• The Strategic Partner for the event is Saud Bahwan Group.
• Moroccan Investment and Export Development Agency and Jordan’s Ministry of Investment are the Gold Partners.
• Silver Sponsors for the event are the Ajman Chamber of Commerce and Industry, and Invest in Sharjah.

Key partners of the AIM Congress 2024 have backed the vision of the event as an exceptional platform for exploring new ways to enhance global economic and investment cooperation.

The 13th edition of the 2024 AIM Congress is supported by over 330+ international and global partners, who have affirmed that the summit has evolved into a global gathering of elite decision-makers, business leaders, investors, and government officials from across the world.

They come together to exchange expertise and ideas, stimulate global economic growth, and present the best investment opportunities to the global business community. Additionally, they recognize its role in enriching the economic landscape of Abu Dhabi and …

• AIM Congress 2024 attendees were treated to a plethora of insights and strategies aimed at enhancing investment attraction and bolstering economic growth.
• One of the standout sessions was “Digital Marketing Solutions: by WAVETEQ,” focusing on cost-effective digital marketing strategies.
• The innovation and technology track showcased cutting-edge solutions to revolutionise urban planning, smart city development, and digitalization in various sectors.

Strategic collaborations and insightful discussions on global business are set to peak as AIM Congress 2024 begins Tuesday, May 7th, 2024. On the eve of the international forum, the premier global investment platform has concluded its series of pre-event workshops held at ADNEC in Abu Dhabi. These workshops have primed the attendees, setting the stage for strategic insights and collaborations.

Investment Track Highlights at AIM Congress 2024

In the investment track, attendees were treated to a plethora of insights and strategies to enhance investment attraction and bolster economic growth. One of …

• Kenya and Tanzania, already reeling from nature’s fury, now confront the looming threat of Cyclone Hidaya.
• Cyclone Hidaya’s trajectory places the eastern coast of Tanzania squarely in its crosshairs as neighbouring Kenya braces for floods.
• The relentless deluge gripping East Africa originates in the El Nino weather pattern.

Millions of people in Tanzania and Kenya are on edge as Cyclone Hidaya, a formidable tempest, barrels toward the region, exacerbating the havoc wrought by ongoing heavy downpours and catastrophic floods that have claimed hundreds of lives across East Africa.

Kenya and Tanzania, already reeling from nature’s fury, now confront the looming threat of a cyclone poised to unleash further devastation, with forecasts predicting a grim landfall later on Friday, May 3rd.

Cyclone Hidaya’s trajectory currently places the eastern coast of Tanzania squarely in its crosshairs, with fears mounting over its potential impact on neighbouring Kenya. As meteorological projections paint a …

• EAC Monetary Affairs Committee (MAC) meets every year to asses the region’s progess.
• This year the MAC meeting will be held in Juba, South Sudan.
• Sectors like fishing, timber, and agriculture have been identified as potential areas for growth and revenue generation.

East Africa Community governors of central banks are set to meet to assess the regions’ economic scorecard and avenues for investments. The chair of the EAC Monetary Affairs Committee James Alic Garang, who is the Bank of South Sudan governor said that single currency for the EA region will feature prominently in the deliberations.

This body meets annually, usually around April or March, to take stock of the progress and challenges along the path of establishing monetary union. This coming at a time that the East African Community member-states are in a race to harmonise critical policies and putt in place the institutions to attain a single currency …

• The prices of key food commodities influenced Kenya’s Inflation drop.
• KNBS says the food and non-alcoholic beverage index, which represents 32.9 per cent of inflation measurement, dropped by 0.1 per cent.
• KNBS data adds that housing, water, electricity, gas, and other fuels’ index dropped by 1.3 per cent

Kenya’s inflation dropped to a record 24-month low in April, hitting five per cent, according to the latest data from the Kenya National Bureau of Statistics, as prices of key food commodities continued to fall.

This is the third month in a row that the index has dropped, from 6.9 per cent in January to 6.3 per cent in February 5.7 per cent in March, and now five per cent last month.  The continued drop comes despite some price rises on some indices.

