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- Youth Unemployment in Kenya: The Role of Vocational Training
- New $900,000 initiative aims to boost sustainable trade in Tanzania
- Organization of the Petroleum Exporting Countries’ (OPEC) pride in its African roots
- AIM Global Foundation pushes for stronger Gulf-Africa trade partnerships
- Investment opportunities in South Sudan’s emerging gold industry
- Family planning drive in Kenya gets 450,000 self-injectable contraceptive doses from UK
- AfDB commits $2 billion to revolutionise clean cooking in Africa, save forests
- The harsh realities of family laws for African women revealed
Industry and Trade
- Sustainable Trade in Tanzania seeks to integrate the strengths of private sectors and civil society organisations to promote green growth.
- The plan seeks to grow trade practices that are both inclusive and environmentally sustainable.
- The project seeks to improve trade resilience to climate change by advocating for sustainable trade practices.
The Foundation for Civil Society (FCS) and TradeMark Africa have sealed a grant agreement to launch a $ 900,000 Private Sector and CSOs project to drive sustainable Sustainable Trade in Tanzania and inclusive business practices, addressing the significant systemic challenges in Tanzania’s trade sector.
Funded by the Foreign, Commonwealth & Development Office (FCDO), Ireland, and Norway, the TZS2.3 billion ($900,000), the project seeks to integrate the strengths of private sectors and civil society organisations to promote green economic growth.
Many women in Tanzania remain in the informal trading sector, facing barriers such as limited access to finance and inadequate training …
- Al Shezawi, President of AIM Global Foundation, asks entrepreneurs to seize promising investment opportunities between the Gulf countries and African nations.
- Al Shezwi who is also President AIM Congress says these collaborations will be through enhancing joint work and establishing economic partnerships.
- Also discussed in Bahrain was best practices and experiences from Africa and the Arab region on how to stimulate and unleash entrepreneurship, joint investments, and trade.
The AIM Global Foundation has called for enhanced trade partnership between the Gulf nations and Africa during the fifth edition of the 2024 World Entrepreneurs Investment Forum in Bahrain.
This call comes at a time when the AIM Global Foundation is increasingly engaging the world’s entrepreneurs, urging enhanced international cooperation by formulating and developing effective promotion strategies and opening new horizons for viable investments.
Overall, the AIM Global Foundation seeks to anticipate the future, support sustainable investment partnerships and initiatives, and create …
- Kenyan home buyers are looking for cheaper houses despite an overall drop in real estate property prices
- In addition, there was a slight activity increase in the high-market section, to account for 17 per cent in quarter four from 15.2 per cent in the third quarter.
- These variations underscore the segmented nature of the housing market, influenced by both region and house type.
Kenyan home buyers sought cheaper houses despite an overall drop in real estate property prices throughout last the year, according to a new report.
The latest Kenya Bankers Association (KBA) Housing Price Index shows that the low market segment (Affordable Housing) recorded high demand in the last quarter, accounting for 62.3 per cent.
The shift to the low end was a steep rise compared to 48 per cent recorded in the previous quarter.
Price reduction came amidst challenges like high inflation and a weak shilling, which reduced …
- 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 …
- African Airlines revenues for January 2024 were $ 1.83 billion compared to $1.56 billion in November 2023
- Available seats per kilometre (ASKs) also exceeded the level of March 2019 by 7.7 per cent.
- Open skies will boost intra-African connectivity and drive down airfares.
Investments among the continent’s carriers have begun to pay off as African Airlines Revenues and seat numbers hit a record high, a new report by African Airline Association (AFRAA) has shown.
The number of airline seats offered in the region has increased by 12.6 per cent to 16.1 million in March 2024, thanks to new routes and flight frequencies.
For the first time in four years, the industry surpassed pre-COVID-19 monthly figures of 14.3 million, recorded in March 2019.
The year 2024 is shaping up to be a significant year of recovery for the aviation industry. Airlines have regained their pre-Covid levels of capacity and traffic and …
- Non-tariff trade barriers are restrictions trade blocs impose to further their political and economic goals.
- Kenya and Tanzania are working on resolving non-tariff trade barriers that have stifled business between East Africa’s largest economies.
- Kenya is a crucial partner for Tanzania and is the largest source of African Foreign Direct Investment in Tanzania.
The East African Community
Countries have adopted regional trading blocs as a strategy to increase global competitiveness. The East African Community (EAC) member states are dedicated to enhancing economic efficiency and fostering regional integration through strategic investments using established industries.
EAC aims to position the Community as a single investment area, harmonising trade policies, investment incentives, and product standards.
At the beginning of its operations, EAC ended non-trade barriers (NTB) between member countries intending to liberalise trade. However, this affected the NTB imposed by the members, especially Kenya and Tanzania, who are critical traders in the market.…
- Tourism in Kenya is the third-biggest foreign exchange earner after remittances and agricultural exports.
- The tourism sector’s performance has been impressive, with earnings reaching $ 2.7 billion in 2023, a 32 per cent growth from $1.8 billion recorded in 2022.
- In 2024, the sector is projected to recover to pre-pandemic levels per the strategy for tourism in Kenya 2021-2025.
Tourism in Kenya
Tourism is Kenya’s third-highest foreign exchange earner after remittances and agricultural exports.
According to the Tourism Research Institute, the industry accounts for about 10 per cent of Kenya’s gross domestic product and about 5 per cent of its formal employment.
Kenya has been a significant tourist destination in East Africa, attracting visitors worldwide to its wildlife parks, sandy beaches at the coast, diverse flora and fauna, cultural heritage, and scenic landscapes, to name a few.
However, the outbreak of COVID-19 sent shockwaves to the tourism sector, bringing it …
