Introduction
Africa’s investment landscape is entering a defining phase as the continent shifts from reliance on external capital to unlocking its own financial strength, creating new pathways for growth, industrialisation, and long-term value creation. This week’s developments across East Africa highlight a clear and consistent trend: governments are not only strengthening policy frameworks and investor protections, but also accelerating large-scale infrastructure, energy, and industrial projects while deepening regional integration. From Tanzania’s push to improve transparency and fast-track PPPs, to Kenya and Uganda’s expanding energy partnership, and Rwanda’s strategic move into advanced technologies, the region is positioning itself as a more coordinated, investment-ready market. At the same time, industrial expansion in Uganda, agricultural transformation in the Democratic Republic of the Congo, and Somalia’s pipeline of bankable projects all point to a continent increasingly focused on execution, value addition, and private sector-led growth. For investors, this signals a shift from isolated opportunities to interconnected, system-driven markets where capital can be deployed at scale alongside rising domestic investment capacity.
Trend of the week
Africa’s USD 2 trillion domestic capital signals new era for investment and growth
Africa’s domestic capital base has reached a historic turning point, now surpassing external financing flows and redefining how the continent funds its growth and industrialisation, according to the 2026 State of Africa’s Infrastructure Report by Africa Finance Corporation. The report reveals that while cumulative external financing totalled approximately USD 1.7 trillion between 2014 and 2024, Africa’s non-bank domestic capital pools have exceeded USD 2 trillion, highlighting a growing capacity for self-financed development. Launched at the Africa We Build Summit in Nairobi, co-hosted by William Samoei Ruto, the findings indicate a fundamental shift from capital mobilisation to capital intermediation effectively channelling existing savings into infrastructure, industry, and productive investment at scale. As noted by Samaila Zubairu, the core constraint is no longer the availability of capital but the systems required to deploy it efficiently, with much of Africa’s growing pension, insurance, and sovereign wealth assets still concentrated in low-risk, short-term instruments. At the same time, declining external financing including reduced development assistance and constrained foreign investment flows further reinforces the urgency of a domestic capital-led model. The report underscores that the next phase of Africa’s growth will depend on building integrated systems across infrastructure, energy, logistics, and digital sectors, enabling capital to flow into large-scale, demand-driven projects. For foreign investors, this shift presents a significant opportunity to partner with local institutions, co-invest alongside growing domestic capital pools, and participate in the development of scalable, system-driven infrastructure ecosystems across the continent.
Tanzania
Tanzania moves to protect investors and fast-track PPP projects with new lobbying framework
Tanzania is considering the introduction of a formal lobbyists’ registry as part of broader reforms aimed at strengthening investor protection, enhancing transparency, and accelerating the execution of Public–Private Partnership (PPP) projects. According to a recent report by The Citizen, the initiative led by the country’s PPP Centre which seeks to regulate lobbying activities, streamline investment processes, and reduce bureaucratic delays that have historically slowed project implementation. The proposed framework is expected to improve confidence among both local and foreign investors by addressing risks associated with informal intermediaries, some of whom expose investors to fraud while operating outside formal systems. Officials noted that the reform will also strengthen collaboration between government institutions and the private sector, with plans underway to formalize partnerships that reduce approval timelines and improve project execution efficiency. The move comes in response to concerns from business leaders about lengthy procedures and limited coordination across institutions, which have discouraged investment despite strong interest across sectors. By improving regulatory clarity, reducing friction in deal-making, and enhancing the pipeline of bankable PPP projects, Tanzania is positioning itself as a more attractive destination for foreign capital, particularly in infrastructure, transport, and energy development.
Kenya
Kenya and Uganda deepen energy partnership with USD 4B refinery investment plan
East Africa’s energy integration is gaining momentum as William Samoei Ruto announced plans for Kenya to invest in Uganda’s oil refinery, deepening cross-border cooperation following strong regional participation in Kenya’s infrastructure sector. Speaking at the Africa We Build Summit 2026 in Nairobi, Ruto emphasized growing trust between the two countries, referencing Uganda’s earlier investment in the Kenya Pipeline Company and signalling a reciprocal move into the USD 4 billion Hoima refinery project which is one of the largest energy investments in the region. Yoweri Kaguta Museveni welcomed the development, highlighting its potential to enhance value addition from the region’s oil resources and reduce reliance on exports of raw crude. The announcement comes amid rising regional investor participation, evidenced by the oversubscribed Kenya Pipeline Company IPO, which raised Ksh106.7 billion with strong uptake from Kenyan, Ugandan, and Rwandan investors, including institutional buyers such as pension funds. At the same time, Kenya is advancing its own upstream oil ambitions in the South Lokichar Basin, where production is expected to begin by December 2026, supported by new drilling infrastructure and an estimated 585 million barrels of recoverable reserves. Together, these developments signal a broader shift toward integrated regional energy systems, increased local capital participation, and large-scale infrastructure investment, presenting significant opportunities for foreign investors to engage in East Africa’s evolving oil, energy, and logistics value chains.