Major contributors to April’s year-on-year price rises included transport, food and non-alcoholic beverages, housing, water, electricity, gas and other …

• Payment for ransomware attacks is not only impacting large businesses even smaller ones have been hit with 7-figure demand.
• The rate of ransomware attacks falls slightly, but recovery costs hit $2.73 million.
• Despite the soaring ransoms, this year’s survey indicates a slight reduction in the rate of ransomware attacks

The amount organisations are paying to get back their data from cyber criminals has increased by 500 per cent in the past year, a new report by Cybersecurity solutions provider Sophos has revealed.

Sophos, in its annual “State of Ransomware 2024” survey, says this has seen organizations that paid the ransom report an average payment of $2 million, up from $400,000 in 2023, with ransoms being just one part of the cost.

Excluding ransoms, the survey found the average cost of recovery reached $2.73 million, an increase of almost $1 million since the $1.82 million that Sophos reported in 2023. …

• US Congress members ask Speaker Mike Johnson to invite President Ruto to address the assembly.
• President Ruto will be visiting the US on May 23 to mark 60 years of US-Kenya diplomatic ties.
• If invited, President Ruto would become the first Kenyan Head of State to address a joint session of US Congress.

In a historic plan highlighting the deepening ties between the United States and Kenya, House Foreign Affairs Committee chairman Michael McCaul (Republican – Texas) and Ranking Member Gregory Meeks (Democrat – New York) have jointly sent a letter to Speaker of the House Mike Johnson (Republican – Los Angeles, asking him to extend a formal invitation to President William Ruto of Kenya to address a joint session of Congress during his upcoming visit to the US, slated later in May.

“This year, we are celebrating the historic 60-year anniversary of the U.S.-Kenya diplomatic relationship. Such an invitation …

• The IMF has identified South Sudan, Burundi, and the DRC as East African Community member states poised for significant economic growth in the 2024–2025 period.
• GDP growth in Burundi is projected to increase from 4.3 to 5.4 percent and in the DRC from 4.7 to 5.7%.
• Kenya leads regionally with a projected GDP of $104 billion, ranking 7th overall among the continent’s largest economies.

The economic outlook for East African Community member states South Sudan, Burundi, and the Democratic Republic of the Congo (DRC) is poised for significant economic growth in the 2024–2025 period. This prognosis by the International Monetary Fund (IMF) comes despite these nations grappling with conflicts, marking them as among the most fragile in the region.

In its latest regional economic outlook report for Sub-Saharan Africa, the IMF forecasts a noteworthy 1.2 percent gross domestic product (GDP) growth for South Sudan, from 5.6 to 6.8 percent, despite …

• The proposed AGOA extension signals a commitment to bolstering trade relations between the US and Africa.
• US Senators Chris Coons and James Risch have introduced the bipartisan Agoa Renewal and Improvement Act of 2024, aiming to integrate AGOA with the AfCFTA.
• Bill aims to refine AGOA’s eligibility criteria, increase transparency, and hold US agencies accountable for their advice to the president: Senator Risch

AGOA extension proposal

The US Congress has proposed extending the African Growth and Opportunity Act (Agoa) to 2041, covering all 54 African countries. Senators Chris Coons of Delaware and James Risch of Idaho introduced the bipartisan Agoa Renewal and Improvement Act of 2024, aiming to integrate Agoa with the African Continental Free Trade Agreement (AfCFTA) to foster intra-African supply chains.

Originally enacted in 2000, Agoa is set to expire next year. However, the proposed extension signals a commitment to bolstering trade relations between the United States and …

• Authorities in South Sudan have imposed a fuel tax on UN fuel tankers, obstructing the delivery of crucial humanitarian aid, jeopardizing assistance to millions of famine-stricken civilians.
• Despite assurances from government officials, including the Minister of Humanitarian Affairs, UN fuel tankers remain detained.
• The impasse is increasingly exacerbating an already dire humanitarian situation in South Sudan.

In a distressing turn of events, UN humanitarian operations in South Sudan targeting famine-stricken populations are at risk of stoppage due to a dispute over a fuel tax levied by South Sudanese authorities on United Nations fuel tankers.

Despite assurances from the Minister of Humanitarian Affairs just a day prior, UN fuel tankers remained detained at depots and the Ugandan border on Wednesday. The Minister had stated that the newly imposed tax on trucks transporting fuel and essential supplies did not extend to UN humanitarian operations, yet the reality proved otherwise, lamented a spokesperson …