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This is an exclusive new report designed to give you an overview about Africa countries tackling Economic, Political, Stock Market and Company transactions issue.
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- The Central Bank of Kenya increased the interbank rate from an eight-year low of 1.7% on Friday 11th of January 2019 to 3.08% on Wednesday 16th of January 2019, trades. This move indicates that the liquidity has decreased in the money market after rising in the first two weeks of January due to government debt maturities and school fee payments.
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In Kenya, the Ministry of Tourism is investing millions of shillings to establish waterfronts in Mombasa, Kilifi, Nakuru and Kisumu counties in order to attract more tourists in 2019/2020.
- In Uganda, the reconstruction of the strategic Tororo-Kamdini highway, which is expected to boost trade between Uganda, Kenya and South Sudan, is expected to begin in February 2019. The road project covers 340 kilometers and is funded by the World Bank at 138 MM EUR (582.4 BN UGX).
- Ethiopia and Saudi Arabia agreed to boost bilateral economic and investment ties. The agreement between the two countries focused on economic partnership in agriculture, infrastructure development, energy, manufacturing industries and trade.
- The World Bank has approved a credit facility of about 26.5 MM USD to help Zambia boost its electricity supply especially in rural parts of the country.
- Tanzania has injected 7 BN TZS (3.03 MM USD) for distribution of insecticides and revival of ginneries to boost cotton production. The 2018/2019 cotton production is likely to double to 440,000 tons from the last season.
- Heritage Bank Limited, Nigeria most innovative banking service provider, has partnered Vanguard Media to organize the 2019 edition of its economic discourse in order to achieve inclusive economic development in the country.
- The National Insurance Commission (NAICOM) and Central Bank of Nigeria (CBN) have authorized the Nigerian Insurers Association (NIA) to digitize marine insurance certificate. This move is aimed at generating more income for the industry and contributing to the nation's GDP.
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- The Zimbabwean government announced its intention to open an embassy in Astana, kazakhstan to facilitate the business movements and transactions between the two countries as Zimbabwe opens a new frontier of economic diplomacy in Eurasia.
- In Uganda, the Government is carrying out vaccinations of adults infected with Chronic Hepatitis B (CHB) majorly in the North and North Eastern regions, as efforts are made to extend the treatment to other regions of the country.
- Currently, there is an increasing political tension between Rwanda and Burundi, which started in 2015 when political unease in Bujumbura saw its citizens cross over to Kigali, has disrupted cross-border trade between the two countries leaving traders counting their losses.
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Major Companies Transactions
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- Kenya Bankers Association (KBA) reported that the top three rated banks were Equity bank, followed by Diamond Trust Bank (DTB) and Standard Chartered according to customer experience, the institutions' responsiveness and best digital experience.
- Australian multinational Base Titanium Company is claiming 2.4 BN KES (23.6 MM USD) in value added tax (VAT) refunds from the Kenyan government, an amount that has been accumulated since the mining company started its operations in Kenya.
- Kenyan investors can buy precious metals such as gold, silver and copper on the international markets through Standard Investment Bank (SIB) after the Capital Markets Authority (CMA) granted the firm a license to trade in currencies and commodities.
- Centum Investmentscapital-raising advisory firm Barium Capital has helped San Francisco-based mobile loans company, Branch International, to raise 500 MM KES (4.91 MM USD) for local on-lending.
- Alibaba has partnered with the government of Rwanda to complete the first New Economy Workshop held at Alibaba Group's headquarters in Hangzhou. It aims to drive economic growth by accelerating digital finance, logistics, e-commerce and big data industries.
- Tanzania has revoked ownership of six farms with approximately 12,915.126 hectares owned by Mohamed Enterprises Tanzania Ltd (MeTL), whose majority shares are held by Mohamed Dewji.
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epter Office Building
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Tel: +254 20 5148174
P.O. Box: 66488-00800
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