigeria record $947m remittance inflows in July

    ABUJA, Nigeria (NPA) — The Central Bank of Nigeria (CBN) says the country recorded $947 million in remittance inflows through International Money Transfer Operators (IMTOs) in July 2026, marking the highest monthly inflow ever recorded through formal remittance channels.

    The Governor of the Central Bank of Nigeria, Olayemi Cardoso, disclosed this in a statement issued by the bank’s Corporate Communications Department on Sunday in Abuja.

    Cardoso said the July inflow moved Nigeria closer to the CBN’s target of achieving $1 billion in monthly remittances through formal channels.

    According to him, total inflows through IMTOs reached $3.8 billion in the first seven months of 2026, representing a 50.2 per cent increase compared with the corresponding period in 2025.

    He attributed the growth to a series of reforms introduced by the apex bank to make formal remittance channels more competitive, transparent and accessible.

    The reforms, he said, include the transition to a more market-determined exchange rate, changes to the regulatory framework governing International Money Transfer Operators and the introduction of the Non-Resident Bank Verification Number (NRBVN).

    The CBN Governor added that the bank had also increased its engagement with IMTOs, commercial banks and Nigerian communities in the diaspora to encourage the use of formal channels for remittances.

    “More recently, the CBN has strengthened requirements for remittance transactions to be routed through designated settlement accounts with authorised dealer banks,” Cardoso said.

    He noted that the importance of the rising inflows extended beyond the record monthly figure.

    According to him, increased remittances through formal channels would improve foreign exchange liquidity and transparency, support households and investments and strengthen Nigeria’s external financing position.

    “When we set a clear ambition to reach one billion dollars a month in remittance inflows through formal channels nearly two years ago, some people thought we were dreaming,” Cardoso said.

    “At $947 million in July, we are now approaching that milestone.”

    Cardoso said the CBN was focused on sustaining the broader growth trajectory rather than concentrating on individual monthly figures, which could fluctuate.

    He said the significant increase recorded in the first seven months of 2026 demonstrated the growing impact of reforms aimed at strengthening Nigeria’s formal remittance system.

    The CBN, he added, would continue to deepen its engagement with Nigerian diaspora communities and financial-sector partners across major remittance corridors.

    “As part of its wider international engagements, the Bank will continue to use opportunities in major global financial centres to engage diaspora communities, IMTOs, banks and other stakeholders,” he said.

    “This is to reduce friction, widen access and bring a greater share of remittance flows into formal channels.”

    Cardoso said the CBN remained focused on creating the conditions necessary for sustained growth in remittance inflows, expressing confidence that Nigeria could reach and eventually maintain monthly remittances above $1 billion.

    “July is an important marker, but our focus is not on a single month. It is on creating the conditions for sustained growth in formal remittances,” he said.

  • Botswana begins child support grant payments for eligible families

    Botswana begins child support grant payments for eligible families

    GABORONE, Botswana (NPA) — The Government of Botswana has commenced payments under its Child Support Grant (CSG) programme, with eligible beneficiaries beginning to receive the monthly allowance and all outstanding arrears.

    The Ministry of Local Government and Traditional Affairs announced the rollout on Monday, describing the initiative as a major social protection programme aimed at supporting low-income households with children during the critical first year of life.

    According to the ministry, approved beneficiaries have started receiving the P300 monthly Child Support Grant, alongside arrears accrued from the programme’s effective commencement date of April 1, 2026.

    The government said the payment of arrears reflects its commitment to ensuring that every eligible child receives the full support due under the implementation schedule.

    The Child Support Grant targets children below the age of one year, providing financial assistance to vulnerable families to help meet their children’s basic needs during the first 12 months of life.

    The ministry noted that the programme is designed to improve child health, nutrition and early childhood development, recognising the first year of life as a critical period for brain development, physical growth and long-term wellbeing.

    According to the statement, the initiative represents the government’s broader commitment to investing in children’s welfare while strengthening Botswana’s social protection system.

    The ministry advised beneficiaries not to rush to post offices or designated payment centres on the first day of disbursement, assuring them that funds would remain available throughout the payment period.

    It encouraged recipients to collect their grants at any convenient time during the month to prevent overcrowding at payment centres.

