East African nations have maintained their attractiveness to foreign investments, taking the shine from Africa’s largest economies such as South Africa and Nigeria, which continue to falter economically.
Source: The Exchange
Bolstered by increasing investments in infrastructure such as roads, rail, energy, ports and airports, the East African nations of Kenya, Tanzania, Uganda and Ethiopia have enjoyed growth rates of at least 5 per cent over the past decade. Findings in oil and gas have added an impetus to their growth prospects.
Analysts have projected a growth forecast of 5.9 per cent in 2018 on average and 6.1 per cent in 2019. The region registered an average growth rate of 5.6 per cent in 2017 (making East Africa the fastest growing sub-region) and 4.9 per cent in 2016.