- The value of disclosed corporate deals in East Africa increased by 82% reaching 113.6 BN KES (1.1 BN USD) and 49 deals in H1-2019 compared to 62.3 BN KES (603 MM USD) and 34 deals in H1-2018 , driven by activity in the financial, energy and manufacturing sectors mainly in the private equity, mergers and acquisitions space.
- In Kenya, petrol prices have dropped for the first time in five months, defying a weak shilling and the new inflation tax that has been launched last month. The new prices offer a reprieve to motorists but will hit families that use kerosene, whose price has gone up.
- Kenyans will know the contribution of tourism to the country's wealth through a new tool known as the Tourism Satellite Account (TSA) that will measure the value tourists add to related sectors, their spending patterns and jobs that followed the expenditure.
- In Kenya, maize imports from Tanzania and Uganda have helped to stabilize the market price of the grain, averting fears of a sharp increase in flour prices on supermarket shelves.
- Numbers of American tourists to Rwanda have grown by 114% y-o-y, being among the top 10 countries that have experienced significant increases by percentage in y-o-y bookings among American travelers.
- Germany and Rwanda have signed an agreement to work together in the areas of job creation, skills development and investment. Rwanda National Strategy for Transformation aims at creating 1.5 million decent jobs by 2024, which is slightly over 200,000 off-farm jobs per annum.
- The Zambian Minister of Commerce, Trade and Industry Christopher Yalumastated that attracting more investment will only be achieved through facilitating the creation of an attractive and competitive investment incentives structure that promotes both local and foreign investment.
- South Africa, Namibia and Zimbabwe, is proposing measures that could open the door to the international trade in elephant ivory, rhino horn and other endangered species.
- The International Monetary Fund (IMF) cautioned Zimbabwe government against boosting wages for state workers after the introduction of a new currency pushed up inflation and reduced spending power.
- The governments of Rwanda and Brazil have signed a Bilateral Air Service Agreement (BASA), a deal which will enhance connectivity between both countries. It is also expected to facilitate the private sector of both countries to explore and tap into the economic potentials of the two nations.
- Uganda has expressed concerns over lack of implementation of some of the trade policies along the Northern and Central Corridors, saying the situation is affecting free flow of cargo and persons across Nairobi and Kampala borders.
- Rising gold prices and investments in US stock exchanges through Kenya's first money manager at Standard Investment Bank (SIB) beat returns from the Nairobi stock market in the first seven months to July 2019.
- MTN Rwanda, the country's biggest telco is considering direct listing on the Rwanda Stock Exchange (RSE), disclosing that the firm is also weighing options of acquiring stake in Korea Telecom Rwanda Network (KTRN). If successful, the development could give the public the opportunity to own more than the 20% share of the firm - currently held through Crystal Telecom Limited.
- The Capital Markets Authority (CMA) has approved the first green bond to be issued by property developer Acorn Group and PE fund Helios to raise 5 BN KES (48.4 MM USD) for construction of student hostels.
- Victoria Commercial Bank has secured a 1 BN KES (9.68 MM USD) five-year loan from Swedish Investment Fund for Emerging Markets (SIFEM) as it intensifies debt-funded growth.
- Telkom Kenya has put on sale 3.87 BN KES (37.47 MM USD) properties spread across the country as it seeks to raise cash for contribution to its upcoming merger with Airtel.
- Nairobi-based healthcare diagnostics company Ilara Health has raised 75.8 MM KES (734,032 USD) in seed funding from local and foreign venture capital firms for local expansion.
- Betting firm Betika has started deducting 20% on customer winnings in compliance with a Kenya Revenue Authority (KRA) directive. Betika is the latest firm to deduct the levy on customer winnings after Betlion, registered as MauUgan Enterprises Limited, made a similar earlier.
- The Ongos Valley 4.3 BN NAD (280 MM USD) housing project that plans to build more than 4,000 affordable houses within five years, was officially launched in Windhoek, Namibia. The project will be funded by the Development Bank of Namibia (DBN), Nedbank, Absa and Standard Bank.
- Shares in AfriTin Mining Limited surged 4.9% to 3.20p after it agreed a 2.4 MM EUR working capital facility. The tin mining company with assets in Namibia and South Africa agreed on the facility with Nedbank Namibia.
- South African private education firm Curro Holdings will invest 223 MM ZAR (14.66 MM USD) in opening four new campuses after reporting a 44% increase in H1-2019 earnings.