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Global Startup Awards Africa announces Eastern Africa regional winners
Fifteen startups from Kenya, Uganda, Ethiopia, Mauritius, Rwanda and Tanzania have been announced as Eastern Regional winners of the Global Startup Awards (GSA) Africa 2022/23.
Kenya to discard visa fees for Africa traders
President William Ruto has announced plans to remove visa requirements for African nationals travelling to Kenya for business as a first major step to remove barriers to intra-Africa trade.
[Ethiopia] Azentio Software’s iMAL is now live at Rammis Bank
Azentio Software announced that the latest version of its Islamic banking solution - iMAL, has gone live at Rammis Bank, a newly launched financial institution in Ethiopia specializing in Sharia-compliant products and services.
ESET E.A to launch a cyber security industry survey
Global cyber security solutions provider ESET through its local subsidiary ESET E.A has rolled out an industry wide survey that seeks to establish the State of Cybersecurity in East Africa.
STIHL EA sets eyes on localizing its product development with $100 million investment
Power tools manufacturer STIHL East Africa has announced it will invest Sh100 million in local accessories manufacturing every year as it seeks to localise its product development in the region.
The East African Competition Authority and the Competition Authority of Kenya sign bilateral agreement
The MoU lays out modalities through which the agencies will mitigate competition infringements with cross-border effects, as well as foster transparency and predictability with regard to multijurisdictional merger notifications in order to reduce transaction costs for businesses.
TDB to launch three new virtual deal rooms with Asoko Insight
TDB to accelerate the financing of infrastructure, health and climate action projects in Africa through three new virtual deal rooms with Asoko Insight.
EABC underscores the role of business associations in the implementation of the AFCFTA
The East African Business Council (EABC) emphasizes the vital role of business associations in the successful implementation of the African Continental Free Trade Area (AfCFTA).
EABC urges EAC partner states to reduce costs of digital tax stamps to manufacturers
The East African Business Council (EABC) has called for a review and reduction in the cost of the Digital Tax Stamp (DTS) system, which has been implemented in the region to improve revenue collection on excisable goods.
YALI and Microsoft ADC partner to improve youth digital skills
The Microsoft Africa Development Centre (ADC) and the Young African Leaders Initiative Regional Leadership Centre East Africa (YALI) have signed an MoU to provide digital skills programs to young leaders in the region.
COMESA, IOM sign agreement to strengthen cooperation
COMESA and the International Organisation for Migration (IOM) have signed a Memorandum of Understanding to build a cooperative working relationship in different areas of common interest which centers on managing migration and related activities in the Eastern and Southern African region.
Five Eastern and Southern African countries under negotiation to sign Economic Partnership Agreement (EPA)
Commission reports on eleventh negotiation round with five Eastern and Southern African countries to deepen existing Economic Partnership Agreement
TDB and Finnfund working together for investment development in Africa
TDB Group has signed a Memorandum of Understanding with Finnfund, a Finnish development financier and impact investor, to promote investments that contribute to the UN Sustainable Development Goals in key projects in TDB member states.
EAC to digitize the Common External Tariff to enhance private sector participation in international trade
The digitalization efforts are aimed at enhancing the participation and access to trade information of the private sector in international trade.
[Column] Hardeep Sound: Close the tech skills gap to unlock East Africa’s economic growth
For East Africa, the digital economy holds enormous opportunity, with the potential to power growth across every sector of the economy.
Victory Farms raises $35 million to expand in the whole East Africa
East African tilapia producer Victory Farms has successfully completed a $35 million Series B round, which will fund the expansion of its operations in Kenya and Rwanda, as well as potential entry into Ethiopia, Uganda and Tanzania.
AfDB, COMESA launch $1.5 million project to improve electricity regulation in the region
The African Development Bank (AfDB) and the Common Market for Eastern and Southern Africa (COMESA) have launched a new regional initiative to enhance the sustainability of the electricity sector in Eastern and Southern Africa through harmonized regulatory frameworks.
Finverity raises $5 million to expand Supply Chain Finance Technology
Finverity raises $5m equity funding as revenues grow 15x to meet the demand for its solutions, and finish opening its offices in Dubai, Poland and Kenya.
