TradeMark Africa (TMA) has launched a trading platform aimed at easing market and information access for women traders in East Africa after receiving $2 million (Sh261.8 million) in donor funds from the Canadian government through its philanthropy arm Global Affairs Canada. Dubbed iSOKO, the platform launched on Wednesday has been tipped to eliminate challenges that hurt operations for start-ups. The trade aid agency aims to hit 20,000 subscribed traders in the region by the close of this year. The e-commerce platform can be accessed through a mobile application, a website and a USSD code. Customers can view displayed commodities and business management where onboarded traders get to take charge of their sales through services such as bookkeeping and tracking orders. The trade aid agency said the platform is currently operational in five East African countries that include Kenya, Uganda, Tanzania, Rwanda and Burundi with at least 3,700 traders and 50 service providers have already signed up. In Kenya, the Kenya National Chamber of Commerce and Industry (KNCCI) serves as the country host for the platform. “Through our county chamber and Women in Business arm, we have onboarded 2,650 users onto the platform with information on over 100 commodities uploaded. Of this number, 34 are service providers and 25 orders have been processed so far,” stated KNCCI President Richard Ngatia during the launch. Canadian High Commissioner to Kenya Christopher Thornley touted women's involvement in trade and development as keys to unlocking poverty reduction. "Having women at the centre of how we...

THE modernisation of the Beitbridge Border Post through a private-public-partnership arrangement at a cost of US$300 million has the ultimate goal of facilitating a one-stop border post, reducing congestion and monitoring leakages and smuggling making it a preferred and efficient port of entry, an official has said. In an interview, Matabeleland South Province’s Director in charge of Economic and Investment, Mr Richmond Ncube, said the Government was pursuing the idea of a wholesome one-stop border post at Beitbridge after its modernisation was complete. The border is one of Africa’s busiest land ports with an estimated 25 000 people and 500 trucks passing through it on a daily basis. “We are seriously pursuing the idea of a one-stop border post to enhance efficiency in the movement of goods and services as well as plug leakages and smuggling. But the ultimate goal is to improve the travellers’ convenience and experience by removing all the bottlenecks to trade and commerce as well as tourism,” he said. He says the upgraded Beitbridge border post has already unlocked major spinoffs in trade and tourism. It has enhanced greater regional integration and co-operation, as outlined in the Regional Infrastructure Development Strategy. The project is seen as a milestone achievement in the operationalisation of the Integrated Beitbridge Development Master Plan and stands out as one of the key infrastructure projects that has been implemented by the Second Republic. Since its upgrading which is done at a cost of US$300 million, it has facilitated the efficacy in the...

A Ugandan trade expert has differed from the food security report that calls on Least Developed Countries (LDC’s) to open up trade and reduce on high tariffs as a strategy to improve food insecurity. The report was launched at the Doha summit in Qatar on Monday during the summit by the International Trade Centre which is a joint agency with World Trade Organization and UN’s. In the report, it emphasizes that in order to build resilience to food trade shocks, improving food market access for food imports by LDC’s must be given a preference. “In the midst of food crises or price spikes, LDC’s can mitigate the impact on food availability and affordability by facilitating imports and re-evaluating remaining tariffs,” Pamela Coke-Hamilton, the ITC director noted. Joyce Megolonyo in Gulu main market selling cereals. SEATINI and Trademark Africa advocated for empowerment of such entrepreneurs to boost food security. However, Jane S Nalunga the Executive Director of the Southern and East Africa Trade information and negotiations Institute (SEATINI) said in the context of LDC’s trade is necessary in relation to importing machinery like tractors to aid them to grow their own food. Nalunga told New Vision in Doha that if LDC’s are importing value-added products then that is not viable as it's likely to paralyze the small-scale producers The SEATINI boss who was in Doha to deliberate on enhancing the participation of LDC’s in International trade and regional integration. “If we are to strengthen the local producers, there is a need...

