Browsing: Rwanda

• Most African countries are set to increase their economic growth next year compared to 2023, with East Africa leading the charge.
• Countries will be powered by their travel, tourism, transport, logistics, financial, and telco sectors.
• However, some African countries will not enjoy this fastest-growing economy wave as they will be under severe financial stress in 2024 due to their huge debt obligations.

The most recent analysis from the Economist Intelligence Unit (EIU) predicts that by 2024, Africa will have the world’s second-fastest expanding major area, behind only Asia. According to the EIU’s African Economic Outlook, Africa’s amazing growth trajectory is evidence of the continent’s resiliency and its enormous unrealized economic potential.

Most African countries are set to increase their economic development compared to 2023, with East Africa leading the charge, as noted by the EIU’s Africa Economic Outlook. Powered by their thriving travel, tourism, and hospitality industries as well …

• Starlink, SpaceX’s satellite internet service, has shown strong performance in Nigeria and Rwanda during the second quarter of 2023.
• In Nigeria, Starlink outperformed traditional fixed broadband providers, delivering a median download speed of 63.69Mbps.
• Starlink’s internet speeds were substantially faster than the combined median speed of all fixed broadband providers in Nigeria at 15.60Mbps.

Starlink, SpaceX’s satellite internet service, has shown strong results in Nigeria and Rwanda during the second quarter of 2023, in the fast-changing landscape of internet connectivity in Africa.

According to Speedtest Intelligence data, Starlink has outperformed traditional fixed broadband providers in terms of download speeds in Nigeria, while making notable strides in Rwanda despite some latency challenges.

Starlink in Nigeria

Starlink made its debut on the African continent in Nigeria in January 2023 and has already begun to make its presence felt. The Speedtest Intelligence data for the second quarter of 2023 revealed that Starlink users …

The aviation industry in Africa is currently experiencing an upward growth trend and presents a positive financial outlook for African airlines in 2023 compared to 2022. Projections indicate that overall air traffic growth in Africa will exceed the global average of 6.1 per cent, reaching an impressive 7.4 per cent, with flights already surpassing pre-pandemic levels.

These revelations emerged during the recently concluded 7th Aviation African Summit & Exhibition, which took place on September 13th and 14th, 2023, in Abuja, Nigeria. This landmark event has been lauded as the most prominent summit, drawing nearly 1,500 delegates from over 75 countries and boasting more than 110 global exhibitors and sponsors.…

• Kenya’s appeal comes at a moment when East Africa has seen only one exit through an IPO in the past decade.
• 2022 marked the highest level of exit activity in the region in the past decade. Projections show that 2023 is poised to surpass 2022 performance.
• Private Equity investors typically opt for one of three main methods to exit their investments: selling to industry competitors, conducting secondary buyouts, or engaging in Management Buyouts (MBOs).

Kenya is urging private equity firms and venture capital companies to turn to the Nairobi Securities Exchange (NSE) as a platform to realize their deal exits.

The move is part of the Kenyan government’s broader strategy to deepen its capital markets and attract more private investments. “Once you are in, exit through our capital markets,” said Mr. Abubakar Hassan Abubakar, the Principal Secretary of the State Department of Investment Promotion in the Ministry of …

• France is leading Europe in accepting colonial mistakes and returning human remains taken from Africa.
• Should restitution of African artifacts also include economic compensation?
• Germany is also agreeing to respond to restitution requests by African countries.

France has once again taken steps to reconcile its patchy colonial ties with Africa, this time championing human remains restitution by returning artifacts, human skulls, bones, and other items of historical value.

These human remains are mostly of great African heroes, who opposed colonial rule in the 17^th and 18th centuries. The return of the human remains has been effected by France’s University of Strasbourg. And it is part of an ongoing human remains restitution demanded by several African countries. Most of the latest demands are from Namibia and Tanzania where historic human remains are coming home.

Germany on human remains restitution

In the same vein, Germany is under criticism for failing to …

Rwanda’s economy displayed strong growth, with a 9.2 per cent expansion in the first quarter of 2023, following an 8.2 per cent growth in 2022. However, recent floods resulted in loss of life and infrastructure destruction, leading to a projected moderation of momentum to 5.8 per cent in 2023, slightly lower than the pre-disaster forecast of 6.2 per cent.…

• The Kigali Bulk Water Supply Project will be AfDB’s first private sector operation in landlocked Rwanda.
• The initiative covers the installation of a new water treatment plant, the building new wells and rehabilitating existing ones.
• It is also providing pipelines, storage reservoirs, pumping stations and water points in various parts of Kigali city.

The African Development Bank (AfDB)-backed water distribution project in Kigali, Rwanda, will benefit about 500,000 people. Rwanda, along with various development partners and agencies, has prioritised investments in water infrastructure and implemented reforms to enhance access to safe and reliable water sources.

Currently, water supply in Kigali is managed by the Water and Sanitation Corporation (WASAC). The entity is a public utility responsible for water production, treatment, and distribution. WASAC has been working to expand and upgrade the water supply infrastructure to meet the growing demand in the city.

Kigali yet to offer universal water