While other regions were bowing to the global decline in investments in 2017, East Africa defied the odds. The region registered an increase of 11% in investments in 2018, up from the previous year. Eastern African countries have recorded a consistent GDP averaging 7% per annum and attracted steady investments worth $75.5 billion, which have led to the development of over 700 projects and more than 100,000 jobs. The wider Eastern Africa region is worth $265 billion. Sectors which are of great interest to investors include Diversified Industrial Products (DIP) including minerals, oil, and gas; renewable heating and cooling; manufacturing; chemicals and automotives; and power and utilities. Cross-border mergers are especially raising investors’ faith in the region as they are a signal of regional agreements which is equal to a healthy business environment. Read the full article at The East African.
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East Africa is among the most attractive investment destinations in Africa. Kenya leads, thanks to political reconciliation and consistent consumer demand. Tanzania also presents several conditions which act as incentives for investors. These include tax breaks by the government, infrastructural investments, development of special economic zones, and growth in its services sector. Investors are keen on Ethiopia as well— the world’s fastest-growing economy. The country continues to register growth in agriculture and manufacturing and an increase in demand for goods and services which is significant, considering its population of about 100 million people. Rwanda is also doing well as the government has made many investments in domestic industries. Its business environment is two times more efficient than it was less than a decade ago.
Want to invest in Eastern Africa? Read more about top East African countries to invest.