Tanzania managed to attract Foreign Direct Investments (FDIs) totaling 2.9 billion US Dollars in five months between March and August. Tanzania’s total foreign reserves reached a historical high, sailing well above the regional benchmarks. The central bank attributed the reserve increase to exports of goods and services that increased by 6,1 percent. During the tumultuous period, of Covid-19 Tanzania’s economy largely operated under the premise of business as usual. Despite this approach, the country was less confronted with an unavoidable slowdown in some of its key sectors but not all may be tourism got its fair share of the effect of Covid-19, which resulted to the slowdowns in the economies of its key trading partners. In May 2020, when many countries in the region were starting to realize the full extent of the short- to mid-term economic crisis associated with Covid-19, the Monetary Policy Committee of the Bank of Tanzania issued a press statement that highlighted some changes to the banking landscape to help buffer Tanzania against the economic fallout from Covid-19. With many interventions put in place that period it is all rosy as the country has recorded rise of Tanzania’s forex reserves which have sparked optimism among local economists over the country’s economic prospects. Tanzania’s total foreign reserves reached a historical high, sailing well above the regional benchmarks thanks to export diversifications notably rice and edible vegetables. The increase in export earnings from these items helped to cushion the deficit of revenues generated from tourism impacted heavily by...

The President said the business communities should not view themselves as competitors but partners working together to meet the demands for goods and services in Kenya and South Africa. “You are not competitors. I think the big mistake we had made is by making each other competitors. We are not competing. We are here to satisfy the needs of our respective markets. Our problem is that we are not working together to meet the demands that our people have,” President Kenyatta said. President Kenyatta spoke on Tuesday when he and his host President Cyril Ramaphosa addressed a Kenya-South Africa business forum that was attended by over 250 business leaders from the two countries. The President said the business communities should not view themselves as competitors but partners working together to meet the demands for goods and services in Kenya and South Africa. “You are not competitors. I think the big mistake we had made is by making each other competitors. We are not competing. We are here to satisfy the needs of our respective markets. Our problem is that we are not working together to meet the demands that our people have,” President Kenyatta said. President Kenyatta spoke on Tuesday when he and his host President Cyril Ramaphosa addressed a Kenya-South Africa business forum that was attended by over 250 business leaders from the two countries. Read original article

Summary Most e-waste in Africa comes from Australia, China, the EU, Japan, North America, South Korea, the US and Canada. There are concerns that firms in developed countries are exporting items to developing countries, purportedly as refurbished and good for use, while instead were dumping them so that they don’t have to deal with the e-waste when they become obsolete. Many African countries have non-existent or unsafe recycling practices, which endanger both people’s health and the environment. A ban on the dumping of electronic waste in the region received a boost after the East African Community (EAC) prohibited the importation of cathode rays tubes (CRTs) and standalone used computer monitors with effect from July 1, 2022. The East African Community Sectoral Council on Trade, Industry, Finance and Investment (SCTIFI) held a meeting in Arusha on November 12, chaired by Kenya’s Cabinet Secretary in charge of Trade and Industrialisation Betty Maina, in which the partner states — Kenya, Uganda, Tanzania, Rwanda, Burundi and South Sudan — agreed unanimously to ban dumping of e-waste in the region. The decision follows concerns that firms in developed countries were exporting these items to developing countries, purportedly as refurbished and good for use, while instead were dumping them so that they don’t have to deal with the e-waste when they become obsolete. Many African countries have non-existent or unsafe recycling practices, which endanger both people’s health and the environment. Items with CRTs are particularly harmful because they contain lead, a known toxin. The lead content...

Traders on the Kenya-Tanzania border in Lungalunga, Kwale County, have decried long clearance processes, prompting them to use alternative routes to ferry their goods and denying the government revenue. Speaking during a sensitisation campaign organised by the Kenya Revenue Authority (KRA) at Horohoro on Monday, they said certifications needed for cross-border trade make them avoid using one-stop border posts. Such border posts were envisioned to help deepen policy integration and reduce barriers to trade between Kenya and its neighbours. Speaking during a sensitisation campaign organised by the Kenya Revenue Authority (KRA) at Horohoro on Monday, they said certifications needed for cross-border trade make them avoid using one-stop border posts. Such border posts were envisioned to help deepen policy integration and reduce barriers to trade between Kenya and its neighbours. Cross Border Traders Association secretary Zipporah Kamau said lack of information had also made it difficult for traders to conduct business in legal ways. "Many traders use illegal routes because they are scared. They do not have passports and they don't know how much it costs to cross the border and also lack other necessary certifications that we are unaware of," she said. The challenges come as traders claim the Covid-19 pandemic and drought in most parts of the Coast region have made it difficult for them to sell fruits and food items in Tanzania. However, KRA Southern Region cross-border trade Chief Manager Agatha Munyaka said other than enforcement, the agency seeks to educate traders on the legal processes that must...