Experts yesterday observed that the commencement of the African Continental Free Trade Area (AfCFTA) provides opportunities to create more job opportunities and advance the work environment. They were speaking at the opening academic conference with the theme, ‘The Commencement of AFCTA: Opportunities for the Work Environment’ organised by the Chartered Institute of Personnel Management of Nigeria (CIPM) in collaboration with Lead City University, Ibadan. The vice-chancellor of the university, Prof. Aderemi Adeyemo, described the commencement of AFCTA as “a historic moment for the continent, and it presents us with a unique opportunity to transform the African economy and create new job opportunities. “I urge you all to engage in constructive dialogue and exchange ideas on how we can harness the opportunities presented by the AFCTA to create a more prosperous and equitable Africa. “Let us work together to ensure that the work environment is at the centre of our efforts to build a more prosperous and integrated Africa,” he said. The VC explained that the academic conference was designed to share critical knowledge and information on issues relating to the impacts of AfCTA on HR theory and practice, building an inclusive work environment and adaptable workforce, virtual work and employee well-being and implementation of AfCTA: Institutional Response and Framework. The president and chairman of the Governing Council of CIPM, Olusegun Mojeed, stated that there is a need to bridge the gap between the town and the gown, and between academic theories and strategic human resource management by providing a platform...

Summary EAC secretary-general requested for a 10-year Agoa extension at the US-Africa Leaders Summit. All EAC partner states are eligible for Agoa except South Sudan. ACC Kenya CEO says Amcham Business Summit to be held in Nairobi on March 29-30, 2023. The East African Community (EAC) wants the US government to make the rules governing access to their market more flexible under the planned renewal of the African Growth Opportunity Act (Agoa). The regional bloc, during its Council of Ministers Ordinary meeting held in February, made four new proposals to the Joe Biden administration to expand Agoa and make it more effective should the US Congress hasten its renewal before the 2025 expiry date. The proposals come in the wake of plans by the American Chamber of Commerce Kenya (AmCham), a network of American and Kenyan businesses, to hold its third edition of the Business Summit on US-East Africa Trade and Investment in Nairobi later this month. A report by the EAC Secretary-General Peter Mathuki to the council during its 43rd Ordinary Meeting has included four new proposals that would improve trade between the US and East Africa under Agoa. Dr Mathuki, who participated in the US-Africa Leaders' Summit in Washington DC last December, said the EAC took the position by the African presidents that Agoa be extended for 10 years, to 2035. [caption id="" align="alignnone" width="1160"] US President Joe Biden (C) with African leaders during a group photo session at the US-Africa Leaders Summit on December 15, 2022. PHOTO...

DOHA, 7 March — Despite the massive expansion of trade and investment over the past decades, least developed countries still face considerable challenges in effectively integrating into the global trading system and benefiting from the opportunities afforded by international trade and global value chains, speakers stressed today during the fourth of a series of high-level thematic round tables of the fifth United Nations Conference on the Least Developed Countries. Opening the meeting on “Enhancing the participation of least developed countries in international trade and regional integration”, Évariste Ndayishimiye, President of Burundi and Co-Chair of the eight round tables, noted that the 2030 Agenda for Sustainable Development defines international trade as “an engine for inclusive economic growth and poverty reduction”, which helps promote sustainable development.  Almost eight years into the implementation cycle of the Sustainable Development Goals, legitimate concerns remain, he said, especially for least developed countries which remain on the margin of global trade flows and global value chains, witnessing a widening gap with advanced economies and emerging markets.  Over the past decade, these countries’ share of merchandise export has been static at 1 per cent and their share of exports of commercial services has hovered around 0.7 per cent. “These numbers demonstrate that least developed countries are yet to integrate into the global trading system,” he said.  Turning to the vulnerable situation of landlocked States, such as his own, he voiced support for South-South cooperation and noted that Burundi has joined the construction programme of a railroad linking the United Republic of...

