Invest Africa (www.InvestAfrica.com), a Pan-African business and investment platform, aims to build constructive dialogue between policy makers and business leaders from the UK and Africa during the Forum. James Duddridge MP, Minister for Africa, Emma Wade-Smith OBE, H.M. Trade Commissioner for Africa, and His Excellency Ken Ofori-Atta, Minister of Finance of the Republic of Ghana will feature in the programme. The Forum will feature Dr Mo Ibrahim in conversation with CNBC Africa, discussing why supporting good governance is essential to driving growth and improving livelihoods across the continent. Speaking earlier this month, the Sudanese-British businessman called attention to the impact of Covid-19 on governance in Africa, highlighting job creation, improved education and healthcare and investment in economic development as essential conditions to building healthy democracies. The Forum brings together speakers from Invest Africa’s membership, including Absa international; DHL; Casa Orascom; TTRO; Mischon de Reya; Tysers; Pernod Ricard and Afreximbank. An explosion of trade with Africa The Forum comes at an opportune time as trading under the AfCFTA commenced on the 1 January 2021, accelerating intra-African trade, and boosting Africa’s trading position in the global market. This, combined with the UK’s departure from the European Union, has seen a rise in investment interest in Africa. The UK trade envoy to Egypt was recently quoted in the UK press, saying that Egypt ‘can be the “gateway” to an explosion of trade with Africa.’ Earlier this year, Helen Grant, Conservative MP and trade envoy to Nigeria claimed a trade deal with the country could be significant...

Shipping lines and agents operating in Kenya will now be mandated to use the Maritime Single Window System as the country moves to comply with the International Maritime Organization rules. The system will be used to electronically prepare and submit vessel pre-arrival and pre-departure declarations to the government agencies at the Port of Mombasa. Kenya Trade Network Agency (KenTrade) has partnered with the Kenya Maritime Authority (KMA in the implementation of the maritime single window system as an E-Maritime module of the Kenya TradeNet System, to comply with the International Maritime Organization Convention on Facilitation of Maritime Traffic known as FAL Convention. The country is among the 120 governments (member states) that have ratified the FAL Convention. The FAL Convention recommends the use of the “Single Window” concept in which the agencies and authorities involved exchange data via a single point of contact, in a move aimed at improving port services with reducing vessel delays expected to save traders from demurrage charges. This is a charge payable to the owner of a chartered ship on failure to load or discharge the ship within the time agreed. For instance in 2017, Kenya paid an average $23 million (Sh2.5 billion) as demurrage on oil imports alone. With the new system, it eases the process of vessel clearance for arrival and departure where shipping agents can share information almost immediately to numerous state agencies. They include KMA, Kenya Revenue Authority, Kenya Ports Authority, State Department of Immigration, Port Health, National Environment Management Authority, Kenya Plant...

During the event, a real time live demonstration of driver registration and verification of EAC digital certificate at the borders Time: Zoom will be open from 12:00PM (EAT) on Tuesday 8th–September 2020 and event starts at 2.00PM. Join Zoom Meeting: Launch of EAC RECDT. Meeting ID: 834 8633 7113. Passcode: 506536  East African Community Headquarters, Arusha, Tanzania, 8th September, 2020: ​The East Africa Community Secretariat and its Partner States will hold a virtual event to officially mark the roll out of the Regional Electronic Cargo and Driver Tracking System (RECDTS) from Malaba/Malaba the border between Uganda and Kenya and Mirama Hills / Kagitumba, the border between Uganda and Rwanda, today Tuesday  8th September, 2020 at 2PM. The tracking system provides a surveillance system to monitor long distance trucker’s crew and enable contact tracing. It allows Partner States to electronically share truck drivers’ COVID-19 test results; therefore, minimizing need for multiple COVID-19 tests in a single trip. Speaking ahead of the virtual launch, the EAC Deputy Secretary General in charge of Productive and Social Sector, Hon Christophe Bazivamo said RECDTS is expected to support health related protocols and facilitate safe trade in the region. “The reliance on manual certificates and delayed test results at the borders has been the main reasons for long delays at border points”. The tracking system is expected to be used in all Partner States and will eventually be extended to EAC neighbouring countries, particularly Democratic Republic of Congo (DRC) added, Hon Bazivamo He disclosed that the European Ambassador to Kenya H.E Simon Mordue is...