    Beneficiaries were also urged to comply with instructions issued by payment officials, present the required identification documents when collecting their grants and direct payment-related enquiries to the nearest Social and Community Development Office.

    The ministry expressed appreciation to the public for their patience and cooperation during the implementation of the Child Support Grant programme.

    It reaffirmed the Botswana government’s commitment to expanding and strengthening social protection programmes aimed at improving the welfare of children, families and communities across the country.

    The ministry advised members of the public seeking additional information to contact their nearest Social and Community Development Office.

  • JUST IN: Kenya’s Omollo says sovereign wealth fund and nuclear project will drive long‑term growth

    JUST IN: Kenya’s Omollo says sovereign wealth fund and nuclear project will drive long‑term growth

    NAIROBI, Kenya (NPA) — Kenya’s Principal Secretary for Internal Security and National Administration, Raymond Omollo, has said the country’s newly established Sovereign Wealth Fund is designed to preserve revenues from natural resources for future generations while supporting long-term economic stability and strategic investments.

    Omollo made the remarks in a statement on Sunday as he outlined the government’s plans to maximise the economic benefits of Kenya’s mineral resources and strengthen the country’s energy infrastructure.

    According to him, the Sovereign Wealth Fund will receive a portion of revenues generated from natural resources, including minerals and petroleum, to build national savings and finance strategic investments.

    “The recently established Kenya Sovereign Wealth Fund is designed to preserve a portion of revenues generated from the country’s natural resources, including minerals and petroleum, for the benefit of future generations while supporting long-term economic stability and strategic investments,” Omollo said.

    He noted that Siaya County, which is endowed with mineral resources and hosts ongoing gold mining activities, stands to benefit significantly from the initiative through increased investment, economic growth and job creation.

    “For the people of Siaya County, the Fund holds considerable promise. The county is endowed with mineral resources, including ongoing gold mining activities, whose future revenues could contribute to national savings while driving local economic growth and job creation,” he added.

    Omollo also disclosed that plans to construct Kenya’s first nuclear power plant in Siaya County continue to advance.

    According to him, the project is expected to strengthen the country’s energy security by providing a stable and reliable electricity supply to support industrial growth and economic transformation.

    “At the same time, plans to develop Kenya’s first nuclear power plant in Siaya County continue to gather momentum. The project is expected to strengthen the country’s energy security, provide reliable electricity for industry and accelerate Kenya’s broader industrialisation agenda,” he said.

    The Kenyan government has identified energy security, industrialisation and the sustainable management of natural resource revenues as key pillars of its long-term economic development strategy.

  • South Africa defends withholding funds from 69 municipalities over financial mismanagement

    South Africa defends withholding funds from 69 municipalities over financial mismanagement

    PRETORIA, South Africa (NPA) — South African Finance Minister Enoch Godongwana has defended the government’s decision to withhold the July 2026 equitable share allocations to 69 municipalities, saying the move is aimed at enforcing financial discipline, ensuring compliance with the law and improving service delivery.

    Godongwana made the remarks on Friday during a media briefing after the National Treasury announced that the affected municipalities had failed to meet key financial and governance obligations.

    According to the Treasury, the municipalities were sanctioned for adopting unfunded budgets, accumulating unauthorised, irregular, fruitless and wasteful expenditure (UIFWE), and failing to meet statutory payment obligations to entities including Eskom, water boards, the South African Revenue Service (SARS), the Auditor-General and pension funds.

    “We have been doing it every year, but on a smaller scale. Of this size, we last did it in 2016,” Godongwana said.

    “Every year, we are fighting with municipalities. Sometimes we take money from one municipality to another because a municipality is not performing. It is precisely this that will enhance service delivery because we are forcing municipalities to perform.”

    The minister explained that the withholding of funds is temporary and that municipalities could regain access to their allocations once they demonstrate credible plans to address the deficiencies identified by the Treasury.

    He said municipalities with unfunded budgets would be required to work with Treasury officials to develop sustainable funding plans, while those owing creditors must submit realistic repayment schedules.

