Browsing: East Africa

Water Infrastructure Green Bond
  • This project is expected to improve and increase water supply from 96 per cent to 100 per cent in Tanga City.
  • The government of Tanzania adopted the Alternative Project Financing (APF) strategy in 2021
  • Mark Napier, CEO of FSD Africa, commended the collaborative effort behind the Tanga UWASA Green Bond.

The first ever Sub-national Water Infrastructure Green Bond in East Africa, worth $20.8 million, has been issued by Tanga Urban Water Supply and Sanitation Authority (Tanga UWASA), an autonomous water utility.

This landmark transaction would fund the expansion and improvement of sustainable water supply infrastructure and environmental conservation within Tanga City and nearby townships. The 10-year project revenue bond listed at the Dar es Salaam Stock Exchange (DSE) offers an attractive interest rate of 13.5 per cent per annum to be paid semiannually.

The government of Tanzania adopted the Alternative Project Financing (APF) strategy in 2021 because of the need …

Africa's economic growth 2024
  • Africa’s economic growth in 2024 is expected to be upward with the real GDP projected to grow by 3.2 per cent, up from 2.6 per cent in 2023.
  • East Africa, encompassing Ethiopia, Kenya, Uganda, Rwanda, Tanzania, and the DRC, will again power the continent’s growth prospects.
  • Despite the projected continental growth, the intelligence unit faces substantial risks, including security threats, political instability, and debt repayment burdens.

Africa’s economic growth 2024

According to the international research unit, Economic Intelligence, Africa is expected to grow at the second-fastest rate among major regions globally in 2024. The unit ranks behind Asia, which China and India will propel.

Except for Sudan and Equatorial Guinea, whose economies appear destined to decline this year, most African governments are predicted to report good growth stories.

The real African GDP is expected to rise by 3.2 per cent in 2024, up from 2.6 per cent in 2023,

Kenya's Electricity Imports
  • Kenya’s electricity imports from its neighbours have more than doubled
  • For years, Ethiopia has supplanted Uganda from position one, Kenya’s top source of power imports.
  • The East African nation has revealed that it needs $5.3 billion to overhaul power transmission lines and forestall frequent blackouts.

Kenya’s electricity imports from its neighbours have more than doubled in the past year amid increased demand and a slower pace of investment in energy infrastructure.

Data by the Kenya National Bureau of Statistics (KNBS) said the country imported 706.9 million kWh of electricity from Ethiopia and Uganda in the first 11 months of 2023, up from 288.27 million kWh in a similar period in 2022.

The bulk of the power imports — 546.5 million kWh — were sourced from Ethiopia during the period, according to KNBS, with the country emerging as Kenya’s biggest electricity supplier in the region. Ethiopia has supplanted Uganda from the …

Africa's greatest transportation corridor
  • President Mama Samia Suluhu Hassan is leading Tanzania to become Africa’s greatest transportation corridor. 
  • The comprehensive transportation developments in Tanzania are strategically designed to boost economic growth, enhance regional trade, and foster regional integration.
  • Tanzania faces challenges in financing and meeting construction timelines for its ambitious projects.

In the heart of East Africa, a remarkable transformation is unfolding. Led by President Mama Samia Suluhu Hassan, Tanzania is emerging as a formidable economic powerhouse on the continent. Under her stewardship, the nation strategically harnesses its geographic location and embarks on ambitious infrastructure projects that promise to redefine its role regionally and globally.

With a visionary approach, President Suluhu Hassan is steering Tanzania towards becoming Africa’s most significant transportation corridor. This transformation is anchored in large-scale investments in transportation infrastructure, encompassing rail, road, air, and sea connectivity. These initiatives reflect an acute understanding of the pivotal role that efficient, modern transportation systems …

visa-free entry policy in Kenya
  • President William Ruto’s announcement of Kenya’s visa-free entry policy for all visitors starting January 2024 marks a paradigm shift in the region’s economic and social landscape.
  • The policy is expected to boost Kenya’s economy by attracting more tourists and business travellers, thus increasing revenue and foreign exchange.
  • Addressing the accompanying challenges will be crucial to ensuring the policy’s success and sustainable growth in the region.

