Arms trade thriving in Horn of Africa, increasing risks in the region

Arms trade thriving in Horn of Africa, increasing risks in the region

Arms trade thriving in Horn of Africa, increasing risks in the region

Reputational risks for businesses and for foreign investors are on the increase as the arms trade steps up a gear in Djibouti. The trade of illegal weapons in the Horn of Africa remains highly lucrative and is entwined with transnational terrorist groups, drug smuggling and the conflict in nearby Yemen. According to a new report from EXX Africa, the focus…

Uganda signs up to renewable energy deal with ATI

Uganda signs up to renewable energy deal with ATI

Uganda signs up to renewable energy deal with ATI

Uganda has become the first African country to sign an agreement with the Regional Liquidity Support Facility (RLSF), a joint initiative of the African Trade Insurance Agency (ATI) and KfW with funding from the German Ministry of Economic Cooperation and Development. Under the programme, the RLSF will offer protection to new small and mid-sized renewable energy projects (up to 50MW)…

Insurance regulation in Africa: CIMA – the benefits and challenges

Insurance regulation in Africa: CIMA – the benefits and challenges

Insurance regulation in Africa: CIMA – the benefits and challenges

Understanding changing insurance markets and regulatory developments is critical to making sure multinational programmes are compliant and competitive, no matter where they are located, and the implications can be challenging. Insurance regulators are increasingly looking to nurture risk capacity, cultivate insurance expertise and retain premiums within their insurance markets – and this can have important consequences for multinational companies, particularly…

Into Africa: how risk managers can use global programmes as part of their strategy in this fast-changing area

Into Africa: how risk managers can use global programmes as part of their strategy in this fast-changing area

Into Africa: how risk managers can use global programmes as part of their strategy in this fast-changing area

There has been an uptick in protectionism in the insurance markets of many African countries, with regulators imposing measures such as compulsory domestic cessions to state reinsurers, the introduction of minimum net premium retention levels, market capacity sharing and higher capital requirements for reinsurance cessions overseas. Erich Bentz, network partner relationship manager for EMEA and regional director of global programmes…

Kenyan economy set to stabilise, says ratings agency

Kenyan economy set to stabilise, says ratings agency

Kenyan economy set to stabilise, says ratings agency

Fitch Ratings has welcomed Kenya’s new budget, saying it is consistent with its view that debt as a proportion of GDP will stabilise. The ratings agency did caution that the budget’s growth forecasts and revenue projections were slightly more optimistic than theirs. It said: “A narrowing budget deficit also reflects a shift away from large-scale infrastructure spending. However, current spending,…

World’s fastest-growing economy set for almost 10% growth in 2018

World’s fastest-growing economy set for almost 10% growth in 2018

World’s fastest-growing economy set for almost 10% growth in 2018

Ethiopia’s GDP growth will decelerate to 9.6% in fiscal year 2018 – July 2017 to June 2018 – down from 10.9% in fiscal year 2017, but the economy remains stable and open for foreign investment. According to a new World Bank Group report, the Horn of Africa nation was the world’s fastest-growing economy in 2017. During the ten fiscal years…

Another deal struck to ease land border congestion in Africa

Another deal struck to ease land border congestion in Africa

Another deal struck to ease land border congestion in Africa

Risk managers should be breathing a sigh of relief as yet another deal is signed to ease land border difficulties in east Africa. COMESA and the International Organization for Migration (IOM) have signed a co-delegation agreement on the implementation of the small-scale cross-border trade initiative in five border posts within the region. The programme is part of a broader COMESA-European…

International trade links with Rwanda growing fast

International trade links with Rwanda growing fast

International trade links with Rwanda growing fast

Rwandan growth in 2017 was better than expected and occurred in all areas except construction, according to the latest findings of the International Monetary Fund (IMF). It said Rwanda’s export performance was particularly notable, with goods exports rising by 58%, based on strong performance of both traditional and non-traditional exports. Growth drivers in the near-medium term will be broad based,…

Risks surround investment in Djibouti

Risks surround investment in Djibouti

Risks surround investment in Djibouti

Investors looking at the Horn of Africa are being warned that, while it looks a good option, Djibouti still has a list of risks waiting for the unwary. Djibouti is seeking to become a Horn of Africa trans-shipment hub and has proved attractive to investors in recent years. Located near some of the world’s busiest shipping lanes, with access to…

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