Uganda rose two places to fourth, while Namibia and Kenya improve their ranking within the top 10. Scores for these three countries primarily rose due to progress in adopting ESG policies and frameworks.
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A prolonged drought has left almost 5.5 million people facing hunger, according to the United Nations, as agricultural output declines.
Expectations at Kenyan firms for the next 12 months remained one of the worst on record, with just 12% of panellists predicting output to expand.
The Logistics firm was founded in 2015 by Mesh Alloys, Evanson Biwott, Don Okoth and Malaika Judd.
SBM Holdings entered the Kenyan market in 2017 through acquisitions of Fidelity and Chase Bank
Safaricom Ethiopia is building a wholly-owned mobile network and has infrastructure sharing and interconnection agreements with Ethio Telecom.