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…

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…

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