Eastern Africa Association
Eastern Africa Association
The Eastern Africa Association is a source of insightful and helpful publications, guides, and advice for all visitors to our website. Contributors include EAA analysts, our Members, and a wide range of experts and official commentators. As a key service for Members only, we produce a regular Newsletter which contains our analysis of developments in the region.
You can search for material using the filters below, or access the latest publications in the library further down the page.
The EAA produces a constant source of news, hold events and speaks to experts on the ground to help inform our members
Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreThe Eastern Africa Association, Nairobi will hold its last regional members meeting this year, 2024 on Wednesday 27th November 2024 at the Nairobi Serena Hotel, Amani Room: 07:30 – Registration, meet and greet 07:45 – Nikhil Hira, EAA Executive Director for East Africa – Host / Moderator 07:50 – Stewart Henderson, EAA-Kenya Chairman – Welcome
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At stake is the opportunity to free up funds, reduce the cost of capital and make investment go further in periods of uncertainty. PwC Working Capital Study 24/25
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Implications of the nullification of the Finance Act 2023 Eastern Africa Association (EAA)
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Declan Galvin is the Managing Director of Exigent Risk Advisory, a Nairobi-based strategic risk advisory firm dedicated to unlocking opportunities for clients across Africa’s emerging markets. He can be reached at Declan@exigent-risk.com or on LinkedIn at https://www.linkedin.com/in/declan-galvin/. This is a commentary and comments are welcome by email to info@eaa.co.ke
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The Gen Z uprising appears to have tapered off which has seen an uptick in business activity in Kenya during August. The new “broad based” Government is in place and it remains to be seen whether this will be effective. The economy has been largely stagnant because of the protests in June and July.
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Democratic cracks seem to be reappearing in Tanzania in the lead up to local elections next month and a general election next year. The economy is performing well and inflationary pressures seem to have been overcome.
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Succession for President Museveni appears to have been thrown in the air with the announcement by his son that he will not stand for the Presidency in the next election. It seems clear that President Museveni will vie for a seventh term. The economy is performing well with future growth expected at 7%; inflation and the currency remain stable.
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The Marburg virus has raised concern in Rwanda but with the same type of efficiency that was used during Covid-19, the Government appears to be in control of the situation and it is believed that the issue will be over in the extreme short-term. Rwanda is back to the top of the pack in the World Bank’s replacement for Doing Business with “Business-Ready”, a testament to the country’s bid to make it an attractive investment destination. The economy is performing well and is expected to continue doing so.
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Ethiopia’s current political and economic landscape is fraught with challenges. However, proactive engagement with international partners and strategic domestic reforms, presents opportunities for recovery and stability. As the nation strives to stabilise its economy and manage public discontent, the collaboration with the regional and international actors such as the IMF provides an important lifeline.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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How AI is unlocking value for farmers in Kenya-September 2024
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Eastern Africa Association September 2024 – Presentation by Rishit Shah – PwC TZ
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This is a commentary and comments are welcome by email to info@eaa.co.ke
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The Gen Z uprising appears to have tapered off which has seen an uptick in business activity in Kenya during August. The new “broad based” Government is in place and it remains to be seen whether this will be effective. The economy has been largely stagnant because of the protests in June and July.
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It appears that President Hassan is moving back towards the excesses of the Late President Magufuli’s regime by cracking down on the Opposition and blocking social media. Economically the country continues to do well.
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The Ugandan Opposition is again seeing oppression from the security forces in the country which does not bode well in the lead up to the 2026 elections. The economy is steady with signs that it will grow.
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With the elections over and President Paul Kagame sworn in for his fourth term, Rwanda remains politically stable. Economically the country is headed towards double digit growth again. Inflation is largely under control and the currency, while still depreciating is doing so at a lower rate.
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Positive economic reforms, particularly the flotation of the Birr, continue to increase Ethiopia’s attractiveness as an investment destination, all while, concerns remain about the speed of implementation of these changes. The security situation in various parts of the country remain tense and new splits in the Tigray region threaten a return of instability there.
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Latest developments in Somalia, Burundi, South Sudan and Djibouti
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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SAVE THE DATE – 9TH OCTOBER 2024 : Hedging on Africa’s competitiveness to mobilise global capital to scale trade & investment flows.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreJoin us for a virtual breakfast meeting on 26th September 8.30AM to 9.30AM covering latest developments in East Africa’s market landscapes. https://forms.office.com/e/GXF66SAdAF This session will cover Ethiopia’s ambitious economic reforms; the recent changes to the foreign currency market and the immediate impact this has on businesses and future investments in the country. We’ll also discuss the region’s
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreDate: 9th October 2024 Time: 3.30 PM to 7.30 PM (BST) In partnership with the Commonwealth Secretariat, Mauritius Economic Development Board (EDB) and AXYS Investment Partners, we are delighted to convene our autumn Annual lecture & networking Drinks to provide an update on Africa’s Markets – Looking at trade, Investments, Assets & Wealth Management trends
Learn MoreLondon – 7th June 2024. At the Eastern Africa Association (EAA), we believe that businesses that want to prosper on the African continent must be deliberate about cultivating meaningful partnerships with local communities, the private sector, and regulators. This approach was central to our recent gathering , ‘The African Baraza,’ when we had the privilege
Read MoreThe Eastern Africa Association celebrated its Diamond Jubilee on 29th May, delighted to be joined in London by so many Association Members, Board and specially invited Guests including Heads of Diplomatic Missions – testimony to the enduring attraction of the many dynamic markets of East Africa. We were privileged to be feted at the LSEG
Read MoreThe recent victory by the UK’s Labour Party provides a timely moment to reassess the party’s Foreign policy, particularly its relations with Africa. Conservative-led governments all but ignored the growing importance of Africans on the global stage over the past 14 years, and they consistently underestimated the contribution of African migrants to the UK’s economy.
Learn MoreEthiopia’s economic transformation Ethiopia is undergoing economic transformation following Prime Minister Abiy Ahmed’s announcement of a comprehensive macroeconomic overhaul on July 28th. This bold and eagerly awaited decision shifts Ethiopia to an interest rate-based monetary policy and a market-based foreign exchange rate. According to officials, the new policies aim to curb inflation and enhance banking
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Thursday 8th August promises to be an interesting day and one only hopes that the protests will be peaceful and that the security forces will not escalate matters with a heavy-handed approach. Of course, Gen Z, again, should be reminded that State House is a restricted area.
Read MorePresentations will incude: an overview on how Artificial Intelligence is unlocking value for commercial farmers in East Africa; a look on political risks in the region; an update on the latest tax developments in Tanzania, and, a high-level analysis of what is happening politically and economically in Kenya, Uganda, Tanzania, Rwanda, and Ethiopia
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It is difficult to predict what will happen going forward. Perhaps, there are only two certainties for now: 1. That the President will not resign, and, 2. Gen Z will not give up.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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An overview of the NHIF / SHIF and AHA conundrum – Presentation to the Eastern Africa Association
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Enhancing cyber resiliency for organizations to propel East Africa’s digital economy
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This is a commentary and comments are welcome by email to info@eaa.co.ke
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The short-term outlook for Kenya is bleak with continued protests, political uncertainty, and an economy that is clearly not performing to its potential. The downgrade of the country’s rating to negative will not help the situation. The fact that there is no functioning Cabinet, pending the vetting process being completed, at the moment adds to the woes in Kenya.
