Why East Africa?

Economically, East Africa is one of the fastest growing regions in the world with GDP growth rate significantly faster than the emerging market and Sub-Saharan Africa average. Statistics for 2021 show that three of our six focus countries were in the Top 10 fastest growing economies in Africa.

The six countries in which we operate in have a population of over 215 million people, and a combined GDP of USD $265 billion, giving an average combined GDP per capita of just over USD $1,200. This relatively low GDP per capita combined with the relative high GDP growth rate means that there are many opportunities to engage in profitable businesses that are worthwhile looking at ESG (Environmental, Social, Governance) factors, which are so important for business and investor decision making in this day and age and contribute towards the 17 Sustainable Development Goals and improve peoples’ lives.

Kenya, Malawi, Rwanda, Tanzania, Uganda and Zambia comprise an area of 2,661,176 sq km, which is slightly larger than the land area of Germany, UK, France, Italy, Spain, Netherlands, Switzerland, Sweden, Poland and Belgium (the ten largest economies whose borders are entirely within the continent of Europe) combined.

These European countries have a combined population more than double that of our target countries, but while population growth is stagnating across Europe, populations are growing rapidly in our focus countries who have a combined median age of 18.

Emerging markets have much lower correlation to global economic events than developed markets, so economic shocks such as the war in Ukraine, COVID-19 and the 2008 Financial Crisis affect the market to a much lesser degree, meaning that having business interests in East Africa or a region with similar characteristics is a sensible choice for businesses and investors looking to diversify risk.