To cement trade ties, boost investment flows and encourage tourism between Tanzania and China, Standard Bank and the Industrial Commercial Bank of China (ICBC) have launched the I Go Tanzania loyalty program in partnership with Tanzania Tourism Board.

This initiative, part of ICBC’s I Go Global rewards scheme for its card holders in China, was unveiled in Tanzania on 6th August 2019. It will capitalize on the growing appetite among Chinese travelers to visit Tanzania by offering a range of discounts and special offers from merchants across the travel, hospitality and lifestyle sectors, says Standard Bank’s group head of card and emerging payments across Africa in personal and business banking, Lincoln Mali.

“ICBC is the biggest bank in the world, with approximately 139 million credit cards and as many debit card customers,” says Mali, explaining the rationale behind the new loyalty program, which was designed by Standard Bank in partnership …

• Pullman Hotel Nairobi will begin operations in June 2024
• Kenya has 31 hotels with a total of 4,268 rooms in the pipeline with an average room size of approximately 138 square feet.
• Pullman Hotel Nairobi Upper Hill has similarly adopted the concept of “workspitality” under the co-working spaces brand WOJO.

French multinational hospitality group, Accor will unveil its first premium Pullman branded hotel in Kenya next month. This will add to Accor’s offering in the Kenyan market, which includes Fairmont the Nofolk and Mövenpick Hotel & Residences in Nairobi among others.

According to Pullman Hotels & Resorts Director of Sales and Marketing Susan Waringa, the Pullman Hotel Nairobi Upper Hill which is set to open its doors to guests in June this year will have 162 rooms offering premium hospitality.

“We’re excited about the opening of Pullman Hotel Nairobi Upper Hill, catering to the needs of the hyper-connected business and …

• Russian Investment Forum at AIM Congress 2024 highlighted Russia’s robust economic standing.
• Various Russian regions showcased unique investment opportunities, from the Far East’s oil and gas sector to Tatarstan’s diverse industries.
• Discussions also revolved around innovation and technology, with an emphasis on Abu Dhabi’s potential as a global technology hub.

Amidst the grandeur of the Abu Dhabi National Exhibition Centre (ADNEC), the Russian Investment Forum emerged as a unique centre of opportunities during the 2024 AIM Congress.

Under the International Partners’ Track, this forum brought together luminaries from Russia’s business landscape to showcase the nation’s unique investment propositions and affirm Abu Dhabi’s suitability as a global technology hub.

Spearheading the discussions was Sergey Katyrin, President of the Chamber of Commerce and Industry of the Russian Federation. Katyrin painted a picture of Russia’s robust economic stature, ranking first in Europe and fifth globally in terms of GDP.

He cited Russia’s …

• At AIM Congress 2024, ministers from around the world share insights and strategies for navigating economic challenges.
• Ministers highlight diverse approaches to investment attraction, ranging from leveraging emerging markets and fostering SMEs to offering incentives like tax exemptions and creating investment-friendly regulations.
• Global forum showcases a collaborative effort to drive economic growth, regional collaboration, and private sector involvement.

In a bustling convergence of minds at the ADNEC in Abu Dhabi from May 7th to 9th, the 2024 AIM Congress unveiled a remarkable event that captured the attention of global leaders—the Ministerial Roundtable on Investment.

This exclusive gathering under the Roundtables’ Track brought together a cadre of distinguished ministers from around the world to share insights and strategies in navigating the complexities of economic volatility, geopolitics, and the looming global economic slowdown.

H. E. Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, set the tone by underlining …

• UN Tourism calls for funding for women-led startups within the Middle East’s burgeoning tourism sector.
• UAE is increasingly becoming a regional leader in FDI inflows, underscoring Ab Dhabi’s emergence as a prime investment hub.
• Speakers at AIM Congress push for halal tourism, as well as initiatives to harness technology to elevate visitor experiences.

In the heart of Abu Dhabi, the AIM Congress 2024 witnessed a stirring convergence of global leaders, international organizations, and entrepreneurs, catalyzing discussions on pivotal issues shaping the tourism landscape.

Amidst the bustling ambiance of ADNEC from May 7th to May 9th, UN Tourism left an indelible mark with two insightful side events, spotlighting the empowerment of women entrepreneurs and navigating the intricate terrain of tourism investments in the Middle East.

On May 8th, UN Tourism orchestrated a dynamic session titled “Investing in Innovation and Enabling Women Entrepreneurs,” led by Ms. Basmah Al-Mayman, Regional Director of the …

• Kenya’s private sector enjoyed a much more stable business environment in April amid continued job creation in the market, with the country enjoying the lowest inflation in two years.
• Employment growth continues as the country’s economy remains on a growth trajectory.
• The headline PMI registered fractionally above the 50.0 neutral mark at 50.1 in April, up from 49.7 in March.

Kenya’s private sector enjoyed a much more stable business environment in April amid continued job creation in the market, with the country enjoying the lowest inflation in two years.

