Browsing: East Africa

East African Trends: A year after Corona virus, where are the stocks?

The month of March marked one year after most countries globally locked up their people, introduced tough restrictions on movement and introduced ways of containing the Novel Coronavirus (Covid-19). For East Africa, this has been a tough outing with thousands sick, and millions affected economically. The countries in the region have also reacted differently, with Rwanda and Kenya being on the extreme cautious path, while Tanzania and Burundi have applied the Laissez-Faire approach. 

Stocks in the region have been hit hard with the regional bourses shrinking significantly, as well as a loss in interest by foreign investors. The Nairobi Securities Exchange (NSE) seems to have been hard hit with an unprecedented bear run. According to the Capital Markets Authority (CMA) end-of-year statistical bulletin, all indices at the Nairobi bourse performed poorly, with net foreign outflow hitting KSh28.63 billion ($260.9M) compared to a net foreign inflow of KSh1.38 billion ($12.6M) in 2019. 

Investors wary of e-waste from East African off grid systems

According to the Global E-Waste Monitor Report, in 2019 the world generated 53.6 million metric tonnes (Mt) of electronic waste (e-waste), and only 17.4 per cent was recycled through appropriate channels. Africa in particular lacks formal governance to support e-waste management.

Households in Africa generated 2.9 Mt of e-waste in 2019, of which only 0.9 per cent was reported to be collected and recycled by the formal sector. Discarded equipment such as phones, laptops, fridges, sensors and televisions contain substances that pose serious environmental and public health risks, particularly if treated inadequately.