Trending
- Kenyan Farmers Receive $2M Boost from Africa Fertiliser Financing Mechanism
- Brace for High Interest Rates for a Longer Period World Bank Warns Kenya
- Kenya-Ethiopia Trade Relations: Legislators Advocate for Policy Alignment to Boost Ties
- Visualising the state of debt in Africa 2024
- Abu Dhabi radiates optimism as over 300 startups join AIM Congress 2024
- TLcom Capital Raises $154 million in Funding to Boost Its African Growth
- Africa’s $824Bn debt, resource-backed opaque loans slowing growth — AfDB
- LB Investment brings $1.2 trillion portfolio display to AIM Congress spotlight
Industry and Trade
- Kenya-Ethiopia trade relations have been on the rise in the past 27 years, with Kenya having the upper hand.
- Ethiopia, on the other hand, recorded an increase at an annualised rate of 23.7 per cent.
- During the Meeting Kenyan investors also undertook exhibitions showcasing some of their products.
Kenya and Ethiopia have renewed the push to streamline the bottlenecks that are hampering trade growth between the two states. A delegation of the National Assembly to the Kenya-Ethiopia Trade and Investment Mission held in Addis Ababa, Ethiopia, has rooted for the speedy removal of bottlenecks hampering cross-border trade between both Nations.
Kenya and Ethiopia have engaged in bilateral trade across multiple sectors, including agriculture, manufacturing, energy, and services, with the balance of trade hugely in favour of Kenya. In 2022, Kenya exported $95.1M (Sh12.8billion) to Ethiopia, mainly Palm Oil $12.4M (Sh1.7billion), Metal Stoppers $7.95M (Sh1.1billion), and Yeast $6.92M (Sh934million).
This compares …
- Meg Whitman, US Ambassador to Kenya, highlights key investment opportunities in Kenya, particularly in the creative industry and clean energy.
- She noted that Kenya has the potential to become the Singapore of Africa through vertical business integration, job creation, innovation, and foreign direct investment.
- AmCham Business Summit 2024 seeks to strengthen bilateral trade and investment between the US, Kenya, and East Africa.
The fourth edition of the regional American Chamber of Commerce Kenya (AmCham) Business Summit, has officially kicked off in Nairobi, Kenya, under the theme, ‘Catalyzing The Future of US-East Africa Trade and Investment’.
This year’s forum underscores AmCham Business Summit as the premier platform for strengthening bilateral trade and investment between the United States, Kenya, and East Africa.
Hosted by the American Chamber of Commerce (AmCham), the two-day Summit has brought together delegates from the United States of America, East and Sub-Saharan Africa in efforts to deliberate and …
- South Africa’s Strategic Fuel Fund (SSF) operates Block B2 in South Sudan in collaboration with Nilepet.
- The company has just completed a major phase of its oil and gas exploration in Jonglei state.
- SSF recently completed undertaking the largest geophysical survey ever done in South Sudan, covering 47,000 square kilometres.
In a move marking the strengthening bilateral relations between South Africa and South Sudan, the Strategic Fuel Fund (SFF), South Africa’s state-owned petroleum company, convened a key meeting with South Sudan’s national oil company, Nilepet, in Juba last week.
The meeting was a highlight of South African President Cyril Ramaphosa’s state visit, underscoring the growing economic ties between the two nations.
The SFF, which operates Block B2 in South Sudan and collaborates with Nilepet through the Nile Orange joint venture, has recently completed a major phase of its oil and gas exploration campaign in Jonglei state. The initial aerial survey …
- DRC Joins the Organisation of Southern Cooperation after depositing the Instrument of Acceptance
- Secretary-General Manssour Bin Mussallam received the Instrument of Acceptance.
- The OSC, aimed at fostering cooperation and development among Southern Hemisphere countries
The Republic of the Congo has consolidated its full membership status of the Organisation of Southern Cooperation (OSC) by depositing the Instrument of Acceptance by Daniel Owassa, Ambassador of the DRC to Ethiopia and Permanent Representative to the African Union.
Secretary-General Manssour Bin Mussallam received the Instrument of Acceptance at a handover ceremony yesterday at the OSC Headquarters in Addis Ababa.
