Economy & Business News in Africa

  • Pension fund investments in alternative asset classes such as private equity rose by a fifth in the first half of this year to cross the KES 1 billion (approx. USD 9.2 million) mark for the first time in search of returns in a difficult environment caused by the Covid-19 outbreak. https://bit.ly/2F1kGWV
  •  The COVID-19 pandemic has had a severe economic impact on Rwanda through the implementation of strict domestic measures to contain the spread of the virus and the related global spillovers. The authorities have responded by rolling out health and economic measures totaling USD 311 million, 3.3 percent of GDP, to mitigate the economic fallout on businesses and households. https://bit.ly/2SoHgvI
  • Entebbe International Airport received 12 commercial passenger flights on October 1, 2020, the first day of reopening the airport, after a six months lull. The incoming flights include Turkish, RwandAir, Ethiopian Airlines, Emirates, Tarco Air and FlyDubai, among others. https://bit.ly/3jvQsul
  • Germany targets Africa for trade, investment where Investment and business climate, available workforce and access to markets, and transport, energy and technological infrastructure are the key success factors to drive Africa’s development. https://bit.ly/34q4s2f
  • Kenya is among 13 African countries that have entered into a digital deal to ease movement of goods across the continent. The countries have jointly activated the Regional Customs Transit Guarantee Scheme that allows free movement of goods among signatories to the platform. https://bit.ly/3liq5IN
  • Income tax, value-added tax and sales levy cuts imposed to cushion workers, households and businesses against the Covid-19 pandemic have been extended beyond December even as bars are allowed to resume operations as part of phased re-opening of the economy. https://bit.ly/3cXovJc
  • The Central Bank of Kenya is set to hold its monetary policy meeting today, setting the direction for the country’s financial sector as the economy continues to recover following months of difficulty occasioned by the Covid-19 pandemic. https://bit.ly/2GtaZkT
  • The World Bank has signed an agreement this week with the Government of Ethiopia to grant the Eastern African country USD 80 million. The deal is signed between the Ministry of Finance of Ethiopia and the World Bank aimed at supporting the completion of projects started during the second phase of Agricultural Growth Program. https://bit.ly/3ni9Fll
  • Pension fund investments in alternative asset classes such as private equity rose by a fifth in the first half of this year to cross the KES 1 billion (approx. USD 9.2 million) mark for the first time in search of returns in a difficult environment caused by the Covid-19 outbreak. https://bit.ly/2F1kGWV