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The country will have local elections in October and Presidential and Parliamentary ones in 2025. While Opposition Parties have been given more freedom since President Hassan took over the mantle, there is still work to be done. The economy is performing well and capital investment, both local and foreign, is rising.
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No change on the political front. Uganda’s Gen Z took to the streets on 23rd July and were met by the full force of the police; President Museveni had warned against it. The economy seems to be on a growth trajectory.
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Rwanda’s general election, deemed by observers to be free, fair and credible, resulted in another landslide for President Paul Kagame. He will be in office for the next five years. The economy continues to grow at a fast pace making Rwanda’s economy one of the fastest growing in the world.
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The conflicts in Ethiopia are continuing with no obvious end in sight. A number of economic reforms are ongoing and the economy is growing despite challenges.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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TURNING BUSINESS PROCESS INTO BUSINESS PROGRESS
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Eastern Africa Business Association June 2024 – Overview of Tax – Finance Bill, 2024
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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The Association would like to thank the membership for their continued support, the diplomatic community and Government Ministries/Departments who give time to the Association’s Local Advisory Committee Members’ (EAA-LAC) periodically. We have survived 60 years because of you and highly appreciate this! Indeed, Dr Cullen comments: “The EAA continues to exist, suggesting that businesses perceive it to have been and remain useful”. Here’s to another 60 years!
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Politically things seem confused with rifts in both the Ruling Party and the Opposition. While Government is suggesting a thriving economy, the reality on the ground seem to be completely different. Significant proposed increases in taxes could add to a slowdown in Kenya’s economy.
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Local Government elections are due in October this year and a General Election in October 2025, but new political parties are not being registered which raises concerns over how democratic they will be. The economy is performing well but the shortage of US Dollars continues to be a major issue for business.
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No change in the political scene but a number of senior officials have been accused of corruption and sanctioned by both the UK and the US tarnishing the country’s image. Economically Uganda is performing well and has the lowest level of inflation in the region with a largely stable currency.
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The General Election will be held in July and the number of candidates standing for the various positions is quite high. The economy is growing and edging back towards double-digit growth.
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Anxieties are rising over an apparent proliferation of new inter-regional and communal conflicts across different parts of the country, as well as a deterioration of long-running ones. This is having a detrimental effect on Ethiopia’s fiscal stability, exacerbated by a growing debt problem. However, the economy is showing robust growth and a National Dialogue process aimed at achieving settlement of various conflicts is finally underway.
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Latest developments in Burundi, South Sudan and Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreEAA 60th Anniversary Cocktail Reception in Nairobi – 15th May 2024 at the Nairobi Serena Hotel
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The Affordable Housing Levy (AHL) was introduced by the Finance Act 2023. However, the AHL has been subject to legal contest at the High Court and Court of Appeal that challenged the constitutionality of the AHL Levy primarily on its lack of a comprehensive framework for the administration of the levy.
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KAM IMF Presentation on 8th April 2024 by Anthony Mwangi CEO
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This is a commentary and comments are welcome by email to info@eaa.co.ke
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Politically the landscape has not changed. On the economic front, while macroeconomic growth indicates high growth, consumer spending has declined with the current Government’s taxation policy.
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President Hassan has been in power for three years now and has successfully steered Tanzania on the right path. Structural reform is critical even though moving slowly. Elections are due in October 2025 and reforms in this sector are ongoing. Economic growth is impressive but the Government is slow in acting on projects. Dollar shortages and electricity issues persist.
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Succession planning seems to be high on President Museveni’s mind with the choice of his son meeting opposition. The economy is performing well and inflation is well under control.
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A general election will be held in July 2024 and preparation including voter education and agent training is underway. The economy continues to grow at a pace significantly higher than the average for Sub-Saharan Africa, although there are downside risks that could destabilise this.
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Concerns remain high about Ethiopia’s lingering internal conflicts, which threaten political stability and economic progress. Continued but slow progress continues on the economic front with the launch of the country’s securities exchange, and growth forecasts are down.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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The government plans to introduce several tax policy measures envisioned in the Rwanda Medium Term Revenue Strategy (MTRS) aiming at improving revenue administration and cutting tax rates while broadening the tax base.
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2024 remains to be an eventful year in the Kenyan and East African petroleum sector. As governments and regulators grapple with inflation, dollar liquidity and energy security concerns, manufactures and businesses need a reliable energy partner to offer clarity during uncertain times.
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In 2023, KRA introduced Etims, a cloud-based software, an upgrade of TIMS that makes it easy for VAT- registered businesses to connect their accounting system to KRA without the need to use ETR TIMS devices
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The United Nations Foundation points to 5 global issues that will shape 2024: crises occurring everywhere together; a plethora of elections; fixing the financial system and potential shifts in power; safeguarding rights and equity; and future-proofing the UN.
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The possible exit of Opposition Leader, Raila Odinga, from active Kenyan politics could leave the country without any checks and balances on Government policy. The Opposition will need to regroup in the lead-up to the 2027 general election. The high taxation that the Kenya Kwanza regime has introduced is having a marked effect on disposable incomes and more so on consumer spending resulting in a slowdown in the economy.
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The political climate remains stable and while sectors of the economy are showing good growth, a shortage of US Dollars, electricity and sugar are proving to be a major problem.
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Politically there is no change in Uganda with the Opposition still being heavily restricted. The economy is growing at a faster rate than most economies on the Continent and inflation is under control. The country’s oil pipeline project continues to face significant resistance and consequently a lack of potential financiers and insurers.
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A General Election will be held on 15th July 2024 but there is unlikely to be a change in leadership. The economy is growing well and is projected to continue to do so,
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Ethiopia continues to pursue its ambition to achieve access to the sea through its MoU with Somaliland, all while dialling down the rhetoric and pursuing a more diplomatic approach, which could open a path to talks with Somalia. A Cabinet reshuffle continues to consolidate Prime Minister Abiy’s hold on the administration. On international trade, the country made significant progress on economic cooperation with Kenya and compliance with a number of AfCFTA commitments.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea and Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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•Pursuant to the ruling of the Court of Appeal delivered on 19 January 2024, the Social Health Insurance Act, 2023 became operational effectively replacing the NHIF Act. •The draft Social Health Insurance (General) Regulations, 2023 set the monthly deductions at 2.75% of an individual’s gross salary or wage of the household. The contribution is not capped.
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Uganda hosted the 19th Summit of Non-Aligned Movement (NAM) Heads of State and Government, a forum of 120 member states from 15 to 20 January 2024, at the Munyonyo Commonwealth Resort. Then from 21 to 23 January, at the same venue, Uganda hosted the Third South Summit organized under the framework of Group 77 and China, a loose alliance of developing countries.