The latest Purchasing Managers’ Index by Stanbic Bank depicted broadly steady operating conditions across the sector during the month, as order book volumes and output levels have changed little since March.

The 12-month outlook continued to rebound sharply from February’s record low, and employment growth was maintained, as the country’s economy remained on a growth trajectory.

World Bank has projected Kenya’s …

• Torrential rains have caused terrible floods in Kenya, causing the death toll to reach more than 200, and more than 280,000 people affected.
• Over the years, both governments in Kenya and Tanzania have struggled to finance disaster management systems.
• Tanzania’s commercial pulse, Dar es Salaam’s economy, and infrastructure suffer from frequent and severe flooding, and the situation will worsen without major interventions.

“Tomorrow I am turning 24, and in 2030, I will be 30; seeing all these situations (floods) puts me in a scary position for my future,” Jeffrey Mboya, a Kenyan climate activist, told CNN International correspondent Larry Madowo, as flooding destroys his community.

Lost lives, destructed communities, stranded tourists, broken bridges, and closed-off roads are currently becoming the new normal in Kenya and Tanzania as the two neighboring nations experience floods and cyclones.

Torrential rains have caused terrible floods in Kenya, causing the death toll to reach more …

• “Africa is like China 20 years ago, you see where China is now, so Africa is moving there,” Nael Hailemariam, Founder/CEO Chapa tells global leaders, and investors at AIM Congress 2024.
• Africa’s startup evolution is on, fueled by innovation and a youthful demographic dividend.
• This comparison of Africa to China’s meteoric rise serves as a compelling narrative for investors seeking untapped markets brimming with promise.

A panel discussion titled “The New Geographical Focus of Startups: Spreading Digital Innovation to Africa and Other Places” at the ongoing AIM Congress 2024 in Abu Dhabi has shed light on the startup evolution unfolding across Africa.

Expert speakers lifted the lid on the continent’s burgeoning potential, citing untapped opportunities that are ripe for investment. Nael Hailemariam, CEO/Cofounder of online payment gateway Chapa, captured Africa’s momentum, likening it to China’s trajectory two decades ago. “Africa is like China 20 years ago, you see where …

• Industry leaders, policymakers, and visionaries are meeting in Abu Dhabi for the 13^th edition of AIM Congress 2024.
• Key discussions on the second day focused on advancing global health security and promoting sustainable local production.
• H.E. Mansoor Ibrahim Al Mansoori, Chairman of the Department of Health in Abu Dhabi, underscores the significance of equitable pathways and innovative strategies for a healthier future.

The 2024 AIM Congress, currently underway at the Abu Dhabi National Exhibition Centre (ADNEC) up to May 9th, has become a hub for industry leaders, policymakers, and visionaries. This gathering is witnessing unprecedented convergence aimed at fostering dialogue, collaboration, and innovative solutions to global challenges.

Under the theme “Investing in an Innovative Ecosystem: Navigating Growth Through Strategic Partnerships,” the Universal Track has been a platform for engaging talks and keynote addresses.

For instance, the China Investment Track, a highlight of this segment, was moderated by Duan …

• The Joint Venture will serve to boost global investment and economic development by synergistically combining both parties’ key capacities in the market.
• Both entities aim to leverage their respective strengths to advance LB Investment’s initiatives.
• Established in 1996, LB Investment has consistently been recognized as one of Korea’s premier fund managers.

AIM Global Foundation, an independent international organization dedicated to empowering investments across the world, and Korea-based LB Investment, which has $1 billion Assets Under Management (AUM), have announced the set-up of a Joint Venture, along with a landmark Memorandum of Understanding (MOU) at the ongoing AIM Congress 2024 in Abu Dhabi.

The Joint Venture will serve to boost global investment and economic development by synergistically combining both parties’ key capacities in the market.

The MOU marks a critical moment in global investment cooperation. Both entities aim to leverage their respective strengths to advance LB Investment’s initiatives through the platform …

• From January to March, investor confidence improved notably due to the stabilisation of the domestic currency (Kenyan Shilling), according to the Capital Markets Authority (CMA).
• The Capital Markets Soundness Report indicates a more stable shilling, which consequently positively influenced the equity markets, which improved compared to the quarter ending December 2023.
• The four market indices, NSE20, NSE25, NASI, and NSE10, closed at 1752.43, 2975.42, 113.09, and 1155.41 points respectively, an increase from 1,501.16, 2,380.23, 92.11, and 907.51 points.

Kenyan shilling on the rise

Nairobi Securities Exchange (NSE) was among the top African performers in the first quarter of 2024, buoyed by improved investor confidence that reduced outflows.

From January to March, investor confidence improved notably due to the stabilisation of the domestic currency (Kenyan Shilling), according to the Capital Markets Authority (CMA).

The Capital Markets Soundness Report for the period under review indicates a more stable shilling, which consequently positively …