Africa's richest man, Aliko Dangote, has chosen Lamu County, Kenya, as the site for a proposed Sh2.2 trillion oil refinery. This massive project aims to significantly boost East Africa's petroleum processing capacity.

• The facility is slated to process 700,000 barrels of crude oil per day, making it the largest in East Africa.
• The project is spearheaded by Aliko Dangote, founder of Dangote Group.
• Construction is anticipated to take approximately five years, with the refinery intended to serve neighboring countries and reduce regional reliance on imported refined petroleum products.

As the world celebrated International Kiswahili Day, stakeholders are urging for increased attention and resources to promote the Swahili language.

• The article highlights the importance of Swahili as a unifying language in Africa.
• Key stakeholders, including educators and cultural leaders, are calling for greater recognition.
• The celebration serves as a reminder of the need for continued efforts in language development and preservation.

Delegates at the Adaptation Investment Summit for Africa concluded their two-day meeting in Nairobi with a unified call for increased and sustained financing for climate adaptation initiatives across the continent.

• The summit emphasized the urgent need for climate adaptation funding to bolster Africa's resilience.
• Key organizers included Kenya Climate Ventures.
• The gathering focused on fostering sustained collaboration to unlock vital financial resources.

Just months after the collapse of the controversial Adani deals, the Kenya Electricity Transmission Company (KETRACO) is reviving private power transmission deals worth up to KSh65 billion.

• The revival of the privately initiated proposal model comes shortly after the failure of previous deals.
• KETRACO is the key organization involved in initiating these new transmission projects.
• The total value of these anticipated projects is up to KSh65 billion, signaling a significant investment in private sector participation.

The Bank of Tanzania (BoT) has significantly boosted its foreign exchange reserves by purchasing approximately 28 tonnes of gold over the past 18 months.

• The gold purchases, amounting to 28 tonnes, support the Tanzanian Shilling's value and financial sector stability.
• The initiative was disclosed by BoT Governor Emmanuel Tutuba.
• This strategy also promotes the formalization of the mining sector and financial inclusion, with over 4,000 accounts opened for gold traders and miners.

Saudi Arabia’s Mabani Aljazeera Holding Group has acquired a minority stake in the Jabali Towers mixed-use development at Tatu City, signaling growing foreign investment in Kenya's real estate sector.

• Mabani’s subsidiary, Swan Properties, will acquire a 50 percent minus one share stake.
• Key figures involved include Mabani Group Chairman Abdullah AlMalki and Rendeavour Founder and Chief Executive Stephen Jennings.
• Jabali Towers features two towers within Tatu City Special Economic Zone, offering residential, retail, and commercial spaces, with the first tower over 80 percent sold.

Safaricom shareholders are set to vote on a proposal that would grant Vodafone Kenya the power to nominate the company's Chief Executive Officer following Vodacom's acquisition of a majority stake.

• Vodacom now holds 55% of Safaricom shares after purchasing Kenya's 15% stake for approximately $1.6 billion (Sh206.88 billion).
• The vote will occur at the upcoming Annual General Meeting on July 31.
• The proposed changes also stipulate that Vodafone Kenya and the Kenyan government can appoint directors based on their shareholding percentages.