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KENYA MARKET UPDATE – H2 2023 Boniface Abudho – Research Analyst, Africa
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Eastern Africa is set to experience a landscape of modest economic recovery characterised by a stable median GDP growth rate, indicative of a recovery phase across most nations. However, the region grapples with significant challenges, primarily due to escalating sovereign debts that exert fiscal and monetary constraints, posing risks to sustained economic stability. Amidst this, political uncertainties in several countries further complicate the regional outlook. Despite these challenges, opportunities abound, particularly in the infrastructure and energy sectors, which are key drivers for future growth and development in the region. This intricate balance of growth, economic challenges, and opportunities sets the…
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The current regime appears to be at loggerheads with its neighbours, the Judiciary and the people, and this is a major concern. The IMF has given a largely positive outlook for the economy but the reality on the ground seems to be quite different.
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Tanzania remains politically stable and is becoming more democratic on this front. FDI is increasing into the country and the economy is performing well. The country’s debt levels are reported as being the lowest in Africa.
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The Government continues to make it difficult for the main Opposition parties to function, with constant house arrests and harassment, which does not bode well for future elections. Uganda has assumed leadership of the Non-Aligned Movement and the G77+China. The economy is showing signs of recovery.
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2024 will see elections being held in Rwanda but there is unlikely to be any change on the political front. The country is showing impressive economic growth and inflation has reduced to the target range.
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Ethiopia’s deal with Somaliland has cast the country into yet another high stakes dispute, with potential to drag it into conflict with its neighbors and affecting stability in the wider Horn of Africa region, and potentially beyond. Currently no efforts to begin mediation have been successful, so where the dispute goes from here is highly uncertain.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea and Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreEastern Africa Association 60th Anniversary
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Eastern Africa outlook 2024: Navigating growth, inflation, and fiscal reforms against a backdrop of rising sovereign debt and geopolitical challenges. By Agnes Gitau – Executive Director at the Eastern Africa Association Sub-Saharan Africa emerges from 2023 with cautious optimism as analysts forecast signs of modest recovery and resilience in the macroeconomic landscape. The region is
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Amplifying Africa’s talent powerhouse and growth potential and Kenya’s advancement in innovator services and role as a leading regional hub through the TRIFIC Special Economic Zone
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Trade between Singapore and Africa has been steady with CAGR growth of around 15% from 2019 to 2022; Singapore is among the top 10 investors in Africa
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Artificial Intelligence has become a fact of life. It is here to stay and will no doubt evolve further over time. How humankind adapt will likely determine whether it will be “Boon or Bust”. It certainly has benefits, some of which we are already seeing, but it also has downside risks too. How the world handles those risks will decide where the world goes!
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Politically the country seems to have lost direction as policy makers are creating untold confusion with the policies introduced increasing the cost of doing business in the country. The economy is not performing anywhere near its potential and needs a boost from somewhere. Citizens are complaining of being over taxed with their disposable income having fallen significantly.
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Politically stable and becoming a magnate for Foreign Direct Investment. However, severe power shortage and a lack of US Dollars is dampening the economy although it is still expected to grow by 5.3% in 2023.
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No change in the political landscape. The country’s draconian LGBTQ law is beginning to impact the economy as are terrorist attacks.
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Rwanda continues to be politically stable with an economy that is outperforming many of its neighbours. However, inflationary pressures continue, although, it does seem to be subsiding.
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Ethiopia still faces difficulties bringing its Amhara and Oromia conflicts to an end, which continue to impact investor perceptions of the market, and remain a drain on Government resources. New investment is still only trickling in. An investment grade downgrade by Fitch spelt bad news for the economy but debt relief from international institutions is on the horizon.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea and Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreEastern Africa Economic and political outlook 2024 :Annually, the Eastern Africa Association hosts its regional prospects series, providing a thorough analysis of key sectors, sharing experiences and expert insights into the political and economic factors influencing business in the region. The forum is an important program in EAA’s event’s calendar, presenting a clear view of potential risks and opportunities for the region.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreA unique evening celebrating the pioneering African-born photographer Mirella Ricciardi
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreWe are delighted to welcome Members and Guests to the Eastern Africa Association Christmas Reception 2023
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On behalf of the Chairman and the Board of the Eastern Africa Association, it is with great pleasure that I extend this invitation to you for our esteemed Annual Christmas Drinks event. Event Details: • Date: 12th December 2023 • Time: 5.30 pm – 8.00 PM Venue: Stephenson Harwood, I Finsbury Circus – Venue: 1
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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The Insurance Landscape – by Kashif Chaudhry
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This commentary was contributed by Agnes Gitau, Executive Director UK & Europe at the Eastern Africa Association.
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Politically the country is waiting for the outcome of the National Dialogue. Economically, Kenya is facing an uphill task in the short-term with a lot centring on repayment of the Eurobond next year and a sound debt management plan thereafter. Higher taxes are having a marked effect on collections and the cost of doing business.
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The country is expanding its reach globally with the President travelling and selling Tanzania as a favourable investment destination. While freedom of speech and the democratic movement had improved under the current regime, there are signs of this going in the opposite direction in respect of Constitutional reform. Meanwhile, the economy is growing at above average levels.
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The arrest of the country’s Opposition Leader and impact of the new LGBTQ law are a concern for Uganda. However, the economy seems to be on the right track and Foreign Direct Investment, particularly for the upstream oil industry, is increasing.
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It is now apparent that President Paul Kagame will once again vie for the Presidency in 2024, which, at least, from the perspective of Rwandans, is welcome. It will be important, should he be re-elected, for the President to set out a succession plan. On the economic front, Rwanda continues to perform well and there appear to be several opportunities for investors.
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Nervousness remains over Ethiopia’s ability to hold the peace in Tigray and re-establish order over other restive provinces, particularly Amhara. However, Ethiopia’s international partners are eager to normalise relations, and the Government is stepping up efforts to liberalise aspects of the economy, with signs that economic growth is picking up.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea and Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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By Agnes Gitau – Executive Director UK & EU – Eastern Africa Association Nairobi has been positioning itself as a formidable regional hub for international arbitration. The foundation for this emerging status was significantly fortified during the inaugural Nairobi Arbitration Week (September 2023). Organized by the Nairobi Centre for International Arbitration, this event witnessed
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreAs the world strengthens its commitment to countering climate change, one pressing concern is the accessibility of climate finance, particularly for the African continent.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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This commentary was provided by Tom Makau (tom.makau@ebiashara.com), Head of Infrastructure and Security at eBiashara Africa Ltd who is a member of the Association. Tom presented on the subject at the Regional Members’ Meeting in Nairobi on 6th September 2023.
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t is a relief, to see that at least the agenda for the bipartisan talks between the Government and the Opposition has been agreed. It remains to be seen if the discussions will be fruitful and result in a more unified country. The economy, while still growing, is perhaps stuttering with significant increases in taxes and consequently reductions in disposable income and so consumer spending.
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Tanzania continues to outperform its neighbours and is attracting considerable interest from foreign investors. The recent arrests in connection to the DP World contract are a worry with fear that the country may be regressing to a ban on freedoms. Economically the country is on an upward trend.
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No change on the political front but Uganda’s economy is showing signs of slowing down. The oil pipeline project is expected to be licenced by January 2024 despite criticism of its likely environmental impact.
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Rwanda remains politically stable. Its economy is growing at a faster pace than others in the region and indeed Sub-Saharan Africa. It continues to face inflationary pressures but these are believed to be on a downward trend.
