PUBLISHED ON September 29th, 2014

Cross-border trade projects gulp sh8.9bn

TradeMark Africa, the non-profit organisation that has been spearheading trade integration across the bloc, has invested about $100 million (Sh8.91 billion) in the upgrade of one-stop border posts.

It said Friday that this will ease cross-border trade and improve business competitiveness by reducing the time spent to clear cargo on transit.

So far, construction at the Holili-Taveta one-stop border post at the Kenya-Tanzania border is complete, paving way for controls that will save time and money for traders ferrying goods into Northern Tanzania. It is expected to be officially opened next year.

“We are already working on the Busia and Malaba border posts to upgrade the facilities, as well as work towards improving the management of work processes and eventually easing transit times,” said chief executive Frank Matsaert, during the relaunch of the company website in Nairobi.

The company prides itself as being instrumental in the recent signing of the Mombasa Port Community Charter by 25 government and private sector agencies, which was witnessed by president Uhuru Kenyatta.

“The charter is expected to hold the signatories to account for helping make more efficient the port activities and strengthen efficiency in the northern corridor,” he said.

Other gains that the organisation has witnessed include private sector advocacy in the tourism sector that has resulted in joint initiatives designed to boost tourism. The group has overseen the strengthening of the Burundi Revenue Authority that has resulted in improved tax compliance for the nation.

TradeMark Africa (TMA) is supported by seven development partners including USA, Netherlands, Canada, UK, Denmark, Finland, Belgium and Sweden.

Source URL: The Star

Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of TradeMark Africa.