The government is planning to extend the World Rally Championship (WRC) Safari Rally from a three-day sporting event to five days.

President William Ruto directed the Ministry of Sports to work with the International Automobile Federation (FIA) and the WRC to make this a reality.

“I think it is time to consider the request by drivers to return the rally to the five days it used to be,” said President Ruto.

He made the remarks on Thursday at the Kenyatta International Convention Centre in Nairobi during the flagging off of the 2024 WRC Safari Rally.

The President said the government is keen on using the opportunities provided by the WRC Safari Rally to drive economic growth.

He said the extensive worldwide media coverage of the rally will enhance Kenya’s global image and reputation.

He noted that this will not only attract tourists to the country but also investors, injecting billions of shillings into the economy and expanding opportunities for many people, especially those at the bottom of the economic pyramid.

“This will provide a major boost to our economy, increasing incomes for local businesses, and direct and indirect jobs, and attracting local and foreign tourism investment, catering, accommodation facilities and services.

The President said the rally is scheduled for the Easter holiday to encourage more Kenyans and visitors from around the world to participate in the event.

Distributed by APO Group on behalf of President of the Republic of Kenya.

The esteemed Permanent Secretary of the Ministry of Foreign Affairs, Mr. Bagiire Vincent Waiswa, hosted Her Excellency Signe Winding Alberg, Ambassador of Denmark to Uganda, at the Ministry’ of Foreign Affairs. During the cordial meeting, Ambassador Alberg conveyed to Permanent Secretary Bagiire Denmark’s forthcoming initiative to convene a gathering of African Foreign Ministers in Copenhagen. In elucidating Denmark’s strategic vision, Her Excellency emphasized the nation’s commitment to enhancing representation across the African continent. This endeavor aims at fostering enhanced collaboration in vital areas such as trade, investment, people-to-people relations, and development cooperation. Permanent Secretary Bagiire, reciprocating the Ambassador’s sentiments, expressed Uganda’s sincere appreciation for Denmark’s proactive engagement in strengthening ties with African nations. Affirming Uganda’s commitment to regional cooperation and multilateral engagement, Mr. Bagiire assured Ambassador Alberg of Uganda’s active participation in the forthcoming ministerial meeting in Copenhagen.

Furthermore, Ambassador Alberg underscored Denmark’s steadfast support for Uganda’s socio-economic development endeavors. Her Excellency highlighted the opportunities available through DANIDA, encouraging Ugandan stakeholders to leverage grant funding and forge partnerships to bolster the expansion of agri- businesses and related sectors. The meeting concluded on a note of optimism, with both dignitaries reaffirming their commitment to fostering enduring diplomatic relations and advancing mutual interests between Uganda and Denmark.

Distributed by APO Group on behalf of The Republic of Uganda – Ministry of Foreign Affairs.

Hon. John Mulimba, Minister of State for Foreign Affairs/Regional Affairs, held a meeting with Korean Government Representative for the Korea-Africa Summit 2024, Mr.Jung Kihong at the Ministry of Foreign affairs. The meeting focused on the preparations for the upcoming summit, which will be held in Seoul, South Korea, in June 2024. The summit aims to strengthen the partnership between Korea and African Countries in various areas, including trade, investment, infrastructure, and development. Minister Mulimba, welcomed the Korean delegation and expressed Uganda’s commitment to the success of the summit. He highlighted the strong ties between Uganda and Korea, which have been fostered through cooperation in areas such as technology, agriculture, health, education, and trade.

Hon. Mulimba hailed the significant role the 2024 Korea-Africa Summit will play in bolstering relations not just with Africa but with Uganda. Mr. Kihong thanked Minister Mulimba, for Uganda’s support and outlined the key priorities for the summit which will be to establish partnerships for shared growth, focus on trade, investment and technology exchange. He emphasized the need for African and Korean leaders to engage in meaningful dialogue on mutual areas of interest and stated that the Summit will provide an important platform for delegates and business people to discuss the future of partnerships with Korea and explore new avenues of cooperation.

The meeting between Minister Mulimba and Mr. Kihong sets the stage for a successful 2024 Korea-Africa Summit. The two sides expressed their commitment to working together to achieve the summit’s objectives and strengthen the bond between Uganda and Korea. Mr. Kihong was accompanied by officials from the Embassy of the Republic of Korea.

Distributed by APO Group on behalf of The Republic of Uganda – Ministry of Foreign Affairs.

The African Development Bank (www.AfDB.org) has signed a $75 million loan agreement with Nigeria’s Indorama Eleme Fertilizer and Chemicals Limited. The loan will enable Indorama to increase its fertilizer production and develop a port terminal for exports, supporting food production and food security across regional and international markets, while fostering job creation in Nigeria.

The expansion will include the development of a third urea fertilizer production line and a new shipping terminal at Indorama’s facilities in Port Harcourt. The new production line is expected to have an annual capacity of 1.4 million metric tons of urea, one of the most widely used fertilizers worldwide.

Indorama’s two operational urea fertilizer lines serve Nigeria’s domestic market, supporting the country’s agricultural sector, which accounts for a quarter of its GDP and employs about a third of its labor force. The new production line and terminal, which will help meet growing global demand for fertilizer, are expected to create up to 8,000 direct and indirect jobs in Nigeria.

“The African Development Bank is proud of its continued partnership with Indorama, the IFC and other lenders on this critical project as it is aligned with our strategic  strategic priorities (https://apo-opa.co/3VAaLMQ) to Feed Africa (https://apo-opa.co/3VBF85N) and Industrialize Africa (https://apo-opa.co/3xcwgcH) while generating significant development outcomes in Nigeria” said Ousmane Fall, Acting Director of Industrial and Trade Development Department at the African Development Bank.

Speaking on the development, Manish Mundra, Group Director for Africa, Indorama Corporation said, “The establishment of this fertilizer plant underscores Indorama’s unwavering commitment to Nigeria’s industrial growth, economic diversification, and leveraging its strategic geographic location. This landmark financing represents a pivotal moment in Nigeria’s journey towards becoming a major player in the global fertilizer market. With the addition of this third line, Nigeria is prepared to significantly ramp up its export capacity, thereby enhancing its position as a key exporter of fertilizers to Africa and the world. Furthermore, the establishment of this fertilizer plant will not only address critical issues such as broader food security but will also stimulate agricultural growth and create employment opportunities in Nigeria.”

The African Development Bank’s loan follows a strategy to support investment in private sector development to promote the growth of the real sector.

The $75 million senior loan is part of a $ 1.25 billion facility arranged by IFC. The financing package includes a $215.5 million loan from IFC’s own account, a $94.5 million loan through the Managed Co-Lending Portfolio Program (MCPP), and $940 million in parallel loans mobilized from other development finance institutions and commercial banks, such as the African Development Bank, Bangkok Bank, British International Investment, Citibank, Deutsche Investitions- und Entwicklungsgesellschaft (DEG), DZ Bank, Emerging Africa Infrastructure Fund (EAIF), Rand Merchant Bank, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), Export-Import Bank of India (India Exim Bank), Export-Import Bank of Korea (KEXIM), the Standard Bank Group, Standard Chartered Bank, and the United States International Development Finance Corporation (DFC).

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Contact:
Communication and External Relations Department
Email: media@afdb.org

About the African Development Bank Group:
The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 37 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org