Uganda
Uganda set to commission USD 300M cement plant to boost industrial growth
Uganda is set to commission a major USD 300 million cement plant in the country’s northeast, marking one of the largest industrial investments in the region and a significant step in its industrialization agenda. The facility, with a production capacity of over 6,000 tons of clinker per day, is expected to substantially reduce Uganda’s reliance on imported cement and clinker, which has historically strained the country’s trade balance and increased construction costs. The project is also anticipated to stimulate economic activity in the underdeveloped Karamoja sub-region by creating jobs, strengthening local supply chains, and supporting infrastructure development. As demand for cement continues to rise, driven by large-scale infrastructure and construction projects, the investment aligns with government efforts to boost domestic manufacturing capacity through incentives, industrial zones, and improved energy access. Overall, the plant signals growing investor confidence in Uganda’s industrial sector and highlights the country’s potential as a manufacturing and construction hub in East Africa.
Rwanda
Russia and Rwanda deepen cooperation in nuclear energy, trade and investment talks
Russian Foreign Minister Sergey Lavrov met with Olivier Nduhungirehe on the side-lines of the Antalya Diplomacy Forum, where both sides reaffirmed their commitment to strengthening bilateral relations and expanding cooperation in trade, economic development, and human capital training. Discussions focused on traditionally friendly ties between Russia and Rwanda, with special emphasis on peaceful nuclear energy development, education exchange programs, and technical capacity building. The partnership builds on earlier cooperation between Russia’s Rosatom and Rwanda’s nuclear energy authorities, including a 2019 roadmap for the development of nuclear power infrastructure, which has since evolved into plans for a nuclear research center expected by 2030. The facility is projected to support medical applications such as cancer diagnosis and treatment, agricultural innovation through radiation technology, and industrial testing capabilities, while Rwanda also explores advanced energy systems including small modular reactors and Africa’s first demonstration of a Dual Fluid reactor. The strengthening of Russia-Rwanda relations comes at a time when Rwanda is positioning itself as a fast-growing regional hub for trade, technology, and investment, supported by strong economic fundamentals and active participation in major trade frameworks such as the East African Community (EAC), AfCFTA, COMESA, and WTO agreements. With agriculture employing a majority of the population and key exports including coffee, tea, and minerals such as tin and tantalum, Rwanda is actively seeking to move up the value chain through industrialization, processing, and technology-driven development. The country’s rapidly expanding ICT, manufacturing, real estate, and tourism sectors further reinforce its investment attractiveness. In 2025, bilateral trade between Rwanda and Russia reached approximately USD 2.1 million, marking over 45% growth since 2021, with Rwanda exporting agricultural products and Russia supplying industrial and energy-related goods. This deepening partnership signals Rwanda’s broader strategy to diversify international alliances while accelerating investment in energy security, technological innovation, and sustainable economic growth.
Democratic Republic of Congo
New USD 7.7M investment to strengthen Congo’s agricultural economy
The Ministry of National Economy of the Democratic Republic of the Congo has announced a USD 7.7 million agricultural investment program aimed at boosting food production and strengthening food security in South Ubangi province in the country’s northwest. The initiative, disclosed on April 16, 2026, will be implemented in partnership with Centre de development intégral Bwamanda, and is designed to support farmers, revive soybean and maize value chains, and improve rural infrastructure, particularly agricultural roads linking production areas to Kinshasa, the country’s main consumption market. The program is part of a broader national strategy to reduce living costs, strengthen local value creation, and reposition agriculture as a strategic pillar of the economy. From an investment perspective, this initiative signals growing opportunities for foreign direct investment in the DRC’s agribusiness sector, particularly in value-chain development, logistics, and agro-processing. By focusing on production efficiency and improved market access, the government is effectively de-risking parts of the agricultural sector, making it more attractive for international agribusiness firms, development finance institutions, and impact investors seeking exposure to food security and rural development markets. Additionally, the project complements broader agricultural programs such as the USD 25 million Integrated Program to Reduce Emissions from Deforestation and Forest Degradation (PIREDD), which promotes sustainable farming and agroforestry systems, further expanding long-term investment potential in sustainable agriculture and climate-smart agribusiness across the region.
