East Africa

  • Unlike conventional bonds that generate returns through fixed interest payments, Sukuk generates returns through the ownership of underlying assets, thereby avoiding the prohibitions of Riba (interest) and excess Gharar (uncertainty).
  • Global Sukuk market has witnessed significant growth over the last two decades, diversifying its presence across regions such as the Middle East, Southeast Asia, Europe, and Africa.
  • The outlook for the sukuk market indicates a continued upward trend, with projections suggesting it will reach $2,160.55 billion by 2028.

Sukuk, commonly known as Islamic bonds, represent a unique financial instrument in the context of Islamic finance, distinguished by their adherence to Shariah compliance. Unlike conventional bonds that generate returns through fixed interest payments, Sukuk generates returns through the ownership of underlying assets, thereby avoiding the prohibitions of Riba (interest) and excess Gharar (uncertainty).

This Shariah-compliant structure renders Sukuk an appealing option for both Muslim and non-Muslim investors seeking ethical and socially …

Read More
  • Tanzania has offered the Uganda National Oil Company (Unoc) to use the Dar es Salaam port for oil importation.
  • This presents a strategic alternative amid the ongoing importation stalemate between Uganda and Kenya.
  • The legal dispute between Uganda and Kenya over oil importation policies is pending before the East African Court of Justice (EACJ), with indications that Uganda may withdraw the case.

Tanzania has stepped forward with an enticing proposition that Kampala finds hard to ignore, especially regarding the ongoing deadlock in Nairobi-Kampala oil imports.

Tanzania has extended an offer to the Uganda National Oil Company (Unoc) to utilise the Dar es Salaam port for its fuel importation needs. This development comes as Uganda explores alternatives in response to Kenya’s steadfast position on Kampala’s oil importation demands.

Uganda’s grievance at the East African Court of Justice (EACJ) remains pending amid these unfolding events, casting a shadow of uncertainty over …

  • In the three months to March 2023, Group’s total assets rose by 39.8 percent to close at $11.8 billion buoyed by DRC subsidiary TMB.
  • Revenue increased by 26.9 percent to $267.4 million mainly driven by the non-funded income from customer transactions across the Group.
  • This is the Group’s newest subsidiary in the Democratic Republic of Congo.
  • It demonstrated the range and diversified income streams across the group’s businesses, adequate to cover the elevated operating and funding costs.

Regional lender KCB Group Plc posted $68.8 million in profit after tax for the first quarter 2023, a marginal drop attributable to acquisition and consolidation costs of its newest subsidiary, Trust Merchant Bank (TMB), in the Democratic Republic of Congo.

In the quarter, however, the Group recorded a strong balance sheet growth with total assets hitting $11.8 billion, with TMB contributing 14 percent to the Group’s total assets. The bank said this was …

While the world is building off the hype that going green or carbon offsets are the new future, we here in Africa are building a pipeline aimed to continue to destroy the earth. Is it fair then that Africa doesn't really matter in the grand "reset" of the global order, where western countries and companies are coming to dictate what needs to be done in Africa, as a means to drive profit? Much needs to be considered as we Africans are moving toward building energy economies.

It is the 21st Century, twenty plus years into the new millennium; we are a civilized learned people. We have digitized, gone paperless, our phones are smarter than us and we drive, or rather are driven by electric cars. …

[elementor-template id="94265"]

East Africa has since late 2019 been fighting swarms of desert locusts which have posed a serious threat to crops and grazing across the region. 

The locust plague In Kenya is the worst in 70 years. In the last two months, new swarms have been breeding and hatching leaving farmers devastated as they try to cope with the negative effects from previous pests not to mention the dry spells and floods that hit the region further destroying crops. 

“We expect the worst if the young hatch in March and April,” Kelvin Shingles, Kenya Country Director for German Agro Action (Deutsche Welthungerhilfe) said in a press release. 

In Ethiopia, Somalia and Kenya, it is reported that up to 38 percent of cropland and 48 percent of pastureland have been affected. 69 percent of households have also suffered losses due to the plague according to the Southern Africa Food and

When the year 2020 started, there was little time for countries across the globe to work on their plans, as the COVID-19 pandemic emerged as soon as the year began. However, the effects of the virus were not felt until March devastating economies and leaving nothing to chance. East Africa has seen revision of economic growth as key indicators showed poor performance. Just like elsewhere globally, the stock markets dipped to extreme depths, national incomes from tourism and related economies returned their worst showing, and the health system was pushed beyond limits. 

However, it was not just the COVID-19 situation that devastated the region; poor agricultural production, locust infestation, floods and political tensions and elections have had a negative effect on the economy.  

With the ongoing La Nina phenomenon, rains across the regions have been delayed raising fears of inflation as food

In this column called “The Indicator,” we will be taking an economic or financial statistic from East Africa and breaking it down into bite-sized nuggets of knowledge for investors. 

This month’s indicator figure is 38,402,400. 

38,402,400 of what? 

Property rights are the basic foundation of capitalism, trade, and investment.  There is land underneath each of our feet that is cultivated by industries such as agriculture, construction, banking and dozens more.   

An estimated 38,402,400 or 22% of all people living in East African Community (EAC) countries feel insecure about their rights to their primary home or land.  This is according to a recent study of 140 countries by Prindex, an organization focused on helping to increase property rights for citizens around the world.       

What do you mean by insecure property rights?  

Despite what laws or legislation is on the books of a country, insecurity around property rights of land

The East African Community (EAC) has spent twenty years of integration and admitted new members in the process.  EAC Partner States signed the Protocol in November 2009, and it came into force on 1 July 2010. The common market is the first of its kind in Africa. The internal EAC market has about 146 million consumers. 

This second offering, after the initial community collapsed in 1977 has worked to learn from the mistakes of the past community. However, as things change, the more they have remained the same.  

There have been tensions between countries at different periods of time, some threatening the very core that set forth the community. Kenya has been at constant feud with Tanzania, Uganda has been also at loggerheads with Rwanda while Burundi has accused Rwanda of meddling in its affairs.  

Overall trade disputes are now increasing in East Africa.  Uganda’s trade

Of the many brands and companies present in the European country of Slovak, ESET stands out rather brightly. The Slovak software company is known for its highly-reliable anti-virus technologies such as the NOD32, Smart Security or their smartphone security software. Founded in Bratislava decades ago, the company has been able to make in-roads in most parts of the world and now has a presence in Africa.

In January 2019, the Slovak Republic Ambassador to Kenya, Frantisek Dlhopolcek paid a courtesy visit to then Cabinet Secretary of the National Treasury, Henry Rotich where they signed an agreement on development cooperation between the two countries and promote trade and development.

With such an agreement, companies like ESET took advantage of the opportunities presented in the East African region to set base in Kenya. In the period of operation, ESET is looking at how it can capitalize on the changing cybersecurity needs of

Subscribe to Our Newsletter

STAY INFORMED

Unlock Business Wisdom - Join The Exchange Africa's Newsletter for Expert African Business Insights!

Check your inbox or spam folder to confirm your subscription.

Stay ahead of the game with our weekly African business Newsletter
Recieve Expert analysis, commentary and Insights into the enviroment which can help you make informed decisions.

Check your inbox or spam folder to confirm your subscription.

Exit mobile version