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Industry and Trade
- 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 …
- Africa’s agribusiness sector is undergoing significant transformations driven by population growth, urbanisation, technological advancements, and shifting consumer preferences.
- Alongside their role in stimulating economic growth, agribusiness and agro-industrial development have the potential to reduce poverty and foster social and economic growth.
- Technological advancements and digital transformations are revolutionising agribusiness in Africa, offering transformative opportunities.
Africa’s agribusiness sector potential
Agribusiness in Africa is undergoing significant transformations driven by population growth, urbanisation, technological advancements, and shifting consumer preferences. As a continent with abundant agricultural resources, Africa holds immense potential for agribusiness development.
African economic growth remains commodity-based, mainly on commodity exports, with minimal processing and value addition involved. To foster sustainable and inclusive growth and development in Africa, there is an urgent need to promote a new development approach based on exploiting the continent’s full agribusiness potential.
Some pressing issues call for a reorientation to support agribusiness and agro-industrial development, namely, poverty …
- According to an Economist Intelligence Unit (EIU) report, Kenya is among the best places for doing business globally.
- Venezuela has been ranked as the worst country in which to do business.
- Qatar has implemented a $220 billion investment program over the past decade, mainly focused on infrastructure.
Kenya has been ranked among the places with a weak business environment. Still, it has the potential for improvement over the next five years. According to a report by the Economist Intelligence Unit (EIU), it is among the best business places, a global business intelligence & market insights company.
Kenya and Angola were the only African …
- Early last year, another German shoe line announced an investment of $2.66 million to expand its presence in Kenya by 2025.
- The distribution centre is at the Freight Forwarders Solutions warehouse in Tatu City.
- In recent years, German firms have shown increasing interest and investment in East Africa.
German-based cleaning equipment manufacturer Karcher has announced an approximate $3.25 million investment in the Kenyan market. The firm is setting up a regional distribution centre in Nairobi as a business expansion strategy to evade the toughening global import supply chain due to high logistics costs resulting from pirate attacks in the Red Sea corridor.
The distribution centre is at the …
- In 2022, investments in Tanzania rose by $3.16 billion between July and November.
- Currently, Tanzania has stable economic diplomatic relations with global economic giants, China and US.
- Tanzania’s economy is expected to expand by 5.5 percent in 2024.
“Kazi Iendelee” Swahili term for “Let’s Proceed with Work” has become a national rallying call for progress in Tanzania under President Samia Suluhu Hassan, who is popularly referred by Mama Samia – a Swahili term of endearment and respect.
Even from foreign capitals, President Samia’s work is catching the eye of fellow leaders. When US Vice President Kamala Harris came visiting, she …
- Kenya Airways losses for FY2023 have majorly stemmed from FX fluctuations.
- Despite the heightened operating costs, Kenya Airways achieved an operating profit of $79.4 million.
- International Air Transport Association (IATA) predicts full recovery of the aviation industry from the Covid-19 crisis in 2024.
Kenya Airways net losses for the trading period ending December 2023 have dropped to $171.6 million (KES22.7 billion) majorly attributed to the forex exchange losses suffered during the review period.
The latest result is a 41 percent reduction from the $289.6million (KES38.3 billion) reported in 2022 in what the airline attributes to continuing efforts aimed at navigating KQ’s back onto the path to profitability.
These losses stemming from fluctuations in currency exchange rates (FX Losses), impacted the airline’s financial position, posting the greatest drawback to its financials with $181.4 million loss.
Kenya Airways Chief Executive Allan Kilavuka said that in the review period the airline increased flight …
- Cross-border commerce brings forth many advantages that extend far beyond mere economic enrichment.
- These advantages encompass various facets of societal development, from economic growth to cultural exchange and regional integration.
- At its core, cross-border commerce catalyzes economic prosperity, unlocking new markets and investment opportunities.
Cross-border commerce is reshaping Pan-African trade networks, offering new avenues for economic growth and regional integration.
This article explores the evolution of these networks, the key players involved, the advantages of cross-border commerce, the challenges faced, and the opportunities for further growth.
The Evolution of Pan-African Trade
Historical Roots
Trade has been a cornerstone of African …
- Electric bus company, BasiGo has secured $3 million (Sh396 million) worth of equity funding from CFAO Group to scale up electric bus production in East Africa.
- The investment, split between CFAO Kenya and Mobility54, will help accelerate the scale-up of BasiGo’s manufacturing and delivery of electric buses in Kenya and Rwanda.
- CFAO Group is building e-mobility ecosystem in East Africa by investing in green mobility startups through Mobility54.
Electric bus company, BasiGo has secured $3 million (Sh396 million) worth of equity funding from CFAO Group to scale up electric bus production in East Africa. The investment, split between CFAO Kenya and Mobility54, the …
