A sovereign credit rating is an independent assessment of a country’s creditworthiness S&P Global Ratings has upgraded Rwanda’s long-term sovereign credit rating to ‘B+’ from ‘B’, and maintained its outlook at “stable”. “The outlook is stable because we expect Rwanda will continue to achieve above-average real GDP growth over the medium term, balanced against risks of fiscal slippages and rising government debt,” according to S&P. The firm says Rwanda has demonstrated strong GDP growth and above-average growth trends per capita than peers. “We expect high growth will be driven primarily by public investment, which will likely result in sizable fiscal…
Author: Khusoko
Khusoko
Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.
The Kenyan real estate market despite being in distress, its performance will be cushioned by increasing investment by international players, growth of infrastructure according to Cytonn Investments. “Which is bound to continue driving real estate investments to satellite towns, and growth of middle-income earners creating demand for real estate,” Cytonn projects. Cytonn says more developers are opting for mixed-use development (MUD) projects which, “Create operational synergy across the various themes as they complement each other, thus boosting the performance and returns to investors.” According to its MUD Report 2018, MUDs encompassing office, retail, and residential themes registered an average rental…
Diageo Plc said it will spend £180m ($220m) in green energy and water recovery solutions to ensure its breweries are the most carbon and water-efficient possible. “We believe this is one of the biggest single investments in addressing climate change issues across multiple sub-Saharan markets. We have a responsibility as a local manufacturer and employer in Africa to grow our business sustainably–creating shared value-and this significant investment continues our work to provide sustainable solutions for our local supply chains,” Ivan Menezes, Diageo’s CEO said. The company said it will switch to renewable energy at three brewery sites in Kenya and…
East African Portland Cement has withdrawn notice that declared all its 800 staff redundant. The firm on Friday said it would issue another statement on the restructuring process. ”We make reference an announcement on the notice on intended restructuring and staff rationalisation issued on August 7. We wish to bring to your attention that the said notice has been withdrawn,” the firm’s Acting managing director said in a notice Friday. “A fresh replacement notice on the intended company restructuring and staff rationalization shall be circulated in due course,” the letter said.
East African Breweries Limited (EABL) on Thursday rewarded winners for its Got Skillz talent competition. Elvis Otieno Atieno, a third-year Film and Animation student at Multimedia University in Nairobi, received Ksh. 1 million for the logo that he designed. The logo will be refined into a final version, which will become the new logo for East Africa’s largest beverage company. Other winners include John Nyambura, the 1st runners up, Wiptem Creators team Patricia Nkirote and Teddy Sananga the 2nd runners up. https://twitter.com/EABL_PLC/status/1159749461222051840 EABL’s Got Skillz competition was an East Africa-wide competition and submissions were sought from young creatives between the…
Huawei Technologies has unveiled Harmony OS, a smartphone operating system that would Google’s Android OS. “HarmonyOS 1.0 will be first adopted in its smart screen products, which are due to launch later this year. Over the next three years, HarmonyOS will be optimized and gradually adopted across a broader range of smart devices, including wearables, Huawei Vision, and head units for your car,” read part of press release. https://twitter.com/HuaweiMobile/status/1159729819791351808