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Just as Ethiopia was righting itself after the Tigray conflict, a new outbreak of violence between the Federal Government and local militias in Amhara threatens to derail the restoration of peace and prosperity in the country. While international bodies and investors are concerned, the Government seeks to restore control through a State of Emergency. The renewed conflict is a reminder of the broader constitutional complexities in Ethiopia which still need to be resolved. Nonetheless, the economy continues to grow, and IMF/WB talks with the Government are progressing well.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea and Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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INTRODUCTION The Finance Act (“the Act”), 2023 received Presidential assent on 26th June 2023. Most of the changes will be effective from 1st July 2023, which is the Government’s fiscal year, while a few will be effective from 1st September 2023 and 1st January 2024. Most of the proposed changes in the Finance Bill, 2023
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TRENDS IN ENERGY & INFRASTRUCTURE INVESTMENT IN EAST AND SOUTHERN AFRICA
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Given the potential impact of previous protests on people and businesses, we recognize the importance of proactive risk assessment and mitigation strategies. Therefore, as we approach the scheduled protests, we request you to take the time to peruse through our proposed mitigation strategies for yourself, your loved ones, and your business to ensure safety and
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The Eastern African Association (EAA), in collaboration with the Ethiopia Embassy, London and Ethiopia Investment Commission (EIC), organised a hybrid business roundtable to brief UK investors on Ethiopia’s Economic and Political Reforms. This report provides an overview of the event’s discussion on the significant reforms implemented by the Ethiopian federal government to attract international investment and strengthen its economic and political systems.
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A SHIFT IN THE WORLD ORDER? PERHAPS, BUT NOT QUITE YET….. “Prescriptively, world order refers to a preferred arrangement of power and authority that is associated with the realization of such values as peace, economic growth and equity, human rights, and environmental quality and sustainability”. Encyclopaedia Princetoniensis, Princeton University A historic perspective In essence, as
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Kenya is facing political turmoil with the Opposition ramping up demonstrations that are now seeing the population come out spontaneously. It is imperative that some form of lasting truce is found between the Government and the Opposition. Inflationary pressures continue to impact the country and this is creating untold hardship on the citizens.
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Tanzania is politically stable and has moved forward democratically under President Hassan’s regime. The business environment has improved considerably and investment in the oil and gas sector is expected to flow in.
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There is no change on the political front. Economically there is considerable optimism both internally and from International Agencies aided significantly by investments coming in for Uganda’s oil industry.
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No changes on the political front although an election is due in 2024. Economically, Rwanda continues to perform well, but does seem to be facing some headwinds at the moment.
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With improving international relations, particularly with key Western partner the United States, and an economic peace dividend from the end of the Tigray conflict emerging, Ethiopia’s prospects are improving. The Government is forging ahead with economic reform programmes, and actively seeking foreign investment.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea and Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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EAA INAUGURAL ANNUAL LECTURE LEVERAGING TRADE AND DIGITAL FINANCE TO SUPPORT THE IMPLEMENTATION OF THE AfCFTA The EAA held its Inaugural Annual Lecture on 6th June in London on the fringes of the Commonwealth Trade Ministers meeting. We were honoured to have the presence of The Rt Hon Patricia Scotland, KC, Secretary-General, Commonwealth Secretariat; HE
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Politically the country continues to be unsettled with the Opposition constantly threatening demonstrations and the Government appearing to be in a confused state. The World Bank is optimistic on the economy, although the reality is that the short-term is likely to be hard going.
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Political stability under the current regime continues. The economy is performing well although there are further reforms required.
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Politically there is no apparent change in the country. The Bank of Uganda projects that “overall, the economic outlook for Uganda in the remaining part of 2023 and years ahead is positive but external vulnerabilities remain elevated. This will continue to dictate the policy mix to ensure macroeconomic stability”. The new anti-LGBTQ law could result in sanctions and restrictions from many parts of the world which could dampen economic prospects.
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Politically Rwanda remains stable, and its economy is growing. However, inflationary pressures are creating a cost-of-living issue which the Government is handling but has a long way to go.
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Progress continues to be made on implementing the Tigray Peace Agreement, drawing a line under the bloody two-year-old conflict, though the lingering presence of Eritrean troops poses a potential threat to its success. The Government seems intent on reaping a peace dividend as it presses ahead with its reform programme, focusing on liberalising the banking, telecoms and logistics sectors.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea and Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreEastern Africa Association breakfast briefing on Ethiopia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreA deep dive into Tanzania’ Ambitious Structural and Political Reforms with Gilead Teri, Executive Director at Tanzania Investment Centre. We are pleased to extend this invitation hosted in collaboration with Tanzania High Commission UK, Tanzania Investment Centre and Zanzibar Investment Promotion Agency. This will be on the 1st of June – 8.30 am to 10
Learn MoreAfrica News, Africa Trade, Africa Trade Policy, Banking Sector, Commonwealth, Digital Finance, Finance, News, SMEs, Trade Finance
The annual lecture by the Eastern Africa Association will discuss the importance of digital and trade finance in cross border trade. The event will take place on the 6th of June 2023, STARTING AT 1.00 PM (Networking Lunch and Registrations followed the annual lecture and response from 2.30 pm to 5.00 PM To register
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreThe Eastern Africa Association, Nairobi will hold its next, six weekly regional members’ meeting on Wednesday 7th June 2023 at the Nairobi Serena Hotel: 07:30 – Registration, meet and greet 07:45 – Nikhil Hira, EAA Executive Director for EAst Africa – Host / Moderator 07:50 – Stewart Henderson, EAA Chairman – Welcome and opening remarks
Learn MoreWithin the Margin of Error – A Post-Election Polling Retrospective
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreData Protection Information Assesment & Vulnerability and Penetration Testing – An eBiashara Africa Ltd Presentation to EAA Members’ on 26 April 2023
Read MoreOverview of ESG in Kenya and Trends to watch in 2023
Read MoreEast Africa Tax Developments
Read MoreIt is clearly apparent that Tanzania is open for business and has many opportunities available for investors. The Tanzania Investment Centre is a one-stop shop that will assist investors with their set-up in the country.
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Political instability brought about by the demonstrations organised by the Opposition has left considerable uncertainty and taken its toll on the economy. Debt payments are rising and for the first time ever higher than normal recurrent expenditure. Economic activity is subdued and Government appears unable to meet its monthly recurrent expenditure obligations.
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Politically stable and a growing economy are clearly evident in Tanzania. It is also apparent that the country is open for business and is actively encouraging investment both local and foreign.
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With President Museveni’s son having indicated his intention to vie for the Presidency in 2026, confusion reigns, particularly, as the President has not said whether he will be stepping down. The economy is showing signs of growth and Uganda expects significant Foreign Direct Investment in the medium to long term.
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It appears that Presidential succession is now being discussed in a politically stable environment. The Government is introducing tax reforms to ease the burden of taxation. Inflation continues to be high but the economy is performing with good growth.