[Kenya] Oxfam Novib, Goodwell launch a EUR 20 million fund to support SMEs in East Africa
Oxfam Novib and Goodwell Investments have announced a new EUR 20 million fund aimed at supporting early-stage growth companies in East Africa.
TradeMark Africa and Kenya National Chamber of Commerce and Industry launch online platform for women traders in East Africa
Designed to support women in trade across East Africa access and use vital and simplified information, iSOKO will unlock opportunities for participation, formalisation of businesses and growth in trade value.
Mauritius’ Sicom Group is now among TDB shareholder
With an investment of approximately USD 2 million inequity capital in the Eastern and Southern African Trade and Development Bank (TDB), SICOM Group’ subsidiary SICOM Global Fund Limited, joins the family of TDB shareholders.
[East Africa Business Week] Bob Koigi: What the entry of Somalia to the EAC means for region
This week, The East African Community (EAC) officially launched the verification mission to assess the Federal Republic of Somalia’s readiness to join the Community.
[East Africa Business Week] Bob Koigi: Improving business competitiveness in the region: The case of TradeMark Africa
As it rebrands to TradeMark Africa, TMA, in its bid to grow its continental footprint, aid for trade institution formerly known as TradeMark East, boasts of having made a lasting mark in East Africa where it has operated for over ten years.
[East Africa Business Week] Bob Koigi: Enhancing regional digital integration
As East Africa seeks to become a more deeply integrated and dynamic digital investment, innovation, and growth hub, it is exploring initiatives and partners to help it drive that agenda as it seeks to boost its competitiveness as an investment hub.
[East Africa Business Week] Growing the region’s investment portfolio
In the last week, a series of investments across East Africa have been unveiled by corporates, banks, multinationals and development partners as the region continues to position itself as an investment hub in the continent.
[East Africa Business Week] Bob Koigi: Scaling startups’ investment in the region
As startups successfully raise funding, they are boosting their product and service portfolio while setting sight on the East African region for expansion. This
[East Africa Business Week] Bob Koigi: Accelerating sustainable and clean transport solutions
A bulk of East African countries’ electricity comes from renewables. Yet the region’s transport sector relies entirely on imported petroleum fuels.
[East Africa Business Week] Bob Koigi: Boosting small businesses’ competitivity in the region
Small businesses are the engine of the East African economic growth, employing millions and opening up the member states to interact with each other through seamless trade.
[Nigeria Business Week] Andrea Ayemoba: Local fintech spreads to East Africa, oil and gas find major milestone
Nigeria, like other countries of the world, is going through some economically turbulent times. Inflation is on the rise (recently pegged at 21.9%) and local startups are directly impacted by financial crises on the other side of the world.
[East Africa Business Week] Bob Koigi: Region warms up to the hospitality industry’s expansion binge
Global respected hotel brands are expanding their footprint and have identified Africa as a key investment destination with the East African region catching their attention for its MICE, business and leisure growth potential.
[East Africa Business Week] Bob Koigi: Deepening diaspora remittances, driving regional investment
In a first of its kind move, The East African Community (EAC) has announced setting up a Diaspora desk that will focus on facilitating East Africans living in the diaspora to invest and trade in the region.
[East Africa Business Week] Bob Koigi: Partnerships bolster cross-border remittances and trade
This will also accelerate financial inclusion and remove the barriers around cross-border money transfers.
[East Africa Business Week] Bob Koigi: Investing in women-led businesses
Small and medium-sized enterprises (SMEs) account for an estimated 90% of all businesses in Africa and women own about a third of all registered African SMEs.
[East Africa Business Week] Bob Koigi: Banking on innovations, partnerships to grow financial services sector
These developments have led to improved services and a robust sector that is shaping the region’s financial services industry dynamics.
[East Africa Business Week] Bob Koigi: Cushioning food systems from shocks
This week, thousands of delegates across the continent and beyond are gathered in Kigali, Rwanda for the African Green Revolution Forum, AGRF, an annual event bringing governments and partners together around food security and making safe, nutritious foods produced in a sustainable way available to all Africans.
