info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Photo from Online
According to the prediction of Ecobank, East Africa, as one of the most active commercial and economic regions in Africa, would keep a contained and sustained economic growth.
Ecobank Kenya Managing Director and Regional Executive of Central, Eastern and Southern African (Cesa) Samuel Adjei said the region looks set for continued and sustained economic growth, assisted by commodity prices and the prospect of significant oil production.
Ethiopia, Kenya, Tanzania and Uganda are enjoying a period of significant economic growth with their GDPs forecast to grow between 5.2 per cent and 8.5 per cent this year.The region's tech hubs are also spurring the next generation of disruptors.
"The region is a world leader in disruptive fintech, illustrated by the resounding success of mobile money and Kenya, together with Rwanda, Tanzania and Uganda, represent a regional powerhouse for global commercial services," said Mr Adjei.
"Consumers in countries such as Kenya have been transacting by mobile for more than a decade and we are now seeing East African tech hubs in Nairobi, Kigali and Kampala take a leadership role in developing innovations to address long-standing African challenges. It's an exciting time for East Africa," Mr George said.
This is supported by ongoing reforms and the improvement in commodity prices which has driven up export revenues.
Much of the region is reliant on agricultural crops and commodities for export earnings, but continued economic optimism looks assured.
