Business

Untapped investment opportunities in Africa

When thinking about investing in Africa, many investors identify South Africa as the most important market on the continent. However, we believe other countries in the region also offer much untapped long-term potential. Among frontier markets globally, Africa offers one of the most exciting...

Monday, July 9, 2018 - 9:36pm

Carlos Lopes to lead African Union-EU trade talks

The African Union has appointed Carlos Lopes, a member of President Paul Kagame’s dream team in reforming the continental body and former Executive Secretary of the United Nations Economic Commission for Africa, as the high representative for the post-2020 negotiations with the European Union...

Monday, July 9, 2018 - 11:59am

Ethiopia mulls attracting FDI

Ethiopia must work harder to attract foreign investment and boost international trade, Prime Minister Abiy Ahmed said on Friday as he pushes a fundamental overhaul of how the nation is run. With frankness that has become characteristic since he took office in April, Abiy told a parliamentary...

Sunday, July 8, 2018 - 11:00pm

Kenya plans Sub-Saharan Africa’s first cable car

Preliminary work has begun on a Kenyan plan to build a $60m cable-car system across the entrance to the port of Mombasa, providing relief to a stretched ferry service. If built, it will carry commuters from one side to the other of the 500m-wide Likoni Channel in less than three minutes. The...

Friday, July 6, 2018 - 8:01pm

US-China tariffs take effect in deepening trade row

US tariffs on $34 billion in Chinese imports took effect as a deadline passed on Friday, and with Beijing having vowed to respond immediately in kind, the world’s two biggest economies took a high-stakes turn toward all-out trade conflict. China’s commerce ministry said in a statement...

Friday, July 6, 2018 - 8:00pm

MTN Rwanda opens Mobile Money Remittance corridor to Tanzania

Users of MTN Rwanda will now be able to send money to Tanzania via Mobile Money as the telco has opened the mobile-to-mobile remittance service between Rwanda and Tanzania. MTN Mobile Money users in Rwanda are now able to send money to Airtel Tanzania subscribers seamlessly and affordably through...

Friday, July 6, 2018 - 3:02pm

President Macron roots for innovation as he meets 2000 African entrepreneurs

French President Emmanuel Macron on Wednesday met over 2,000 African entrepreneurs at the invitation of Nigerian philanthropist and businessman, Tony Elumelu. The entrepreneurs, who are the alumni of Tony Elumelu Foundation Entrepreneurship Programme, met the two leading political and...

Thursday, July 5, 2018 - 9:31pm

Coffee exports to hit 24,500 tons this year

At the end of 2018, Rwanda expects to export 24,500 tons of coffee, up from the 23,000 tons last year. This was revealed on July 2, by Celestin Gatarayiha, head of coffee division at the National Agricultural Export Development Board (NAEB). According to Gatarayiha, the increase in coffee...

Thursday, July 5, 2018 - 9:19pm

Fuel prices further revised upwards

Rwanda Utilities Regulatory Authority (RURA) has announced new fuel tariffs which took effect on Thursday, this week. The tariff indicate an upward revision of the pump prices. According to a statement signed by RURA Director General Patrick Nyirishema, pump prices in Kigali for petrol have...

Thursday, July 5, 2018 - 9:04pm

10 things to know about the revamped Northern Corridor Integration Projects initiative

Last week, Nairobi was host to the 14th Northern Corridor Integration Projects (NCIP) Summit. This was the first time the Heads of State from Kenya, Uganda and Rwanda were meeting under the NCIP. The renewed interest in the projects is a sign the countries involved may well resume the earlier...

Thursday, July 5, 2018 - 10:54am

Falling EAC trade worries regional business council

Business leaders in East Africa have voiced their concern about declining intra-regional trade, with some saying it does not augur well for the integration agenda. The newly appointed East African Business Council (EABC) chairman, Nicholas Nesbitt, said trade among East African Community (EAC)...

Thursday, July 5, 2018 - 12:42am

10 African nations face $1 trillion infrastructure funding gap

A group of 10 African nations, including some of the continent’s rising economic stars, will fall $1 trillion short of the infrastructure financing required to meet U.N. development goals by 2040, a study released on Tuesday found. The report by the Global Infrastructure Hub (GIH) of the G20...

Thursday, July 5, 2018 - 12:38am

‘Social media tax’ comes into effect in Uganda

A tax on the use of social media in Uganda has come into effect with many users complaining that it is costly and will also limit their freedoms. Telecommunication companies on July 1 started enforcing the excise duty charge on Over-The-Top services dubbed ‘social media tax’.The tax...

Tuesday, July 3, 2018 - 9:53pm

East Africa lacks policies to deal with debt crisis, rating firm

Rating firm, Moody’s, has singled out weak policy, poor budget planning and its implementation as factors that have made it difficult for Kenya, Uganda and Tanzania address their ballooning debt portfolio. The agency report indicates that East Africa region is faced with a debt crisis that...

Tuesday, July 3, 2018 - 9:51pm

EAC women exporters to get improved EU market

East African Women in Business Platform (EAWiBP) have successfully negotiated an agreement with the International Trade Centre (ITC) to increase market access to the block’s products to Europe. That comes after a round-table discussion with Ms. Arancha Gonzalez, who is the Executive Director...

Tuesday, July 3, 2018 - 11:12am

FEATURED: Using Research Evidence To Inform Debate On Affordable Housing In Kigali

On April 26, 2018, the Institute of Policy Analysis and Research (IPAR)-Rwanda in collaboration with the Partnership for African Social and Governance Research (PASGR) based in Nairobi, Kenya, organised the second Utafiti Sera (Research-Policy) Stakeholders’ Forum on Urban Governance and City...

Tuesday, July 3, 2018 - 8:13am

Why brands with green agenda appeal to consumers

Global food and drink company Nestlé announced last month that it aims to make 100 per cent of its packaging recyclable or reusable by 2025 such that none of its packaging, including plastics, ends up in a landfill or as litter. The move could also increase its sales as research shows that over 50...

Tuesday, July 3, 2018 - 1:01am

African borrowing gets smarter

Akinwumi Adesina, President of the African Development Bank (AfDB), recently revealed that Africa’s annual infrastructure gap now stands at as much as $170bn. For many, this is shocking. Only last year the bank projected a figure of $90bn – almost half. As Africa’s population...

Tuesday, July 3, 2018 - 12:39am

Somalia, Ethiopia to jointly invest in four seaports on the Red Sea

Somalia and Ethiopia announced they were jointly investing in four seaports to attract foreign investment to their two countries, the latest move in a tussle for access to ports along one of the world’s most strategic waterways. After Somalia’s president Mohamed Abdullahi Farmaajo...

Monday, July 2, 2018 - 12:30am

COMESA extends SG’s mandate

The Common Market for Eastern and Southern Africa (COMESA) Bureau of the Authority of Heads of State and Government has extended the contract of the Secretary General Sindiso Ngwenya, until his successor assumes duty. This is according to a letter signed by the current Chair of the Authority,...

Monday, July 2, 2018 - 12:19am