[East Africa Business Week] Bob Koigi: Region’s startups are on an expansion binge
East African startups have been on an expansion drive, raising funding as they seek to tap into emerging opportunities in the region and across Africa while growing their portfolio.
[East Africa Business Week] Bob Koigi: Bolstering integration with Tripartite Business Council
In a historic move for the integration process, The East African Business Council, COMESA and SADC Business Council recently launched and formed the African Tripartite Business Council.
[Column] Bob Koigi: Kenya business community’s expectations of the new government
Kenya’s incoming government following the just concluded elections takes office amid ballooning public debt, chronic drought, COVID-19 effects, inflation, unemployment and the impacts of global shocks that have buffeted the nation.
[East Africa Business Week] Bob Koigi: Boosting diaspora remittances through regional collaboration
As the region bets on diaspora remittances to boost respective countries’ national purses and drive economic growth across East Africa, member states are looking at cementing regional partnerships.
[East Africa Business Week] Bob Koigi: Actualizing the Common Market Protocol
The Summit discussed a raft of issues touching on the region from infrastructure development, energy transition, removing all restrictions on air transport services and strengthening the community.
[East Africa Business Week] Bob Koigi: Region bets on bioeconomy to bolster growth
Among the key interventions proposed in the strategy is the creation of new forms of sustainable bioenergy, and the conversion of waste materials to useful products.
[East Africa Business Week] Bob Koigi: South Sudan remains a strategic player in the region’s petroleum industry
Owing to its strategic position at the heart of a wider Nile Basin-East Africa hydrocarbons-rich area, South Sudan is emerging as the hub for petroleum industry services and exploration in the region.
[East Africa Business Week] Bob Koigi: West meets East
West African companies have particularly been keen to expand their operations in the East African region. This has been through mergers, partnerships or takeovers.
[East Africa Business Week] Bob Koigi: DR Congo’s factor in the integration agenda
The recent entry of the Democratic Republic of Congo to the East African Community has heralded a new economic dispensation expanding the regional market.
[East Africa Business Week] Bob Koigi: Investing in women-led businesses to deepen integration
East African member states, private sector players and development partners have stepped up their investment in women-led businesses and SMEs in a move likely to impact cross-border trade and boost integration in the region.
[East Africa Business Week] Bob Koigi: Financial institutions bank on tech to bolster offerings
East Africa financial institutions are betting on tech to boost their offerings, grow their customers’ portfolio and stay afloat in a competitive market.
[East Africa Business Week] Bob Koigi: What EU’s lifting of financial sanctions on Burundi means for EAC
The EU made the decision in the wake of deteriorating political situation occasioned by a disputed presidential election in 2015.
[East Africa Business Week] Bob Koigi: Heightened oil and gas activities inspire more investments
As the East African nations continue to make oil and gas discoveries, investors and multinationals are pitching tent in the region on an exploration binge with governments betting on the newfound resources to grow national and regional economies.
[East Africa Business Week] Bob Koigi: Sub marine cable investment connects region to the world
An increase in submarine cable activities and fiber connectivity is attracting more investments in East Africa while opening up the region to the world.
[Column] Phyllis Wakiaga: Why Kenya is losing its place in regional trade
Whereas Kenya has been trying to revive regional trade, our own policies and regulations developed over the last couple of years hinder these efforts.
[East Africa Business Week] Bob Koigi: What 2022 portends for East Africa
As the East African Community, EAC, member states eye innovative ways of deepening integration and trading more with each other, the bloc and individual countries are putting in place mechanisms, policies and legislation that seek to address longstanding hiccups that have put the brakes on seamless regional trade.
[East Africa Business Week] Bob Koigi: East Africa positions itself as investment destination of choice
The East African community continues to live up to its billing as a prime investment destination for investors.
[Column] Phyllis Wakiaga: Promoting local production will lead to regional industrialization
The establishment of an effective Common External Tariff in the East Africa region will lead to the exponential growth of the manufacturing sector.
[Column] Quinton Swart: Why boxed water is better? Thinking inside of the box when it comes to packaging water
Packaged water in South Africa is a growing market, commonly bottled in polyethylene terephthalate (PET) plastic. While this material is recyclable, more than half of plastic waste is not recovered, most of it ending up in landfill or in waterways.