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2023 is looking to be a considerably brighter year for Ethiopia as the peace in Tigray appears to be holding and both sides implement terms of the Peace Accord. While rebuilding costs are very considerable, and instability continues to plague parts of the country, the Government appears intent on restoring an attractive environment for international investors and is driving a number of initiatives to increase FDI.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea and Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreAfter a gloomy 2022, the global economy appeared to be in slightly better shape by the end of the year. What does 2023 hold in store for business and economic prospects for the East African region? In our commentary we lay out some views about how the year might unfold.
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Politically things look confused as the new Government sets its policies. The Opposition is planning demonstrations against the cost of living which is a concern. The economy appears to be stagnating and with tax revenues slowing down.
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Political freedom appears to have become a reality. The economy is growing at a reasonable rate and the fact that the case against the crude oil pipeline was won is extremely positive for Tanzania.
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Political succession remains a question that is yet to be answered although there are indications that President Museveni will vie for another term at the next elections. The oil sector is seeing increased activity which is expected to give the economy a boost.
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No changes on the political front. The economy is performing well but inflationary pressures are becoming an issue that have resulted in increased interest rates.
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Ethiopia’s prospects have brightened considerably since the ceasefire in the Tigray war and the apparently successful peace accords. While there will still be obstacles to a lasting peace and constitutional settlement, most observers agree that the war is now over. Economic activity is picking up and the Government is pursuing a variety of valuable economic reform measures.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea and Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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This is a commentary and comments are welcome on email to info@eaa.co.ke
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The Opposition appear to be on the war path threatening to hold rallies around the country protesting at what they continue to believe was a stolen election and against the Government’s handling of the economy and the promises it made. The economy is showing signs of slowing down but is still likely to perform better than regional and global averages.
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Tanzania continues to increase its standing on the world stage as an investment destination, however, it remains to be seen if changes identified by economists and the private sector alike can be translated into tangible business environment reforms.
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The political scene remains unchanged. Economically the country is growing but at lower rates than originally projected. Inflation is expected to be down to 5% by the end of 2023. The oil sector is moving forward rapidly with considerable activity and investment in the oil rich areas. The Ebola outbreak has ended which may result in increased visitors giving a boost to the tourism sector.
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Politically the country remains stable with elections set to be held in 2024. Tensions with the DRC are increasing which could impact regional stability. The economy, particularly the service sector, is growing well but inflationary pressures are an issue.
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The peace deal between Ethiopia’s Federal Government and the Tigray region’s rebel leadership appears to be sticking, with concrete measures taken to implement its conditions, including the disarmament of rebel forces and resumption of supplies of goods and services to Tigray. Unresolved points remain the continued presence of Eritrean troops and uncertainty about the long-term constitutional arrangements for Ethiopia. However, the improved environment means investor sentiment is lifting and conditions for a rise in FDI are emerging.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea and Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreAn economic outlook for the East Africa region in the year ahead and prospects for the future
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Global telecom service provider Iristel expands into Kenya Tanzania: ZAFICO to go solo in Zanzibar fish processing project after Sri Lankan partner pulls out Kenya Airways Stock Suspension extended as restructure drags on Tanzania: Julius Nyerere hydroelectric dam impoundment launched Kenya: Construction slows to 4.3% as raw material demand softens
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Agnes Gitau, the EAA’s Executive Director UK & Europe, writes about the difficult year ahead for Africa, but says beyond the headlines of bad politics, Africans will continue with business-as-usual innovating and designing products that respond to the challenges.
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Courtesy : Mwango Capital Capital gains tax on the transfer of property, unquoted securities&rights – up from 5% to 15% Withholding tax on interest earnings on bearer bonds issued to non residents – 7.5% Withholding tax on derivatives earnings by Foreigners – 15% Annual Exercise duty inflationary adjustment:Commissioner General is now empowered to exempt
Read MoreEastern Africa Outlook 2023 : Exploring Political and Economic Outlook for the region
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Dear Members, 2022 was a turbulent year in global markets, and businesses in our region and all over the world have been dealing with soaring inflation, disrupted supply chains and volatile foreign currency markets. And yet, we have been inspired by how our members have been resilient, rising to the challenge, forging new partnerships, adopting new technologies
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Ms Agnes Gitau, Eastern Africa association’s executive director for UK and Europe, spoke to CNBC’s Business Broadcast Journalist Abiy Agina on the concluded US – Africa Leaders’ summit. Watch the interview on the link below. https://www.cnbcafrica.com/media/6317222239112/
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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RiskMap is Control Risks’ annual publication forecasting the main global risk trends in the year ahead. This commentary is reproduced with kind permission of Control Risks and was presented to the Association’s members’ meeting on 30th November 2022 by Robert Hutchinson and Patricia Rodrigues of Control Risks Nairobi.
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On the political front there is no change with President Museveni continuing to rule Uganda with an iron fist and showing no signs of stepping down. The economy is facing significant headwinds and could well head into recession if the Government does not implement the right policies. However, the Ebola outbreak appears to be subsiding. The country is forging ahead in the oil industry despite detractors both locally and internationally.
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The new Government is starting to keep some of its campaign promises but not quite in the way they said. A cohesive Executive is essential, but this is currently lacking. The country’s forex levels, and debt are at alarming levels and overall spending power has fallen.
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For Tanzania, the outlook remains positive and stable with renewed positivity in the market from potential and existing investors. Whilst the regulatory environment remains a complex one, business prevails, and despite this, the Government continues to repeat messaging that the regulatory burden will ease over the coming financial year. Watch this space.
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Rwanda continues to be politically stable, and its economy remains resilient. However, inflationary pressures are taking a toll on poverty in the country.
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The signing of a Peace Agreement between the rebel Tigrayan leadership and the Federal Government, after a two-year civil war, if upheld, will provide significant respite to a battered population, and open up investor appetite in the country again. Obstacles remain, including the status of Eritrean forces and Amharan militias, but it appears the will is there to address these.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea and Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreA headline event on the 2023 risk landscape for the globe and East Africa by Control Risks and an EAA panel. Hybrid event at Sarova Panafric hotel, Nairobi and by zoom.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreThe Chairman of the Eastern Africa Association, Lord Valentine Cecil cordially invites you to join us for dinner on the 14th of December 2022, at Stephenson Harwood. Invited guests include, Diplomats from the Eastern Africa Region and Government representatives from the UK and Europe.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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In the fringes of AFSIC 2022, The Eastern African Association hosted a high profile delegation from Mauritius to network and discuss the role of Mauritius as a hub for Africa Investments and opportunities for members of the Eastern Africa association in the country. In his remarks, Hon Seeruttun, Minister of financial services and good governance
Read MoreLegal Networking reception with Members of the Africa Legal Network, hosted by Stephenson Harwood in London. 5.30 – 8.30pm at the offices of Stephenson Harwood in London
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A short reminder on how to set a password and access your EAA account through the website
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The new Government has taken over and seems to be making all the right noises in dealing with the problems being faced in Kenya. Whether it will be able to meet its promises remains to be seen, but without doubt, the current economic climate is going to be an issue. The country is performing above average on the economic front, but poverty levels are on the rise.
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The outlook for Tanzania continues to be positive with continued interest from foreign investors and an improved fiscal rating despite rising inflation and global impacts continuing.
