M a r k e t N e w s

East Africa Upbeat About Economic Prospects for 2018

Posted on : Friday , 1st December 2017

An expansion in communications, transport and construction sectors is being eagerly expected by East African economies for the year 2018. 

Tanzania's economy is expected to expand by 7.1 per cent in 2018, up from an estimated 7 per cent this year and it’s Finance and Planning Minister Philip Mpango has vowed to boost public investment in infrastructure, including a standard gauge railway, new roads and expansion of seaports.

Meanwhile on various positive scales, EAC Secretary General Liberat Mfumukeko had received a $1.5 million grant with the African Development Bank towards the of the construction of a road between Masaka in Uganda to Kumunazi in Tanzania. Also the Tanzanian government plans to raise spending by 2.4 per cent to Tsh32.476 trillion ($14.50 billion) in next year's budget, with continued focus on public infrastructure investments and industrialization of the economy. "The government expects to borrow $600 million from external non-concessional lenders," Dr Mpango said.
Kenya on the other hand, trimmed its 2017 growth forecast from 5.5 per cent to 5 per cent. However,  Treasury Cabinet Secretary Henry Rotich said that agriculture in 2018 will be better than this year's and that is the reason growth looks optimistic, even as Kenya faces challenges on the investment side. The economy slowed down for the better part of the year partly due to the drought and its political uncertainty, credit growth slowed, and because of the capping of commercial bank lending rates last year. However, the instability is only temporary and long term outlook is still positive and mega infrastructure projects are set to take center stage. 
In Uganda, the economy grew by 3.9 per cent, which was below the projected 6.3 per cent. It is projected to grow by 5 per cent in 2018, according to a parliamentary report. Rwanda's 2018 growth on the other hand is projected to be in the "range of 6 per cent to 7 per cent," according to forecasts by the IMF. The Fund projected Rwanda's gross domestic product growth to 5.2 per cent this year from 6.2 per cent but predicted a pick-up in 2018. The downward revision follows weak growth in the first half of the year as a 2016 construction boom was not sustained. Finance Minister Claver Gatete said he expected the economy to be boosted by tourism, mining and rising prospects of oil exploration.

Source : Bizeconomy
Featured Companies
  • dubaiexporters.com

Complete List  

Advertisers in previous issue:

  • India
  • Arihant has evolved into a full range of children Playground equipment, Water Park Equipment, Amusement Rides as well as it owns and operates its own water park called
  • Provide the best effective ways to all Mineral, Gemstone, Jewellery and Fossil Companies to increase sales and expand business activities worldwide
  • Global Village Publishers East Africa Limited (GVP) is a locally incorporated communications company with the enviable reputation of a stickler for quality, innovation and creativity
  • Equipment & Tires that construct Africa
  • Westlink Electrical & Hardware Ltd. offers a complete line of Electrical Fittings, Switchgear, Power Tools, Lawnmowers, Electric Motors, Geared Motors, Generators Cables, Hardware Items. etc.
  • Products includes digital rim lock, architectural ironmongery, digital keyless, fire doors and wireless technology for online and offline door control
  • ACTION CONSTRUCTION EQUIPMENT LIMITED (ACE) is India’s leading material handling and construction equipment manufacturing company with over 54% market share in mobile cranes segment.
  • The 71 projects of the wood-furniture sector company operating in the market for interior doors
  • Road construction machinery
  • TechnoConstruct is poised to transform the construction sector in Kenya and Africa.
  • Mammoth civil engineering projects involving extended financial outlay and gigantic machineries are invariably undertaken by experienced companies whose track record in engineering expertise and an  estimable client portfolio not only commands respec
  • SINTER SUD has been manufacturing premium quality hard metal items, through modern technologies and innovative production processes.
  • Mantrac Kenya Ltd. is the sole authorized dealer for Caterpillar Products in Kenya.
  • Marble and Granite
  • KlipKlamp Mounts
  • Grundfos is a global leader in advanced pump solutions and a trendsetter in water technology.
  • Ceramic World Web is the first and only electronic magazine devoted to the entire ceramic industry production chain, from manufacturing through to distribution of floor and wall coverings and bathroom furnishing.
  • Manufacture a full line of Toilet Partitions, using a high pressure decorative laminate, phenolic core laminate, high density polyethylene plastic, powder coated steel, stainless steel and solid surface materials. We manufacture high pressure laminat
  • Egineering doors and solid doors
  • Bin Dhahi Trading LLC offers wide range of Items for the use of Building and Road Constructions, Industry, Safety for workers, Construction Chemicals, Power Tools, Hand Tools, Paints, Painting accessories, Adhesives, Abrasives, Water proof/Fire proof
  • TETRA STRUCTURE company acquired an international reputation for the design and realization of materials intended for the manufacture of concrete elements.
  • Nasco Trading L.L.C is a multi disciplinary Engineering Organisation operating in the United Arab Emirates since 1992, supplying Elevators and Door Operators and Barriers for the most prestigious buildings, Backed by complete.
  • Roadside Products Pty Ltd is the manufacturer and distributor of Dura-Post Guide and Marker Post Systems.
  • Stone,granite,Marble - International Stone Web
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2017 Afrotrade