- Ethiopia and Uganda controlled more than half of Foreign Direct Investment (FDI) flows into Eastern Africa in 2019 attracting 91 BN KES (4.5 BN USD), an equivalent of 51.13% of the 889.59 BN KES (8.8 BN USD) flows into the region, according to the United Nations Conference on Trade and Development (UNCTAD) latest report.
- The International Monetary Fund (IMF) stated that Kenya Selected Specific Fiscal Risks covers seven of the 11 major risk categories identified as important internationally but does not provide estimates of their magnitude. Crucial information missing includes government lending programs, government guarantees, exposure of the financial sector to risk, and legal claims.
- The United Nations Conference on Trade and Development (UNCTAD) expected that Kenya economic growth will reach 5% in 2020, slightly slowed from estimated 5.6% last year. It will be the lowest expansion in economic output since 4.9% in 2017 when the country underwent a bruising presidential poll contest that pushed growth to a five-year low, before rebounding to a 6.3% growth in 2018.
- The Central Bank of Kenya (CBK) stated that investors propose a total of 9 BN KES (692.3 MM USD) in the five and 10-year dual-tranche offer, which sought to raise 50 BN KES (495.2 MM USD). The interbank rate has fallen to 3.83% from 5.45% at the beginning of 2020.
- According to the Kenyan Treasury, the amount of domestic and foreign investments in Kenya industrial sector decreased by 7 BN KES (1.5 BN USD) which was below the target by 31.1% in 2018/2019 due to the political processes that started in 2017 General Election but did not conclude till 2018.
- Financial Sector Deepening Trust (FSD) Kenya has received 25 BN KES (22.28 MM USD) commitment from the UK to enhance agriculture value chains among low-income households and improve livelihoods.
- Rwanda is eyeing an economic boost from its inaugural 40 MM USD bond, which was issued in London at the UK-Africa Investment Summit 2020. The Rwandan franc-denominated paper was issued by the World Bank to finance government projects in the 2019/2020 financial year budget. The bond offers investors an annual coupon of 25%.
- Rwanda and Zimbabwe are set for further economic and trade cooperation, with the two countries set to hold a Trade and Investment Conference from March 24-26 in Kigali (Capital of Rwanda). Noting that an MoU will be signed at the conference to create market access between the two countries.
- Zimbabwe, in partnership with the World Bank, are planning to introduce a competitive program for procuring large-scale photovoltaic solar power gadgets under the recently completed National Renewable Energy Policy (NREP), aiming at securing Zimbabwe's long-term energy supply needs in a sustainable way.
- African Immigrants may be Trump’s next target. Trump administration added seven new countries to its travel ban, most of them are in Africa, Eritrea, Sudan, Tanzania, and Nigeria.
- The United Nations (UN) has raised a red flag over looming food shortages in Zimbabwe highlighting that so far there is little evidence that enough maize is coming to feed the drought-stricken nation’s 7,7 million people, but government insists that it is prepared to deal with the deepening food crisis.
- Kenya's Nairobi Securities Exchange (NSE)NR expects the removal of a cap on commercial lending rates to stimulate stocks trading, lifting valuations and attracting new listings.
- The Uganda Securities Exchange (USE) has registered increased trading activity compared to the same time last year. The USE opened 2020 more active, recovering from a slow 2019. It recorded increased participation from foreign and institutional investors.
- The Nigerian Export-Import Bank (NEXIM) will be hosting the export enlightenment and engagement program for the South-South Geopolitical Zone from today to Thursday, 30th January 2020 aiming to boost non-oil exporting and promoting the diversification of the Nigerian economy.
- National Land Commission (NLC) failed to involve the State valuer in the compulsory acquisition of the 52 BN KES (15.05 MM USD) Integrity Centre Building. The latest audit shows that the department of Land Valuation in the Ministry Land, which is mandated to determine appropriate market values for purchase of land or property by government agencies was not involved in the acquisition.
- Sosian Energy, local renewable power firm, granted approval to practice geothermal power in Menengai, Nakuru. The firm, associated with Steel and cement tycoon Narendra Raval, is one of the three Independent Power Producers contracted by the state to build the 105-MW Menengai Geothermal power plant.
- Nigerian lender Access Bank will inject fresh capital into its newly acquired loss-making Kenyan subsidiary Transnational Bank. The multinational stated that its local business would return to profitability on increased volumes including of transactions like payments.
- The Zambia Cooperative Federation (ZCF) has entered into an equity partnership with Kasama Milling to own 70% shares in the milling company in bid to reduce the meal prices.
- The national Tanzanian carrier has chosen handling agent Swissport as its service provider at the carrier’s Dar es Salaam and Kilimanjaro Airport hubs. The support includes the entire package consisting of cargo and baggage handling, security checks, gate services, passenger check-in and the moving of aircraft on the stands. 21 flights per day will be handled.
- Ugandan telecom operators have until 30 January 2020 to formally notify the Uganda Communications Commission (UCC) of the type of licenses they wish to acquire under the new regime's entry into force.