- Kenya has been ranked 5th globally in an annual Bloomberg index measuring investments and opportunities in clean energy, underlining the country's position as the center of renewable energy in Africa. According to the Bloomberg NEF (BNEF) latest Climate scope report, Kenya's rise for the first time in the global top five has been backed by the higher contribution of solar, wind and geothermal capacity into the energy mix.
- More than three quarters of small and medium-sized companies in Kenya are planning to hire more workers in the near future, partly pointing to increased sales and optimism that the economy will recover.
- Most Kenyan banks continue to offer new loans at an annual interest rate of 13% even after the removal of lending controls allowed them to raise prices on credit facilities.
- New jobs in the mobile telecommunications sector increased at the fastest rate in five years. According to the Communications Authority of Kenya (CA), the telecommunication firms, including Safaricom, Airtel and Telkom Kenya, added 1,673 new jobs to their payroll in the year to June, reflecting a 23.8% jump.
- Uganda plans to borrow 600 MM EUR to finance a shortfall in its 2019/2020 budget as revenue under performs and the government fails to get the expected funds from the World Bank.
- The Government of Uganda, Private Sector Foundation Uganda (PSFU) and the European Union (EU) have partnered to promote private sector investment in order to spur sustainable economic growth and generate decent jobs, in line with the Africa-EU Alliance for Sustainable Investment and Jobs.
- The Central Bank of Ethiopia opens Treasury Bill market. The central bank decided that the market will determine the yield rate of the bill to attract banks and insurance companies. Individuals with cash can also participate in a primary market through auctions.
- Ethiopia has the potential to become the next textile and apparel (T&A) supply base for the world was organized last month by the International Trade Center (ITC) under the Partnership for Investment and Growth in Africa (PIGA) project.
- The Food and Agriculture Organization of the United Nations (FAO), the African Union Commission (AUC), the African Union Development Agency (NEPAD) in partnership with the government of Zambia have successfully launched the Agriculture Public Private Partnership Platform with significant participation and ownership from the private sector during a multi stakeholder meeting.
- Digital currency use surges in Africa as providers push for laws to protect clients. A fourth-year student at Uganda Makerere University committed suicide last month after losing 500,000 KES (4,934 USD) from his digital wallet in what police confirmed to be a cryptocurrency scam. Africa's fears to endorse digital currencies and blockchain technology are increasing.
- South Sudan main armed opposition group (SPLM-IO) stated that the government of President Salva Kiir Mayardit is the obstacle to peace in the war-torn country. Last week, the parties to the agreement convened in Juba to negotiate a solution on the state dispute.
- Kenyan companies cross-listed on the Dar es Salaam Stock Exchange (DSE) are reporting mixed results as the market remains unpredictable. Whereas Kenya Airways and Uchumi are struggling to interest buyers, KCB Group, East African Breweries Ltd (EABL) and Jubilee Holdings are growing interest.
- Turnover at the Uganda Securities Exchange (USE) has recovered hitting 58.2 BN KES (573.5 MM USD) from January to November 2019. The recovery indicates improved activities on the exchange stock within the same period last year. The turnover is described as the volume of shares traded on the stock exchange over a particular period.
- The Chinese e-commerce giant Alibaba Group signed an MoU with the Ethiopian government on Monday to join the Alibaba-led initiative Electronic World Trade Platform (eWTP). The eWTP hub in Ethiopia is aimed at enabling Ethiopia to provide smart logistics and services, conduct cross-border trades targeting SMEs by helping them penetrate markets in China and other parts of the world.
- KCB Group is the most attractive listed bank in Kenya in terms of prospective returns, according to the latest quarterly report by asset manager Cytonn Investments. The country's biggest bank took the top spot after being measured on a blend of factors including its profitability and market valuation relative to its rivals. KCB has the highest return on capital at 22.2%.
- American technology giant Google is among a group of global firms seeking to invest in Lake Turkana Wind Power (LTWP). The wind farm, with a 310 MW capacity, has attracted the attention of investors interested in green energy projects.
- Farmshine has received 25 MM KES (246,694 USD) from US-based impact investor Gray Matters Capital (GMC) to expand operations. The funding will create an avenue where women farmers will be contracted with their farm produce sold at far much higher prices via the Farmshine platform.
- British sovereign wealth fund CDC Group has written off 97.4% of its 14.6 BN KES (144 MM USD) equity investment in ARM Cement, which collapsed under a load of debt.
- Standard Chartered Bank Kenya has put nine prime residential hotel apartments in Pangoni Beach Resort in Shanzu, Mombasa, under the auctioneers hammer over unpaid loans. The apartments are being sold for a reserve price of about 84.6 MM KES (834,813 USD) combined.
- Boat-rental platform GetMyBoat has expanded its network to include Kenya as it aims to tap into the growing marine-based tourism and the penetration of smartphones which has made it easier for people to access shared services. It has listed 93 boats in Kenya to date.
- AAR Insurance Kenya has been ranked as the most profitable underwriter in the country, paying the smallest fraction of premiums as claims from customers in the general insurance business. The firm's claims ratio was the lowest at 37.7% in Q2-2019, according to statistics from the Insurance Regulatory Authority (IRA).
- Namibia has been one of the most underexplored energy hotspots of Africa. Exxon Mobil recently acquired 7 million net acres to expand its exploration acreage in offshore Namibia. All of that is creating a wide range of opportunity for companies including Reconnaissance Energy Africa Ltd., Northern Oil & Gas Inc., Occidental Petroleum Corporation, EOG Resources Inc., and Exxon Mobil Corporation.