Somalia
Somalia unveils 100 bankable projects to drive investment across key sectors
Somalia has unveiled a pipeline of 100 investment projects across energy, infrastructure, and the blue economy in a bid to attract both foreign and domestic capital, marking a significant step in its economic transformation agenda. Announced on April 18, 2026, during a two-day investment forum in Mogadishu, the initiative brought together Somali business leaders, diaspora investors, and international partners to explore high-impact opportunities aligned with the country’s National Transformation Plan (2025–2029). According to Abdifatah Abdikadir Farah, Director General at the Ministry of Planning, Investment and Economic Development, the projects have been prepared to international standards to enhance investor confidence and ensure readiness for implementation, with improving security conditions further supporting the investment climate. Organized by SOMINVEST, the initiative emphasizes transparency, legal clarity, and risk reduction, with Director Mohamed Dubo noting that the “Bankable Projects 2026–2030” program is designed to provide structured, high-impact opportunities across key sectors. The move reflects Somalia’s broader strategy to shift away from reliance on external aid toward private sector-led growth, with officials highlighting the potential for these investments to drive infrastructure development, stimulate economic activity, and create much-needed employment opportunities, particularly for the country’s youthful population.
Upcoming events
EAPI Summit 2026
Date: 13 – 14 May 2026
Venue: Radisson Blu Hotel Nairobi Upper Hill
Agenda:
A two-day high-level summit bringing together global investors and industry leaders to explore opportunities, trends, and capital flows in East Africa’s real estate and hospitality sectors.
How to register:
Register online through the official EAPI Summit platform via this link – https://www.taptickets.co.za/event/691c43824dbdd17b786fead3
Who should attend:
- Real estate investors
- Property developers
- Financial institutions & capital market players
- Hospitality industry professionals
- Project managers and consultants
- Anyone interested in East Africa’s property market
Key features:
- 400+ global investors and industry professionals
- Networking and deal-making opportunities
- Insights from top industry leaders and trendsetters
- Access to funding and finance opportunities
Discussions on:
- Investment & capital markets
- Retail and logistics
- Hospitality
- Affordable housing
Opinion of the week
“Africa must finance its own future through strategic investments in people, infrastructure, and innovation. By strengthening partnerships and mobilizing capital, the continent can accelerate transformation and build resilient economies.”
Claver Gatete- Executive secretary, United Nations Economic Commission for Africa
Conclusion
Africa’s investment story is no longer about potential it is about momentum, scale, and execution. Across the continent, we are seeing capital align with strategy, reforms translate into real opportunities, and regional partnerships evolve into powerful engines of growth. From multi-billion-dollar energy projects to expanding industrial capacity and investor-friendly policy reforms, the foundation for long-term value creation is being actively built. What stands out is a new level of coordination between governments, local capital, and international investors—creating an environment where opportunities are not only emerging but becoming increasingly accessible and scalable. For investors willing to engage early and strategically, this is a defining moment to participate in shaping Africa’s next growth cycle. The question is no longer if to invest in Africa, but how soon and how deeply to be part of its transformation.
Resources
- Africa Finance Corporation (2026)
https://www.africafc.org/news-and-insights/news/africa-strengthens-foundations-to-lead-its-own-financing-as-domestic-pools-surpass-external-flows-afc-report-shows
- The Citizen (2026)
https://www.thecitizen.co.tz/tanzania/business/government-considers-to-introduce-lobbyists-registry-to-protect-investors-fast-track-crucial-ppp-projects-5429592
- Kenyans (2026)
https://www.kenyans.co.ke/news/122827-kenya-invest-ugandas-ksh-500b-oil-refinery-ruto-announces
- Global cement (2026)
https://www.globalcement.com/news/20679-us-300m-plant-coming-to-northeast-uganda
- Russias pivot (2026)
https://russiaspivottoasia.com/russia-rwanda-bilateral-trade-investment-update-april-2026/
- Ecofin agency (2026)
https://www.ecofinagency.com/news-agriculture/2204-54915-drc-invests-7-7-million-to-boost-soybean-and-maize-production
- Dawan Africa (2026)
https://www.dawan.africa/news/somalia-unveils-100-investment-projects-in-energy-infrastructure-blue-economy
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