This year as the 2021-22 financial year starts, Uganda Revenue Authority (URA) marks 30 years since its creation, as part of the 1991 reforms which were aimed at improving government revenue collection. The tax body with Edward Larbi Siaw as the first commissioner general, collected 113 billion Shillings which was 6.83% of GDP then, amounting to 11.2 trillion Shillings. But much as the revenue collections have since grown many times to 16.4 trillion as of 2018/2019 (and expected to hit 19 trillion this fiscal year), the ratio to GDP has been oscillating between 11 and 13% in the last one decade. This is also far below Uganda’s regional peers, Kenya and Rwanda whose revenue authorities have managed to collect revenues more than 16% of their respective GDP sizes. The ratio helps policy makers and lenders to the government to tell whether the revenues being raised from taxes by the country are good enough compared to the size of the economy. Mr Siaw, the Ghanaian tax expert was credited for a smooth nurturing of the authority that had just been formed from a revenue department under the ministry of finance. Under the direct supervision of the ministry, it was considered that the tax administration system was suffering from too much powers by the minister, high tax rates and a lot of bureaucracy among others. In 1997, Siaw was replaced by Elly Rwakakooko, a financial sector expert who had been chairman and managing director of Uganda Commercial Bank, which was later sold...

Abuja, June 8, 2021 The African Export-Import Bank (Afreximbank) has pledged support for African Organisation for Standardisation (ARSO) in harmonising standards for automotive sector on the continent. This is against the backdrop of plans by ARSO to inaugurate the completed harmonised African Automotive Standards by June in Nigeria, Rwanda, Ghana, Malawi, South Africa and Zimbabwe. Afreximbank in a statement on Tuesday in Cairo, Egypt said that the harmonised standards would facilitate an accelerated development of the sector across the continent. It added that the harmonised standards were to be adopted by individual African countries, facilitating cross-border trade, under the African Continental Free Trade Agreement (AfCFTA). The bank said that there were 1,432 international automotive standards worldwide, largely developed by the International Organisation for Standardisation and the American Society for Testing and Materials. It said that to initiate the process of developing African Automotive standards, ARSO prioritised “Whole Vehicle Standards” encompassing motor vehicle components, accessories and replacement parts. “It is anticipated that some 250 standards will need to be harmonised based on the basic components, accessories and replacement parts which are necessary to keep a vehicle safe and operational. “ARSO had initially targeted 18 basic standards based on the demands of the industry to facilitate development of the automotive sector on the continent. “Since inception of the project in 2019, ARSO has, with the support of Afreximbank, been successful in harmonising 42 international standards, well above the targeted 18.” The bank said that an initial grant provided by it was critical...

As policymakers in the least developed countries address COVID-19’s social and economic consequences, they must ensure recovery efforts are gender-responsive. Although the number of confirmed COVID-19 cases per capita has been lower in the least developed countries (LDCs) than expected, the socio-economic fallout for their populations has been dire, pushing an estimated 32 million more people into extreme poverty in 2020. Women in these countries have borne the brunt of the crisis, as they work mainly in the hardest-hit sectors, such as tourism, horticulture and textiles. A new study by UNCTAD and the Enhanced Integrated Framework (EIF) warns that the gender gap in income and overall well-being in LDCs will continue to worsen unless COVID-19 recovery efforts adopt a gender perspective. “As policymakers urgently try to restart their economies, they should ensure that both women and men receive the necessary means and support to recover from this crisis,” UNCTAD Acting Secretary-General Isabelle Durant said as she presented the study on 8 March. “For an inclusive and better recovery, policies must be gender-sensitive.” Gender-responsive trade policies needed The study, Trade and Gender Linkages: An analysis of Least Developed Countries, provides recommendations to help LDC governments adopt trade-related polices that are more gender responsive. EIF head Ratnakar Adhikari said: “We had a long way to go to fix the world’s gender gap, and the pandemic has made the journey even more arduous, especially in the world’s poorest countries, where the challenges facing women are even more dire.” “But if we’re committed to...

