Author: Kang'ethe Njoroge

• The 12th edition of The Annual Investment Meeting (AIM), highlighted investment hotspots in various parts of the world.
• The sessions focused on Namibia, ASEAN and the Russia region as well as new investment destinations such as Moscow and Armenia.
• Experts highlighted how the increasing cooperation is leading to a favourable investment climate and opening up new opportunities for businesses.

The 12th edition of the the Annual Investment Meeting (AIM) has highlighted Namibia among other top investment hotspots internationally. AIM, which was hosted in Abu Dhabi, UAE, featured a series of regional and destination forums demonstrating available opportunities in various parts of the world.

In Africa, a special focus was given to Namibia. The session highlighted the southern African country’s potential as an investment hotspot, citing its $13 billion GDP reported in 2022. In addition, the country is rich in oil and gas reserves. Further, Namibia is deploying large-scale projects in …

• UAE Minister of Tolerance and Coexistence H.E. Sheikh Nahyan bin Mubarak Al Nahyan cites the nation’s unique standing in fostering tolerance and coexistence globally.
• UAE is one of the most religiously, politically, and socially diverse countries in the world making it ideal to invest in. 
• The UAE has always provided a tolerant and safe society with quality education, enabling families to live peacefully and work together without fear of violence. 

The 12th edition of the Annual Investment Meeting (AIM) featured a highly impactful session on tolerance and coexistence. The highlight was the signing of MoUs between six nations and the UAE to promote the values of tolerance and coexistence. 

H.E. Sheikh Nahyan bin Mubarak Al Nahyan, the UAE Minister of Tolerance and Coexistence highlighted the country’s unique standing globally in creating a society of tolerance and coexistence.

Socially diverse country in the world

H.E. Sheikh Nahyan bin Mubarak Al Nahyan …

• Financial technology has become an important support for the development of countries around the world.
• Digital technology, data resources, and intelligent technology can promote digitalization across the globe.
• At the global meet, experts provided insights on the opportunities and challenges of digital transformation in the financial sector within the Arab world.

Investors across the world are closely monitoring digital transformation, financial inclusion and sustainable finance trends in the Arab world. These revelations emerged as a top agenda during the just concluded Annual Investment Meeting (AIM) in Abu Dhabi, UAE.

Director and Advisor at the Secretary General Office–Union of Arab Banks Rajaa Kammouny highlighted the challenges banks within the Arab world are facing while calling for readiness to tackle future challenges. 

Digital transformation in the Arab World

Under the Digital Transformation of Financial Sectors in the Arab World and the Role of Financial Technology in Economic Diversification discussion forum, experts offered …

• The Annual Investment Meeting and Emirates Angel Investors Association agree to turn UAE into a thriving base for startups.
• The collaboration is expected to create a positive impact on the United Arab Emirates’ startup ecosystem. 
• The partnership will link startups with a wide network of investors, as well as the necessary resources and mentorship.

The Annual Investment Meeting (AIM) and Emirates Angel Investors Association (EAIA) have joined forces to strengthen their efforts towards promoting startups. The collaboration between AIM and EAIA is expected to create a positive impact on the United Arab Emirates’ startup ecosystem. The UAE has been a fertile base for establishment and growth of startups. 

The partnership will provide startups with access to a wide network of investors. Benefitting entrepreneurs will also access necessary resources and mentorship to help them grow and succeed.

Commenting on the partnership, Director General of AIM Walid A. Farghal said, “The purpose …

• The 12th edition of the Annual Investment Meeting (AIM) featured a one-of-a-kind masterpiece by renowned artist Nadmid Sergelen.
• The piece captured the Cultures and Accomplishments of Mankind while illustrating the Synergy and Diversity of Life on Earth called ‘One Day of the World,’. 
• Day 2 session on ‘Investment Monitor’s FDI Report 2023: A focus on the Middle East & Africa focused on the two areas’ investment landscape.  
• Day 3 commenced with a panel discussion on Sustainable Investment Opportunities in FDI. 

The 12th edition of the Annual Investment Meeting (AIM) featured a one-of-a-kind masterpiece created by the renowned artist Nadmid Sergelen. The works of art captures the Cultures and Accomplishments of Mankind while illustrating the Synergy and Diversity of Life on Earth called ‘One Day of the World,’. 

