News Categories: Burundi News

ECOWAS Member States Meet To Review Development Of The African Trade Observatory

The ECOWAS Commission, in collaboration with the International Trade Centre (ITC), organized the 2nd virtual Regional Workshop on the African Trade Observatory (ATO) on 8 September 2021 for Experts from Ministries of Trade and National Statistics Agencies, as well as representatives of Customs Authorities to review status of development of the Observatory. The African Trade Observatory, is one of the five African Continental Free Trade Area (AfCFTA) operational instruments along with the rules of origin; the online negotiating forum; the monitoring and elimination of non-tariff barriers; and the digital payment system, that was launched at the African Union 12th Extraordinary Summit held in July 2019 in Niamey – Niger. In his opening remarks, Mr. Kolawole SOFOLA, Acting Director of Trade, on behalf of H.E. Jean Claude KassiBrou, President of the ECOWAS Commission, and Tei KNOZI, Commissioner for Trade, Customs and Free Movement, recalled the importance of the AfCFTA in achieving Sustainable Development Goals, the African Union (AU) Agenda 2063 and deepening the regional integration agenda. Before he declared the meeting open, he highlighted the expected benefits of the ATO for the ECOWAS region which include increased competitiveness, market opportunities for traders, and development of regional value chains and new sectors. This second regional meeting on the African Trade Observatory provided an update on the operational development of the observatory. During the meeting, ITC provided participants with an overview of the observatory, including its main features and how national experts can engage with the platform. The African Trade Observatory seeks to...

Industrial farming model is not the solution to Africa’s hunger problem

SUMMARY The theme for this year’s African Green Revolution Forum (AGRF) to be held in Nairobi from September 6-10 is ‘Pathways to Recovery and Resilient Food Systems’. AGRA has been funded to date by governments and major international donors such as the Bill and Melinda Gates Foundation to “transform African agriculture from a subsistence model to strong businesses that improve the livelihoods. The theme for this year’s African Green Revolution Forum (AGRF) to be held in Nairobi from September 6-10 is ‘Pathways to Recovery and Resilient Food Systems’. Yet 15 years after its convener, the Alliance for a Green Revolution in Africa (AGRA) was founded in 2006, questions remain about the viability of its high inputs model in addressing Africa’s food insecurity. AGRA has been funded to date by governments and major international donors such as the Bill and Melinda Gates Foundation to “transform African agriculture from a subsistence model to strong businesses that improve the livelihoods of the continent’s farming households”. However, some of the countries where AGRA has focused its efforts have seen continued poverty. African civil society, faith leaders and supporting organisations across Africa have raised concerns about the industrial farming initiatives in a letter to the Gates Foundation. Our view is that we do not need farming ‘solutions’ but rather support to locally appropriate solutions, working in partnership with small-scale farmers in ways that increase climate resilience. TOP-DOWN APPROACHES As can be seen from other top-down approaches that have failed in Africa, such as UNFCCC REDD+...

AWTN, AfCFTA Secretariat sign partnership to boost intra-regional trade and investment

The Africa World Trade Network (AWTN) has partnered the Africa Continental Free Trade Area (AfCFTA) Secretariat to accelerate intra-regional trade and investment through exhibitions, meetings and events. The partnership seeks to mobilise private sector actors across Africa to drive the attainment of strategic objectives that underpin the Africa Continental Free Trade Area Agreement. The partnership between AWTN and the AfCFTA Secretariat is meant to work towards three common objectives that support continental trade and investment promotions across Africa and promote the overall objectives of the Africa Continental Free Trade Area Agreement: To co-organise and host forums that support continental trade and investment promotions in Africa and promote the overall objectives of the AfCFTA Agreement To support the growth and development of Africa’s commercial community; and To collaborate on matters of common interest, in the pursuance of enhancing intra-trade in the Continent Speaking at the signing ceremony, Board Chair of AWTN, Otwasuom Osae Nyampong VI, said: “Intra-regional trade promises a real win for Africa, and the AfCFTA Secretariat is at the forefront of this significant progress in the continent’s history; it is a second Pan-African victory after Independence. AWTN on its part has recognised this watershed moment and will act as a catalyst to boost trade relations among member states and businesses across the continent.” Otwasuom Osae Nyampong VI emphasised: “Like the AfCFTA Secretariat, AWTN is headquartered in Accra, which has been recognised as a beacon for transformative development in the sub-region. In this partnership, AWTN commits to initiate and escalate...

