Top Business News In East Africa

Top Business News In East Africa

KENYA 

 The World Trade Organisation has partnered with the Common Market for Eastern and Southern Africa to harmonise standards with a view to increasing market access of agricultural produce in the region. Kenya is second after Uganda to start implementing the project whose inception meeting and high-level stakeholder dialogue will take place this week in Nairobi. (Read the full article here: http://bit.ly/2NpGz5R) 

* African Guarantee Fund (AGF) has set aside USD 170 million to back Kenyan bank lending to small and medium-sized enterprises (SMEs) through a scheme that will insure the lenders against defaults. AGF typically guarantees half of the value of a loan balance to a single SME borrower or half the value of an outstanding SME loan portfolio and charges banks a fee of between 1.5 percent to three percent for the risk guarantee. (Read the full article here: http://bit.ly/2KQvIzO) 

* Investors will from next Thursday be able to enter into quarterly contracts to buy or sell shares on seven blue-chip counters at specified prices to be paid at agreed future dates. (Read the full article here: http://bit.ly/2RI0Th2) 

* Investors in the international debt market have significantly lowered their risk rating of Kenyan bonds, opening room for the Treasury to borrow more aggressively at a friendlier price. (Read the full article here: http://bit.ly/2YrHrIe) 

RWANDA 

* Rwanda Development Board has revealed plans to revise the current investment code in order to meet set investment targets from both local and foreign companies registering in Rwanda. (Read the full article here: http://bit.ly/2YnzkMI) 

* President Paul Kagame in the first visit to Madagascar has said that the meeting with his counterpart Andy Rajoelina was a good opportunity to discuss businesses between both countries. (Read the full article here: http://bit.ly/2Xfg5s6) 

TANZANIA 

* The Treasury Bills floated on Wednesday, 26 June 2019 by the bank of Tanzania attracted a low investor turnout. (Read the full article here: http://bit.ly/2Jhp3v5) 

* Efforts to replace charcoal with liquefied petroleum gas (LPG) for domestic use got a big boost this week with the commissioning of a USD 65 million LPG storage and filling facility in Dar es Salaam.  

UGANDA 

* President Museveni has said leaders must understand that partnerships around trade facilitation will ensure global prosperity of nations. He further added that mutual support around trade must include infrastructure development such as roads, railway, electricity, ICT backbone, and trained manpower. (Read the full article here: http://bit.ly/31ZjERY) 

* French-based supermarket, Carrefour, is in the final stages of opening two stores in Kampala. 

The two stores, operated under the Majid Al Futtaim franchise, will be established in spaces formerly occupied by Nakumatt at Oasis Mall in Kampala and Metroplex Mall in Nalya, on the outskirts of Kampala. (Read the full article here: http://bit.ly/2X9kY12)