[Startup Interview] Almasi Ndangili, Founder, Imarisha East Africa Productions, Kenya
Almasi Ndangili is the founder of Imarisha East Africa Productions Ltd, a Kenya-based talent academy promoting education through edutainment.
The one-stop border post between Tanzania and Kenya, a symbol of East-African integration
By cutting the crossing time to a maximum of half an hour, the One-Stop Border Post project has boosted trade and tourism between Kenya and Tanzania.
East Africa’s oil industry: A new story in the making
The recent acquisition by Total of Tullow Oil's entire interests in the Lake Albert Development Project in Uganda marks the beginning of a new chapter for East Africa's energy industry.
[Interview] Catherine Jura, Director Learning and Development, Edify Learning Forum Africa, Kenya
Training management firms like Edify Learning Forum Africa, ELFA, have been at the forefront of designing, managing and redefining organizational learning processes in Africa over the years.
[Interview] Kagure Wamunyu, CEO, Kobo360, Kenya
Kobo360 was launched in 2017 by entrepreneurs Obi Ozor and Ife Oyedele II. Kagure Wamunyu is the current CEO, leading the company's expansion and growth in the African region.
[Column] Phyllis Wakiaga: Regional integration within EAC is a key driver of trade
For years, trade has proven to be a key driver of economic growth for many countries across the globe. Trade has also been the fuel for driving regional integration for continents of the world.
[Interview] Peter Macharia Kamau, CEO, Jijenge Credit Limited, Kenya
Peter Macharia Kamau is a seasoned banker with over 30 years experience in the Banking Industry. Peter founded Jijenge Credit, a lending institution operating since 2014 within East Africa.
[Interview] Anne Wambui Gaitha, CEO, Regal Africa, Kenya
Anne Wambui Gaitha is an investment and financial services professional. She founded Regal Africa in 2015. Located at Top Plaza, 4th floor, Kindaruma Road, Kilimani, Nairobi, the company provides diverse financial services in East Africa.
[Startup Interview] Wilhelmina Diop, Marketing Director, HelloSolar, Ethiopia
Wilhelmina Diop is investing her skills in Renewable Energy and Sustainable Development into providing rural communities in Ethiopia with affordable access to power, through the startup company, HelloSolar.
[Column] Phyllis Wakiaga: What does the future hold for the East African Market?
As far as trading blocs go, the European Union (EU) has been a global case study of turning a free market into a common market.
[Interview] Nikhil Pereira, CEO, Africa Healthcare Network, East Africa
Africa Healthcare Network has over the years worked to change the landscape of renal care and education in Sub-Saharan Africa through the provision of dialysis services, education of clinicians and patients.
[Interview] David Kimani, Founder, Vacay Holiday Deals, Kenya
Kenyan entrepreneur, David Kimani, is providing the unique service of vacations and holiday trips on credit - to be paid for at later dates - with his company, Vacay Holiday Deals.
[Column] Phyllis Wakiaga: Kenya’s tax policies must be built to nurture and expand businesses
Taxation is a key element in cost of doing business and hence should be designed to optimize growth of industry and increase overall competitiveness.
[Column] Phyllis Wakiaga: How the EAC bloc can leverage its market
This year, reports and news articles have been awash with stories of a dysfunctional EAC bloc stagnated and in near-crumbling state.
[Column] Tobias Alando: Leveraging on regional blocs to spur industrial growth
The core of any economy is the ability of economic agents to convert inputs – capital, labour, energy, raw materials and purchased services – into useful products.
[Interview] Irfan Mirza, CEO, Trend Solar, Tanzania
Irfan Mirza is an IT consultant, project manager and strategist who co-founded Trend Solar, a power solution for rural communities in Africa.
[Column] Sachen Gudka: Why Kenya’s port effectiveness is crucial for growth of industries
It is quite telling that presently, the port of Mombasa is losing a chunk of Rwanda’s business to Dar es Salaam Port.