Africa Can Become a Maritime Hub for Global Trade

The International Chamber of Shipping (ICS) is the world's leading shipping organization, accounting for about 80 per cent of global merchant tonnage. An ICS study published in March this year titled Protectionism in Maritime Economies found that reducing restrictive trade policies could boost Africa's post-COVID-19 economic recovery by billions of dollars. For Africa Renewal, Finbarr Toesland interviewed ICS Secretary-General Guy Platten on a range of shipping and trade-related issues, including how the organisation can support the implementation of the African Continental Free Trade Area (AfCFTA). The interview was edited for brevity. Africa Renewal: Let's talk about the ICS' recent study. What were its most striking findings, particularly those relating to trade? What we found in the report is that non-tariff barriers have a disproportionate effect on GDP and getting rid of them could make a considerable difference in terms of actually increasing a country's wealth. We know that African nations could boost their prospects of a post-COVID-19 economic recovery by removing some of these restrictive maritime trade policies. Currently, the global maritime trade is worth $14 trillion. Africa has a lot of potentials to become a maritime trade hub. We are suggesting that if members of the African Union were to just halve their trade restrictions, that could lead to a 1 per cent increase in GDP for an average African economy. What are some of the measures that countries can take to improve trade? Protectionist measures really hinder free trade. There are many administrative hurdles to overcome in many countries just...

Tanzania: Eabc Out to Boost Public, Private Sector On Intra-Trade

.Lauds JPM for keeping economy open amid Covid-19 THE East African Business Council (EABC) has called for a deeper collaboration between the Public and Private sectors to boost East African Community (EAC) intra-trade. Also, the council has lauded President John Magufuli for a job well done, especially in spearheading major economic reforms in the country. Amid the global economic disruptions caused by the Coronavirus pandemic, EAC private sector wants to steer better relations as a strategy to boost trade and investment in the region. The leaders noted that the decision by President Magufuli to keep the economy open, offered the private sector a major relief in terms of business resilience as it also strengthened local supply chains. EABC Chief Executive Officer (CEO), Dr Peter Mathuki said that is the spirit for the region - both public and private sector to move forward and business to prosper. It came about after consultations of CEOs at a roundtable meeting organized by the EABC in collaboration with German Development Agency (GIZ) with a theme 'Creating Perspectives Project', convening companies' CEOs with an aim of deliberating on approaches that the private sector can explore to revamp businesses amid the pandemic. Tanzania took absolutely a different approach in dealing with Covid-19, by President Magufuli who seeks a second term in office led the nation in style, by ruling out lockdown, letting business go on but with taking reasonable protective measures and it paid handsomely. In spite of the situation in the bloc, Africa and world...

World Trade Organization: How an African head could make a difference

With three of the eight candidates to become the next leader of the World Trade Organization (WTO) coming from Africa, BBC Africa business editor Zawadi Mudibo looks at what difference having one of them at the helm would make for the continent. There is a growing feeling among African diplomats that someone from the continent should be at the helm of one of the world's top economic institutions. Whereas an American has always led the World Bank and a European has always been at the head of the International Monetary Fund, an African has never taken an equivalent position. But if one from Nigeria's Ngozi Okonjo-Iweala, Kenya's Amina Mohamed or Egypt's Abdel-Hamid Mamdouh emerges from the long selection process as the WTO's next director-general, the continent can feel that it is playing in the same league as the rest of the world. image captionGarment factories, like this one in Kenya, could benefit if trade opened up The WTO sets the rules for global trade and adjudicates in trade disputes between nations. It is also, according to its website, supposed to "open trade for the benefit of all". The Geneva-based organisation's ability to get global agreements of basic principles that every country signs up to has been hamstrung in recent years but the WTO leader has influence and a bully pulpit. The director-general attends G7 and G20 meeting and can broker disputes between world leaders. But is there more to be gained for the continent aside from the diplomatic profile? 'Trade...

