Kenya open for UK investment

Kenya open for UK investment

Kenya open for UK investment

Political risks should not be deterring UK investors from doing business in Kenya, according to Kenya’s President Uhuru Kenyatta, who has assured UK investors that Kenya is open for business and that the business environment is stable and conducive for investment. Mr Kenyatta said the country had withstood the immense burden of going through two presidential elections within two months in 2017.…

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…

SSA GPD set to grow more than 3% this year

SSA GPD set to grow more than 3% this year

SSA GPD set to grow more than 3% this year

Sub Saharan Africa’s (SSA) growth is projected to reach 3.1% in 2018, and to average 3.6% in 2019–2020, according to the World Bank. Its numbers are supported by a new global trends report from the International Monetary Fund (IMF). It estimates growth in Sub Saharan Africa to reach an average of 3.4% in 2019 and 3.7% in 2020. The IMF…

Mining companies failing in their corporate responsibilities, new index shows

Mining companies failing in their corporate responsibilities, new index shows

Mining companies failing in their corporate responsibilities, new index shows

The first Responsible Mining Index has revealed that some companies are failing in their corporate responsibilities. The 2018 index reveals the vast majority of the assessed mining companies show responsible policies or practices on several economic, environmental, social and governance (EESG) issues. However, a few companies show systematic failings across a range of key issues on which companies would be…

Another step towards African trade unity

Another step towards African trade unity

Another step towards African trade unity

The United Nations Economic Commission for Africa (ECA) has launched a campaign to have all countries of the ECCAS sub-regional bloc operationalise the ECCAS Preferential Tariff (TP/CEEAC) – one of the instruments for easing trade in the zone. The ECA said this is within the framework of the ECCAS Free Trade Area, which should lead to the full integration of…

Tinubu named as president of Nigeria-Britain Association

Tinubu named as president of Nigeria-Britain Association

Tinubu named as president of Nigeria-Britain Association

The Nigeria-Britain Association (N-BA) has elected Shola Tinubu as its 49th president, with Stephen Forbes becoming vice-president. According to the immediate former president, Femi Onabolu, the election of the new executives was to sustain the tempo of progress made by the association in promoting relationships between Nigeria and the UK. Mr Onabolu stressed that the association had previously initiated and implemented…

Ports critical for growth in Africa

Ports critical for growth in Africa

Ports critical for growth in Africa

Sub Saharan Africa must invest more in its ports infrastructure if it is to successfully grow economies, according to a new report. PwC analysis shows that a 25% improvement in port performance could increase GDP by 2%, demonstrating the close relationship between port effectiveness and trade competitiveness. However, it warned that with growing congestion in many African ports, Africa runs…

World Bank supports boost for Central African Republic

World Bank supports boost for Central African Republic

World Bank supports boost for Central African Republic

The World Bank has approved a $25m International Development Association grant for the Central African Republic, to support its efforts to re-establish basic fiscal management and transparency and achieve economic recovery in the country. The Second State Consolidation Development Program is structured around two pillars: 1) Re-establishing basic fiscal management and transparency, which will help boost fiscal revenue, improve wage bill management,…

Aon’s 2018 maps show political violence and risk on the rise

Aon’s 2018 maps show political violence and risk on the rise

Aon’s 2018 maps show political violence and risk on the rise

Political violence risk has increased worldwide for the third year in a row, while broader political risk is also up, according to analysis by Aon. The broker’s newly released 2018 political risk, terrorism and political violence risk maps also suggest that the global threat posed by Islamic State (IS) has peaked, with its reach likely to fall in 2018. Political…

Kenya to boost private sector

Kenya to boost private sector

Kenya to boost private sector

Kenya’s GDP growth is projected to recover to 5.5% in 2018, up from an estimated 4.8% in 2017. According to the World Bank’s 17th Kenya Economic Update (KEU), in the medium term economic activity should gain momentum, steadily rising to 6.1% by 2020. The positive outlook is underpinned by recovering agricultural output (thanks to favourable rains), the easing of political uncertainty…

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