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…

Cross-border deal to reduce risks for small-scale cross-border trade flows in east Africa

Cross-border deal to reduce risks for small-scale cross-border trade flows in east Africa

Cross-border deal to reduce risks for small-scale cross-border trade flows in east Africa

The Common Market for Eastern and Southern Africa (COMESA) and the European Union have signed a €15m cross-border trade programme to facilitate small-scale cross-border trade flows. Financed under the 11th European Development Fund to increase formal small-scale cross-border trade flows in the COMESA/tripartite region, the programme will support governance reforms, institutional capacity building, improved border infrastructures and better data collection…

Kenyan insurer CIC looks to South Sudan for growth

Kenyan insurer CIC looks to South Sudan for growth

Kenyan insurer CIC looks to South Sudan for growth

Nairobi-based CIC Insurance Group is looking to South Sudan to build its medical cover business. CEO Tom Gitogo said the NGO world in South Sudan is driving that economy, with high demand for medical cover. He added: “We want to work with NGOs to enrol medical cover in South Sudan. This is one of our growth strategies and just last…

Rwanda’s rating affirmed at ‘B+’

Rwanda’s rating affirmed at ‘B+’

Rwanda’s rating affirmed at ‘B+’

Rwanda’s strong governance and doing business metrics, low public debt/GDP and high-growth potential have all helped Fitch Ratings affirm the country’s long-term foreign-currency issuer default rating at ‘B+’ with a stable outlook. The rating is weighed down by the country’s low income per capita and its persistent and large current account deficits, said Fitch. Rwanda outperforms the ‘B’ and ‘BB’…

Comoros-based (re)insurer appoints pair of new NEDs

Comoros-based (re)insurer appoints pair of new NEDs

Comoros-based (re)insurer appoints pair of new NEDs

Sir Bernard Zissman and Tim Eppel have been formally welcomed onto the board of Klapton as non-executive directors. The board appointed them last month and believes they will bring both a wealth of experience and further strengthen the corporate governance of Klapton. Comoros-based (re)insurer Klapton was formed in 2005, with reserves of more than €40m and focuses on core activity lines,…

New link set to reduce road travel risks

New link set to reduce road travel risks

New link set to reduce road travel risks

A new road linking Dodoma and Babati in Tanzania has been commissioned – the final link in a Cape Town to Cairo Trans-Africa Highway. With the completion of the road, traders and travellers now conduct immigration procedures on only one side of the border, reducing time and costs. Thanks to these efforts, the volume of trade between Tanzania and the…

Ugandan companies face high business risks

Ugandan companies face high business risks

Ugandan companies face high business risks

Nearly half of Ugandan companies face challenges with non-tariff measures (NTMs), according to an International Trade Centre (ITC) business survey. NTMs often create procedural obstacles such as delays, insufficient facilities and administrative hurdles, either in destination markets or in Uganda itself. The survey found certification, labelling, packaging and rules of origin were the biggest challenges. It also showed 46% of respondents struggled with regulations imposed…

New chair for ATI

New chair for ATI

New chair for ATI

Dr Yohannes Ayalew Birru has been elected as the new chairman of African Trade Insurance (ATI), replacing previous incumbent Israel Kamuzora. Dr Birru serves as vice-governor and chief economist of Ethiopia’s central bank (National Bank of Ethiopia). He is also an alternate governor of the International Monetary Fund and alternate steering committee member of East AFRITAC. Ms Michal Ron, managing…

Germans open Dar office

Germans open Dar office

Germans open Dar office

The Association of German Chambers of Commerce and Industry has opened an office in Dar es Salaam to promote trade links between Germany and Tanzania. Under the name AHK Services Eastern Africa, the office will be a focal point for German companies looking for business opportunities in Tanzania and vice versa. The office will be headed by Dr Jennifer Schwarz…

Climate risks threatening Somali agriculture

Climate risks threatening Somali agriculture

Climate risks threatening Somali agriculture

Somalia’s livestock and crop subsectors have been buffeted by a series of climate shocks, threatening the sector’s sustainability, according to the World Bank. The World Bank and the Food and Agriculture Organization (FAO) have released a report, Rebuilding Resilient and Sustainable Agriculture in Somalia, outlining the challenges and opportunities for Somalia’s agriculture sector. According to the report, for the past three…

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