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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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- Foreign investment in Kenya has increased with 290 BN KES (2.9 BN USD) worth of investment in 2019 along with 54 projects. Kenya achieved growth rate of around 6% with a fully liberalized economy, free flow of trade, foreign private investment and ease of transferring money outside Kenya.
- Kenyan tea export to Ireland has grown in recent months as a result of direct purchases, in the wake of the looming Brexit and uncertainties at the border point with the European Union (EU).
- Central Bank of Kenya (CBK) data reported that small banks controlled 21.15% of the number of Kenyans with more than 100,000 KES (982.8 USD) as savings in 2018, up from 34.73% in 2016 when three lenders were placed under receivership.
- The National Bureau of Statistics (NBS) stated that the annual headline inflation rates for Tanzania, Kenya and Uganda increased reaching 3.6%, 4.95% and 2.5% in October 2019 compared to 3.4%, 3.8% and 1.9% in September 2019, in order respectively.
- The Zimbabwe Miners Federation (ZMF) has signed a Memorandum of Understanding (MoU) with the Small-Scale Miners Association of Zambia (SSMAZ), which will see the two countries sharing experiences on the small-scale mining sector.
- Zambia cabinet has approved a revised national energy policy which will guide the development and management of the energy sector. The government decided to revise the 2008 policy with a view to comprehensively address the challenges currently being experienced in the energy sector.
- Economics Association of Zambia president Dr Lubinda Habazoka has called on South Africa businesses operating in Zambia to increase the use of local banking services.
- The United States ofAmerica Treasury has expressed readiness to support Zambia in the pursuit of a program with the International Monetary Fund (IMF).
- There is a progress in promoting Made in Rwanda products. In a bid to enhance e-Commerce, Rwandan products are available on Alibaba platform. Producers should strive to participate in international fair to expand the market for the products such as chili, tea, coffee and handicrafts.
- Rwanda is targeting investors who are present in the UAE market and are seeking to diversify to Africa as well as those who invest through Dubai owing to its investment infrastructure.
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- The African Union's Peace and Security Commissioner Smail Chergui has told South Sudan government and the main opposition group that they have a "last chance" to form a national unity government following months of prevarication in settling their outstanding differences and as the US warns of punitive steps against both sides.
- The UN and other Somalia partners stated that the recent decision by Kenya and Somalia to normalize their relations will help the region to concentrate on security challenges in Africa.
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Major Companies Transactions
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- Fintech start-up Zazu has teamed up with Mastercard to issue contactless debit cards linked to its mobile wallet to cut cash usage and promote financial inclusion in Zambia. Zazu enables users with or without a bank account to receive, send, pay and save money in digital format.
- I&M Bank has joined the class of large banks after its market share grew by 0.54% points, driven by new business from its acquisition of Giro Bank concluded in 2017. Its market share grew to 5.32% to rank 9th and surpass the 5% mark used by the Central Bank of Kenya (CBK) to classify banks as large industry players.
- KCB Group after-tax earnings for the first nine months to September grew 6.2% to 19.2 BN KES (188.23 MM USD) supported by increased interest and non-interest income. The performance was driven by cost management, helping the bank stay ahead of its closest rival Equity.
- Zambia Industrial Commercial Bank Limited (ZICB) has announced a partnership with global payments technology company Mastercard to issue Mastercard prepaid and debit business cards, providing its business customers with a safer and more convenient alternative to transacting with cash.
- Venture-backed technology firm Koko Networks has started selling bio-ethanol cooking solutions to high and low-end food outlets via its partnership with a companies-supported employee-feeding platform M-Kula.
- South African Airways will resume flights to Nigeria, Ghana, Zambia, Mozambique, Namibia and Zimbabwe after the shutdown of its operations due to industrial dispute with its workers.
- IFC, a member of the World Bank Group, is helping Uganda develop deep and efficient capital markets to create long-term, local-currency financing to support infrastructure projects, business growth, and job creation in the country.
- The International Fairs and Promotions (IFP) Group, one of the largest organizers of trade exhibitions in the Middle East, has announced its interest in entering Rwanda by organizing its first international trade exhibition for construction materials and equipment.
- France Bourbon Marine & Logistics has been awarded a contract by Total E&P Namibia to support a deep offshore exploration campaign in South Namibia in 2020.
- NamPost and KfW Development Bank signed an agreement for a concessional loan of 325.02 MM NAD (20 MM EUR) to provide micro-loans to micro-, small- and medium sized companies and households in rural and remote areas via NamPost subsidiary PostFin.
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Dubai Office:
Office No. N 307, 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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Copyright © 2019. All Rights Reserved.
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