The painting is unique for its Historical Significance and Value. The fragility of the natural flora and fauna, as well as the Global …

• The three-year $3 billion programme will support viable trade and related investments in Kenya in both private and public sectors.
• It will be implemented using loans, guarantee facilities, trade services, investment banking and advisory services.
• The financing will also go to the creative arts sector through the Kenyan government’s youth empowerment programme.

The Afreximbank is rolling out a $3 billion program aimed at spurring Kenya’s economic growth. The three-year programme by the African Export-Import Bank will support viable trade and trade-related investments in Kenya’s private and public sectors. 

The financing will be implemented using several instruments including loans, guarantee facilities, trade services, investment banking and advisory services.

The memorandum was signed on 2 May 2023 in Nairobi by National Treasury Cabinet Secretary Professor Njuguna Ndungu alongside Afreximbank Chairman Professor Benedict Oramah in the presence of President William Ruto. 

Digitise government services

“This programme is a step forward in our economic …

• A new $273,716 Growth for Jobs Tourism Challenge Fund seeks to grow South Africa’s tourism numbers by engaging SMEs.
• The fund will support regional and local tourism organisations, industry associations, and district and local authorities
• The target SMEs are expected to grow and expand their tourism product offerings.

South Africa has lined up a $273,716 fund to empower small businesses in the tourism sector to enhance their offerings. The $273,716 Growth for Jobs Tourism Challenge Fund will grow South Africa’s tourism numbers through local small businesses. 

Minister of Finance and Economic Opportunities Mireille Wenger said the fund will power the sector’s future growth by removing barriers. 

“Our tourism and hospitality sector was hit hard by the COVID pandemic. But, it has seen a remarkable recovery with international arrivals reaching 100 percent of their 2019 figures in February this year,” she noted. 

Wenger added that this would be achieved by helping …

• The FAO Food Price Index averaged at 127.2 points in April 2023, up 0.6 percent from March.
• According to FAO, the April rise reflected higher prices for sugar, meat, and rice.
• Price declines were, however, recorded for cereals, dairy, and vegetable oil price indices.
• FAO Chief Economist Maximo Torero terms the increase in rice prices “extremely worrisome”.

Global food prices edged up in April for the first time in the past year. The FAO Food Price Index, which tracks monthly price changes, averaged 127.2 points in April, up 0.6 percent from March.

The Index was 19.7 percent below its level in April 2022, but still 5.2 percent higher than in April 2021. “As economies recover from significant slowdowns, demand will increase, exerting upward pressure on food prices,” FAO Chief Economist Maximo Torero said. 

April rise reflected higher prices for sugar, meat and rice, which offset declines in cereals, dairy …

• New standard to guide how Payment Service Providers and institutions regulated by the CBK issue quick response (QR) codes.
• Merchants will be able to receive payments from multiple channels such as banks or mobile wallets.
• CBK says long-term use of standardized QR codes will facilitate the launch of innovative products.

Consumers in Kenya can now make digital payments in an easy, fast, and convenient way through quick response codes. This week, the Central Bank issued the Kenya Quick Response Code Standard 2023, also shortened as KE-QR Code Standard 2023. 

The service seeks to boost digital payments, which are offered by multiple financial institutions in the country. Normally, many companies use in-house payments solutions meaning customers can only use vendor-specific channels. Kenya’s financial industry regulator now wants to eliminate that friction through deployment of the new standard.

The regulator said the standard will guide how Payment Service Providers and institutions …

• The funding, Mozilla African Innovation Mradi, promotes ideas based on unique African user needs.
• The program scouts for innovation that produce a meaningful impact on the African internet ecosystem.
• Kenya is a leader in broadband connectivity, ICT infrastructure and is home to over 300 tech start-ups.

Kenyan tech start-ups are jostling for a pie of Mozilla’s $300,000 funding targeting projects solving unique user needs in Africa. The funding, a collaboration between Mozilla Africa Mradi and the Nairobi City County, will supporting tech-based firms in Kenya’s capital. 

Dubbed Mozilla African Innovation Mradi, the funding promotes innovation led by and grounded in tackling unique needs of users in Africa.

Africa Innovation Mradi leverages Mozilla’s role as stewards of the open web to promote innovation in African countries. 

The program establishes networks of partners and communities exploring and developing new projects and technologies. Winners will produce projects that offer meaningful impact on …