Fifty three offices established by private equity and venture capital companies in the East African Community (EAC) countries which comprises a cumulative minimum value of at least $5.8 billion USD under management for investments throughout the world including in East Africa. This is according to “The Map of Private Equity Firms” based in Sub-Saharan Africa by Africa’s leading private company research firm, Asoko Insight from December 2018. Read more. Source | The Exchange
Africa is the youngest continent in the world with almost 200 million people aged 15-24, and this number is expected to double by 2045. However, unemployment among East African youth is already high, at an estimated 51-57%. With a rising youth population and unemployment rate, young people are turning to entrepreneurship as both a means to generating income and jobs. 79 of every 100 jobs created by young entrepreneurs in East Africa have been for youth aged 18-34, however only 17% of entrepreneurs on the continent believe they will create a medium to high number of jobs over the next five years. Read more. Source| The Exchange
Five local small and medium enterprises could in coming months be listed on the Rwanda Stock Exchange, according to officials at the agency. The firms have been found outstanding from more than 10 SMEs, which signed Memorandum of Understanding with Rwanda Stock Exchange last year. The five small and medium enterprises have showed positive signs and ability to meet the requirements as prescribed in the last consecutive meetings held by both parties, according to Celestin Rwabukumba, the Chief Executive of Rwanda Stock Exchange.
This follows a two-month campaign, dubbed “access and grow”, launched in 2018, which was organised by Rwanda Stock Exchange in partnership with Capital Market Authority and USAID targeting about 300 SMEs from all sectors of the economy as a way to enable them access long-term investment capital. Read more. Source | New Times
Rwanda’s Private Sector Federation (PSF) has challenged regional legislators to increase their advocacy for policies designated to eliminate trade barriers, which continue to undermine regional integration. Officials from the umbrella of Rwandan business community were yesterday meeting members of the East African Legislative Assembly (EALA) who are undertaking an outreach programme in partner states. Read more. Source | New Times
The chief executive of the East African Business Council Peter Mathuki spoke with Patty Magubira on the region’s economic prospects for 2019. With regards to challenges the East Africa Community faced in 2018, he outlined that most of them were compounded by protectionist approaches that hindered trade within the East African Community.
"EAC intra-trade stood at only 20 per cent of the total, compared with 46 per cent in the Southern African Development Community, and 67 per cent in the European Union. We have partly implemented the Common Market Protocol, which helped the EAC become the fastest growing regional economic bloc," he said. Read more. Source | East African
A significant percentage of maize produce is rejected by agro-processing factories due to poor quality caused by high level of humidity due to poor post-harvest handling stage. The main problem preventing maize farmers from accessing stable markets include “aflatoxins”, which are poisonous substances regularly found in improperly stored staple commodities such as maize, rice, sorghum, millet, wheat, cassava and others. Read more. Source | New Times
Fourteen local Rwandan private companies have been featured among the top private firms by London Stock Exchange Group in its latest ‘Companies to Inspire Africa’ report, which was released on Wednesday. The 14 local companies highlighted in the report, which was released at a conference in London ,are believed to be among Africa’s fastest growing and arguably the most dynamic businesses. Read more. Source | New Times
Total investments into the country have been valued at $2.006B surpassing the $2B target. This is a growth from $1.675B recorded in 2017 up and $1.16B registered in 2016.Data from the Rwanda Development Board shows that the largest investments were in manufacturing, mining, agriculture and agro-processing. 26 per cent were export-oriented projects.
In 2018, the largest share of investments came from domestic investors as opposed to previous years when Foreign Direct Investments have dominated. 49 per cent of total investments were domestic while 47 per cent were foreign. Read more. Source | New Times
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
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