Author: Maingi Gichuku

During the time that former President Mwai Kibaki was in office, Kenya avoided taking out this kind of credit. Instead, the majority of the assistance that the country received from organisations such as the IMF and the World Bank came in the form of project funding.

The International Monetary Fund (IMF) stated that Kenya was on the right track to reaching its fiscal objective as part of the plan and that the country’s robust tax performance this year was helping its resilience in the face of disturbances on global shocks.

The fund stated that the completion of the study would enable Kenya to access around US$239 million at the current currency rates by the middle of July, as was predicted in April.

Despite improved tax collections by the Kenya Revenue Authority, Kenya is facing high expenses of refinancing dollar loans as it looks to tap global markets to plug the …

• DRC formally joined the EAC by depositing its instruments of ratification on the EAC Treaty’s accession with the bloc’s secretariat
• DRC will eliminate constraints on the free movement of individuals and goods, as well as increase intra-EAC exports which presently total USUS$7.4 billion
• The enlarged membership makes the community larger, with a nearly 50% rise in population, a 22% increase in GDP, and a 79% increase in the territorial area ranging from the Indian to the Atlantic Ocean

On Monday, the Democratic Republic of the Congo (DRC) accomplished the final and most significant step to joining the East African Community (EAC).

At a ceremony conducted at the EAC headquarters in Arusha, Tanzania, the DRC formally joined the EAC by depositing its instruments of ratification on the EAC Treaty’s accession with the bloc’s secretariat.

DRC now has the same rights and benefits as all EAC members to engage in EAC programmes …

• Since its inception in 2017, ZACU has made rapid strides toward being one of the most successful internet streaming service providers in East Africa
• 19% of Rwandan households owned a TV in 2019, therefore the country’s 9.37 million mobile phone users make a considerably more viable business for digital content creators
• Canal + already serves consumers in both Anglophone and Francophone West Africa, and it already has 23.7 million members all over the world

As part of its strategy to further consolidate its position in East Africa, the French company Canal+ Group has announced that it will be purchasing ZACU TV, Rwanda’s first digital streaming platform.

After recent forays into film production in West Africa, this current endeavor indicates that the French media behemoth recognizes the untapped potential of independent film production in Africa as an attraction for the growing on-demand viewership across the continent.

The decision to expand into …

According to the most recent data provided by Dalberg, a vast majority of Kenyans rely on digital services for their businesses and livelihoods. And there is significant room for expansion and deeper engagement in the sector. Kenyans depend on digital tools and services to increase their income.

The quarterly sector statistics compiled by the Communication Authority of Kenya (CA) for the quarter ending September 2021, Kenya has over 26 million smartphone devices out of a total of 59 million mobile phone devices connected to mobile networks in the country. This results in a penetration level of 53.4 per cent.

As stated by Mugo Kibati, the Chief Executive Officer of Telkom, the cooperation aligns with Telkom’s aim of enabling its consumers to gain access to mobile and broadband services.…

• Cameroon’s President Paul Biya has dispatched a delegation to Europe in an effort to persuade well-off Cameroonians now residing in Europe to invest in their home country
• The government would grant tax exemptions of up to forty per cent for investments made by members of the diaspora in Cameroon, as well as loans of up to ten thousand dollars with no interest rates for members of the diaspora who return to engage in agricultural and livestock.

For the first time, Cameroon’s President Paul Biya has dispatched a delegation to Europe in an effort to persuade well-off Cameroonians now residing in Europe to invest in their home country.

However, members of Cameroon’s diaspora claim that investors are discouraged by the autocratic procedures and corrupt nature of Biya’s government.
According to government authorities, a delegation led by the Minister of Youth Affairs and Civic Education Mounouna Foutsou was deployed to …

According to data obtained from Egypt’s Central Agency for Public Mobilization and Statistics, the value of trade between Egypt and Saudi Arabia increased by 62.1 per cent to US$9.1 billion in 2021, up from US$5.6 billion in 2020. This figure represents a significant increase.

Increased by 17.3 per cent from US$1.9 billion in 2020 to US$2.2 billion in 2021, the value of Egyptian exports to Saudi Arabia reached US$2.2 billion in 2021.

The value of Egyptian imports from the Kingdom increased by 84.5 per cent, reaching US$6.9 billion in 2021, compared to US$3.7 billion in the previous year.…

In Sub-Saharan Africa, more than 60 per cent of the population is comprised of small-scale farmers, and the agricultural sector is anticipated to provide 23 per cent of the continent’s GDP, as stated by McKinsey & Company. However, just 3% of the industry is eligible for banking credit, which severely restricts the ability of farmers to expand their businesses or reduce the impact of unfavourable harvests.

“In contemporary times, ensuring food security is a requirement that is both vital and urgent. As a result, we are going to have to step up to the challenge and create chances for growth in Africa’s agriculture value chain. Our collaboration with Mastercard has arrived at the perfect time to hasten the process of providing smallholder farmers in Africa with access to the essential financial services they require.

These services are essential to the achievement of Africa’s full agricultural potential. According to Ade Ayeyemi, …

• On Thursday, the European Parliament held a vote to consider a new report that would revive its EU Africa trade agreement as advocated for in this paper, which has been forwarded to the European Commission (EC) for deliberation and, if necessary, resolution
• The paper, which was authored by the EU Committee on International Trade, provides a number of suggestions for potential investments in Africa in the future
• The vote on the “Future of EU-Africa commercial ties” will centre on five primary topics: food security, infrastructure, fair trade treaties, civil society, and workable economic development

On Thursday, the European Parliament held a vote to consider a new report that would revive EU Africa trade agreements.

More equitable treatment of African nations within the context of their existing bilateral trade agreements is advocated for in this paper, which has been forwarded to the European Commission (EC) for deliberation and, if necessary, resolution.…

The total value of all equities was estimated to be Sh1.847 trillion as of the end of the year, which is a decrease of Sh2.636 trillion from the beginning of the year. Meanwhile, the NSE main index reached a low point not seen in 19 years due to the departure of foreign investors.

At the end of the trading day, the NSE-20 Share Index reached 1,580 points, a high not seen since 2003.

The share price of Safaricom, which makes up more than half of the value of the stock market, has dropped by 38 per cent since January to a current price of Sh24 per share, down from a price of Sh37.95 per share in January, which has contributed to the fall at the Nairobi bourse.

Due to the stock’s high liquidity and strong business performance, such as profits and dividends, foreigners have exposure to it.…

Shelter Afrique recently finished its first bond issuance in Nigeria’s capital market, which was a 46 billion nairas ($110.7 million) Series 1 Fixed Rate Senior Unsecured Bond Issuance. This was done as part of Shelter Afrique’s 200 billion nairas ($481.3 million) bond issuance programme, which will be used for the development of housing and urban areas in Nigeria.

Shelter Afrique was able to exercise the ‘green shoe’ option and raise an additional 6 billion (US $14.4 million) more than the original 40 billion plan (US $96.3 million) because the dual-tranche bond issuance was oversubscribed by 60.7%, with the order book peaking at 64.3 billion (US $154.6 million). This allowed Shelter Afrique to raise an additional 40 billion (US $96.3 million).

The high rate of oversubscription is evidence that investors have faith in Shelter Afrique’s mission to facilitate the construction of housing in Africa, as well as the institution’s excellent management …