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Politically Uganda shows no sign of change in the foreseeable future. The economy is showing continued signs of slowing down as global shocks come home to roost. The oil industry is facing opposition over Climate Change and human rights matters.
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There are tentative hopes that a renewed peace push may dampen the Tigray conflict and pave the way to a peaceful resolution; however, given the volatility displayed on both sides and the yawning gap in their demands, this is still far from assured. While the conflict rages in the North, large parts of the country remain open for business and some encouraging reforms in the financial and telecoms sector begin to bear fruit.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea and Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreThe EAA is delighted to welcome the Minister for Financial Services and Good Governance of Mauritius, the Honourable Mahon Kuman Seeruttun to a networking meeting for Members in London. He will be accompanied by a delegation of senior ministerial officials. Click the link for more information and to register for the event
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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The UK and Kenya got new leaders in the same week in September, both of interest to many of our members. But both events have implications for regional and global affairs, potentially relevant to all.
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Despite talk of an overcrowded market and funding retreat, fintech is proving its mettle in the African markets, serving as a lever to financial inclusion and increasingly bringing innovative solutions to market that are uniquely designed for the heterogeneity of the African population.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreThe EAA will hold a one hour virtual briefing, to update Members on political and economic developments in Eastern Africa. With the Kenyan presidential elections in the rear-view mirror, we will focus on the outcome and what it means for international investors. 7th September 12 noon UK time.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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The use and acceptance of cryptocurrencies In Africa is becoming more and more prevalent, and there have been recent positive signs in countries such Kenya, Mauritius, Tanzania, and Uganda. Our commentary highlights developments in Kenya, Tanzania and Uganda and is reproduced courtesy of Bowmans.
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The political situation remains stable. Economically the country is on an even keel. The oil industry is pursuing ambitious projects despite various obstacles in their path.
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The prospects for a negotiated settlement of the Tigrayan conflict are looking more hopeful, with the outline of a process in place. There are still mountains to climb as the differences between the two sides remain significant. Other ethnic conflicts continue to batter other parts of the country. That the Tigray war may be drawing to a close has buoyed economic sentiment, though the war and global economic pressures continue to weigh on the economy.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea, Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreOn August 9, 2022, Kenyans will cast their ballots for a new president, members of parliament, and members of the Kenyan senate. Co hosted with the Royal Africa Society and GBS Africa, this event will provide insights to some of the factors that will impact the outcome of the elections, and how they will affect Kenya’s future and the prospects for the region.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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On the Commonwealth Heads of Government Meeting and the importance of bodies promoting inter-connectedness in the ‘post-globalisation’ world.
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EAA analysis on the risks and threats, from the global impact of the Ukraine conflict to the climate crisis, and the implications for East Africa.
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Smooth elections will be critical to Kenya and IEBC will have to step up and ensure this happens. The leading candidates have chosen their running mates, adding a new dimension to the race. The economy is progressing well but may face headwinds in the coming months.
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With her first Budget in full swing, it is clear that President Hassan’s agenda is one of ambition and expenditure. The narrative from Ministries has been that of assisting the private sector, helping the economic base increase and keeping economic growth in at least high single digits. However, actual policy reform to ease doing business is still slower in coming.
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Politically there has been little change in Uganda. The economy which recovered substantially in 2021 is starting to slow with the prevalent global threats.
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Preparations for CHOGM are well underway with typical Rwandan efficiency. The economy is showing signs of a slowdown but is still expected to grow above the global average.
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The ceasefire in Tigray largely continues to hold, and aid flows have begun to arrive in greater quantities in the region. However, separatist and nationalist movements continue to arise in other parts of the country leading to continued security uncertainty and concerns over civil liberties in the country as a whole. Meanwhile, costs to the economy from the war at home and in Ukraine continue to rise.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea, Somalia
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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EAA CEO Toby Latta and Invest Africa CEO Karen Taylor agreed the partnership in January 2022.
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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
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On the impacts of the Ukraine conflict on global and regional economies. But the search for new sources of energy supplies will benefit some countries in the region.
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EAA analysis on trends in the global and regional economy, in the wake of a the pandemic, supply chain interruptions and the war in Ukraine.
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The direction of travel is a positive one, with a continued widening of the democratic space and improved view of Tanzania on the world stage. However, there is much more to be done domestically to create a business environment that is conducive for existing and potential investors
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There are no significant developments on the political front, while concerns over human rights and the potential for further sanctions remain. Covid-19 appears to be well under control. The economy is recovering but at a slower pace than originally anticipated.
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The Rwandan economy is recovering well and headed back to pre-pandemic levels of growth. Hosting CHOGM in June is expected to give the economy a further boost. Politically the country remains stable.
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The Conflict in Tigray continues to dampen with the announcement of a truce and ceasefire by the sides. The peace process is still not defined but rhetoric from both sides indicates a desire to find a solution.
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Latest developments in Burundi, South Sudan, Djibouti, Eritrea, Somalia
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Download the PDF version of the complete April 2022 Newsletter here.
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Click below to download the PDF version of the complete March 2022 Newsletter. Individual country updates are mobile friendly, to be found by searching for this month’s newsletter under the Newsletter drop down.
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Update for the week 20-26 Apr 2022
Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.
Read MoreA recent Court of Appeal decision in the UK highlights the increasing obligations on banks to not only verify who is giving them instructions in respect to a particular account, but also review the nature of those instructions. Banks may not be able to defend their actions by simply saying they acted on the authority
Read MoreJeff Gable – Head of Macro Research Absa and Anthony Kirui – Head of Markets Absa Securities gave a presentation on the Africa Financial Markets Index 2021 at the January 2022 meeting. To see his presentation please click on the link below: Financial Markets Index 2021, by Jeff Gable, Absa
Read MoreKihara Maina, CEO, I & M Bank Kenya gave a presentation on Investment in East Africa: the risks and opportunities in the region as seen through the eyes of an investor, at the EAA’s global meeting on 28th July 2021. To view his presentation click on the link below: Risks and opportunities in East Africa:
Read MoreHadi Sheikh, Director & Partner, Westminster Consulting gave a presentation on the East African Community’s (EAC) Customs Union and non-tariff barriers in the October 2021 Members meeting. So see his presentation, please click below: EAC CUSTOMS UNION – A PRESENTATION BY HADI SHEIKH TO EAA MEMBERS ON 13.10.2021
Read MoreGauri Gupta, Director IM Burbidge Capital Limited, gave a presentation at the January 2022 members meeting on the opportunities and the investment landscape in East African markets. To view his presentation click on his link below: I&M Burbidge Capital presentation on East African markets
Read MoreDaniel Mwathe, Brian Kalule, and Joshua Mwamulima of Bowmans Law gave a presentation on Data Protection rules in Kenya, Uganda and Zambia at the January 2022 Members meeting in Nairobi. You can view their presentation by clicking on the link below: Bowmans Law presentation on Data Protection
Read MoreDuring our members’ global meeting in April 2021, Jibran Qureshi, Head, Africa Research and FIC Strategy, Standard Bank Group presented on the current state of the economies in the Eastern Africa region. You can view his presentation by clicking on the link below: Jibran Qureishi Head, Africa Research Standard Bank Economic Outlook
Read MoreAs regional trade within Eastern Africa grows, in September 2021 members heard an insightful presentation from Joyce Karanja, Partner, Bowmans Law, and EAA Advisory Board Member on “Regional Competition Enforcement”, COMESA and EAC perspectives. You can view her presentation by clicking on the link below: Joyce Karanja, Partner Bowmans Kenya on Regional Competition Enforcement
Read MoreProfessor XN Iraki, University of Nairobi / Editor, African Journal of Business Management and Columnist for the Standard Newspaper provided his view and outlook on East African economies with a special focus on – the debt conundrum and bottom-up economics, at the September global meeting (1st September 2021). You can view his presentation by clicking
Read MoreAt the global members’ meeting in October 2021, Urvi Patel, Partner, Deloitte shared the firm’s predictions on TMTs in the region You can view her presentation by clicking on the link below: Urvi Patel, Partner Deloitte East Africa, 0n TMT Trends Predictions_vF.pdf
Read MoreThe future of the Tigray conflict is entirely dependent on concessions being made by both sides to allow talks to open up.