The Republic of the Congo is a founding member of the OSC. The depositing of the Instrument of Acceptance signifies the completion of the full membership process by countries in the Global South.
Read Also: SkyPower, AFC, and DRC join forces for $2.3Bn Green Giant project
H.E. Bin Mussallam said the occasion marked the beginning …
- Red Sea shipping disruptions by Houthi rebels stemming from the Israel -Palestine dispute in the Gaza Strip.
- Simultaneously, transits around the Cape of Good Hope are up by a nearly similar amount in the same period.
- Since the first attack in November last year, data shows the numbers have risen to about 68 as of March 12.
The East African region is still at risk of future global shocks as continued Red Sea shipping disruptions and attacks on cargo vessels by Houthi rebels could likely dent the current ease in the cost of living in Kenya, with analysts predicting an increase in fuel prices.
This is likely to negate the calmness in inflation witnessed in the past three months, when the country recorded a decline in fuel and some food item prices, bringing down the level of inflation to 5.7 per cent in March.
The attacks that are stemming from …
- Kenya looks to rise on its estimated $38.4 million blue economy investments to grow sector revenue to $921 million annually.
- Africa, with its vast coastline and rich marine resources, is poised to harness the immense potential of the blue economy.
- BlueInvest Africa is a business-to-business event that aims to catalyse the growth of Africa’s blue economy through strategic investments.
The Kenyan government is looking to ride on its estimated $38.4 million (KES 5 billion) investments in the blue economy initiatives to increase revenue to $921 million (KES 120 billion) annually.
This will be a threefold increase from the current $288.6 million (KES 37.6 billion) that the state generates from the blue economy.
The Cabinet Secretary in the Ministry of Mining, Blue Economy & Maritime Affairs, Salim Mvurya, said that part of the plan was to map the fisheries’ infrastructure across the country.
“We want to increase the revenue to Sh120 …
- 121 African startups secured $466M, marking a 27 per cent drop from the previous quarter; women-led startups got 6.5 per cent of the capital.
- About 87 per cent of startup funding in the three months to March went to entities in Nigeria, Kenya, Egypt, and South Africa.
- Gender imbalance persists as only 6.5 per cent of the financing went to female-led startups in Africa.
The big four economies of Nigeria, South Africa, Kenya, and Egypt continue to attract the highest share of funding going to startups in Africa, even as the ecosystem suffered a 27 per cent drop in financing to $466 million in the three months to March 2024.
The latest analysis from Africa: The Big Deal shows that 87 per cent of startup funding in the three months to March went to upcoming entities in Nigeria, Kenya, Egypt and South Africa.
Attracting $160 million, Nigeria’s economy accounted for …
- The partnership will enable Kenya and South Korea to strengthen legal services and networks for African companies.
- G&A has built a strong reputation in Africa, delivering on transformational projects like the recent Eurobond
- In February last year, the two countries pledged to continue to nurture and expand ties
A law firm in Nairobi is championing a plan to see Kenya and South Korea strengthen legal services for companies in Africa. Kenya’s G&A Advocates LLP has signed a partnership agreement with South Korea-based law firm Jipyong ahead of the Korea-African Summit. The partnership will enable Kenya and South Korea to strengthen legal services and networks for African companies.
The Korean African Summit is set to take place between June 4 and June 5 in Seoul, South Korea, under the theme: “The Future We Make Together, Shared Growth, Sustainability and Solidarity.”
The summit, which will be the first-ever, aims to strengthen the …
- EAPI Retail Forum will take place on the event’s second day on 17 and 18 April 2024 in Nairobi.
- Rising consumer demand has led to the development of strong local retail brands.
- Key speakers at the EAPI Retail Forum say a growing middle class and the rise of digital connectivity are boosting the retail sector.
Retail is emerging among the most vibrant sectors of the East African economy. Kenya’s capital city, Nairobi, has become an important retail market in its own right and a stepping stone into the rest of the country and wider East Africa.
Nairobi is a rising regional shopping destination, the headquarters to many regional retail and food and beverage (F&B) businesses, and a Launchpad for retail concepts in other East African areas.
Digitally savvy middle-class Kenyans are demanding local brand experiences that align with what they see regionally, continental, and internationally and are boosting the retail …
