Africa is regarded as the new business frontier of global trade and investment. This despite numerous challenges such as lack of proper infrastructure and access to capital. In it’s most recent report for 2020, Deloitte and Touche outlines countries with most ideal environment for investment. Herein is a snapshot of most appealing countries: Mauritius The modest Indian Ocean island, which is best known for its exquisite white beaches and lush lifestyle, is fast becoming one of the hottest investment destinations and foremost business hubs on the African continent. Being likened to one of the leading real estate and business hubs in Asia is no small achievement. The fact that Mauritius is on a mission to make itself more attractive as an investment environment is clear from its progressive and highly favourable tax regime. Mauritian tax planning advantages include no capital gains tax; no inheritance, wealth or gift tax; a standard 15per cent individual tax rate; and no exchange control. Corporate tax is set at a rate of 15per cent or lower, while the country also boasts a strong tax treaty network. Cote D’ivoire Côte d’Ivoire has enjoyed a vibrant, robust, and stable economic growth since 2012, but experienced a slowdown in 2020 owing to the Covid-19 crisis. Prior to the global shock triggered by the pandemic, Côte D’ivoire had one of the most robust economies in Africa and in the world and had grown at an annual average rate of 8 per cent since 2012. The country remains Francophone West...

Lusaka MALAWI will have access to immense opportunities in the post-COVID-19 environment despite the accompanying challenges the period will pose, says Stephen Karingi, Director of the Regional Integration and Trade Division of the Economic Commission for Africa (ECA). Mr Karingi was speaking on Friday at the end of a series of workshops to review and validate Malawi’s African Continental Free Trade Area (AfCFTA) implementation strategy. “In trying to address the challenges caused by the pandemic, there are significant trade and business opportunities. These opportunities are available to Malawi too,” he said in a statement released after the workshop. The workshop followed two similar exercises in Blantyre and Lilongwe earlier in the week which gave stakeholders in the country an avenue to dialogue and secure ownership of the strategy. Mr Karingi also told Malawians worried that their country would become a dumping ground for goods from other countries, that the agreement had provisions that protect the Malawian market from unfair trade practices, including anti-dumping, countervailing and safeguard measures. “Should Malawi face critical balance of payments difficulties and there is need to safeguard its external financial position, the agreement allows the country to adopt appropriate restrictive measures to protect its position,” he said. For its part, the European Union (EU), a partner of the ECA in the process, says Malawi should take advantage of the exemption clauses in the AfCFTA agreement by promoting industrialization and value added sectors. “The key will be to attract, protect and nurture foreign direct investment and industrialization...

THE East African Community (EAC) partner states have been encouraged to exploit the huge potential of exporting raw cotton to the global market. Kenya's Principal Secretary for EAC, Dr Kevit Desai noted that the region produces 100,000 metric tonnes of cotton, compared to an existing export potential of 400,000 metric tonnes. Dr Desai noted that EAC exports to the world market currently stands at only eight per cent, adding that to increase the volume of exports, value chains such as textiles need to be promoted to boost exports. “We need to harness science, technology and innovation to boost exports by investing in greater capacity to produce leather and textiles and turn a crop like pyrethrum into aerosols,” said the Principal Secretary at EAC Headquarters in Arusha, Tanzania. Dr Desai was of the view that increased investment in the leather and textile sectors would cater for the growing demand in the region for locally manufactured high quality clothes and leather products. The Principal Secretary, who is also the Chairperson of the Coordination Committee that brings together Permanent/Principal/Under Secretaries for EAC Affairs in the partner states, was addressing the media at the EAC Headquarters in Arusha. The PS was in Arusha to attend the 31st meeting of the Sectoral Council of Ministers of EAC Affairs and Planning. Dr Desai disclosed that intra-EAC trade currently stands at only 15 per cent that he described as being very low compared to other regional economic communities like the European Union (EU) and the Southern African...

