The East African Insider – Week 22nd – 28th November 2025

Introduction

East Africa is buzzing with new investment opportunities this week that present significant opportunities for investors. In Uganda and Tanzania, major industrial and agro-industrial projects are set to boost regional growth, including the USD 500 million Devki Mega Steel plant in Tororo and a USD 24.6 million AfDB-backed investment in Mohammed Enterprises Tanzania Limited to expand tea, sisal, and macadamia production. Kenya's economy shows renewed momentum with a 4.9% growth forecast driven by a rebound in construction, while Rwanda strengthens its position as a premier hub for investment fund domiciliation through the Kigali International Financial Centre. The region's energy landscape also moves forward as the East African Court of Justice clears legal hurdles for the USD 5 billion EACOP oil pipeline connecting Uganda and Tanzania. Beyond East Africa, Somalia launches a new African Development Bank strategy to improve infrastructure and economic governance, and the Democratic Republic of Congo attracts a USD 21 billion investment pledge from Qatar across agriculture, mining, finance, and infrastructure. Collectively, these developments signal a growing investor-friendly climate and highlight East Africa's emergence as a strategic destination for regional and global investment.

Trend of the week

EACJ clears legal hurdle for USD 5 billion East African oil pipeline

The East African Court of Justice (EACJ) has dismissed one of the final legal challenges against the EACOP project, clearing the way for the USD 5-billion oil pipeline to proceed toward completion and commissioning next year. The challenge was filed by a group of nongovernmental organisations concerned about environmental and social risks but the court ruled the case invalid on procedural grounds because it was filed outside the deadline set by the treaty. With this legal hurdle gone, the 1,443-kilometre pipeline that will carry crude oil from oilfields in western Uganda to the coast of Tanzania appears ready to move forward as planned. For investors this development is significant. With the EACOP project now legally cleared, the pipeline represents one of the largest cross-border energy infrastructure ventures in East Africa promising major demand for services, materials, logistics, and support industries. The progress improves the region's attractiveness for foreign direct investment in energy supply, export infrastructure, and associated sectors making EACOP a potentially high-impact opportunity for investors seeking to tap into East Africa's energy and infrastructure boom.

Tanzania

USD 24.6 million AfDB investment signals agro-industrial opportunities in Tanzania

The African Development Bank has approved a USD 24.6 million senior corporate loan to Mohammed Enterprises Tanzania Limited (MeTL) to revitalize and expand Tanzania's agro-industrial production. The project will rehabilitate aging tea estates, convert over 1,000 hectares into organic plantations, upgrade processing factories, establish 15,000 hectares of sisal plantations, and create a 200-hectare macadamia plantation. It will also strengthen rural infrastructure, modernize machinery, and enhance value chains linking smallholder farmers—especially women and youth—to regional and global markets. The initiative is expected to create over 1,400 jobs, generate USD 10 million annually in new export earnings, and contribute approximately USD 36 million to fiscal revenues. This investment signals growing opportunities in Africa's agro-industrial sector, highlighting Tanzania's commitment to sustainable, inclusive growth and the potential for partnerships that combine profitability with social impact.

Kenya

Kenya's 4.9% growth projection unlocks new investment prospect

The World Bank has raised Kenya's 2025 economic growth forecast to 4.9%, up from its earlier estimate of 4.5%, citing a strong rebound in the construction sector. After a challenging period marked by fiscal concerns and stalled projects, Kenya's construction industry has regained momentum, offsetting a slowdown in manufacturing and signaling broader economic recovery. The report highlights that while risks remain from global trade uncertainty to fiscal consolidation pressures, the country is stabilizing through reforms aimed at boosting competition and improving the investment climate. With over 200 state-owned enterprises distorting market dynamics and restrictions on foreign investment still in place, the World Bank urges regulatory reforms to unlock Kenya's full economic potential. For foreign investors, the upgraded growth outlook signals renewed confidence in East Africa's largest economy, presenting opportunities in construction, infrastructure, finance, and value-chain development as the environment becomes more competitive and investment-friendly.

