More than 66 per cent of total employment is Sub-Saharan Africa is from the informal sector, the International Labour Organization (ILO) has revealed, the biggest provider of employment in Africa.

Informal economies are typically characterised by low productivity and non-exportable goods and services.

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On the other hand, the sector also provides crucial livelihoods to the most vulnerable of the urban poor.

It is projected that the informal sector is likely to absorb many of the continent’s young employment seekers who are mainly today’s millennial digital natives – educated, learned and very adaptive to global trends.

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The Inter Region Economic Network (IREN) recently has held its 18^th Africa Resource Bank Forum in Nairobi in collaboration with the Friedrich Naumann Foundation for Freedom(FNF), under the theme: “The Future of Africa’s Informal …

Five East Africa Community member countries have together amassed more than $100 billion in foreign and domestic debt, stretching their repayment budgets to the limit.

The rapid loans build-up has pushed East African countries close to a debt crisis, putting the region’s long-term economic stability at risk.

Kenya and Burundi have the highest loan distress profiles compared to other EAC countries with their debt -GDP ratios projected to exceed 60 per cent this year.
The International Monetary Fund (IMF) considers a 50 per cent debt to GDP ratio to be within the tolerable limit for developing economies such as the EAC members.

In its latest Regional Economic Outlook report, IMF warned that some EAC countries are already facing increased foreign exchange and refinancing risks which he advised that it is important to enhance a debt management frameworks and transparency.

Kenya’s debt-to-GDP ratio is on its way to hit 61.6 per …

Debt across East Africa continues to grow with Kenya’s risk of debts increasing from low to moderate.

Burundi has also joined a group of nine African countries with a high risk of debt distress. According to a US-based research firm, Brookings Institution, Kenya, Uganda and Tanzania rank among the top 50 countries in the world that are highly indebted to China.

According to the report, such countries are now shifting away from official multilateral creditors to non-concessional, (commercial) debt with relatively higher interest rates and lower maturities.

This has caused the International Monetary Fund (IMF) to raise a red flag over the rate at which East African countries are accumulating debt. Raising concerns about debts sustainability, the risk of higher refinancing of the debts and foreign exchange risks.

East African economies have fallen into a financial fix as they attempt to fund persistent budget deficits and implementing mega infrastructure projects …

East Africa’s life insurance business is experiencing an upward growth trend fuelled by the increasing demand for life products among the middle class.

According to a survey done by Deloitte, the Middle class is the largest class for the life insurance business while the motor and medical business classes are among the most loss-making businesses. It suggested that insurers look into other emerging business classes that have the potential for growth for them to diversify their business.

According to the survey group, life faces slower growth compared to other business classes within the life insurance mostly due to price wars that have been prevalent among the industry players.

The rising costs of fraud give the insurers the challenge of being unable to adequately price risks which have led to deteriorated returns to equity.

It is estimated that fraud accounts of the total cost of insurance premiums for Kenya are 25 …

While most African countries are bearing the brunt of the US-China trade war as well as a slump in commodity prices which is greatly affecting exporters, East Africa economies have remained resilient.

This is on the region’s economic diversity which is playing a key role in cushioning the region from shocks, the latest report from ICAEW – the Institute of Chartered Accountants in England and Wales – Economic Update: Africa Q3 2019 indicates.

The report provides GDP growth forecasts for various regions including East Africa which is set to grow by 6.3 per cent, West and Central Africa at 3.4 per cent, Franc Zone at 4.7 per cent and Southern Africa at 1.3 per cent.

The report, commissioned by ICAEW and produced by partner and forecaster Oxford Economics, outlines how East Africa’s growth is mainly driven by strong performances in the two major economies, Kenya and Ethiopia.

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Tanzania has opened up its borders for an alcoholic drink from Kenya which had been barred entry since March this year.

This is in the wake of the ongoing Public- Private Dialogue(PPD) with trade facilitation agencies at One-Stop Borders across the East Africa Community, aimed at adressing cross-border barriers.

READ:Kenyans lament trade discrepancies with Tanzania

The initaive is under a TradeMark East Africa(TMEA) and East African Business Council (EABC) programme which scrutinizes if EAC agreements and practices are easing doing business across borders.

The PPDs focus is on the extent to which partner states are translating the EAC Common Market and Customs Union Protocols into policies that support the actualization of free movement of goods and people.

The debut EABC Public-Private Dialogue with Trade Facilitation Agencies at Namanga One-Stop Border Post brought together officials from Ministries of EAC Affairs, immigration, bureaus of standards, plant and animal health, sanitary and …