    For municipalities with high levels of unauthorised, irregular, fruitless and wasteful expenditure, Godongwana said Municipal Public Accounts Committees (MPACs) must review the findings of the Auditor-General, recommend corrective measures and ensure appropriate consequence management.

    He disclosed that some municipalities had already complied with Treasury requirements and would have all or part of their equitable share released next week.

    The minister stressed that broader government reforms would only succeed if all public institutions embraced accountability and improved performance.

    “Reforms must be accompanied by making sure that people are performing. If you have reforms and you don’t have willing partners to participate, the reforms are not going to be effective,” he said.

    In a statement, the National Treasury described the state of municipal finances as “sobering.”

    The Treasury said municipalities had accumulated R24.12 billion in fruitless and wasteful expenditure since the 2021/22 financial year, R145.21 billion in irregular expenditure, including R40.14 billion recorded in 2024/25, and R118.13 billion in unauthorised expenditure.

    According to the Treasury, the growing financial mismanagement threatens the sustainability of essential service providers, disrupts basic services and weakens public confidence in local government.

    “South Africans deserve municipalities that are financially sound, accountable and capable of delivering services. By invoking the Constitution, we are signalling seriousness about governance, fiscal responsibility and the rule of law,” Godongwana said.

  • Ghana settles $700 million Eurobond debt ahead of schedule

    Ghana settles $700 million Eurobond debt ahead of schedule

    ACCRA, Ghana (NPA) — Ghana’s Ministry of Finance has announced the full settlement of a $700 million Eurobond debt obligation ahead of schedule, marking another milestone in the country’s debt servicing programme.

    In a statement issued on Monday, the ministry said the payment comprised $525.2 million in principal repayments and $174.8 million in interest payments.

    According to the ministry, the latest payment brings Ghana’s total Eurobond debt servicing to $2.1 billion since January 2025, in line with the terms of the country’s Eurobond Debt Exchange Programme.

    The ministry said the payment was executed through the government’s planned financing arrangements without placing undue pressure on Ghana’s foreign exchange reserves.

    It noted that the settlement would reduce the country’s outstanding Eurobond debt, strengthen investor confidence and reinforce the government’s commitment to prudent debt management and macroeconomic stability.

    “The Ministry of Finance will continue to implement sound public financial management practices to ensure the timely servicing of Ghana’s debt obligations,” the statement said.

    The ministry also expressed appreciation to Ghanaians for their continued patience, support and confidence as the government pursues its economic recovery and debt sustainability agenda.

  • ICYMI: Tinubu flags off major road construction projects in North-Central

    ICYMI: Tinubu flags off major road construction projects in North-Central

    ABUJA, Nigeria (NPA) — National Chairman of the All Progressives Congress (APC), Prof. Nentawe Goshwe Yilwatda, on Thursday represented President Bola Ahmed Tinubu at the official flag-off of the construction of the Akwanga–Jos–Bauchi–Gombe–Maiduguri Highway in Akwanga, Nasarawa State.

    Yilwatda also represented the President at the commissioning of a flyover, modern streetlights and several kilometres of roads completed by the administration of Nasarawa State Governor, Abdullahi Sule, in Akwanga.

    In a separate engagement, the APC National Chairman represented President Tinubu at the flag-off of the rehabilitation of the Babban Lamba–Sharam Phase II Road in Kanke Local Government Area of Plateau State.

    He described the road project as a strategic investment that would improve connectivity, boost economic activities and strengthen security across the corridor.

    “This important road project is more than infrastructure; it is a strategic investment that will connect communities, stimulate businesses, shorten travel distance by more than 100 kilometres, create jobs, and improve the security of the corridor through the deployment of modern technology, street lighting and police stations,” Yilwatda said.

    He conveyed President Tinubu’s commitment to accelerating infrastructure development across the North-Central region, noting that the administration is currently executing 61 federal road projects in the zone.

    According to him, the President’s four flagship legacy infrastructure projects are designed to connect all six geopolitical zones and promote inclusive national development.

    Yilwatda also commended the host communities for their support and urged the contractor handling the Babban Lamba–Sharam road project to complete the work on schedule while prioritising the employment of local residents.

    He noted that the project holds special historical significance, being the birthplace of the former Head of State, General Yakubu Gowon.