East Africa Market and Trade Update, August 2021

International prices of maize, wheat and rice dropped in June 2021, but remained well above their recent 5-YA values. The decline was due to improved production prospects and recent harvests for the first two and reduced demand for the latter. Staple food prices in the region trended seasonally in 2021Q2. While they increased modestly in Burundi, South-Central Somalia and Ethiopia, prices accelerated exceptionally in Sudan but decreased in South Sudan, Kenya, Uganda and Rwanda in the second quarter. Cross-border trade volumes improved in 2021 Q2 due to increased supplies from the June harvests and slight improvement in availability of hard currency through bi-weekly actions of dollars in South Sudan. Tanzania and Uganda continued their regional cross-border exports dominance. Read original article

Cross-border traders irked by high Covid-19 test costs

Arusha. Charges on Covid-19 tests remain high for the poor women traders along the Burundi and Democratic Republic of Congo (DRC) common border. They told a team of business organisations from the region that visited the area on Monday that the fees were impacting their businesses. ‘Reduction of the test charges at the borders would enable women traders across the borders to have enough cargo to run their businesses,” said Ms Kitumaini Bagula Esperance, one of their leaders. She said currently, the Covid-19 test is $30 per day and for each time that traders cross into Burundi, and $5 for Burundi cross border traders entering DRC. Other challenges the traders face include physical verification of goods. According to her, this causes delays, thus increasing the cost of doing business. The Covid-19 test charges at the Bujumbura airport are $100, and this is blamed for delays to passengers using the facility. Pleas have been made to reduce them to $50 per passenger. Ms Esperance raised the women traders’ concerns during the visit to the Katumba-Kavivira border between the two countries by officials from the East African Business Council (EABC). Others were from the Association of Burundi Traders (ACOBU). They were there to assess the free movement of goods, services and people. It emerged that although the Katumba-Kavivira was a vibrant route for cross border trade, it has been highly impacted by Covid-19 pandemic. Additionally, the area has been subjected to flooding along the Rusizi river which forms the Burundi/DRC border and...

Experts demand digital solutions ‘designed by Africa, for Africa’ to drive AfCFTA

For the African Continental Free Trade Area (AfCFTA) to see true prosperity, there is a need for stakeholders on the continent to devise digital solutions “designed by Africa and used by Africa”. This was the principal takeaway from the array of experts who shared thoughts at the maiden edition of the Africa Digital Conference, which had as its theme ‘The Digital Challenge: Africa’s Opportunity Under AfCFTA’. It was unanimously agreed that wholesale adoption of imported digital solutions, particularly those which take very little of the continent’s peculiar dynamics into consideration, would represent a lost opportunity for the continent to adequately take charge of its affairs and see some of its brightest persons miss out on designing home-grown solutions for Africa. According to the Minister for Communication and Digitalisation, Ursula Owusu-Ekuful, indigenous solutions are crucial for the success of cross-border trade and payment systems, as well as the delivery of equitable social services to people across socio-economic boundaries. Beyond digitalisation, she noted, there is also the need to systematically create opportunities for homegrown start-ups in the space. In a speech read on her behalf, she said: “I believe that if governments can support a vibrant computer hardware manufacturer in one country to supply various schools across the continent, while reciprocating the support to other competitively-advantaged companies in sister countries in other areas of expertise, there will be an increase in the scale upon which these companies can viably establish or cement their operations. “These are truly the building blocks toward realising...

G20 Compact with Africa meeting assesses Africa’s progress in fighting Covid-19

The Compact with Africa is a G20 initiative that promotes macroeconomic, business and financing reforms to attract more private investment in Africa, including in infrastructure. Participants of a G20 Compact with Africa meeting this week assessed Africa’s progress in fighting the Covid-19 pandemic. “We are meeting at a pivotal time in the relationship between Africa and the rest of the world,” said Italian prime minister Mario Draghi. The Compact with Africa is a G20 initiative that promotes macroeconomic, business and financing reforms to attract more private investment in Africa, including in infrastructure. The conference brought together heads of state of the 12 Compact members and institutional partners, including the African Development Bank and the International Monetary Fund (IMF). It involved strategy discussions around attracting higher inflows of foreign direct investment to Africa and the urgent imperative to develop vaccine manufacture capability on the African continent. Securing the continent’s recovery from the impacts of Covid-19 is one of the Compact’s near-term objectives. Vaccine inequity was a recurring theme, and heads of state shared reforms that they had undertaken as part of the initiative. Closer international cooperation was urged to address climate change, debt levels and investment shortfalls. President Cyril Ramaphosa of South Africa emphasized that “Africa will not be able to recover until Africans are vaccinated.” President Emmanuel Macron said France had committed to providing $10 million vaccine doses for Africa. African Development Bank President Akinwumi Adesina said the African Development Bank had committed to investing $5 billion to support vaccine...