Read MoreUpdates from Burundi, South Sudan, Djibouti, Eritrea, Somalia
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On 23rd November 2021, the Ministers responsible for East African Community (EAC) Affairs recommended to Member State Leaders the entry of the DRC into the economic block. Our commentary sets out some background on this vast country and what opportunities lie in store for investors.
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As the general election nears, there is concern of disruptions and the impact that this could have on the economy.
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The outlook for investors and operators in Tanzania continues to improve with a raft of measures being taken to simplify the business environment and improve the economic and political climate in the country.
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Uganda remains in the same place politically with no viable opposition. The economy is slowly recovering and the reopening in January 2022 should help this.
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The country is showing a rebound after the effects of the Covid-19 pandemic. The virus is under control and a large part of the population has been vaccinated.
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After 18 months of conflict, the new year has seen the first hopeful signs of a diplomatic process to solve the Tigray crisis, with steps towards National Dialogue.
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Updates from Burundi, South Sudan, Djibouti, Eritrea, Somalia
Read MoreLegal experts examine recent trends in Data Protection and Intellectual Property law in the region
Read MoreEconomically the country is recovering well but the upward trend could reverse if there is political violence around the election.
Read MoreRecent moves by the Government indicate the country is moving in a positive direction
Read MoreThe economy showed signs of recovery in late 2021 but has tapered off in early 2022.
Read MorePolitically the country remains stable, and its economy is showing signs of going back to pre-pandemic levels. Unemployment and poverty increases are of concern.
Read MoreChances for some form of negotiated settlement in Ethiopia’s bitter Tigray conflict are better than they have been at any time since hostilities broke out.
Read MoreLatest summaries from Burundi, South Sudan, Djibouti, Eritrea, Somalia
Read MoreAn election in 2022 is creating some uncertainty, particularly as regards succession.
Read MoreDemocracy remains under threat with the arrest of opposition leaders. The President seems committed to economic progress for the country and there does appear to be a general sense of optimism in the population.
Read MoreCovid-19 cases were declining but have risen again in August. The vaccine roll-out is progressing. There are no major changes in the political scene.
Read MoreCovid-19 lockdowns are being eased and economic activity is showing signs of recovery. Politically the country remains stable.
Read MoreThe Tigray conflict appears to be escalating and spreading to other parts of the country, threatening a deteriorating security situation more broadly in the country.
Read MoreUpdates from Burundi, South Sudan, Djibouti, Eritrea, Somalia
Read MoreProfessor XN Iraki builds on the theme of the growing debt burden and the impact it is having on Kenya and other nations in the region.
Read MoreCovid-19 cases are declining and the vaccination programme is well underway. Politically there is some uncertainty around the 2022 election and the succession.
Read MoreThe outlook is largely dependent on the extent of changes to Covid-19 policies – the Socio-economic Response Plan – as well as the broader policy and reform agenda.
Read MoreThere appears to be an increasing push towards new leadership with opposition parties joining forces.
Read MorePolitically, Rwanda remains, stable but the country’s actions towards perceived “enemies” of the state is drawing global criticism.
Read MoreA new Government is in place and the inclusion of three opposition members in the Cabinet is positive.
Read MoreUpdates from Burundi, South Sudan, Djibouti, Eritrea, Somalia
Read MoreAfter a period in the investment outhouse, risks are definitely becoming more manageable again. The business environment may still be relatively speaking opaque, but it’s certainly worth getting in early.
Read MorePolitical uncertainty could make the next twelve months difficult although the economy is showing signs of recovery.
Read MoreWith the tourism sector set to finally make a come-back in 2022, major investment projects beginning to take off, exports increasing and foreign investors beginning to feel confident to invest in Tanzania again, there are positive signs for the economy.
Read MoreOpposition parties are looking to a post President Museveni future which is not by any means a guarantee.
Read MorePolitically Rwanda remains stable with a marked reduction in Covid infections and a high vaccine roll-out which is fuelling an impressive economic recovery.
Read MoreEthiopia is faced with a number of challenges over the next few months that could well derail what had previously been quite a positive development prospect for the country. It is unlikely that the Government will be able to draw a line under the Tigray conflict, the elections are likely to be sub-optimal
Read MoreUpdates from Burundi, South Sudan, Djibouti, Eritrea, Somalia
Read MoreThe EAA starts looking at the landscape of opportunity and risk in the region.
Read MoreEAA CEO Toby Latta talks to Tara O’Connor of Africa Risk Consulting about opportunities and risks in the region
Read MorePolitical stability is becoming a concern and the economy is struggling with the impact of Covid-19. The vaccination drive while launched has slowed down because of a lack of doses.
Read MoreTanzania is beginning to show its economic potential again and investors once again are showing interest. Politically matters remain stable. The acknowledgment that Covid-19 presents a serious threat is a welcome development.
Read MoreOn the political front there are growing concerns that the opposition is being supressed with heavy handed tactics and the world is taking note of this. Economically, a good start to 2021 is being impeded by a surge in Covid-19 cases.
Read MoreCovid-19 is being brought under control but availability of vaccines could become an issue. The economy is expected to pick up in 2021 and politically the country remains largely stable.
Read MoreCovid-19 infections have shown a significant downturn during May 2021. Elections are due to be held later this month which, if not peaceful, may set the country back. Ethiopia continues to open up to foreign investors.
Read MoreUpdates from Burundi, South Sudan, Djibouti, Eritrea, Somalia
Read MoreEAA CEO Toby Latta introduces results from the Members’ survey
Read MoreThe EAA analyses the results of its Members survey on the opportunities and risks in the region
Read MoreCovid-19 cases are on the rise and the country appears to be heading into another wave. Politically, while relatively stable at the moment, matters could change rapidly as the country moves towards the election.
Read MorePolitically, there is a fly in the ointment with the recent arrest of opposition leaders. The country is finally monitoring Covid-19 which is important in bringing it back into the global fold. With regard to the economy, the President is certainly looking to keep her inauguration promises.
Read MoreCovid-19 infections are showing a significant rise in June which resulted in the country’s second lockdown which is due to come to an end in July. The economy, while showing signs of recovery in the early part of the year, has slowed down again. Politically there has been little or no change since the election.