    The APC chairman expressed appreciation to traditional rulers and residents for what he described as the warm reception accorded to President Tinubu during the events.

    He reaffirmed the Federal Government’s commitment to delivering critical infrastructure that promotes economic growth, improves transportation and enhances the quality of life of Nigerians.

  • BREAKING: Tinubu launches training programme for 5,000 youths under Presidential Metering Initiative

    BREAKING: Tinubu launches training programme for 5,000 youths under Presidential Metering Initiative

    ABUJA, Nigeria (NPA) — President Bola Ahmed Tinubu has announced a new skills acquisition programme that will train 5,000 young Nigerians, including members of the National Youth Service Corps (NYSC), as meter installers and technicians under the Presidential Metering Initiative (PMI).

    The President, in a statement titled “Jobs for Our Young People Remain Central to Our Renewed Hope Agenda,” said the initiative forms part of his administration’s efforts to create employment opportunities while addressing Nigeria’s electricity metering deficit.

    According to Tinubu, the Presidential Metering Initiative was established to bridge the country’s metering gap, eliminate estimated billing, protect electricity consumers and strengthen the nation’s power sector.

    “Through the Presidential Metering Initiative (PMI), which I established to close Nigeria’s metering gap, end estimated billing, protect consumers and strengthen the electricity market, we are opening a new pathway for 5,000 young Nigerians to be trained as meter installers and technicians under The Power Force,” the President said.

    He described the programme as more than a job creation initiative, saying it is designed to equip young Nigerians with practical technical skills that will prepare them for sustainable employment.

    “This programme is about jobs, skills and dignity,” Tinubu said.

    “It will equip young Nigerians with practical technical skills and connect them to real work in a sector that touches every home, every business and every community in our country.”

    The training programme is open to eligible Nigerians who have completed their secondary school education, with a dedicated quota reserved for members of the National Youth Service Corps.

    The President noted that expanding access to electricity meters remains a key component of his administration’s power sector reform agenda.

    According to him, proper metering will ensure consumers pay only for the electricity they use while improving transparency and efficiency in electricity distribution.

    “When homes and businesses are properly metered, Nigerians can pay for what they actually use. When electricity distribution companies collect revenues more transparently and fairly, they are better able to reduce losses, maintain infrastructure, expand connections and invest in better service,” he said.

    Tinubu added that the initiative would contribute to building a more efficient and sustainable electricity market that benefits both consumers and investors.

    “This is how we build a power sector that is fairer to consumers, stronger for investors and better able to deliver reliable electricity to the Nigerian people,” he said.

    The President disclosed that he has directed the Presidential Metering Initiative to work with the Federal Ministry of Youth Development, the National Power Training Institute of Nigeria (NAPTIN) and other relevant stakeholders to commence the programme within the next 30 days.

    He encouraged eligible young Nigerians to apply for the training via http://pmi.naptin.gov.ng

    “Join The Power Force. Learn a skill. Earn with dignity. Help us end estimated billing and be part of the work to light up Nigeria,” Tinubu said.

  • JUST IN: Kenya approves sweeping payroll reforms, AI strategy and major infrastructure investments

    JUST IN: Kenya approves sweeping payroll reforms, AI strategy and major infrastructure investments

    NAIROBI, Kenya (NPA) — Kenya’s Cabinet has approved far-reaching reforms to eliminate payroll fraud, strengthen public financial management, accelerate digital transformation and boost infrastructure development as part of a broad agenda to improve governance and stimulate economic growth.

    The decisions were taken during a Cabinet meeting chaired by President William Ruto at State House, Nairobi, on Tuesday.

    A major highlight of the meeting was the approval of a comprehensive government-wide payroll reform programme following an audit that uncovered suspected payroll irregularities amounting to KSh6.2 billion in just 12 of the country’s 53 state departments.

    According to the Cabinet, the audit exposed unauthorised alterations to payroll records, irregular salary payments, weak oversight of statutory deductions and fragmented payroll management systems.

    To address the irregularities, the Cabinet directed the Directorate of Criminal Investigations (DCI) to investigate the suspected fraud, dismantle criminal networks manipulating government payroll systems, verify payroll identification numbers, recover stolen public funds and prosecute all those found culpable.

