Week Highlights

• 16 Public Institutions to be merged and four to be abolished.

The government of Tanzania has undertaken a restructuring initiative involving the merger of several institutions and the cancellation of others. Read More

• Somalia is ready to formally commit to the signing of the East African Community (EAC) accession treaty.

Somalia is on the verge of becoming a full member of the East African Community (EAC). The recent signing of the Accession Treaty marks a significant step towards integration. Read More

• Kenya scraps visa requirement, bringing Africa’s dream of visa-free travels closer to reality.

Kenya, joining Seychelles, Benin, and The Gambia, lifts visa restrictions for all African nationals. President William Ruto's vision of a visa-free continent sees fruition on Jamhuri Day, marking Kenya as the fourth African country to implement this policy after Seychelles, Gambia, and Benin. Read More

• South Sudan launches National Export and Investment Strategy

South Sudan launches a five-year National Export and Investment Strategy in Juba, envisioning a sustainable, diversified economy for inclusive development. Read More

• Somalia secures $4.5 billion debt relief deal with international creditors.

Somalia secures a $4.5 billion debt relief deal from the IMF and World Bank, part of the Heavily Indebted Poor Countries initiative. This agreement reduces Somalia's external debt from 64% of GDP in 2018 to less than 6% by the end of 2023. Read More

• Tanzania to boost fuel storage capacity, aiming for stability and savings.

The existing infrastructure has been in use since the establishment of BPS, when the amount of fuel being imported per month was an average of 200,000 to 250,000 tones. Read More

• Africa Development Bank approves 696.41 million financing Burundi and Tanzania rail infrastructure.

USD 696.41 million in funding, including USD 98.62 million in grants for Burundi and USD 597.79 million in loans for Tanzania, will support the development of an electrified standard gauge railway across three segments, fostering regional connectivity and economic growth. Read More

• World Bank provides $250m to help Kenya make state spending more transparent.

President William Ruto's administration secures additional international funding as the World Bank approves a $250 million credit on November 29. The funding is designated to enhance the Kenyan government's management of state funds. Read More

SADC COUNTRIES

• RMB's Top 10 Investment-Attractive African Countries

South Africa's Rand Merchant Bank (RMB) unveils its list of top 10 investment-attractive countries in Africa, catering to investors eyeing real assets and businesses reliant on robust physical infrastructure. Read More

• Fund Inflows Surge in South Africa: Absa's New Gold Platinum ETF Leads the Way

South Africa sees a substantial increase of 761 million rand ($40 million) in fund inflows this month, with investor interest notably directed towards Absa Bank Ltd.’s New Gold Platinum ETF. Read More

• AfriNext Conference Seeks to Bridge African Markets and Western Investment

AfriNEXT, hosted by the Atlantic Council and DAI, highlights the call for investment in African markets, emphasizing the significance of directing investments and partnerships towards the continent. Read More