The African Business Angels Network (ABAN) announced recently that a new angel investing network is set to launch in Tanzania in May, with a view to supporting to emergence and growth of a local angel investor community in the country. The new network will be the first community for angel investors in Tanzania. Disrupt Africa chatted to chief executive officer (CEO) of local financial management firm SSC Capital – which is spearheading the project – Salum Awadh on the plans for the Tanzania Angel Investors Network (TAIN). Read more. Source | Disrupt Africa
Access to finance, a hurdle that has for long been a major limitation to success of women entrepreneurs, could soon be history, thanks to the establishment of an all-women investment fund, ‘Rugori Fund’.
The new investment instrument, spearheaded by New Faces New Voices (NFNV) Rwanda Ltd, will be owned by women, created for women seeking to increase Rwandan women’s access to finance through existing financial services.
According to the management, Rugori Fund would have two segments, a private equity and a short term investment fund. In future, the Fund will have a technical assistance arm, which will increase chances of success and sustainability of women financed businesses and also provide grant management services for not-for-profit organisations targeting disadvantaged women. Read more. Source | New Times
Improving access by local business to markets in neighbouring countries has pushed Kenya to be ranked the second best regionally integrated in Africa after South Africa in the third edition of Visa Africa Integrated Index.
The survey of 11 African countries aims to show the extent to which countries on the continent are taking advantage of regional groupings to trade and link economically with other members.
Kenya now sells at least 35 per cent of its exports within the East African Community (EAC). Read more. Source | Business Daily
Recently, the 14th International Conference on the Ethiopian Economy organized by Ethiopia Strategy Support Programme (ESSP) of the International Food Policy Research Institute (IFPRI) was held from July 21 – 23, 2016 at the Ethiopian Economic Associations (EEA) Head Quarter in Addis Ababa.
At the conference more than 98 presentations were made in four plenary and six parallel sessions. Participants drawn from federal and regional government offices, universities across the country, civil society and international organizations, local and international research institutes and EEA members discussed on research presented by various partner institutions. The series of meetings of the conference have proved to be an excellent forum for Ethiopian and international researchers conducting research on Ethiopian economy.
The public engagement in Ethiopia has been effective on allowing youth-owned MSEs to create more job opportunities in urban areas. Read more. Source | Ethiopian Herald
A group of African Diaspora based in the US has expressed interest in investing in Rwanda’s agriculture sector.
The 10-man delegation that was in the country this week, met the Minister of State for Agriculture, Tony Nsanganira, on Wednesday at the ministry head offices, where they discussed opportunities in sericulture, fish farming, fruit processing, agro-export business, and animal feeds production.
Nsanganira told the delegation that government was keen to partner with investors in floriculture projects like the Gishwari flower park in Rwamagana District, where the government has already secured 100 hectares of land for production of cut roses targeting the export market. Of these, about 35 hectares are being developed under the pilot phase of the project that is expected to start flower exports soon. Read more. Source | New Times
The Hub's Investment Analyst Elizabeth Muange sat on the judges' panel at the PivotEAST mobile technology pitching competition. Ms. Muange made determinations in the finance category.
The finalists were impressive. They had a number of viable ideas to address technological and financial constraints through the use of mobile technology, said Ms. Muange.
The East Africa Trade and Investment Hub (the Hub) signed a cooperation agreement with the American Chamber of Commerce (AmCham) Kenya. The Memorandum of Understanding (MoU) captures the joint aspirations of both organizations to promote trade and investment between Kenya and the U.S.Read more
The U.S.-EAC Cooperation Agreement on Trade Facilitation, SPS, and TBT commits both the EAC and the United States to three objectives:
IMPLEMENT THE WTO’s TRADE FACILITATION AGREEMENT
- The Agreement commits the parties to cooperate on customs issues, including the implementation of the World Trade Organization (WTO) Trade Facilitation Agreement, reducing red tape and unnecessary formalities at borders decreasing border release times, and implementing other positive reforms laid out in the WTO Trade Facilitation Agreement to help streamline and facilitate trade. This will build on the EAC’s own work on customs reforms, which have resulted in substantial reductions in the time and costs of moving goods across borders within the EAC. For instance, container transit times from Mombasa, Kenya, to Kigali, Rwanda have declined from 21 days several years ago to six days, while associated transport costs are down by over $1,700 per container.