    The government also approved a nationwide payroll audit covering all remaining ministries, departments, agencies and state corporations.

    Under the reforms, all public institutions will migrate to a revamped Integrated Human Resource and Payroll System, while cybersecurity will be strengthened through enhanced data validation, payroll cleansing, disaster recovery systems and integration with other public financial management platforms.

    As part of efforts to reduce government expenditure, the Cabinet froze the leasing or hiring of additional office space pending a nationwide audit of public office utilisation.

    Authorities also approved a programme to renovate existing government offices to improve efficiency and service delivery.

    In another landmark decision, the Cabinet established a Standing Cabinet Committee on Artificial Intelligence to coordinate Kenya’s national AI strategy and position the country as a regional leader in the responsible development and adoption of artificial intelligence.

    The committee will oversee AI-driven innovation, productivity, public service delivery, job creation and inclusive economic growth while ensuring appropriate governance and regulatory safeguards.

    Complementing Kenya’s digital economy agenda, the Cabinet approved the National Business Process Outsourcing (BPO) Policy to position the country as a leading global outsourcing destination.

    The government said the policy is expected to create thousands of quality jobs for young people, attract international investment and enable Kenya to capture a larger share of the global BPO market, projected to exceed KSh68 trillion by 2030.

    The Cabinet also established an Ad Hoc Cabinet Committee on El Niño Preparedness and Response, chaired by Deputy President Kithure Kindiki, to coordinate national preparations for the moderate to strong El Niño rains forecast later this year.

    The committee will oversee flood mitigation measures, evacuation planning, drainage clearance, reinforcement of vulnerable roads and bridges, deployment of emergency equipment and medical supplies, farmer advisories and the establishment of a contingency fund for disaster response.

    On infrastructure, the Cabinet approved several strategic investments, including the KSh26 billion Judicial Performance Improvement Project Phase II, to be implemented in partnership with the World Bank.

    The project includes the construction of a new Supreme Court complex, a dedicated Court of Appeal, a consolidated tribunals and Judiciary administration complex, and a modern Kenya Judiciary Academy to improve access to justice and enhance investor confidence.

    The government also approved an additional KSh16.6 billion to complete the flagship Mwache Multipurpose Dam Project in Kwale County.

    Once completed, the dam will supply 186,000 cubic metres of water daily to Mombasa and Kwale counties, helping to address chronic water shortages, support irrigation, strengthen climate resilience and provide a reliable water supply for millions of residents.

    Cabinet equally approved additional financing for the Modogashe-Samatar and Rhamu-Mandera road sections under the 750-kilometre Isiolo-Mandera corridor to improve connectivity, boost trade and strengthen regional integration across northern Kenya and the Horn of Africa.

    In the health sector, the government approved the KSh7.8 billion second phase of the Kenya-Austria Mother and Child – Our Future Project, alongside the Mother and Child Lifeline Initiative, to modernise maternal and neonatal healthcare at Kenyatta National Hospital.

    The initiatives are expected to expand specialised healthcare services, strengthen the health workforce and improve outcomes for mothers and newborns.

    The Cabinet also approved the Kenya Children Policy 2025, the Protection Against Domestic Violence (Amendment) Bill 2026 and the report of the Presidential Technical Working Group on Gender-Based Violence and Femicide to strengthen support for survivors and improve protection for women, children and vulnerable families.

    To boost industrialisation, the government endorsed the KSh5.8 billion Leather Value Chain Development Support Project, expected to create up to 120,000 jobs while unlocking the sector’s estimated KSh120 billion economic potential.

    It also adopted the National Cotton, Textile and Apparels Policy to revive cotton production, expand textile manufacturing and attract private investment.

    On the international front, the Cabinet approved Kenya’s hosting of the Secretariat of the Alliance of African Multilateral Financial Institutions, reinforcing Nairobi’s position as a leading African financial and diplomatic hub.

    It also authorised negotiations on a long-term Economic Partnership for Shared Development with China to expand trade, investment and market access for Kenyan exports, while endorsing the ratification of several international agreements covering migrant workers, wildlife conservation and regional partnerships.