Uganda

Uganda launches USD 500 million Devki mega steel plant in Tororo

On 23 November 2025, Uganda's President Yoweri Museveni and Kenya's President William Ruto launched the construction of the USD 500 million Devki Mega Steel plant in Tororo, eastern Uganda, near the Kenyan border. The facility, financed by Kenyan industrialist Narendra Raval and built by the Devki Group, is set to produce 1 million tonnes of steel annually, generate 15,000 jobs at start-up, and 20,000 by 2027, creating employment opportunities across the East African region. The project is a major step toward regional industrialisation, strengthening value chains, reducing dependence on imported steel, and positioning Uganda as a potential net exporter. The plant signals a favourable environment for industrial and infrastructure investment, highlighting Uganda's commitment to value addition, regional trade integration, and industrial self-reliance, while opening opportunities in steel production, supply chains, and related sectors.

Rwanda

Kigali emerges as a competitive destination for global investment vehicles

Rwanda is accelerating its ambition to become Africa's premier destination for investment fund domiciliation, building on a rapidly maturing capital market ecosystem that is drawing the attention of regional and global fund managers. During a high-level industry session themed "Scaling Rwanda as a Flagship Domiciliation Hub for Africa's Investment Vehicles," financial sector stakeholders examined the country's growing competitiveness as a credible jurisdiction for fund domiciling. Speaking on the panel, KAREKEZI Ngabonziza (Eric), Head of Market Development at the Capital Market Authority, highlighted Rwanda's key strengths: a robust and transparent legal framework, strong macroeconomic stability, and a deepening pool of specialised financial service providers. He noted that the Kigali International Financial Centre (KIFC) continues to enhance investor confidence by offering world-class fund administrators, custodians, auditors, and legal experts, ensuring Rwanda is fully prepared for complex investment structures. KAREKEZI also underscored the need to mobilise more domestic capital from pension funds, insurance firms, and retail investors to reinforce market depth and signal long-term stability to international investors. As Rwanda positions its capital market as a platform for inclusive growth, its commitment to a well-regulated, resilient financial ecosystem strengthens its case as a strategic domicile for Africa-focused funds and cross-border investment vehicles.

Democratic Republic of Congo

Qatar unveils USD 21 billion investment push into the DRC's high-growth sectors

Qatar has announced plans to invest USD 21 billion dollars in the Democratic Republic of Congo with a focus on agriculture, finance, mining and banking. The commitment was revealed at the end of a historic tour of the Great Lakes region by the Emir of Qatar Sheikh Tamim Ben Hamad Al Thani who met President Felix Tshisekedi and signed a wide range of cooperation agreements covering ports, sports and other strategic sectors. His visit followed earlier talks in Rwanda with President Paul Kagame and builds on a strategic partnership signed in September between Congolese Prime Minister Judith Suminwa and Sheikh Almansour Bin Jabor Bin Jassim Al Thani. According to the Qatari delegation the investment budget reflects a long term plan to deepen bilateral cooperation and create a mutually beneficial partnership. Qatar praised the DRC as a land of opportunity and emphasised that the investments are meant to support national development while also serving Qatar's strategic interests. The partnership extends to fisheries, livestock, the environment, waste management, public health, the pharmaceutical industry, vocational training, infrastructure, cybersecurity, hydrocarbons and refining. Security issues were also discussed as the Emir's visit came at a time when Doha is mediating between the Congolese government and the M23 rebels in eastern Congo and when tensions between the DRC and Rwanda remain a central concern.

Somalia

New AfDB strategy opens doors for investors in Somalia's emerging economy

Somalia is navigating a fragile yet promising transition, driven by improved security, expanded political dialogue, and renewed reform momentum. However, the country continues to face structural challenges, including a large infrastructure deficit, climatic shocks, macroeconomic imbalances, high private sector financing costs, and limited institutional capacity. At this critical juncture, the African Development Bank has unveiled its Somalia Country Strategy Paper (CSP) 2025–2030, a roadmap to strengthen state institutions, expand sustainable infrastructure, and accelerate inclusive economic growth. Over the next five years, the Bank will focus on energy, transport, and water and sanitation, alongside economic governance reforms to improve transparency, revenue mobilization, and institutional capacity. For foreign investors, the CSP signals an increasingly supportive environment, with stronger institutions, improved infrastructure, and targeted reforms creating new opportunities to engage in Somalia's growth sectors and contribute to long-term development.

