Browsing: East Africa

• Dr Kamau Thugge, who is President Ruto’s advisor on fiscal affairs, is set to take over from Dr Patrick Njoroge.
• Previously, Dr Thugge served as the Permanent Secretary at Kenya’s National Treasury between 2013 and 2019.
• Prior to his nomination as Principal Secretary, he worked as a senior economic adviser in the Ministry of Finance since 2010.

President William Ruto has nominated former IMF economist Dr Kamau Thugge for appointment to head the Central Bank of Kenya. Dr Ruto picked Dr Thugge out of a list of six candidates who were interviewed on May 9th for the job that helps define Kenya’s fiscal policy.

Dr Thugge is not a stranger at Kenya’s financial industry. For close to 10 years, between 2013 and 2019, he served as the Principal Secretary, National Treasury under former President Uhuru Kenyatta. He was, however, hounded out of office over allegations of corruption. The scandal, which …

• Across the East Africa region, Rwanda posted the strongest performance.
• Uganda’s economy grew by 4.4 percent in 2022 compared to a 6.7 percent uptick in 2021.
• Tanzania’s real GDP expanded by 4.5 percent in 2022 compared to 4.9 percent growth in 2021.

Kenya’s economy recorded a slower growth of 4.8 percent last year as agriculture slumped due to severe drought. In 2021, Kenya posted 7.6 percent growth as the country emerged from Covid-19 induced economic fallout.

Latest data from the Kenya National Bureau of Statistics show that East Africa’s economic powerhouse growth outpaced its neighbours. Kenya saw its nominal GDP increase to $98.24 billion, from $87.98 billion in 2021, retaining its pole position over East African peers.

Uganda’s economy grew by 4.4 percent in 2022 compared to a 6.7 percent growth in 2021. The marginal drop was partly on account of recovery in hospitality and other service sectors as schools …

• In a fresh strategy, Kenya Tourism Board (KTB) says arrivals from China hold massive potential in contributing to the country’s tourism earnings.
• China accounted for 82,180 and 83,388 arrivals in 2018 and 2019 respectively positioning itself as Kenya’s sixth largest source market.
• Before the pandemic, China was the world’s largest outbound travel market with over 150 million travelers, whose spending contributed up to $255 billion to global tourism industry. 

The Kenya Tourism Board (KTB) is looking to capitalize on outdoor and nature-based tourism experiences, a move aimed at attracting a significant number of Chinese tourists to sample the sector’s offerings in East Africa’s largest economy. 

KTB Chairperson Francis Gichaba says the initiative is part of the state agency’s efforts to shore up tourism numbers from the growing Chinese market even as the industry recovers from Covid-19 pandemic-induced hit.

Mr Gichaba said the new strategy is aimed at increasing arrivals from …

• In Kenya, the airline is projected to register 19% more seats than in 2022.
•  The expected growth is attributed to increased business travel post the August 2022 general elections.
• New Regional General Manager exhibits confidence in Nairobi’s ability to support Air France-KLM operations by providing a stable and developing business climate and regional connectivity.

Air France KLM Group is keen to solidify its position in the East African market and meet the fast- changing consumer needs, as it embarks on its 2023 growth plan.

This comes after a challenging Covid-19 pandemic season that saw air travel falling sharply prompting airlines to cut capacity.

The new  Air France – KLM General Manager, East and Southern Africa, Nigeria, and Ghana, based in Nairobi Marius van der Ham said: “For 2023, we aim to capitalize on the gains made in 2022 to further solidify our position in the East Africa market. This …

• The market is currently dominated by Isuzu and Toyota.
• Majority of Kenyans prefer cheaper second-hand cars imported mainly from Japan. 
• The new Landtrek enables Peugeot to make a comeback in a pick-up market where it has a strong heritage, including legendary models such as 404 wagon and the 504 pick-up, which won the 1984 African Rally championships.

Peugeot is seeking to grow its sales in Kenya as it moves to introduce a new pick-up truck in the market that has been dominated by Isuzu and Toyota in recent years. The French automaker has launched its latest pick-up truck, the Peugeot Landtrek, in the country.

The vehicle is set to make a bold statement in the one-ton pick-up segment seeing as its built to meet the demands of vibrant pickup markets across the continent.

The Peugeot Landtrek is suitable for both professional and family needs. The vehicle is fitted with the …