[Interview] Joe Gakuo, CEO, Oleum Holdings, Kenya
Mr. Joe Watson Gakuo is the Chief Executive Officer of Oleum Holdings Limited, and the founder of Upstream Awards.
[Kenya Business Week] Blazing the trail in economic growth
At a time when the rest of Africa continues experiencing suppressed growth occasioned by drought, political upheavals and low private sector activity, East Africa has been in the headline this week.
[Kenya Business Week] Energizing investor relations
Kenya this week continues to strategically place itself to benefit from regional integration and reap from its warm relationship with development partners and international investors.
[Column] Jens Ischebeck: How East African students can pay for online courses
With developing technology that has promoted reliable and stable internet connectivity among east African countries, students from the region can now take their courses in the comfort of their homes.
[Column] Ashok Shah: Capitalising on new insurance opportunities in East Africa
Consolidation is taking place in the East African insurance market due to rising capital requirements and mergers with international firms that want to gain a foothold in the region. Ashok Shah, Group CEO of APA Apollo examines the opportunities this brings.
[Column] Bob Koigi: Harmful tax practices slam the brakes on East African Community prosperity
That the spirit of fostering free trade and movement of people among East African member states has gained traction over the years is in no doubt.
COMESA and ARC partner to strengthen health supply chains
Africa’s public health supply chain institution – and the Common Market for Eastern and Southern Africa (COMESA) have signed a memorandum of understanding (MoU) in Cape Town to strengthen public health supply chains by enhancing medicine access in the region.
AfCFTA to boost income for East Africans
The real income is projected to increase between 2021-2035 as follows: Kenya (11.8%); Tanzania (10%); Uganda (3.8%); Rwanda (3.6%) (World Bank).
IMPACC opens up its call for investment applications of up to $150k in social ventures in EA
Impacc gGmbH has announced a call for applications for its third venture cohort of investment in innovative entrepreneurs in Rwanda, Uganda, and Tanzania, who will get a smart equity investment to scale their businesses.
EAC and ESAMI partner to support regional trade issues
The partnership between ESAMI and EAC will further undertake to provide training programs in all trade and trade-related areas of interest to the EAC and within the capacity of the Trade Policy Training Centre in Africa (TRAPCA).
Investment firm Rogers Group targets East and Southern Africa for exponential growth
For companies like Rogers, which are listed on the Official Market of the Stock Exchange of Mauritius (SEM), the pursuit of international growth opportunities is a key lever for increasing their presence in markets with high potential.
$ 400millions to be unlocked by EIB and TDB to support African companies impacted by trade shocks
Investment by business across Africa most impacted by trade and supply chain challenges will be supported by a new targeted financing initiative backed by the European Investment Bank (EIB) and the Eastern and Southern African Trade and Development Bank (TDB).
[Kenya] Digital bus ticketing firm BuuPass raises $1.3m for East African expansion
BuuPass, a digital bus ticketing company founded in 2016, has raised $1.3m in pre-seed round to expand its transport solutions across East Africa.
East African Community secures $1.4 million for feasibility study of key road project
The East African Community (EAC) has secured $1.4 million for a feasibility study on a key section of the Northern Transport Corridor linking the Republic of Kenya and the Republic of Uganda.
EABC urges governments to fast-track review of EAC SME charter
He said, SMEs should be empowered to trade under African Continental Free Trade Area Agreements (AfCFTA).
LG announces new Managing Director for East Africa
LG Electronics has appointed Dong Won Lee as its new Regional Managing Director (MD) for East Africa (EA). He takes over from Sa Nyoung Kim who has been holding the position for three years since January 2020.
TradeMark East Africa rebrands to TradeMark Africa
TradeMark East Africa has officially rebranded to TradeMark Africa (TMA) following all necessary regulatory approvals in most countries of operations across the East, Southern and Horn of Africa region.
EABC calls for an EAC single air transport services agreement to lower the cost of air transport in the region
Limited infrastructure, lack of standardized regulations and high air transport costs are among the challenges affecting the air transport sector in EAC.
Azercosmos partners with CommsCarrier to bring internet services to government organizations in Africa
Azercosmos has signed a collaboration agreement on long-term projects with CommCarrier Satellite Services, the provider of satellite services in Kenya.