  With the African Continental Free Trade Area (AfCFTA) poised to generate potential gains of up to $450 billion according to the World Bank, the International Trade Centre (ITC) and the Organization of Women in International Trade (OWIT) in Nairobi, in collaboration with OWIT Nigeria and OWIT Zimbabwe, are partnering to support African women entrepreneurs to participate in intra-regional trade. Speaking during the Africa Women Trade Conference organized by the two organizations on November 25 and 26, Aissatou Diallo, ITC Senior Coordinator for the AfCFTA and Least Developed Countries, said that trade under the AfCFTA would drive larger gains in earnings for businesswomen. Themed ‘Empowering Women in Intra-Africa Trade’, the conference encourages women entrepreneurs to trade cross continentally, taking advantage of the AfCFTA’s enormous potential for trade within the regional and continental markets. The conference further focuses on Africa’s investment opportunities while creating an opportunity for women entrepreneurs and business leaders to meet with investors. Supported by ITC’s One Trade Africa programme, the two-day hybrid event, with 200 participants on-site and 1,000 joining virtually, brings together traders, government agencies, financial institutions, investors, small businesses and local eco-system partners. Experts attending the conference say it is critical to establish what the AfCFTA means for women in terms of their participation in cross-border trade, value chains and public procurement from the onset. They also underscore women and youth are key stakeholders in continental economic development, as Africa’s informal sector accounts for 85% of the continent’s total economic activity; and while women account for 90% of the labour force in the informal...

The East African Business Council (EABC) has urged EAC partner states to conclude their collective trade agreement with the United Kingdom to avoid trade uncertainty and disruption. The appeal was made by EABC CEO Mr. Kalisa during a courtesy visit by the UK Prime Minister’s trade envoy to Tanzania, John Lord Walney, to the EABC Headquarters in Arusha, Tanzania. John Lord Walney said, UK is committed to vitalizing Aid for Trade and craft a win-win trade relationship with EAC bloc as the region is has vast endowments and opportunities. He also commended EABC under the leadership of Mr. Kalisa for applying a vital role in breaking barriers and costs to trade plus igniting economic recovery and creating prosperity in the EAC. He further committed to steer a dialogue platform between EABC and UK businesses for mutual trade and investment benefits, while emphasizing the need to climate change mitigation. On his part, Mr. Adrian Njau, EABC trade and policy advisor said, “EAC partner states ought to prefer Bilateral Trade Agreement (EPA) with the UK as the Everything But Arm (EBA) is on a concessional basis and a one-sided Agreement which can be suspended.” Mr. Njau proposed that the UK’s Post Brexit Trade Deals with African Countries and Regional Economic Communities (RECs) should allow Cumulation. This, in his view, will enable African contracting parties to use originating products from other African countries to manufacture products to be exported to the UK under preferential arrangements. He explained that the aforementioned will enhance the...

Summary While the EAC imported goods worth $503.5 million in 2020, it exported goods valued at $523.9 million to the United Kingdom Arusha. Despite the devastating impact of Covid-19 pandemic last year, the East African Community (EAC) bloc recorded a rare trade surplus with the United Kingdom (UK). While the EAC imported goods worth $503.5million in 2020, it exported goods valued at $523.9 million to the UK, one of Europe’s largest economies. Exports from the six nation EAC bloc increased by 14 percent last year from $458million in 2019, according to the East African Business Council (EABC). This was revealed here on Friday during the visit to the apex body of private sector associations’ offices by the UK Prime Minister’s Trade Envoy to Tanzania Mr. John Lord Walney. He said at the EABC offices that the UK was committed to revitalize aid for trade relationships with the EAC bloc “as the region has vast endowments and opportunities”. He commended the business captains in their relentless efforts to break the notorious trade barriers that could minimize the cost of doing business. Lord Walney pledged to steer dialogue between the UK businesses and the EABC “for mutual trade and investment businesses”. He applauded the EABC for establishing a Women-in-Business platform, saying the platform has addressed the concerns of women traders, notably those involved in cross border business. On his part, the EABC executive director John Bosco Kalisa urged the EAC to expedite the negotiations on economic partnership agreement with negotiations for the bloc’s...

