Market News| Africa Business News

Kenya Improves in World Bank's Investment Destination List

Kenya's ranking as an investment destination has improved, largely due to the introduction of Huduma Centres and a campaign to increase electricity connections. Huduma Centres are one-stop shops where a wide array of government services are offered. The World Bank's Ease of Doing Business Index 2016 released Wednesday ranked Kenya as the third most improved nation in business regulatory reforms among 189.... Read more »

Posted on : Monday , 2nd November 2015

East Africa Improves in Investment Destination Ranking

Uganda's move to allow online registration of businesses, make faster electricity connections and expand access to credit information, have improved the country as an investment destination. This is according to the World Bank Doing Business Report 2016, released on Wednesday. Uganda jumped 13 places from 132 to 122 out of 189 economies surveyed in the last 12 months. In the sub-Saharan Africa (SAA) region, the report.... Read more »

Posted on : Saturday , 31st October 2015

Improving Competitiveness of Manufacturing in Kenya

World Bank reports released today underline the way to improving the competitiveness of key manufacturing sectors in Kenya. Analysis shows that the performance of the timber-furniture, textile-apparel, and leather and leather products value chains in Kenya are important for employment and growth in the country. The reports provide an updated and comprehensive analysis of competitiveness for these manufacturing sectors in Kenya..... Read more »

Posted on : Thursday , 29th October 2015

African Business in the World-Class Space

Africa is a continent on the move. This Fall Frontier 100 Forum celebrates the dynamism and growing importance of African business — not only on the continent — but also in the global sphere. The rising influence of homegrown African businesses in the global economy reflects the changing realities on the ground. In 2014, Africa accounted for 9 of the world’s 15 fastest-growing economies. Some 26 of Africa’s 54.... Read more »

Posted on : Wednesday , 28th October 2015

Africa: Harnessing Foreign Direct Investment

Dubbed the new investment frontier, Africa’s attractiveness is becoming more visible to large corporations, institutions and investors. Reflecting this, foreign investment (FDI) flows have grown exponentially since the turn of the millennium. Countries such as South Africa, Nigeria, Kenya, Egypt and Morocco are leading the way. High growth economies such as Zambia, Ghana, Tanzania and Mozambique are also becoming.... Read more »

Posted on : Wednesday , 28th October 2015

U.S. Supports Trade and Investment in East Africa

U.S. Ambassador to Ethiopia Patricia M. Haslach joined President Mulatu Teshome at the Origin Africa presents: Africa Sourcing and Fashion Week trade expo to promote East African countries as sourcing and investment destinations for international buyers of apparel, textile, leather, and home decor. The United States Agency for International Development (USAID)-supported trade expo is a prime opportunity to raise the profile of East.... Read more »

Posted on : Monday , 26th October 2015

East Africa: Banks to increase credit towards development of manufacturing sector

According to the Bank of Tanzania (BoT) monthly economic review, strong credit was extended to manufacturing, hotels and restaurants and transport and communication activities. During the month under review, credit extended to agriculture increased to 12.9 per cent compared to 6.0 per cent in July and 2.0 per cent in the corresponding period year before. Similarly the annual growth of bank's credit to the manufacturing.... Read more »

Posted on : Monday , 26th October 2015

Uganda: NSSF Reveals Plan to Invest in Infrastructure, Awards Firms

Kampala — National Social Security Fund (NSSF) will invest in public infrastructure and small and medium enterprises, managing director Richard Byarugaba has revealed. Speaking at the annual members meeting in Kampala yesterday, Mr Byarugaba told members that the development is included in a 10-year strategic plan to diversify the savings in the fund. Currently at Shs5.8 trillion worth of investments, the fund wants to.... Read more »

Posted on : Friday , 23rd October 2015

Dar-Kenya trade scales East Africa high

Addressing the Kenya’s National Assembly in the capital, Nairobi, President Kikwete said the growth in trade between the two countries demonstrated how much the two countries’ contribution is critical to the greater EAC integration agenda. “I am told trade between our two countries accounts for over 80 to 90 per cent of trade in the EAC market. This demonstrates in no uncertain terms how much our two countries.... Read more »

Posted on : Thursday , 22nd October 2015

Kenya is Tanzania�s leading trade partner

Kenya is Tanzania’s leading trade partner in East Africa. This is according to Tanzanian President Jakaya Mrisho Kikwete. During his address to the joint Parliamentary sitting of the National Assembly and the Senate on Tuesday, Kikwete said figures put trade between East African countries at 80 to 90 per cent, with Kenyan investments hitting USD 1.6 billion in 518 projects. Also Read: President Uhuru Kenyatta mourns.... Read more »

Posted on : Thursday , 22nd October 2015

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