“Researchers estimate that $69bn – more than half of the total official development assistance – is spent each year buying goods and services for development projects. But much of this money is “boomerang aid” – funds that flow to developing countries only on the books and may never leave the donor countries…” Read more.
Forbes’ inaugural list of the 40 Richest People in Africa is a testament to the growing global importance of the continent. Fortunes are being created everywhere from South Africa clear north to Morocco and Egypt in a diverse array of industries, by companies that cater to local tastes or worldwide needs. The combined wealth of the 40 richest is $64.9 billion – more than Thailand’s 40 richest (at $45 billion) but less than Taiwan’s (at $92.7 billion).
See the very interesting Forbe’s list here.
Dr. Madavo is a visiting professor to the African Studies Program at Georgetown University’s School of Foreign Service. He also serves as the Founding Director and Chairman of the Management Committee of Centennial Group Africa, a policy advisory firm which consults with governments and multi-national companies. This week, he sat down with The Independent’s Rohan Patnaik to discuss the current state of Africa.
Read about it here.
Rwanda is emerging unscathed from economic turbulence that has left economies of its larger neighbors battered by high inflation and weak local currencies, on account of its fiscal discipline, growth in manufacturing and household enterprises.
“This resilience is a result of sound macroeconomic management in times when regional and global shocks are having adverse consequences for many neighboring countries” said Johannes Zutt, World Bank Country Director for Rwanda.
Carter Crockett, Partner, and Dan Klinck, Lead Consultant, recently returned from Burundi and the Democratic Republic of Congo where they were working on behalf of a Kenyan client who is considering investing in agri-business in the Great Lakes Region. When queried, a few of the leading chicken farmers in the region were unwilling to divulge the number of chickens they raise. Market research is challenging when businesses are unwilling to share information due to fear of government or some other private sector player’s nefarious interference in their business.
As the country develops, it continues to implement strategies and processes that encourage foreign direct investment. Karisimbi Partners is the best equipped company in Rwanda to connect foreign investors with investment opportunities and offers an array of critical foreign investor services, including opportunity identification, due diligence, valuation, and capital raising. Read more about our foreign investor services here.
Click here to read the article.
Karisimbi Partners’ Dano Jukanovich joined a small gathering of US business leaders at the US Ambassador’s residence in Rwanda this week, where he participated in and honest and encouraging discussion with Susan Rice, US Ambassador to the UN, that covered a range of topics from business to politics. Dano was able to lobby for international economic support for Rwanda and the region that goes beyond aid and food security to include those value chains that will create the greatest short and long-term economic and social returns on investment.
Susan Rice later toured the country and gave a speech at the Kigali Institute of Science and Technology – read more about here visit here.
The African Development Bank (AfDB) and the Bank of Kigali have signed a $12 million line of credit and a $500,000 grant agreement for technical assistance from the Fund for African Private Sector Assistance (FAPA). AfDB says the credit will improve the Bank of Kigali’s liquidity and improve the ability to support key economic sectors, such as infrastructure, manufacturing, agri-business and tourism… read more
Lakeside Fish Farm in Rwanda will be the largest, most technologically advanced and environmentally sensitive fish farm in the region. Just this week Karisimbi Partners secured additional funding from a US investor for the continued development of Lakeside Fish Farm in Rwanda. Lakeside’s first round of 1M USD is now 85% subscribed.
Follow the link to take a peek at Lakeside’s website (prospective investors can email Karisimbi Partners for the website password to explore the site more thoroughly).
Karisimbi Partners engages Western investors and Africa-based funds including the Tony Elumelu Foundation, referenced in this article, in order to support businesses in the region.
Follow the link to read the article: Tycoons put a professional veneer on business of giving.