ARC East Africa Weekly Chronology
6-12 June 2024

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Africa Risk Consulting monitors events around the region and provides users of the EAA website with this weekly summary.


Weekly Update on events in East Africa

Africa Risk Consulting – Your first choice for Africa due diligence, country assessments, strategic advice and compliance consulting.

12 Jun 2024 Bujumbura (Burundi) CAJ News Africa. Fuel shortages persist across the country with officials saying it remains unclear how long the shortage may last;

12 Jun 2024 Nairobi (Kenya) Moneyweb. Cabinet approves a plan to sell the government’s shares in six listed companies, including East African Portland Cement, Nairobi Securities Exchange, HF Group, Stanbic Holdings, Liberty Kenya Holdings and Eveready East Africa;

11 Jun 2024 Bujumbura (Burundi) Brussels Times. Belgium renews its development cooperation with Burundi, committing €75m ($80.63m) over the next five years to support agriculture, health and education;

11 Jun 2024 Djibouti (Djibouti) Freight News. Djibouti rejects the World Bank’s latest port ranking index that saw it drop from 29th in 2022 to 379th in 2023, calling the drop of 350 places “absurd”;

11 Jun 2024 Addis Ababa (Ethiopia) Reuters. Finance minister Ahmed Shide announces the 2025 fiscal year budget, set at $17 billion, 21% higher than the current fiscal year, and forecasts a budget deficit of 2.1% of GDP in the next fiscal year alongside strong growth of 8.4%;

11 Jun 2024 Nairobi (Kenya) CNBC Africa. International Monetary Fund (IMF) reaches a staff-level agreement with Kenya, allowing for the disbursement of $976m;

11 Jun 2024 Dar es Salaam (Tanzania) IPP Media. The National Bureau of Statistics (NBS) reveals that the annual headline inflation rate for May stagnated at 3.1%, the same level recorded in April;

10 Jun 2024 Kinshasa (DRC) Africanews. An army spokesperson confirms that Allied Democratic Forces (ADF) rebels killed at least 80 people in two attacks on 4 and 7 June;

10 Jun 2024 Kinshasa (DRC) Mining Review. Canada Rare Earth signs a supply agreement with Simba Essential Minerals, a wholly owned subsidiary of Canada Rare Earth and state-owned SAKIMA SA, bolstering its supply chain of rare earths;

10 Jun 2024 Nairobi (Kenya) Kenya Wall Street. Norwegian investment fund Norfund has pledged $307m towards several e-mobility projects in Kenya;

10 Jun 2024 Kigali (Rwanda) New Times. RwandAir Cargo launches new services to Dubai and Djibouti;

10 Jun 2024 Dar es Salaam (Tanzania) Punch. Tanzania Investment Centre board chairman Dr Binilith Mahenge calls on Nigerian investors to explore business opportunities in Tanzania;

9 Jun 2024 Dar es Salaam (Tanzania) The East AfricanKenya and Tanzania have struck a power-sharing deal to co-chair the African Group of Negotiators (AGN) for two years as they lead Africa climate negotiations, with Kenya leading the AGN in 2024-2025 during COP29 in Baku (Azerbaijan) later this year, and Tanzania taking over for the 2025-2026 period;

8 Jun 2024 Addis Ababa (Ethiopia) Anadolu Agency. United Nations Food and Agriculture Organization (FAO) says nearly 13 million Ethiopians are in dire need of agricultural assistance;

7 Jun 2024 Kigali (Rwanda) BBC. National Electoral Commission says opposition candidate Diane Rwigara did not submit the correct documentation to show she had no criminal record and has been barred from running in the July presidential election, the second time she has been barred from running;

6 Jun 2024 Kinshasa (DRC) News24. DRC confirms that 53 men, including three United States citizens, will appear in a military court on 7 June in connection with last month’s failed coup;

6 Jun 2024 Kampala (Uganda) New Vision. Foreign affairs minister Odongo Jeje Abubakhar meets with Burundi’s ambassador to Uganda, Jules Ndihokubwayo, to discuss bilateral relations;

5 Jun 2024 Addis Ababa (Ethiopia) Zawya. Saudi Arabia and Ethiopia establish a joint Saudi-Ethiopian Business Council in a bid to advance economic cooperation between the two countries;

5 Jun 2024 Nairobi (Kenya) The East African. Central Bank of Kenya (CBK) holds its benchmark lending rate at 13% stating that inflation, which increased slightly to 5.1% in May, is stable and within its near-term target band;

5 Jun 2024 Dar es Salaam (Tanzania) All Africa. The Stop EACOP Coalition strongly condemns the ongoing harassment and intimidation of people affected by the East African Crude Oil Pipeline (EACOP) in Tanzania after Tanzanian authorities arrested and detained five people, including a community leader, for talking to journalists about their fears of poor compensation and police intimidation linked to EACOP projects;


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ARC East Africa Weekly Chronology 6 – 12 Jun 2024_