Browsing: Rwanda

• Burundi and Rwanda relations have hit a new low, with the Burundian government suspending ties with Rwanda, closing the Rwandan border.
• The diplomatic row between Burundi and Rwanda has a complex history, with tensions dating back to the colonial era and continuing into the post-independence period.
• The border closure further strains relations between Burundi and Rwanda, as well as the larger East African Community (EAC).

Burundi and Rwanda relations have hit a new low, with the Burundian government suspending ties with Rwanda, closing the Rwandan border, and “chasing” out Rwandese nationals.

Burundi has accused its neighbour of supporting rebel attacks in the region. The move comes after Burundi’s President Évariste Ndayishimiye accused Rwanda of backing the Red Tabara rebel group, which orchestrated an attack near Burundi’s western border, where 20 people lost their lives, including women and children.

“We have closed our borders (with Rwanda), anyone who tries to …

Africa will be the second fastest-growing regional economy in 2024. Over 10 African countries will experience substantial GDP growth. In October 2024, the International Monetary Fund emphasized Africa’s pivotal role in global economic development and resilience.

Africa could face economic headwinds this year. However, some of the continent’s brightest spots are lighting up the economic prospects. According to the International Monetary Fund, six of the top 10 performing nations globally are projected to come from Africa in 2024.…

• Burundi is the other country projected to record one of the fastest growing economies in 2024, according to the IMF.
• The Fastest Growing Economies in 2024 (real GPD growth) projections index places Rwanda ahead of her regional peers with a projected growth of 7.0% next year.
• Tanzania comes in closely with a projected growth of 6.1% while that of Burundi is forecast to grow at 6%.

Rwanda, Tanzania and Burundi will be the fastest growing economies in East Africa in 2024, the latest projection by the International Monetary Fund (IMF) indicates, with all countries posting economic growth above the world’s average.

The Fastest Growing Economies in 2024 (real GPD growth) projections index places Rwanda ahead of her East African Community (EAC) peers with a projected growth of seven per cent this year.

Tanzania comes in closely with a projected growth of 6.1 per cent while that of Burundi is projected …

• Kenya’s Bluewave Insurance Agency has announced plans to raise $6 million to expand into five new African markets to increase insurance penetration in markets characterized by low uptake.
• Company Founder and CEO Adelaide Odhiambo says the investment would be raised over the next three years.
• The insurer is partnering with Mobile Network Operators and banks to distribute affordable micro-insurance products, with plans to enter Uganda, Nigeria, Ethiopia, Malawi, DRC, Tanzania, Rwanda, and Zambia.

Kenya’s Bluewave Insurance Agency has announced plans to raise $6 million as the firm seeks to expand into five new African markets, aiming to increase insurance penetration in regions characterized by low uptake. Adelaide Odhiambo, Founder and CEO of Bluewave Insurance Agency, stated that the investment would be raised over the next three years to support the expansion plans.

Bluewave Insurance Agency’s new target markets

The company has forged partnerships with large aggregators, specifically Mobile Network Operators …

• 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 …