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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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- Nairobi, Nakuru and Kiambu are Kenya top-three richest counties while Lamu, Samburu and Isiolo are the poorest, according to a new report ranking the contribution of Kenya 47 regions to the Gross Domestic Product (GDP).
- Kenya average loan grace period has dropped from 10 years to 4 years, exposing the country to a vicious debt cycle. Kenya total debt has been growing at a faster rate in the past six years, moving from 1.63 TR KES (15.9 BN USD) in June 2012 to current 5.1 TR KES (14.9 BN USD).
- Kenya Valley Development Authority (KVDA) announced the construction of two mega dams in Elgeyo Marakwet County worth 63 BN KES (628.6 MM USD) after more than 900 displaced families agreed to be compensated on a land-for-land basis.
- President of Korea Advanced Institute of Science and Technology (KAIST) will establish a graduate-only technology university in Kenya to face the large shortage of engineers in the fields of electrical, mechanical, civil and agricultural scopes.
- In Ethiopia, coffee production in 2018/2019 is expected to remain largely unchanged compared to 2017/2018 at 7.1 million 60-kilogram bags (426,000 tons) while exports are expected to remain at a record 3.98 million bags (239,000 tons).
- According to the International Monetary Fund (IMF), Uganda economy is expected to grow 6.3% in 2018/2019, slightly higher than 2018 rate, due to the enhancement in manufacturing and construction sectors.
- The IMF announced that the ratio of Uganda public debt to GDP is expected to reach 49.5% by 2021/2022 due to the continued large fiscal expenditure by the Ugandan government.
- Tanzania and Uganda oil and pipeline projects will top 2019 infrastructure transactions in East Africa, with the two countries seeking over 7 BN USD funding for the projects.
- In Zimbabwe, the month on month inflation rate in January 2019 was 10,75% gaining 1,72 percentage points compared to 9,03% in December 2018.
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- The Capital Markets Authority (CMA) is investigating several banks and bond dealers to engage illegal insider trading transactions. Insider trading is when information that is not in the public domain is shared between a small group and then used to make investment decisions such as trading in shares for profit or avoiding losses through dumping of stock.
- Disagreements over land and resources between the 80 different ethnic groups in Ethiopia have often led to violence and mass displacement, but a fast and unprecedented shift of power led by reformist Prime Minister Abiy Ahmed is causing new strains.
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Major Companies Transactions
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- Kenya largest mine, Base Titanium has signed a Memorandum of Understanding (MoU) with Invest in Africa (IIA), an organization that connects multinationals to Small and Medium Enterprises (SMEs) in a deal that will see the miner increase tender opportunities for suppliers in Kwale County.
- Kenya Electricity Transmission Company (Ketraco) has proposed to build power supply lines to Dongo Kundu Special Economic Zone (SEZ) which worth 30 BN KES (299.7 MM USD) in Mombasa.
- The United States Agency for International Development's (USAid) Kenya Youth Employment and Skills (K-YES) will collaborate with Coca-Cola Company through its local bottling partner Almasi Beverages in an initiative named Kuza Kazi to address the high rate of unemployment in the county.
- In Nairobi, Dubai-based GEMS Cambridge Education closed its Karen campus which costed 1.5 BN KES (14.9 MM USD) and move all learners to the newly-acquired Hillcrest International Schools which was built at a reported cost of 3 BN KES (29.9 MM USD).
- The Dutch Development Bank (FMO) and the Worldwide Fund for Nature (WWF), the world's largest independent conservation organization, agreed on funding the development of potential wastewater treatment projects in the Irrawaddy and Kafue river basins in Myanmar and Zambia.
- The FUCHS Group, which operates globally in the lubricants industry, is strengthening its presence in Tanzania and is establishing a new company. This will ensure direct access for its customers and distributors to the highest quality of lubricants and services.
- Volkswagen has signed a Memorandum of Understanding (MoU) with the government of Ethiopia to collaborate and deliver a joint vision for the development of an automotive industry in the country.
- Ethiopia Ministry of Mines and Petroleum (MoMP) announced the construction of 767-km Ethiopia-Djibouti natural gas pipeline partnering with Xinhua, Chinese firm Poly-GCL Petroleum Group Holdings Limited (Poly-GCL).
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Dubai Office:
Office No. N 415, North Tower, Emirates Financial Towers, DIFC, P.O Box 506726, Dubai, UAE.
Tel:
+97142820301
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Cairo Office:
Z
epter Office Building
S5-6 ,
Area 5, District 1, 5th Settlement,
New Cairo, Egypt.
P.O. Box:
1147
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Kenya Office:
Block C, Ground Floor, Fortis Office Park Muthangari Dr Westlands, Nairobi, Kenya
Tel: +254 20 5148174
P.O. Box: 66488-00800
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