Kenya, a country known for its rich wildlife, vibrant culture, and dynamic economy, is poised to make a significant leap in becoming a hub for investors and business in East Africa. President William Ruto’s announcement of Kenya’s visa-free entry policy for all visitors starting January 2024 marks a paradigm shift in the region’s economic and social landscape. As the visa-free entry date nears, it is important to explore how Kenya is set to redefine the dynamics of business and investment in East Africa.

Overview of

family businesses
  • Most East African family businesses believe that it is essential to be trusted by customers, employees and family members. 
  • Among those who consider trust among each group important: 56% are fully trusted by customers, 47% are fully trusted by employees and 77% are fully trusted by family members.
  • East Africa’s level of trust is slightly higher than global survey on family businesses.

Family businesses in East Africa demonstrated robust performance over the past financial year, with 64 percent experiencing growth, compared to 46 percent in 2021, as indicated by a survey conducted by the advisory firm PwC. The PwC’s East Africa Family Business Survey 2023 affirms the resilience of family businesses, consistently overcoming geopolitical challenges.

Despite their success, experts emphasize that these businesses must adopt new priorities to ensure the longevity of their legacies. The landscape of building trust in business is undergoing a fundamental and rapid transformation. Environmental, Social,

Dubai Ports World
  • Dubai Ports World (DP World), based in the United Arab Emirates, is rapidly expanding its operations across Africa to become a dominant player in the region’s commerce.
  • Establishing a streamlined commerce corridor connecting East Africa and the Great Lakes region is a fundamental plank of DP World’s overall strategy.
  • DP World seeks to regulate and strengthen African trade by tackling the difficulties of logistics and storage with cutting-edge digital solutions.

Dubai Ports World in Africa

As the Africa Continental Free Trade Act ushers in a new era of African trade, a significant participant rises from the Arabian Peninsula. Dubai Ports World (DP World), based in the United Arab Emirates, is rapidly expanding its operations across Africa to become a dominant player in the region’s commerce.

The story’s action begins in one of East Africa’s thriving harbours. The vast potential of the Kenyan ports of Mombasa, Lamu, Kisumu, and Naivasha has …

Pamoja AFCON Bid 2027

The Confederation of African Football (CAF) has selected Kenya, Tanzania, and Uganda to host the 2027 Africa Cup of Nations (AFCON) over bids from Morocco, Algeria, Senegal, Botswana, and Egypt. The East Africa joint bid, commonly called the “Pamoja AFCON Bid,” has won the hosting rights for the 2027 AFCON as Morocco takes the rights for the 2025 showpiece.

CAF president Patrice Motsepe announced the news on Wednesday morning, 27 September, shortly after the body held an executive committee meeting in its headquarters in Cairo, Egypt. Recommendations from several nations boosted the East Africa Pamoja AFCON Bid. In a move that will elate East African sports enthusiasts, the CAF Executive Committee chose the Pamoja Afcon Bid.…

tourist arrivals

International tourist arrivals grew 32 per cent in the half-year to June, closing at 847,810 as Kenya’s tourism sector growth continued post-Covid-19. This was up from 642,861 arrivals recorded in the same period last year, as official data from the Ministry of Tourism indicates.
The performance represents a 92 per cent recovery compared to the same period in 2019. The increased numbers came with higher earnings for the country and the sector.…

Kenya-Indonesia
  • Investment and trade between the two countries was valued at more than $600 million last year.
  • Kenya’s exports last year increased to $7.9 million from $6.3 million in 2021, the country’s Economic Survey 2023 indicates.
  • Imports from Indonesia were valued at $187.7 million having dropped from $307.5 million the previous year.

Kenya is now keen to increase trade volumes mainly exports to the Asean market, with its renewed ties with Indonesia. President William Ruto said investment scope will also be broadened to bring about a balance of trade that is currently in favour of the Southeast Asian country.

“We will seize our energies and create the necessary environment for increased trade between our countries,” President Ruto said on Monday.

Investment and trade between the two countries was valued at more than $600 million last year. Indonesian economy registered a growth of  5.3 per cent in 2022 compared to of …