Tanzania will ease controls on foreign ownership of its stocks and bonds by next year as the country seeks to attract investment to finance infrastructure projects that will cost billions of dollars, President Jakaya Kikwete said.
Kenya plans to set up a sovereign wealth fund to invest revenue from future output of oil that Tullow Oil Plc and Africa Oil Corp. expect to start pumping as soon as 2016, central bank Chairman Mbui Wagacha said.
Which continent is home to six of the world’s 10 fastest-growing economies and is projected to grow by 5 percent in 2013, more than twice the U.S. rate? And which one gets only 1 percent of U.S. foreign direct investment?
Tanzanian President Jakaya Kikwete said his country remains committed to the five-nation East African Community even after it was excluded from recent key meetings, though he warned against fast-tracking integration.