Upcoming events

Super Return Africa 2025

Date: 2–4 December 2025

Venue: The Westin, Cape Town, South Africa

Agenda: A three-day gathering of 700+ senior private capital leaders to explore the future of Africa's private markets, covering fundraising, exits, private credit, infrastructure, and high-growth frontier sectors.

How to register: Use the link provided to book your spot- https://tinyurl.com/bdh5w7xc

Who should attend:

• General Partners (GPs) and Limited Partners (LPs) active in African private capital
• Institutional investors and development finance institutions
• Private credit, infrastructure, venture capital, and growth equity professionals
• Fund managers exploring alternative structures or frontier asset classes
• Government, pension fund, and policy stakeholders shaping Africa's investment landscape

Key features:

• 700+ senior attendees, including 350+ GPs and 200+ LPs
• Insights from leaders at institutions such as the Public Investment Corporation, GIPF, DFC, EBRD, and others
• New in 2025:

Private Credit Summit

Alternative Fund Structures Track

"For Africa's Future: Intent to Impact" thematic program

• Deep dives on fundraising trends, exit strategies, infrastructure, private credit, and frontier sectors including music, gaming, and IP
• High-value networking with Africa's most influential private markets decision-makers

Opinion of the week

"Africa represents the most dynamic growth story of the next three decades. Investors who step in now position themselves to ride demographic expansion, urbanization, and digital transformation. The returns will reward those prepared to think long-term."- —Professor Kevin Chika Urama, Chief Economist, African Development Institution

Conclusion

East Africa continues to demonstrate resilience, innovation, and strategic growth across multiple sectors. From large-scale infrastructure projects and industrial expansions to financial market developments and cross-border investment initiatives, the region is steadily positioning itself as a hub for sustainable and inclusive economic growth. For investors, these developments signal not only emerging opportunities across energy, manufacturing, agriculture, and finance but also a commitment by governments and regional institutions to create a more conducive, transparent, and competitive investment environment. Staying informed and engaged now allows investors to capitalize on East Africa's momentum and be part of the region's transformative growth story.

Resources

1. The East African (2025)

https://www.theeastafrican.co.ke/tea/business-tech/eac-court-clears-way-for-regional-pipeline-project-5278472

• African Development Bank (2025)

https://www.afdb.org/en/news-and-events/press-releases/african-development-bank-approves-24-million-advance-private-sector-led-agro-industrial-growth-tanzania-88918

• Reuters (2025)

https://www.reuters.com/world/africa/world-bank-lifts-kenyas-growth-forecast-construction-sector-optimism-2025-11-24

• Ecofin agency (2025)

https://www.ecofinagency.com/news-infrastructures/2611-50856-uganda-and-kenya-break-ground-on-500-million-devki-mega-steel-plant

• Capital Market Authority (2025)

https://www.cma.rw/index.php?id=49&tx_news_pi1%5Bnews%5D=429&tx_news_pi1%5Bday%5D=25&tx_news_pi1%5Bmonth%5D=11&tx_news_pi1%5Byear%5D=2025&cHash=b466b029cf09d6161083d354ba046b85

• MSN (2025)

https://www.msn.com/en-xl/africa/top-stories/qatar-to-pump-21bn-in-congo-as-emir-wraps-up-great-lakes-tour/ar-AA1R7NuC

• African Development Bank (2025)

https://www.afdb.org/en/news-and-events/press-releases/african-development-bank-unveils-new-country-strategy-paper-somalia-boost-infrastructure-build-resilient-and-competitive-economy-inclusive-growth-88944

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