Home > Insights > Kenya National Highways Authority (KNHA) is constructing more than 11 major roads at a cost of 144 BN KES (1.4 BN USD) across Kenya.
Tuesday, 02 Apr 2019

Kenya National Highways Authority (KNHA) is constructing more than 11 major roads at a cost of 144 BN KES (1.4 BN USD) across Kenya.


Insights Africa

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Economic Outlook

Economic Outlook

  • Kenya National Highways Authority (KNHA) is constructing more than 11 major roads at a cost of 144 BN KES (1.4 BN USD) across Kenya. The projects are undertaken by other financiers including the World Bank, China Exim Bank, African Development Bank (ADB) and Japan International Cooperation Agency (JICA).
  • Kenya current account deficit has stabilized at 4.7% in the first two months of 2019, offering crucial support to the shilling against the dollar at a time when other African currencies have struggled against the greenback.
  • Kenya tea has once again been given a one-year extension to access the Sudanese market without restrictions. This follows the lapse of the previous one-year window as the two nations continue to address the issue of quality.
  • In Uganda, there is an increase in the price of motor vehicles, footwear and clothing accounted for an increase in core inflation from 3.7% in February 2019 to 4.6% in March 2019.
  • In Zimbabwe, there are vast opportunities for Indian pharmaceutical companies to invest and partner local companies to supply the whole of Southern Africa, with Zimbabwe as the hub for the medicines and other pharmaceutical products.
  • Ethiopia has been one of the continent's best economic performers, growing at a rate of 10% for the past 15 years. It has been a model of state-directed development with a government that permitted no political opposition but invested heavily in infrastructure, agriculture, education, and other sectors.
  • The Central Bank of Sudan has frozen the work of the Market Makers Mechanism that was established in early October 2018 to decide on the daily US Dollar rates, for an indefinite period. The confidence in Sudan banks is not easily restored.
Political Events

Political Events

  • Qatar and Ethiopia have established distinguished relations, based on a common desire to open wide horizons of opportunities and areas of cooperation in various political, commercial, economic, investment and other fields.
  • The Secretary General of the Gum Arabic Council, Dr. Abdul Majid Abdulgader has announced that 2019 International Gum Arabic Conference will be held in Khartoum, Sudan by May 2019. The conference will discuss specialized workpapers, worked out by twelve delegates including some African countries, France, US, Britain and Netherlands.
Stock Market

Stock Market

  • East Africa stock markets are no longer favorites of investors seeking to raise capital for growth and expansion. The latest developments casts doubt on the future of stock market listing in the region with some of the listed counters such as Kenya national carrier, Kenya Airways considering a delisting option.
  • A sustained increase in the Nigerian equities market led to a decline of 1.24% in Q1-2019, thus making Nigerian equities the cheapest among its peers on the continent. The Nigerian Stock Exchange (NSE) went down from 31,430.50 to close Q1-2019 at 31,041.42, while market capitalization shed 59 BN NGN (165 MM USD) or 0.50% from 11.731 TR NGN (32.7 BN USD) to 11.672 TR NGN (32.4 BN USD).
Companies Transactions

Companies Transactions

  • Kobo360, Nigeria technology logistics platform, is set to launch its operations in East Africa. The company would open an office in Kenya in 2019 to exploiting opportunities along with the Northern Corridor which is anchored at the port of Mombasa. It will also expand into Ghana after starting operations in Togo in 2018.
  • Gulf African Bank (GAB) and London-based money remittance company WorldRemit have entered a partnership that will enable Kenyans abroad to make instant cash transfers to the bank local branches.
  • Agricultural firm Kakuzi has posted 18.6% decline in earnings reaching 481 MM KES (4.7 MM USD) in after-tax profit in 2018. The drop follows reduced avocado prices owing to oversupply in the European markets.
  • Equity Bank maintained its position as Kenya second-most-profitable lender as strong growth in income from government securities lifted its net profit by 5% to 19.8 BN KES (196.4 MM USD) in 2018.
  • Kevian Kenya, the producer of Afia and Pick N' Peel juice brands, has now ventured into the production of energy drinks, upping competition in the local market dominated Australia-produced RedBull and America's Monster Energy.
  • In RwandaBank of Kigali Group has announced a net profit rise of 17.2% reaching 27.4 BN RWF (30.7 MM USD) in 2018, maintained by higher interest incomes. BK Group net interest income increased by 14.2% registering 75.8 BN RWF (84.9 MM USD).

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