Read MoreRising Covid infections are a concern and likely to impact economic growth. Nonetheless, the country remains largely stable on the political front.
Read MoreAn unsettled period lies ahead, with the ongoing conflict and an election yet to be completed. All in all, the Prime Minister’s Parliamentary mandate will be important for economic growth going forward.
Read MoreUpdates from Burundi, South Sudan, Djibouti, Eritrea, Somalia
Read MoreThis commentary follows the presentation by Joyce Karanja, a partner at Bowmans Kenya and specialist in competition law. It contains some of the key points for competition rules in COMESA and the EAC.
Read MoreThe country may be headed to a third wave of the pandemic. Politically matters are in a state of flux whilst the economy is showing signs of revival.
Read MoreThe Covid-19 situation, despite Government denial, is likely to have a major impact on Tanzania’s economy and its relationship with the rest of the world. Politics will probably revolve around the push for constitutional change.
Read MoreAs long as the national and global impact of Covid restrictions continue it is difficult to see any prospect of an improvement in the economic situation in the near to medium term future.
Read MoreThe sudden surge in Covid-19 cases in January seems to be coming under control. The political scene is largely stable. The economy has gone into recession and faces an uphill struggle to get back to its pre-Covid position.
Read MoreThe Covid-19 numbers are increasing and perhaps being fuelled by the civil unrest. Politically the country, while firmly under the control of the Central Government, is somewhat unstable and is likely to be so till the elections are held. 2021 will be a difficult year economically for the country.
Read MoreUpdates from Burundi, South Sudan, Djibouti, Eritrea and Somalia
Read MoreThe latest indicators suggest a broad-based recovery is on the cards in East Africa following a relatively robust economic performance last year. As a region as a whole, the latest figures from NKC African Economics suggest East Africa was able to eke out a 1.2% real GDP growth rate last year.
Read MorePolitical uncertainty predicted for the next 18 months until the elections, while the economy shows signs of recovering from the pandemic decline
Read MoreTanzania’s new president indicates likely changes to the poltiical landscape are on the way
Read MoreThe economy is almost certain to continue in a weak and fragile state as long as Covid and the necessary restrictions to control it nationally and internationally remain in place. Politically no great change can be expected in the wake of Presidential elections
Read MorePolitically Rwanda remains largely stable and while Covid-19 cases surged in the early months of 2021, Government measures seem to have brought this under control. The economy was showing signs of recovery but the recent lock down may have reversed some of the gains.
Read MorePolitical uncertainty but likely economic recovery as Kenya goes in to 2021
Read MorePost elections, Tanzania appears to be stable and economy doing well, according to govt figures
Read MoreUncertain outlook given the variety of domestic and international political and economic pressures on the Ugandan Government.
Read MoreThe country saw a surge in Covid-19 cases over the holiday season and immediately took steps to curtail further spread. Politically, Rwanda remains stable and the economy is showing signs of recovery.
Read MoreUnrest is threatening Ethiopia’s gains, but the government remains upbeat about the economy
Read MoreOther updates from around the region
Read MoreAt this time of COVID-19-induced economic and social woes, the African Continental Free Trade Area, (AfCFTA), has been hailed as a continental comeback strategy, and as a way for Africa to reposition itself on a global stage.
Read MoreSOMALIA The capital, Mogadishu, continues to suffer from terrorist attacks, with two quite recently killing a large number of people and gravely injuring many others, including some Turkish citizens working in the country. The Al-Shabaab group is responsible for these, in an attempt to “intimidate and terrorise the Somali public” according to the country’s Prime
Read MoreSOUTH SUDAN Following interventions by the Pope and the Anglican Archbishop of Canterbury, President Salva Kiir and rebel leader Riek Machar agreed (again) to form a transitional unity government by a February 2020 deadline, even if some key political issues have not been resolved by then. Extending the deadline initially helped to maintain a ceasefire
Read MoreBURUNDI Condemnation of the deterioration of the human rights situation in the country ahead of elections scheduled to be held in May this year continues. Some independent journalists have been arrested for being “compliant in threatening the security of the state”, with the state prosecutor seeking a 15-year prison term. He has also called for
Read MoreRWANDA POLITICS Although he has his critics, when Paul Kagame became Rwanda’s president in 2000, he inherited a country that had been torn apart by genocide. To rebuild it he had to rely on mostly uneducated guerrilla fighters and a handful of ill-trained cadres. Even the most optimistic of analysts doubted his chances and one
Read MoreERITREA In his New Year Address, President Isaias Afwerki spoke of the country being “perched on the pinnacle of hope and confidence” and that, “in addition to suspicious regional developments, the main factor to usher in a favourable future is our domestic strength and capabilities”. He went on to say that “because we pursue an
Read MoreDJIBOUTI The country continues to court enhanced cooperation with China, following a recent meeting between President Guelleh and the Chinese Foreign Minister aimed at “expanding cooperation in the fields of blue and digital economy”. The President indicated that “he was willing to actively participate in the joint construction of the Belt and Road Initiative”, noting
Read MoreETHIOPIA POLITICS He arrived with a great fanfare, bringing hope and optimism to a country that was riven with deep divides, civil unrest and soured relations with neighbouring countries. Initially, PM Abiy devoted his attention to regional matters, securing a peace deal with Eritrea, which earned him the Nobel Peace Prize, and cementing diplomatic ties
Read MoreTANZANIA POLITICS Tanzania was not represented at the recent UK Africa Investment Summit, although Kenya, Uganda, Rwanda and Ethiopia were all in attendance, together with their respective investment promotion agencies. The repressive political environment and deteriorating business climate were largely to blame as the country becomes an even less favoured destination for foreign investors. The
Read MoreKENYA POLITICS A round up Anyone who has witnessed Kenyan elections in the past will know that they are generally a season of musical chairs as new alliances are formed and old ones thrown out. This is particularly true when an incumbent is coming to the end of his term. The lead-up to the 2020
Read MoreUGANDA POLITICS “Walking against corruption” On the morning of 4th December 2019, President Museveni led a public walk against corruption from Constitution Square in central Kampala to the Kololo air strip which is used for ceremonial functions. The object of the walk was to raise awareness of corruption and mobilise the masses to fight it.
Read MoreCOMMENTARY COP25 – MADRID Never let facts get in the way of an opinion is an age-old adage but one that far too frequently applies to the current climate change debate. Although it attracted little media attention in the UK, mainly because it clashed with the election in December last year, no less than 27,000
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On 2nd February 2022, the EAA and Invest Africa their first joint Eastern Africa outlook webinar. A panel discussed the economic prospects for the region, UK /EAC relations, and the political outlook. Watch the webinar here.
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Toby Latta, CEO, Eastern Africa Association, shared members’ views that were received from a survey on the business climate, risks and opportunities in the region at the July global meeting of members’ (28th July 2021). EAA Members Survey opportunities and risks (1)
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East Africa Weekly Chronology – 8-14 Dec 2021
ARC Briefing Monthly Chronology September 2021
ARC Briefing Monthly Chronology August 2021
ARC Briefing Monthly Chronology October 2021
East Africa Weekly Chronology – 10-16 Nov 2021
EAA Members Survey
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