TradeMark Africa with project implementing partner Horn of Africa Voluntary Youth Committee (HAVOYOCO), project donors European Union-IGAD (EU-IGAD) and Foreign and Commonwealth Development Office of the UK (FCDO) have today launched the US$206,000. The guest of honour at the event was Somali Regional State President H.E. Mustife Mohammed accompanied by State Minister for Women and Social Affairs in Ethiopia H.E Alemitu Omuit accompanied by other senior government officials. The modern physical markets for informal women traders in Ethiopia’s border town has been constructed with key health provisions and features to ensure enhanced safe trading and hygiene in light of the prevailing COVID-19 pandemic. State President H.E. Mustife Mohammed hailed the markets as an innovation anticipated to have great impact on the women traders. “These markets will ensure an enhanced and safe environment of our women traders to continue with their businesses and retain their livelihoods despite the continuing Covid related interruptions. Informal women traders constitute a significant portion of regional trade across our borders, and it is our government’s policy support them in their work” said H.E. Mustife Mohammed. State Minister of Women & social Affairs, H.E Alemitu Omuit appreciated all actors who joined hands in the construction of the market and outlined the importance of this market in the realization of women’s empowerment especially for women involved in the cross-border trade, she also put her remark as “with this new market, women can have access to safe working space, knowledge and skill and learn from one another. The government...

As part of the EU-IGAD Covid-19 response, regional trade facilitation agency TradeMark Africa (TMA) has this morning handed over Personal Protective Equipment (PPE) worth US$ 106K to the Government of Djibouti to sustain momentum in the fight against the COVID-19 pandemic and protect the health and well-being of people in Djibouti. The handover was done at the Djibouti port, which is a key trade facility handling 8 million tonnes of cargo annually. The PPEs have also been delivered to border officials at the Guellileh border and will also be delivered to the Galafi border, key transit trade points with Ethiopia. Today’s PPE’s delivery will cover the needs of 1000 Ports Authority staff, Port Police, Revenue Authority staff, Port health staff and sustain them for 120 days. The 1000 staff were prioritised as they are the first responders and most vulnerable dealing with port health, first aiders and handling of cargo as it arrives.  The PPE’s include hand sanitisers, liquid disinfectant, infrared thermometer, full protective coveralls, face masks, gloves and face shields. The delivery to the Port of Djibouti is critical and strategic as the port is the main entry point into the Horn of Africa serving Ethiopia, Somaliland and South Sudan. The equipment presented today will enhance the safety and working condition of front-line workers in key borders, which are critical arteries of trade in and out of Djibouti and her neighbours. Among the borders where the PPE will be distributed is Galafi. Rossella Monti, Senior Project Manager, UNOPS Programme...

  The Board and Council of TradeMark Africa (TMA) have today announced that Frank Matsaert, Chief Executive Officer (CEO), will step down as TMA’s CEO on 1st July 2022, after 12 years at the helm of the institution. A search for a new Chief Executive Officer has started. The Board and Frank have planned adequate time for this process to be completed, ensuring the next CEO is recruited and settles well before Frank’s departure. Frank established TMA in 2010 with a budget of US$60 million and had by close of 2020, mobilised over US$1.1 billion from TMA’s 11 donors for TMA’s successful programme.  Frank has led the organisation since its start in implementing an innovative and impactful aid-for-trade programme across 12 countries in Eastern, the Horn and Southern Africa. Over that time TMA has become a leading aid for trade agency globally.  Under his visionary leadership, the organisation has forged partnerships with partner Governments and trade agencies, Regional Economic Communities especially the EAC, the AFCFTA Secretariat, international trade organisations such as the WTO, multilateral agencies including the African Development Bank (AfDB), Trade Development Bank, the World Customs Organisation, UNCTAD and ITC, and the private sector The organisation aims to further expand its operations to support implementation of the AFCFTA over the coming years with its unique blend of trade facilitation partnerships supported by strong funding support from its growing donor base, commercial partners, and international foundations. Additionally, the organisation has secured a new funding envelope for West and Southern Africa...