Market News| Africa Business News

Kenya Industrialization ministry to roll out special trade zones in 2016

Kenya plans to roll out Special Economic Zones (SEZs) which will enjoy lower taxes to boost the country’s investment profile. The designated trading zones will be established in the first quarter of 2016, the Industrialisation ministry has said. They are expected to help investors cut down on key cost drivers such as transport, with the hope that surplus funds would go towards value addition. The focus of the new policy on SEZs is.... Read more »

Posted on : Wednesday , 21st October 2015

Kenya lays foundation for strong growth in a challenging Industrial environment

Kenya’s economy is expected to grow at 5.4 percent in 2015, recording an improvement over the 2014 growth rate of 5.3 percent, says a new World Bank Group economic report released today. The growth rate in 2016 is projected to be 5.7 percent. The Kenya Economic Update (KEU) attributes the growth to government investment in infrastructure and strong consumer demand. “Kenya has the potential to become one of the.... Read more »

Posted on : Wednesday , 21st October 2015

EAC-US Trade Investments Strengthened

Ministers from the East African Community (EAC) have signed a Cooperation Agreement on Trade Facilitation, Sanitary and Phytosanitary (SPS) Measures, and Technical Barriers to Trade (TBT) with the U.S. Trade Representative, Ambassador Michael Froman on 26 February, 2015 in Washington, D.C. The Cooperation Agreement will increase trade-related capacity in the East African region, as well as deepen the economic ties between the EAC.... Read more »

Posted on : Wednesday , 21st October 2015

East Africa Trade and Investment Hub

Growth in the five East African Community Partner States—Burundi, Kenya, Rwanda, Tanzania, and Uganda—has been robust but uneven, with millions of people left behind in poverty. Women, youth, smallholder farmers, and the poor are not fully represented in policy making or implementation nor integrated into the wider economic community. The East Africa Trade and Investment Hub is the U.S. Government’s flagship project.... Read more »

Posted on : Wednesday , 21st October 2015

German Investors in Three Day Visit, Explore Zim Opportunities

A GERMAN business delegation led by the head of the German African Business Association, Christoph Kannengiesser, is visiting Zimbabwe on a three day mission beginning Monday October 19, 2015. According to a statement released by the Germany embassy in Harare, the program of the visit comprises meetings with government representatives, a business roundtable and a workshop focusing on doing business in Zimbabwe. The German.... Read more »

Posted on : Tuesday , 20th October 2015

Encouragement to French Investment in Africa

President Muhammadu Buhari in Paris assured French investors of his administration's commitment to provide a suitable business environment that would boost economic activities and create jobs for the youth. News Agency of Nigeria (NAN) reports that Buhari gave the assurance at a gathering of investors at the France-Nigeria Business Forum held at the headquarters of the French Business Confederation in.... Read more »

Posted on : Tuesday , 20th October 2015

Turning Kenya into the investment hub of Africa

By challenging investors to look beyond the country’s borders, Kenya’s Ambassador to the Democratic Republic of Congo, Dr George Masafu, set an example that other envoys could follow for the benefit of the people who are paying their salaries and allowances that allow them to live like royalty. Dr Masafu also challenged Kenyan teachers and lecturers to go beyond demonstrating in the streets for higher pay and consider studying.... Read more »

Posted on : Tuesday , 20th October 2015

UK to Support Africa's Developmental Programmes With N65 Billion

The British government has pledged to support Nigeria's effort towards ensuring stability and development with a commitment worth N65 billion. The country's minister for Africa, Grant Shapps, said on arrival in Abuja on his maiden visit to Nigeria that the two countries would work together to increase the nation's prosperity in the areas of trade and security. He said the UK government would provide a comprehensive.... Read more »

Posted on : Friday , 16th October 2015

Ethiopia, Austria to Strengthen Trade and Investment Relations

International Affairs Director General with Austrian Foreign Affairs Ministry Alexander Marschik said that Austria wants to strengthen bilateral relations with Ethiopia especially in the area of trade, investment and security. The Director General so stated during talks with Ethiopia Foreign Affairs State Minister Ambassador Berhane Gebre-Kristos here yesterday. Alexander Marschik said that he has discussed with the State.... Read more »

Posted on : Friday , 16th October 2015

Uganda 'Most Improved' in Trade, Investment-Friendly Environment

Uganda is the most improved economy in the East African region in terms of creating a conducive environment for trade and investment, according to the latest Global Competitiveness ranking. Uganda, which ranked 115 (from 122 last year) of the 144 economies surveyed globally, was followed by Rwanda, whose economy improved from position 62 last year to 58, while Tanzania moved one position to rank 120 globally. Although Burundi.... Read more »

Posted on : Thursday , 15th October 2015

Greater Opportunity to Invest in Projects in Africa

There are still opportunities for Public Private Partnerships (PPPs) in the country, says Mr Andre Kruger, the Public Private Partnership financing specialist of Barclays Africa. He said government had created a conducive environment by adopting the PPPs policy in 2009. Mr Kruger was speaking at a Barclays Bank PPPs workshop at Cresta Marang Hotel recently. He said PPPs would help ease pressure on the national.... Read more »

Posted on : Thursday , 15th October 2015

Norwegians in Talks With East African Counterparts in regards to investment expansion initiatives.

Nairobi — Kenyan and Norwegian investors had discussions on a wide range of potential fields for joint trade and investment engagements recently writes KENNEDY ABWAO. The Norwegian firms were asked to consider increasing their presence in the region to capitalize on a new market of 600 million people. Norwegian Minister for Trade and Industry Monica Maeland said to bolster the trade ties between her country and.... Read more »

Posted on : Wednesday , 14th October 2015