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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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- Kenya is the 3rd most preferred startup investment destination in Africa in 2018, attracting a total of 73 deals after South Africa and Nigeria which saw 107 and 136 agreements signed respectively.
- The World Bank Global Economic Prospects 2019 latest report showed that economic activity is expected to remain robust in Sub-Saharan nations that are not dependent on resources, including Kenya, Tanzania and Cote d'Ivoire.
- The Chinese government move to cut taxes will further open the floodgates for cheap imports into Kenya which is a disappointment to local manufacturers.
- In Kenya, governors from 14 counties under the Lake Region Economic Bloc (LREB) will collaborate with the national government to improve key shared infrastructure for the benefit of 15 million residents.
- The Minister of Finance, Matia Kasaija, reported that Uganda public debt levels are below the international sustainability threshold which is below 50% of GDP and significantly below the sub-Saharan average of 45.4% of GDP in 2017/2018. However, the Civil Society Budget Advocacy Group (CSBAG) concludes that national debt levels are a matter of concern despite the positive economic growth trajectory in 2019/2020.
- Tanzania began the construction of a Standard Gauge Railway (SGR) to link Tanzania to Uganda and Rwanda. Moreover, to link Tanzania to Burundi and the Democratic Republic of Congo (DRC) to ease the transfer of goods from Dar es Salaam port toKigali and subsequently to Burundi and DRC.
- South Africa rand fell in early trade after a shock contraction in Chinese exports pointed to deepening cracks in the world's second-biggest economy, raising fears of a sharper slowdown in global growth.
- The African National Congress (ANC) has a plan to raise 1.2 TR ZAR (86.4 BN USD) in South Africa new investments over the next five years. ANC will work with all social partners to restore investor, business, consumer confidence and ensure policy consistency and certainty.
- South Africa showed that the growth rate of electricity distribution or consumption doubled to 1% y-o-y in the first 11 months of 2018 compared to 0.5% in 2017.
- The government of Uganda is focusing on specific key sectors like energy, transport and communication, among others in 2019 in order to attain lower middle-income status with an annual per capita income of 1,033 USD.
- In Namibia, the petrol price decreased by 1 Namibian dollar while diesel decreased 40 cents in December 2018.Also the petrol price in January 2019 declined 90 cents, and diesel declined by 1 Namibian Dollar.
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- Zimbabweans rebelled against the sharp rise in fuel prices announced by President Emmerson Mnangagwa in a move to improve supplies as the country struggles with its worst gasoline shortages in a decade.
- A study carried out by American-based Pew Research Center showed that 73% of Kenyans believe that sensitive national security information will be leaked from cyber attacks, while 72% reported that such attacks are a method for election interference.
- Almost 1,800 Zambian villagers claim that water sources have been contaminated by copper mining, causing health problems and harming their crops. Zambian villagers are trying to take Vedanta and its Zambian subsidiary, Konkola Copper Mines, to the UK Supreme Court over allegations relating to the pollution of a river there.
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Major Companies Transactions
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Barclays Bank of Kenya mobile loan service, Timiza, has pushed up the lender's loan applications to 10,000 per day due to the increase use of the platform totaling 3 million borrowers. This underlines the growing importance of digital loans in the economy as more lenders continue to strengthen their offering.
- Commercial Bank of Africa (CBA) has made a 1.4 BN KES (13.7 MM USD) cash offer to buy out Jamii Bora Bank, expanding the Kenyatta family's business empire which is consisted of banking, dairy, real estate, hospitality and manufacturing sectors.
- Kenya Railways Corporation (KRC) is seeking to change some of its land from residential to industrial or commercial category to diversify its sources of revenue. It intends to convert its strategic estates such as Shimanzi, Manyimbo, Msaada, Kisingo and Kileleshwa from residential to mixed use in line to achieve optimum use of land.
- In Kenya, Uber, has launched a new service designed to help riders with disabilities and the elderly to easily reach their destinations in Nairobi. According to the firm, UberASSIST is a specialized cab service which will help those with accessibility hassle to ride with the best-rated drivers.
- Kenya Real estate firm Optiven Group has opened an office in Kansas, US, to market its housing units. The move targets about 120,000 Kenyans living in the US known to be passionate property investors back home.
- In Tanzania, Armadale Capital, AIM listed investment company focused on natural resource projects in Africa has entered into final formal sale agreement with African Royalty Company Pty Limited (African Royalty) for the sale of the Mpokoto Gold Project in the Democratic Republic of Congo.
- The Tanzanian national carrier second Airbus A220-300 plane has landed. Air Tanzania becomes the first African airline to operate the Airbus A220-300 and the 5th airline globally with an A220 family aero-plane.
- Bharti Airtel, leading global telecommunications Indian company, has agreed to hand over part of its stake in wireless operator Airtel Tanzania to the local government, in order to settle a dispute in ownership. Bharti Airtel reduced its stake from 60% to 51% and increased the state ownership from 40% to 49%.
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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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