Discovery of oil, mining and investment in energy, roads and port projects have seen Nairobi ranked as the most attractive destination for foreign direct investment in Africa, says a report.
Kenya's capital city is now the regional financial services hub only rivaled by Johannesburg on the continent.
“Nairobi outscores all African cities in FDI,” PWC says in the report titled Into Africa: The Continent’s Cities of Opportunity. Twenty African cities considered among the most dynamic and focused on the future are Abidjan, Accra, Addis Ababa, Algiers, Antananarivo, Cairo, Casablanca, Dakar, Dar-es-Salaam, Douala, Johannesburg, Kampala, Kigali, Kinshasa, Lagos, Luanda, Lusaka, Maputo, Nairobi and Tunis. Read more. Source | Daily Nation.
Fish and fish products are strongly linked to the international trade system as one of the world’s most traded food commodities. UN Food and Agriculture Organization (FAO) estimates suggest that in 2012 around 38 percent of total fisheries products were exported to the tune of US$129.2 billion. At the same time fish play an important role in feeding a growing global population. Read more. Source | International Centre For Trade and Sustainable Development
Countries in East Africa have the best environment for small and medium enterprises (SMEs) compared to other parts of the continent, an organisation has said.
African Guarantee Fund (AGF), which assists small firms gain access to funding and develop capacity, said the region had made it possible for budding businesses to thrive.
AGF Chief Executive Felix Bikpo said the trend put East Africa in high potential for economic growth, considering that SMEs are key drivers to the modern economy in the world. Read more. Source | Daily Nation
Kenya and Rwanda have connected their stock markets electronically to boost investments between the two countries and as a gesture of commitment to the regional integration of the capital markets.Read more . Source | The East African
It turns out that soaring gross domestic product, population and governance alone are not enough to predict brand success in Africa.
Rising affluence has turned the continent’s biggest economies into modern-day Meccas for consumer industries, with a growing middle class clamoring for high-quality branded goods.
However, a report by global marketing research firm Nielsen on Wednesday showed that companies that combine retail data from both modern and traditional trade and consumer shopping behavior with broader, macro environment indicators, would be better positioned to identify the right retail execution strategies that lead to sustainable growth and profitability in Africa.
"Successful consumer brands in Africa understand three key pieces of retail information: who shops where and for what; which retail outlets are the best for the product to generate sales, and how to build demand among retailers and consumers," said the head of Africa for Nielsen, Allen Burch. Read more. Source | Business Day
Nairobi Securities Exchange officially joins United Nation's Sustainable Stock Exchanges (SSE) initiative. CEO Geoffrey Otieno Odundo declared, "Nairobi Securities Exchange firmly believes that a sustainable capital market is critical to the attainment of sustainable long-term economic growth in Kenya and the East African Community." Read more. Source | UNACTAD
Speaking at the opening bell of Borsa Istanbul on 6 March,James Zhan, Director of UNCTAD's Investment and Enterprise Division said, "Investors around the world are realizing that not only is furthering gender equality the right thing to do, but it is also the economically smart thing to do. Enabling women's potential is central to ensuring sustainable and inclusive development, as well as boosting economic growth."
UNCTAD's 2014 report Investment by TNCs and Gender highlighted that Women's participation in the labor market is still limited in many countries. Globally, the gender gap in employment is as high as 25 percent. Women today represent almost 70 percent of the world's poor, earning only 10 percent of the world's income. Read more. Source | UNACTAD
Emerging markets are full of opportunity for the clever entrepreneur. Across Africa, Asia and South America are countries with millions of undeserved consumers. These people may be living on very little, but their basic needs are similar to those of wealthier people in more developed countries.
In their paper, The Fortune at the Bottom of the Pyramid, C.K Prahalad and Stuart L. Hart explain that “low-income markets present a prodigious opportunity for the world’s wealthiest companies to seek their fortunes and bring prosperity to the poor.” This opportunity exists for any company, whether it’s wealthy or not.
Designing for emerging markets, specifically those in Africa, requires an inquiring mind, the determination to question every assumption, and both the confidence and humility to engage with the right partners. Read more. Source | Ventures Africa
No Ceilings: The Full Participation Report is published by the Clinton Foundation and the Bill and Melinda Gates Foundation."Its good for business : Women's empowerment is an engine to economic growth in poor countries."
The Chicago Council on Global Affairs, known for bringing together stakeholders to examine issues and offer policy insight, recently released a report that recommends a new approach in US-Africa trade relations under the African Growth and Opportunity Act (AGOA). They recommend that American businesses tap into the growing African agriculture and food market, expected to reach $ 1 trillion by 2030.