The Water Project deepens its commitment to clean water in Vihiga county, Kenya
On January 20th, the County of Vihiga in Western Kenya signed a Memorandum of Understanding with The Water Project, a U.S.-based NGO building sustainable water projects to bring clean, safe, and reliable water to the communities of Vihiga County.
EAC launches the Verification Mission to assess Somalia's readiness to join the Community
The verification team comprising of experts from the EAC Partner States shall be in Somalia from 25th January to 3rd February, 2023, to establish the country’s level of conformity with the criteria for admitting foreign countries as provided in the Treaty for the establishment of the EAC.
Dimension Data targets East African organizations with new managed service
Dimension Data has launched 360 Observability, a new managed service that it says is designed to allow organizations to achieve deep visibility over their cloud-native applications, hybrid IT and multi-cloud infrastructure.
Flow Global a 2022 Inclusive Fintech 50 Winner
Flow Global a Fintech company was part of the top 50 Fintech companies identified by Inclusive Fintech 50 (IF50) as a rising and promising business that is helping to drive financial inclusion in the world.
Bolt appoints Takura Malaba as Regional Manager for East and Southern Africa
Bolt has appointed Takura Malaba as the new Regional Manager for East and Southern Africa, effective 1st January 2023. Takura takes over from Kenneth Micah.
Intra-EAC trade hits the $10 billion mark
Intra-regional trade within the East African Community (EAC) is on an upward trajectory, standing at $10.17 billion in September 2022.
TDB Group extends usd100 million financing to the export trading group to support farmers in Africa
The Eastern and Southern African Trade and Development Bank (TDB) has extended a USD 100 million trade finance facility to Agri Commodities and Finance FZE-LLC (ACF), a subsidiary of the Export Trading Group (ETG), one of the largest agricultural supply chain operators in Africa.
East African Community bets on Bioeconomy Strategy to boost food security
Dr. Mathuki said that the bioeconomy strategy – the first of its kind in Africa and the second in the world after that of the European Union – will increase opportunities for the EAC Partner States to deepen their cooperation in developing a sustainable and resilient bioeconomy.
World Bank earmarks $15 million for EAC to enhance regional digital integration
The Bank through its Single Digital Market (SDM) initiative aims at supporting the region to become a more deeply integrated and dynamic digital investment, innovation, and growth hub.
MediaTek Dimensity 9000 chipset now available in East Africa
The chipset is the world’s first TSMC chip built on the 4nm process and uses Arm’s new v9 architecture promising users faster performance and better power efficiency.
COLUMNS.
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[Column] Sinenhlanhla Zulu: Gender-smart infrastructure must be delivered at scale
Africa’s development finance community has set its sights on plugging the annual infrastructure investment gap ...read full column here
[Column] Pankaj Bedi: High production costs hurting Kenya’s apparel exports
The textiles and apparel sector is the third largest exporter in Kenya after horticulture and tea ...read full column here
[Column] NJ Ayuk: The outlook for African oil in 2023 is promising
Russian energy supplies to Europe continue to decline in the wake of the Ukraine war, Africa is poised to increase its oil and natural gas exports to the continent ...read full column here
INTERVIEWS.
[Interview] Anne-Marie Chidzero, Chief Investment Officer at FSD Africa Investments
Anne-Marie Chidzero, chief investment officer at FSD Africa Investments, talks about the risks and opportunities in backing Africa’s early-stage startups … read full interview here
[Interview] Awe Oludayo, Managing Partner, OS Concepts, Nigeria
Awe Oludayo is a business analyst with specialties in business process improvement, business process improvement and business process management … read full interview here
[Interview] Dr. Allan Pamba, Executive Vice President, Africa, Roche Diagnostics
Roche is a global pioneer in pharmaceuticals and diagnostics focused on advancing science to improve people’s lives … read full interview here
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Future Foods | African Food & Beverage Industries Virtual Conference & Trade Show | 9 March 2022 - 9 March 2023
Future Foods is a virtual meeting place for importers, F&B managers, retail category buyers, owner-operators, agents, and distributors from across Africa’s diverse and booming ... read full details here