Industry and Trade

Shelter Afrique
  • South African rating agency GCR has upgraded Shelter Afrique Development Bank’s global scale long issuer rating to B from B- and affirmed a stable outlook.
  • Additionally, GCR has upgraded the national scale issuer ratings for Kenya, Nigeria, and Mauritius, all with stable outlooks, while recognizing Shelter Afrique’s transition to a treaty-based entity and strategic efforts to address capital arrears.
  • This transformation has improved the bank’s operational and financial performance, enhanced governance, and solidified its legitimacy and confidence among members.

South African rating agency GCR, has upgraded Shelter Afrique Development Bank’s (ShafDB) international scale long issuer rating to B from B- and affirmed the short-term national scale issuer rating of B, with the outlook accorded as Stable.

At the same time, GCR has also upgraded the long and short-term national scale issuer ratings for Kenya to AA-(KE)/A1+(KE) from A+(KE)/ A1(KE); Nigerian to AA+(NG)/A1+(NG) from AA(NG) / A1+(NG); and Mauritian to BB+(MU)/B(MU) …

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  • The Japanese paint company will use Kenya as its gateway to the regional market
  • NIPSEA Paint Kenya, the company will introduce products for automotive refinishing, car care, wood coating, and industrial coatings.
  • The rise in infrastructure projects, including residential, commercial, and industrial developments, has fueled the demand for a wide range of paint products.

Japanese paint company Nippon, the world’s fourth-largest paint company coatings group in Asia Pacific, has expanded into Kenya as it targets to grow market share.

Through its Kenyan subsidiary, NIPSEA Paint Kenya, the company will introduce products for automotive refinishing, car care, wood coating, and industrial coatings.

Working through a distributorship model, Nippon Paint is setting Nairobi as its regional hub, before setting up in-country operations in the respective East African countries.

“We are eager to establish our presence on the African continent through Nairobi and East Africa. Over the past two years, we have

  • In the first three months of this year, Asia remained the leading source of Kenya’s imports accounting for goods worth $3.4 billion, as the country’s import bill closed the quarter at $5.4 billion.
  • Kenyan traders and government imported goods worth $990.2 million from China, data by the Kenya National Bureau of Statistics (KNBS) shows, making it the biggest import source by country.
  • Unlike his predecessors, President Ruto is seen to lean more towards the West as he seeks financing and trade cooperation.

Kenya’s imports from Asian countries including China

China and India remained the top exporters to Kenya in the first quarter of this year, leading other Far East nations in retaining a firm grip on the East African economic powerhouse’s trade and investment space, which they have dominated for over a decade.

This trend continues despite President William Ruto’s heightened charm offensive to economies from the West, which is …

  • Lack of healthcare price controls has exposed those without insurance covers forcing them to part with billions to finance health.
  • Health insurance schemes are increasingly gaining traction in countries like Rwanda helping to ease healthcare burden.
  • The report further notes that countries like Kenya, Tanzania, and Uganda have faced challenges in implementing national health insurance schemes.

The lack of government-mandated price controls for out of pocket health expenditures has left a financial burden for low-income households in East Africa accessing medication, according to a new report.

The survey titled Primary Healthcare Financing in East Africa, shows that Out-of-Pocket (OOP) payments are the primary form of transactions in East Africa.

However, the trend poses a significant financial burden for poor families and households due to the lack of price controls on healthcare in the country.

The survey by Medic East Africa and Medlab East Africa shows that among the east …

  • Africa’s blue and green economy is projected to be the new avenue that will drive investments in Africa
  • The continent, with its vast coastline and rich marine resources, is poised to harness the immense potential of Africa’s blue and green economy
  • According to ADFDB, 80 per cent of global trade is maritime. Oceans also provide billions of people with food, medicine, renewable energy, and natural resources.

Three Kenyan startups are among ten selected across the continent to benefit from $550,000 (Sh70.7 million) in capital to grow their operations towards boosting Africa’s blue and green economy sectors.

Kenya produced the highest number of startups on the list (three), followed by Rwanda with two. South Africa, Madagascar, Mozambique, Nigeria, and Tanzania each produced one enterprise.

From Kenya, Samaking, Plas Tech, and Ark will each receive $55,000 (Sh7.1 million) in funding to expand across Africa.

These ten ventures are part of the innovative, …

  • The top unserved routes identified by Airbus are in Africa’s biggest cities, Nairobi, Lagos, Cape Town, Dakar, and Douala.
  • Despite significant traffic between certain city pairs, Airbus notes that some of these routes lack regularly scheduled non-stop flights.
  • Overall, Airbus forecasts a 4.1% growth in air traffic over the next 20 years, resulting in demand for 1,180 new aircraft by 2043 across Africa.

An analysis by global aviation giant Airbus has revealed several key unserved airline routes in Africa that could provide greater connectivity for travelers, and drive economic growth in the economies while offering fresh income streams for airlines.

Several of the top unserved routes identified in Airbus’ latest Global Market Forecast analysis are concentrated in Africa’s biggest cities, including Nairobi in Kenya, Lagos in Nigeria, Cape Town in South Africa, Dakar in Senegal, as well as Douala in Cameroon.

In its review, the aircraft maker also offered strategic …

  • The EU-Kenya agreement will boost bilateral trade in goods, increase investment flows, and strengthen the ties between these partners.
  • It is also expected to facilitate mutually advantageous economic relations sustainably, stimulating job creation and economic growth.
  • The EU-Kenya EPA is the most ambitious deal negotiated with an African country in terms of sustainability and can serve as a template for other sustainable trade agreements.

The activation of the EU-Kenya Economic Partnership Agreement (EPA) on July 1st, 2024, marks a historic moment in the growing economic relations between Kenya and the European Union.

According to a statement from Kenya’s Ministry of Investments and Trade as well as the EU, this agreement is poised to greatly transform Kenya’s trade with Europe, opening doors for Kenyan exporters to access duty-free the opportunities set by the $18 trillion bloc.

“The EPA will also create more opportunities for Kenyan businesses and exporters, as it will …

  • How Niger-Benin dispute mar $400 Million oil exports deal with China
  • Tensions between neighbouring West African nations Benin and Niger are escalating amid a deepening dispute over oil exports.
  • Further, Niger accused Benin of kidnapping five of its nationals.

Niger-Benin dispute

Peace in West Africa is becoming scarce as Niger and Benin dispute takes a different shift forcing Niger to consider routing its crude oil pipeline (1,930 kilometer) stretching from Agadem oil field to the port of Cotonous in Benin.

Niger’s ambition to become an oil exporting nation is threatened by internal security crisis and a diplomatic dispute with neighbor Benin. The conflict is a product of last year’s coup that toppled the West African nation’s democratic government.

According to information from Africa News, It was designed to help the oil-rich but landlocked Niger achieve an almost fivefold increase in oil production through a $400 million deal signed in April …

  • Kenyan consumers defy 8-year high Lending Rate as 60 per cent set sights on borrowing over the next year
  • Nearly all consumers (99 per cent) deem access to credit as essential for financial inclusion and economic participation
  • Digital platform usage is increasing, with 42 per cent of Kenyans conducting at least half of their transactions online.

Kenyan households experienced a modest financial rebound in the second quarter of 2024, largely driven by new business ventures, enhanced debt management, and less impact from job losses. This is according to the second quarter Consumer Pulse Study by insights company TransUnion.

According to the study, 34 per cent of consumers saw an increase in income in the last three months, led by gains among the Gen Z (18–26 years old) and Millennial (27–42 years old) groups.

While a similar number (36 per cent) of consumers also reported a decrease in income over the …

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