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East African trade and investment news

East Africa’s investment policies hurting foreign inflows into region

Published on December 13, 2018

East African countries’ increasing restrictions on foreign investments are being blamed for the decline in foreign inflows into the region. A new survey by the US-based advisory firm AT Kearney shows that investors are more concerned about the operating environment in emerging markets and prefer putting their money into the US economy due to the country’s large domestic market, improving economic performance and new, lower corporate tax rate. Read more. Source | East African

World Bank Meet on Macro-economics, Trade & Investment Climate lauds Kenya’s business climate reforms

Published on December 13, 2018

Kenya’s efforts on business climate have been lauded as transformational in the ongoing Macro-economics, Trade and Investment Climate Doing Business technical deep- dive for Africa and Middle East, hosted by the world bank in Dubai. Kenya was selected as one of the 16 economies participating in this year’s forum given its impressive reform program since 2014. “Our commitment at the highest level of Government on this program has been a critical enabler to the success witnessed so far. The hard part lies in making the additional necessary reforms that are needed to make it even easier especially for our SME’s to do business”, said CS Adan Mohamed who was the chief guest in this year’s event. Read more. Source | Capital Business

Youth, women take centre stage at Africa 2018 forum

Published on December 13, 2018

This year’s Africa 2018 Forum in Sharm El Sheikh, Egypt which took place over the weekend placed special focus on issues of concern to African youth and women.The events will featured a Young Entrepreneurs’ Day and a discussion on Women Empowering Africa. The two-day event was organised by the Egyptian government through the Ministry of Investment and International Cooperation and COMESA Regional Investment Agency (RIA), with the participation of more than 3,000 African entrepreneurs. Read more. Source | NewTimes

Mauritius leads in foreign investments in Rwanda

Published on December 13, 2018

Mauritian investors currently have the most investments in the country with a majority of their investments spread in tourism, energy, wholesale and manufacturing.This is according to a Foreign Private Capital survey conducted by the Central Bank to determine the direction, magnitude and trends of Foreign Private Investment. Read more. Source | New Times

Relief as Tanzania moves to ease doing business for Rwandan traders

Published on December 13, 2018

Tanzanian Minister for Works, Transport and Communication, Isack Kamwelwe, on Tuesday met Rwandan business community, especially traders exporting and importing goods using Tanzanian ports. He was in Kigali to meet his Rwandan counterpart, Claver Gatete, on the financing of the Isaka-Kigali Standard Gauge Railway (SGR) project aimed at reducing logistics costs, boost trade and ease the movement of people. Read more. Source | New Times

RwandAir to use Accra hub to feed its direct flights to the US

Published on December 13, 2018

RwandAir will use the West African hub of Accra to feed its direct flights to the US once it gets the final approval from the US's Federal Aviation Agency (FAA). RwandAir chief executive officer Yvonne Makolo said that the Ghanaian city will facilitate connecting traffic around Africa. “We are making sure the New York flight is able to connect to the East Africa region. We'll be flying the Kigali-Accra-New York route, so we'll be looking at the West Africa market,” Ms Makolo added. Read more. Source | The East African

Digital wallet concept can boost farming

Published on December 13, 2018

On the sidelines of TechCrunch Battlefield Africa in Lagos, Nigeria, on December 11, a new platform that utilises Artificial Intelligence (AI) and Machine Learning to predict crop yields was launched. This technology, when combined with advanced data analytics and blockchain, can further be used to develop a credit score for advancing non-collateralised loans to farmers.

IBM Research Africa partnered with Hello Tractor, a mobile platform to enable farmers hire tractors on demand, to develop an agriculture digital wallet and decision-making platform that provides demand and supply visibility for farmers, tractor fleet operators and banks to give farmers the equipment and technology they need to build a sustainable farming enterprise. Read more. Source | Business Daily

Why EAC Monetary Union could be delayed

Published on December 11, 2018

East Africa's plan to have a single currency by the year 2024 could be delayed if the recommendations by the region’s Sectoral Council on Finance and Economic Affairs (SCFEA) is anything to go by. SCFEA has asked the EAC Council of Ministers to consider amending the East African Monetary Union (EAMU) protocol to grant some key institutions the independence they require to operate smoothly. Read more. Source | East African 

Sh1.9 billion coffee sold between Oct and Nov

Published on December 11, 2018

The value of marketed coffee between October and November hit Sh1.6 billion helped by quality beans from western Kenya. Nairobi Coffee Exchange (NCE) indicates the value rose from Sh1.57 billion between October and November last year to Sh1.61 in the review period. The report shows volumes at the exchange moved up 22.62 per cent from 63,891 kilos sold in 2017 to 78,342 this year. Read more. Source | Daily Nation

Rwanda the emerging economy to watch

Published on December 06, 2018

The tiny East African nation has proven to be a role model for the continent.

During her November 2018 visit to Rwanda, World Bank CEO Kristalina Georgieva described the country as one that has enjoyed impressive growth and often has bold ambitions.

In recent years, at business summits across the world, it’s not uncommon to hear such praise about Rwanda. Various speakers have singled it out as one of the emerging economies to look out for in terms of investment opportunities, value for money and economic growth. Read more. Source | Forbes