Summary Stifling Internet access. The 12% tax on data will make consumption of internet very expensive for businesses that are sagging under the burden of Covid-19 effects Pressures from the Covid-19 pandemic have elevated the digital economy as a safer means of doing business. Due to health and safety concerns from the coronavirus, online transactions and businesses have become the norm. But Uganda has now joined a list of other countries in taxing the digital economy going by the 12% levy government has slapped on Internet data starting July 1, 2021. Ms Josephine Nakiwala, one of the micro and small scale enterprise owners has been passed out after training in using digital platforms. Ms Nakiwala who was about to start testing the waters in the virtual world will have to incurr more costs in data to run her online business. A quick computation indicates that Ms Nakiwala will need to spend a minimum of Shs200,000 monthly on data alone. If you compute the 12 per cent tax imposed on data effective next month, Ms Nakiwala currently employing five people, will be parting with an additional Shs24,000 every month, which is nearly half the amount of money she pays for electricity (Yaka) monthly. Then there is Abdul Karim Sanya, the managing director of Media Company. Every month, they spend nearly Shs15 million on data alone. With the new 12 per cent tax on data, they will pay an additional Shs1.6 million - an equivalent of a salary for three contract (semi-casual)...

THERE is light at the end of the tunnel for businesses across the East African region, as the East African Community (EAC) decides to revamp the EAC Private Sector Desk. The action means that businesses across the EAC region will benefit from prompt resolution of persistent trade barriers and disputes as the desk will serve as an interface between the private sector and the EAC Secretariat. The news was broken at a CEO Roundtable, with the leadership of the Secretariat vowing to promptly address issues disrupting intra-EAC trade to increase trade and investment. There have been huge challenges in ways of doing business in the region, leaving it with a trade volume of only 15 percent. EAC Secretary-General, Dr Peter Mathuki had this to say at the Roundtable: “We can increase Intra- EAC trade threefold, in the next five years if we promptly work on resolving some of the impeding Non- Tariff Barriers and consistently hold Public- Private dialogues seeking sustainable solutions to these trade challenges.” The CEO Roundtable Dinner was organized by the East African Business Council (EABC), Tanzania Chambers of Commerce, Industries & Agriculture (TCCIA) and the Zanzibar National Chambers of Commerce (ZNCC) at Serena Hotel in Dar es Salaam. Tanzania business leaders in attendance expressed their optimism on market access of their goods into the EAC region following the positive support by President Samia Suluhu Hassan and change of guard at the East Africa Community Secretariat in April. Tanzania business leaders represented by Mr Paul Koyi, President...

This year has welcomed AfCFTA, the pan-African free trade agreement. As of 1st January 2021, AfCFTA has brought in new business standards for 41 countries and 1.2 billion people to increase economic growth across the continent. Alongside that has been an acceleration of digital transformation in the region, heralding a new era of technological advancement. AfCFTA introduces updated trading rules that lower import-export taxes, make commerce more affordable, and increase transaction volume. It means banks in the continent will be primed for pan-African service, a priority that will adjust the importance of ease of payment. Since we began operating in South Africa in 2006, there’s been steady progress toward digital adoption and seen remarkable changes over the past decade. We’ve also been instrumental in implementing change. For example, we were behind the first contactless payment ever made in Ghana. Yet, the explosive growth that has unfolded at lightning speed over the past two years has not been comparable to anything that has come before. There are examples everywhere you look. TymeBank South Africa acquired 3.2 million bank customers in 17 months of operation, making it the world’s fastest-growing independent digital bank. Over 50% of its customer base are active each month, and its deposits have been rising at around 10% per month, with the fastest growth among women clients representing 50% of their customer base. TymeBank has close partnerships with retailers for cash in and out and tends to go where their customers shop for essential items. This has been...

The much-awaited Moyale One-Stop Border Post (OSBP) on the Kenya-Ethiopia border has finally commenced operations. This means that the border regulatory officials clearing traffic, cargo and persons from both Ethiopia and Kenya will now relocate to Moyale and sit side by side on either side of the border, where they will undertake exit and entry formalities in a joint and/or sequenced manner. The move follows the official launch of Moyale OSBP in December 2020, by both President Uhuru Kenyatta and Ethiopian Prime Minister Abiy Ahmed. It has raised hopes to bolster trade and cooperation between the two countries. Moyale OSBP will be the first of its kind in Ethiopia and the fifth for Kenya with other operational OSBPs being Busia, Malaba, Namanga and Taveta. Speaking at the commencement meeting, Mr Mengistu Tefera, Ethiopia’s head of delegation and Special Advisor to Commissioner-General Ethiopia Customs Commission said, “The people of Ethiopia and Kenya deserve to tie their economic and social relations under the principle of mutual benefit. The establishment of the OSBP will have a significant role in improving cross border trade and free movement of people.” A fully functional OSBP is expected to reduce the border crossing time by at least 30 percent, to enable faster movement of cargo and people. “Today, with the collaboration of both governments, development partners; the legal frameworks, construction, supplying office infrastructure and ICT technology and solar power of Moyale are fulfilled and ready for operation,” said Kennedy Nyaiyo, Kenya’s head of delegation and the Secretary...