In Summary This is part of the Enhancement of Governance and Enabling Environment in the ICT sector. The programme is being supported with a €8million (Sh1.1 billion) funding from the European Union, extended in 2021. The Common Market for Eastern and Southern Africa (COMESA) is pushing to have its member states implement a One Network area (ONA) to drive eCommerce growth. This is part of the Enhancement of Governance and Enabling Environment in the ICT sector (EGEE-ICT) programme in the Eastern Africa, Southern Africa, Indian Ocean (EA-SA-IO) region that also seeks to implement an eCommerce framework. The programme is being supported with a €8million (Sh1.1 billion) funding from the European Union, extended in 2021. It is a four-year programme aimed at supporting the effective review and development of various regional policy and regulatory frameworks in a harmonised manner that will contribute to enhancing competition, improved access to cost effective and secures ICT services. It is being implemented in five regional economic communities–COMESA, East African Community (EAC), Intergovernmental Authority for Development (IGAD), Indian Ocean Commission (IOC) and Southern Africa Development Community (SADC). COMESA will play the lead role in the implementation. This will be similar to the EAC platform, where member states have been implementing measures to harmonise roaming rates. Kenya, Rwanda, Uganda, and South Sudan have implemented the measures, which encompasses harmonised tariffs on mobile voice calls, SMS and data transmission within the EAC. “It is not an easy task, it requires political goodwill but iam sure if we can develop...

Crucial mining sector and infrastructural projects in the Democratic Republic of the Congo will receive an initial investment of €50 million euros from the European Union  This is in line with EU’s Essential Raw Minerals Act, which aims to secure crucial raw resources like lithium, cobalt, manganese, and rare earths required for electric vehicles and wind turbines DRC’s economy is growing, with 6.1% GDP growth expected in 2022 and 6.7% expected this year, according to the most recent IMF data The crucial mining sector and infrastructural projects in the Democratic Republic of the Congo will receive an initial investment of €50 million euros from the European Union. The investment was revealed at the inaugural Kinshasa Economic Forum, which included representatives from France, the EU, and the DRC. French President Emmanuel Macron was in attendance together with the European Commissioners for the Internal Market and International Partnerships, Thierry Breton and Jutta Urpilainen, as well as more than 50 CEOs of French companies. A component of the EU’s Global Gateway programme, which seeks to offset China’s Belt and Road Initiative, is investment in geological mapping, urban infrastructure, and digital education initiatives in the Democratic Republic of the Congo. EU’s Global Gateway programme, which has a budget of US$300 billion, mostly goes towards vital infrastructure projects in African nations as well as investments in the energy and manufacturing industries. EU considers DRC’s potential for crucial minerals Despite having an estimated €22.6 trillion worth of raw materials reserves, including almost half of the world’s...

Dar es Salaam, Tanzania | Xinhua | The East African Business Council (EABC) has applauded Tanzanian President Samia Suluhu Hassan for allocating three hectares of land for building its headquarters in the East African nation’s northern city of Arusha, the EABC said in a statement late Friday. Hassan on Friday handed over to EABC CEO John Kalisa a title deed for a plot of land covering three hectares situated at Mateves in Arusha free of charge. “The plot of land will enable East African Business Council to build its headquarters in Arusha, which is also the headquarters of the East African Community (EAC),” said the statement. The building of the EABC headquarters will go a long way in enabling the EABC to execute its mandate as the voice of the private sector in East Africa and driving the vision of a borderless East Africa for business and investment, said the statement. According to the statement, the EABC’s mission is to advocate for a conducive business environment and promote sustainable private sector-driven growth in the EAC region. The statement said the EABC was deeply committed to partnering with the government of Tanzania in boosting intra-EAC trade, industrialization, investments, and job creation. Read original article

Trade has never been more important for U.S. agriculture, and 2022 was a very good year in that department. Brian Kuehl, the executive director of Farmers for Free Trade, says the 2022 results were a “double-edged sword” because of higher retail value and lower overall volume. The question is, what’s ahead in 2023? The American agricultural sector posted its best export year ever in 2022. International sales of America’s farm and food products reached $196 billion. Final trade data from the Commerce Department shows that U.S. agricultural exports increased 11%, or $19.5 billion, from the previous record set in 2021. “Inflation has driven up commodity prices, and much of that has been driven by the war in Ukraine,” Kuehl said. “Supply chains coming out of COVID have also made things very challenging.” He said the good news is America is exporting more by value and, in some sectors, more by volume too. Farmers can sell their products for higher prices, but the challenge is input costs have gone up so much in recent years. “Even with the good trade numbers from last year, farmers are still having a hard time making a go of it,” he said. While 2022 was a record value year, USDA predicts 2023 may look different as American food and ag will be operating at a trade deficit through the rest of this year. “It’s not a huge trade deficit,” Kuehl said. “But I think any trade deficit should be troubling,” he said. Until 2019, the...