The Kenya Revenue Authority (KRA) announced its plans to roll out a new eFuels Project under the Regional Electronic Cargo Tracking System (RECTS) this month. Through this new system, oil transporters across the country will be able to easily track their trucks to and from their respective oil depots. However, this will only be possible once they register their trucks for entry and loading at oil installations. This was confirmed by the Commissioner of Customs and Border Control Lilian Nyawanda informing petroleum stakeholders that the eFuels Project will start rolling out at the Eldoret Kenya Pipeline Depot. This is before a gradual execution in other oil installations across the country. “In order to enhance the system and operational efficiency, the authority intends to deploy a ‘transporter booking’ module in Regional Electronic Cargo Tracking System (RECTS). The module will enable all petroleum transporters to book in advance their trucks for entry and loading at oil installations through RECTS,” stated the notice to the transporters. The system will involve a smart gate feature that only allows trucks that have been booked in the system in advance to access the oil depots. Additionally, the transporters will be required to have a valid Transit Goods License (TGL) which can be obtained directly from the KRA Licensing office which is free of charge. This comes a few months after the KRA launched RECTS as a tool to help track containerized Transit Cargo & Single Customs Territory (SCT) Goods from the port last year. The tracking...

In Summary Lockdowns imposed globally pushed the demand for various products up, causing exports to grow from Sh598 billion in 2019 to Sh641 billion last year. Only 11 products accounted for 72 per cent of total products exported in 2020, while only 10 countries accounted for about 64 per cent of all exports. Kenya earned Sh46.2 billion more from its exports last year even as the Covid-19 pandemic devastated economies. The total exports grew from Sh595.38 billion in 2019 to Sh641.62 billion in 2020, representing a 7.8 per cent increase. This is despite the fact that many countries locked down in efforts to stem the spread of the virus that has killed over three million people and occasioned massive job losses. Locally, the government imposed a 30-day lockdown that disrupted international travel and flights. Despite the crisis, the Kenya Exports Promotion and Branding Agency (Keproba) says the pandemic had a positive effect on local exports as the global lockdowns pushed up the demand for some products. Top on the list was tea whose sales shot up by Sh16.7 billion, followed by horticultural products that increased by Sh12.5 billion, vegetable oil by Sh6.1 billion, cereals and products by Sh4.8 billion and tobacco products by Sh3.3 billion. Exports of edible preparations also grew by Sh2.5 billion, while vegetable and fruit preparations increased by Sh2.3 billion. Data collected by Keproba indicates that the growth was occasioned by increased consumption of products such as tea and other beverages during lockdowns. Kenya’s export market grew...

In Summary It is expected that up to 90 per cent of goods and services traded within the continent will benefit from preferential trade terms. This includes elimination of tariff barriers. The Africa Continental Free Trade Area (AfCFTA), billed as a catalyst for intra-African trade, officially commenced operations on January 1, 2021, six months later than initially anticipated. Through the AfCFTA, tariff and non-tariff barriers that have historically posed as an impediment to intra-African trade will be conclusively dealt with. Specifically, it is expected that up to 90 per cent of goods and services traded within the continent will benefit from preferential trade terms, inclusive of the elimination of tariff barriers. To date, all African states, save for Eritrea, have signed up to the AfCFTA, while all but twenty African states have ratified the AfCFTA. Within the East African region, only Tanzania, Burundi and South Sudan are yet to ratify the agreement. In a bid to ensure that the East African Community (EAC) is not left behind in taking advantage of the agreement, Tanzania, Burundi and South Sudan have been urged to complete the ratification process of the AfCFTA before 01 June 2021. It is anticipated that the successful implementation of the AfCFTA will have tangible benefits on the African continent, inclusive of accelerated industrial development, expanded economic diversification and enhanced job creation. Indeed, where AfCFTA is successfully implemented, intra-African trade stands to increase by 33 per cent in the medium term, from the current 16 per cent. This will...

The Budget and Appropriation Committee wants Kenya to conduct a study on key existing and potential export markets, to drive growth of the sector. The State Department for Trade has been tasked to undertake the survey, which will also look into the need to establish trade offices or logistical centres in various regional economic blocks and countries with bilateral relationship with Kenya. This is in order to focus on international export opportunities that match Kenya's current and potential business capability, the MPs say, noting the country's exports fall way below the potential. “The study should be completed by December 31,” the  committee led by Kieni MP Kanini Kega has said. Kenya's export quality has largely remained unchanged with the country exporting most raw , primary products as opposed to manufactured goods, the committee has further observed. “Our export volumes have remained below potential mainly due to failure to meet the market phytosanitary requirements and quality standards. The country is also underrepresented in terms of trade representative offices in key existing and potential export markets,” the Mps have noted in their report on the 2021/2022 financial year budget. While the National Treasury has proposed to post 22 trade attaches in various missions abroad, the the number is not enough, the committee has noted. To facilitate the expansion of exports and growth, the Mps wants an export management office (EMO) established, which will have representation from all agencies that deal with the entire export value chain of Kenyan products. This will be led by among others,...