In Summary Expected to boost trade between Kenya and Ethiopia. Becomes the fifth OSBP for Kenya with other operational ones being Busia, Malaba, Namanga and Taveta. Trade between Kenya and Ethiopia has received a major boost with the operationalisation of the Moyale One-Stop Border Post . Operations commenced yesterday, and  border officials clearing traffic, cargo and persons from both Ethiopia and Kenya will now physically relocate and sit side by side on either side of the border. Under the One-Stop Border Post (OSBP) framework, clearance is done once and individuals or truckers need not get cleared on the other side of the border. The OSBP was commissioned in December 2020 by President Uhuru Kenyatta and Prime Minister Abiy Ahmed, but had not come into operation. The move is expected to boost trade between the two neighbouring nations, as well as promoe regional and economic integration between the East African and Horn of Africa regions. Moyale is the only gazetted border crossing point between Ethiopia and Kenya. A fully functional OSBP is expected to reduce the border crossing time by at least 30 per cent, to enable faster movement of cargo and people. A baseline survey by TradeMark Africa (TMA) in 2017 indicates that it takes on average, 21 hours and 52 minutes (Kenya-Ethiopia) and 12.5 hours (Ethiopia-Kenya) for a cargo truck to cross the border. “ The establishment of the OSBP will have a significant role in improving cross border trade and free movement of people," said Mengistu Tefera, Ethiopia’s head of...

Kenya-Ethiopia Government officials met today and commenced Moyale One Stop Border Post (OSBP) operations, raising hopes to bolster trade and cooperation between the two nations Once operationalized, Moyale One-Stop Border Post will be the first of its kind in Ethiopia and the fifth for Kenya with other operational OSBPs being Busia, Malaba, Namanga and Taveta. The Governments with a grant from Africa Development Bank put up the physical infrastructure component, and with funding from the United Kingdom’s Foreign, Commonwealth and Development Office (FCDO) through TradeMark Africa, supported  the Integrated Border Management component. The two components are the fundamentals that enable coordinated and efficient OSBP operations Addis Abeba – Moyale, June 08/2021 – Today marks the start of Moyale Border operating as a One Stop Border Post (OSBP), as the Government border regulatory officials from Kenya and Ethiopia came together to commence operations. This means that, the border regulatory officials clearing traffic, cargo and persons from both Ethiopia and Kenya will now physically relocate  and sit side by side on either side of the border, where they will undertake exit and entry formalities in a joint and/or sequenced manner. The officials conducted site visits and inspection of border facilities as part of the OSBP operations commencement process. The move follows the official launch of Moyale OSBP in December 2020, by H.E. President Uhuru Kenyatta of Kenya and H.E. Prime Minister Abiy Ahmed of Ethiopia. This move is a step closer to achieving the goal of exponentially boosting trade between the two neighbouring...

The Guardian Towards development, execution of inclusive, participatory and ambitious NDCs in Tanzania ​​​​​​​IN 2015 196 Parties to the United Nations Framework Convention on Climate Change (UNFCCC) signed the Paris Agreement and set the world on course towards sustainable development. NDCs must address energy poverty and promote renewable energy. The Agreement created a platform for the Parties to set long term goals to reducegreenhouse gas emissions through Nationally Determined Contributions (NDCs) which require parties to outline domestic mitigation measures, with the aim of achieving the objectives of such contributions. NDCs are non-binding national plans that highlight climate actions including targets for reducing greenhouse gas emissions, policies and measures governments aim to implement in response to climate change and as a contribution to achieve the global targets set out in the Paris Agreement. For Tanzania, preparation of NDCs is still in progress. However efforts are being made to finalize and submit the document for registration to the UNFCCC before CoP26, slated for November his year. The document under preparation must reflect realistic ambition to reduce greenhouse gas emissions in relation to global targets. It must also promote gender equality and social inclusion and enhance coordination of climate actions in order to realize the set targets. In achieving this objective Climate Action Network Tanzania (CAN Tanzania) has been implementing a project “Participatory NDCs for a Climate-just Response in COVID-19 World,”in collaboration with various civil society organisations in the country. The project is scheduled for completion at the end of this year. Other...