Great Lake Region: The Economic Impact of Burying the Hatchet


Friday, August 23, 2019   / 03:00PM / United Capital Research / Header Image Credit:


In East Africa's great lake region, several months of bad blood between Rwanda and Uganda, seem to have come to an end. This was as Presidents of both countries, alongside other affected countries, finally signed a pact in Luanda, Angola to ease the escalating tensions. Notably, the enmity had impacted neighboring economies - DR Congo and Republic of the Congo - negatively, due to the closure of an important commercial crossing in Feb-19.


According to news report, the two leaders have agreed to protect and respect the rights & freedoms of people residing or transiting through their respective countries. Also, they promised to resume cross-border activities including movement of persons and goods, as soon as possible.


In our opinion, the peace treaty, if holistically followed through by both leaders, is positive for long-term regional growth and provides an additional boost to high-flying Rwanda that recently posted an 8.4% GDP growth for Q1-19. However, we note that the agreement is still fragile in its current state and can be sent south, if one of the leaders is perceived to be unfaithful to the agreement. 



Top African Stories

  • Kenya Holds Population Census as Spending Pressure Climbs: Kenya is set to start a population census on Saturday amid mounting budget pressure in East Africa’s largest economy. Read more

  • Egypt raises Sinai investment by 75% in 2019-20: Egypt said on Thursday it would invest 5.23 billion Egyptian pounds ($315 million) in the Sinai Peninsula in fiscal 2019-20, a 75% rise on the year, in a venture officials say is intended to stabilise a region hit by violence from armed groups.  Read more 

  • Moody's sees budget cuts as option for South Africa to absorb Eskom costs:  South Africa is likely to absorb extra financial support for the struggling power utility Eskom with new revenue and expenditure measures in the next mid-year budget review, with departmental budget cuts an option, ratings agency Moody's said on Thursday.  Read more

  • Zambia determined to find another investor for Konkola mine - mines minister: The Zambian government is determined to "urgently secure" an investor for Konkola Copper Mines (KCM) once the court processes over the disputed liquidation of the mine are concluded, the mines minister said on Thursday. Read more

  • Egypt's Banque du Caire expects to sell minority stake by early 2020: The head of Egypt" state-owned Banque du Caire told reporters on Tuesday that he expects to sell 30-40% of the bank by the end of 2019 or in early 2020. Read more

  • Rwandan Central Bank Studying Ways of Issuing Digital Currency: The Rwandan central bank is looking into ways it could potentially issue its own digital currency to make the processing of transactions more efficient and to boost economic growth. Read more



Looking Forward

Egypt Jun-19

Production Index - August 30th

Jun-19 Trade Balance - August 31st



Jul-19 (CPI) Inflation - August  31st

Jul-19 Overseas Remittances - September 4th 



Q2-19 Trade Balance - August 27th 

Q2-19 Current Account - August 28th

Jul-19 Private Sector Credit - August 30th


South Africa

Jul-19 Private Sector Credit - August 30th

Jul-19 Trade Balance - August 30th 


Visit African Markets in Proshare MARKETS

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Related News

1.       Bank Of Ghana Revokes Licences of 23 Insolvent Savings And Loans Companies And Finance Houses

2.      Namibian MPC delivers Rate Cut Though Bolder Policies remain at Large

3.      Economic Reforms in Egypt and Slowing inflation, What Next for the Central Bank?

4.      New US-China Tariffs A Further Risk To Global Growth

5.      A Week to Remember, As The Fed Delivers on Rate Cut

6.      South Africa and Nigeria: A Similar Narrative

7.      IMF Sees Weaker Growth for the Global Economy; while ECB Holds Rate

8.     SSA Equity Market Outlook: At the Mercy of New Reforms

9.      UK Politics to Remain Volatile; No-Deal Risk Rises

10.  Sub-Sahara African Currencies Outlook in H2-19: …to mirror H1-19?

11.   Fed Will Only Cut Rates Once in 2019 – Fitch

12.  Frontier Economies See Lower Interest Rates

13.  In the Footsteps of Nigeria, South Africa Reappoints Apex Bank Governor

14.  Bank of England Publishes July 2019 Financial Stability Report

15.  Turkey Ousts Central Bank Chief Who Drew Ire for Holding Rates

16.  Is the West Africa Single Currency Ambition Feasible?

17.   The Sub-Saharan Africa Region

18.  Kenya joins the Group of Oil Producing Countries in Africa

19.  Moody’s Downgrades the Democratic Republic of Congo’s Rating to Caa1

20. Remarks By President Donald Tusk After The Euro Summit Meeting On 21 June 2019

21.  South Africa’s Q1-19 GDP Result: On the Way to Another Recession?

22. Togo Gets S and P’s ‘B and B’ Rating: To Join The Eurobond Bandwagon?

23. South Africa's Rand Continues To Tumble On Central Bank Worries

24. South Africa’s Economic Slump-A Huge Signal for Structural Reforms

25. No-Deal Brexit More Likely; Path Ahead Remains Unclear

26. Cabinet reshuffling in South Africa: Any lesson for Nigeria?

27.  London Cedes World’s Financial Centre Status To New York As Brexit Worries Weigh On The City

28. The USA-ChinaTrade War – A Ploy To Colonise China?

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Related News