Author: The Exchange

- We provide economic news and analysis on the investment arena in Africa, with a particular interest in doing business. Our key areas of focus include banking, capital markets, energy, mining, manufacturing and industrial development.

Annual Investment Meeting (AIM) 2023 to be hosted in Abu Dhabi

The Annual Investment Meeting (AIM) will be holding its 12th Congress in Abu Dhabi during May 8-10, 2023. This is in response to the rapidly shifting global climate. This year’s conference theme is “The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity, and Prosperity.” The conference is being sponsored by the Ministry of Industry and Advanced Technology of the Government of the United Arab Emirates. The global economic order is changing toward emerging countries, people, and economies that have the potential for enormous growth. AIM 2023 will serve as a launching pad for African nations during…

Read More

After a substantial decline in 2021, Mozambique’s GDP is expected to recover to 4.5% at the closing of 2022 and potentially expand to 5.1% in 2023.  The impact of the Covid-19 pandemic, extreme climactic events and jihadist insurgency in the north of Mozambique were the driving factors of the contraction in the economy. As a consequence of violence in the northern gas-rich province of Cabo Delgado, French energy firm TotalEnergies, declared force majeure at its Area 1 site in May 2021, after an attack on a nearby town. Several mines and other businesses in the province have also suspended operations…

Read More

Describing the signing of the five memorandums of understanding, Dawood Al Shezawi, Chairman of the Organizing Committee of the Annual Investment Meeting, stated that the MOUs come in the context of the ongoing efforts made by the Annual Investment Meeting to implement that strategic plan into real-world results that will encourage direct and indirect investment and drive sustainable development.

The Annual Investment Meeting (AIM) is an initiative of the AIM Foundation, an independent international organization fully committed to empowering the world’s economy by boosting effective promotion strategies and facilitating opportunities for economic productivity and expansion.

The Foundation also undertakes the operation and management of the AIM Global Investment Network and its 15 affiliated Business Groups, including the supervision of the Annual Investment Meeting Global and Regional Chapters.

Read More

According to the World Bank, skilled workers enhance the quality and efficiency of product development, production, and maintenance and supervise and train workers with lesser skills. As a matter of fact, countries with well-established TVET systems tend to enjoy lower youth unemployment.

This is because the orientation of TVET coupled with the acquisition of employability skills allows it to address issues such as skills mismatch that has impeded smooth school-to-work transitions for many young people. Lower youth unemployment is key to improving lives and building stronger communities necessary for growth.

There is no doubt that Kenya, Tanzania and Rwanda are leading their East African counterparts in promoting technical skills training in their respective countries.

Read More

East Africa has made huge strides in improving the tourism sector in the bloc. So far, three countries have embraced the Single Tourist visa making it easier for the bloc to market it as a single destination as well as allowing tourists access to all three countries from one visa.

The single tourist visa was introduced in 2014 as a pilot between Kenya, Uganda, and Rwanda. Under the initiative, tourists can choose between a single-country visa or an EAC tourist visa. With the latter, they are allowed to move freely between the three countries for a period of up to 90 days.

In October 2020, the East African Legislative Assembly (EALA) released a report citing the tourism situation in the region.

The EALA noted that certain overriding challenges, including sector underfunding, insecurity, and lack of harmonized policies and laws, need to be speedily addressed to ensure that the sector thrives.

Read More

Today, being an online trader or digital shopper only requires one to have a smartphone, internet connection, a convenient social media platform and some products to sell or to buy.

One of the major hindrances to e-commerce across the world is inadequate online payment systems. In Kenya, however, mobile payment platforms have placed the East African nation at the top of other global economies. For this and many other reasons, Kenya is ranked third in Africa after Nigeria and South Africa, in terms of online shopping volumes, according to an article published in the Daily Nation last year.

All said and done, while you enjoy the convenience of online shopping, doing so comes with risks that can frustrate the modern way of shopping, leaving consumers and dealers vulnerable to the antics of online criminals.

Read More

The Guide mainly covers three key areas – understanding the asset class and where it sits alongside other asset classes, why and how to invest in PEs and an overview of the benefits and risks of investing in PE.

The development of the guide was informed by a market study report that sought to investigate the low uptake of investment by pension schemes.

In Kenya, for instance, PE allocations by pension schemes account for only 0.08 per cent of the total industry assets under management. From a regulatory perspective, there are provisions allowing pensions to invest in PE funds across East Africa (Kenya, Uganda, Rwanda, Tanzania, and Ethiopia).

According to Kenya’s pension regulator, the Retirements Benefits Authority (RBA), though the country has had regulations that provide for diversification of pension funds away from traditional instruments, most pension schemes are still predominantly bond and stock investors.

Read More

Mozambique showcases a new visa program to allow visitors a 90-day stay upon entry The travel and tourism industry’s overall contribution to Mozambique’s gross domestic product in 2019 was 6.2%, but that number dropped to 3.4% in 2020. In 2021, Tourism receipts counted for nearly $700 million, accounting for approx. 4.1% of total GDP (according to World Travel and Tourism Council) After the first publication of a stimulus package consisting of twenty measures at the beginning of August, Mozambique made an announcement regarding one of the first measures to be put into action: a reformed Visa system. Mozambique’s Council of…

Read More

Jakaya Kikwete, former president of Tanzania, has been selected as one of the top 10 finalists for the first-ever Africa Education Medal. T4 Education, in partnership with HP and Intel, has established a new award that will be granted to exceptional persons in the area of African education who have exhibited influence, leadership, and advocacy. Former President of Tanzania and current Chair of the Board of Directors of the Global Partnership for Education, H.E. Jakaya Kikwete, has been selected as one of the Top 10 finalists for the brand-new Africa Education Medal, which was created by T4 Education in collaboration…

Read More

Burundi’s future is bringing optimism via the change of the country’s health care system, despite a country that has been marred by a lack of suitable facilities as well as human resources in the health arena. Since the civil war in 2003 that broke out in Burundi, there has been a pressing need for a strategy that is both long-term and forward-thinking in order to guarantee that the most vulnerable children and youth are not abandoned. In this light, and bearing in mind that access to health is a fundamental human right, essential to the future of the country. Even…

Read More