Lake Victoria transport is set for improvement after the Treasury allocated Sh650 million for the acquisition of new ferries and communication systems in the new financial year starting in July. Budget documents by the Treasury show that Sh300 million will be spent on acquiring new ferries while Sh350 million will finance the installation of maritime communication equipment. The Treasury did not disclose the number of ferries to be purchased. A further Sh20 million has been marked for the development of a shipyard in Kisumu. The upgrade plans come in the wake of scheduled improvements on five small ports in Lake Victoria to support the operations of the newly revamped main Kisumu port as part of a plan to grow East Africa trade. The Kenya Ports Authority (KPA) and Trade Mark East Africa said earlier this year that Sio Pier, Port Victoria, Asembo Bay, Kendu Bay, and Homa Bay satellite ports will be upgraded to spur trade within the lake. “The rehabilitated landing sites will serve the local communities by enabling transport between Kisumu port to these small ports by lake through the use of small RORO (roll-on, roll-off vessels or barges. Currently, the communities on the shores of Lake Victoria are primarily served by road sometimes travelling over long distances which could easily be covered through Lake Victoria” KPA said. RORO vessels are primarily designed to carry wheeled cargo, such as cars, motorcycles, trucks, semi-trailer trucks, and buses. The ongoing refurbishment of the main Kisumu port as well as the...

President Paul Kagame, on Tuesday, May 9, received Pamela Coke-Hamilton, Executive Director of the International Trade Centre (ITC), and her delegation for a discussion on trade, investment, and Africa’s position in the changing face of global trade. The ITC is a multilateral agency that has a joint mandate with the World Trade Organization and the United Nations through the United Nations Conference on Trade and Development. https://twitter.com/UrugwiroVillage/status/1655920868717887490?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1655920868717887490%7Ctwgr%5E90379c7e42080d98bd534651c6eb427a329929e9%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.newtimes.co.rw%2Farticle%2F7363%2Fnews%2Fbusiness%2Fkagame-international-trade-centre-boss-discuss-trade-investment One of the multilateral agency’s flagship programmes called ‘SheTrades’ in Rwanda supports women in the business arena in terms of access to key knowledge, resources, and networks to grow and expand their entrepreneurial footprints. It also supports policymakers on inclusive policy reforms and leverages public and private partnerships to amplify the impact of their work. The multilateral agency entered Rwanda in 2021, through an agreement with the Private Sector Federation (PSF) Chamber of Women Entrepreneurs, in collaboration with the Rwandan Ministry of Trade and Industry (MINICOM). SheTrades is operational in 38 countries across the globe, enabling over $380 million in business and investment opportunities for women-led businesses since its inception in 2015. Hamilton and her delegation also met with the leadership of TradeMark East Africa and some women entrepreneurs in the specialized cluster of PSF who benefited from the SheTrade programme.   Read original article

The World Bank has disclosed that in a time of energy transition and rising demand for metals and minerals, resource-rich governments in Sub-Saharan Africa have an opportunity to better leverage their resources to finance their public programmes, diversify their economy, and expand energy access. This is contained in Africa’s Resource Future, a World Bank report launched on Wednesday, which finds that on average countries capture only about 40 percent of the revenue they could potentially collect from natural resources. “In other words, at a time when countries are burdened by slow growth and high debt, governments could more than double revenues from natural resources such as minerals, oil, and gas by adopting a better set of policies, implementing reforms, and investing in better fiscal administration and promoting good governance,” the World Bank said. It added that full taxation of natural resources is also important to charge the full cost of environmental and social impacts not always fully covered by producers, including petroleum resources, warning that “failing to do so can act as an implicit production subsidy and raise carbon emissions.” James Cust, Senior Economist in the World Bank Africa Region and co-editor of the report said, “Maximising government revenues in the form of royalties and taxes paid by private natural resource industries, alongside attracting new investment, would offer a double dividend for people and planet by increasing fiscal space and removing implicit production subsidies.” The Bank noted that the prospect of higher revenues is particularly welcome in countries that find...

TradeMark Africa (TMA) in partnership with the Uganda Women Entrepreneurs Association Ltd (UWEAL) have launched iSOKO, an integrated information platform for women traders. The innovation was developed through the support of Global Affairs Canada. A web and mobile platform for women traders, iSOKO will provide a regional marketplace to buy and sell goods, vital trade and market information, business management tools including bookkeeping, and networking opportunities with fellow traders. This innovative tool is part of TradeMark Africa’s Women in Trade programme. The platform, which was unveiled in Kampala today, will serve to bring together women traders from five countries in the East African Community — Kenya, Uganda, Tanzania, Rwanda and Burundi. The chief guest at the event, Uganda’s First Deputy Prime Minister and Minister for East African Community Affairs Rebecca Kadaga, was represented by Uganda’s State Minister for East African Affairs Magode Ikuya, who said iSOKO was important in the overall integration of the East African Community. “We need to integrate our people in the economic field. Trade is a very important aspect of doing that.” Designed to support women in trade across East Africa access and use vital and simplified information, iSOKO will unlock opportunities for participation, formalisation of businesses and growth in trade value. The iSOKO platform is an integrated information portal designed to support women in trade across East Africa to access and use vital information that is pertinent to their trade transactions. By ensuring easier access to information, iSOKO will be instrumental in promoting market integration...

What you need to know: Among East African member states, the Africa Trade Index report shows, Uganda has a  better trade environment compared to Kenya and Tanzania The Africa Trade Index by South Africa’s Standard Bank, which also trades as Stanbic in some countries, indicates that Uganda has the best trade-enabling environment among East African member states. The index, which was compiled between August and September 2022 to provide a comparative view of enablers and challenges to trade across 10 African markets, indicates that Uganda, performed better than Kenya and Tanzania, improving its position from sixth to fourth due to improved import and export growth prospects, ease of access to credit and government support on trading activities. Tanzania and Kenya are ranked at fifth (same position as the previous study) and seventh respectively. Kenya slipped from the fourth position attained in the previous ranking, due to a significant decline in credit terms and import growth prospects. The index ranks South Africa at position number one, followed by Ghana and Namibia, respectively. The study surveyed 2,554 businesses in South Africa, Ghana, Uganda, Namibia, Tanzania, Mozambique, Kenya, Nigeria, Zambia and Angola. “Significantly more businesses in Uganda [up from 45 percent to 52 percent] feel that the government is encouraging cross-border trading activities,” the report reads in part, noting that trader business confidence, which is a function of economic performance in Uganda remained relatively stable at 54, the same score the previous assessment conducted between December 2021 and January 2022. However, respondents noted...

The European Union (EU) has invested GH¢75 million (€6.2 million) to help boost the competitiveness of the country's exports on the international market. The investment, made in the last four years, focused on three main value chains which included cassava, fruits (mango and pineapple), cosmetics and personal care products. It was a contribution to the West Africa Competitiveness Programme (WACOMP), a partnership initiative between the Economic Community of West African States (ECOWAS) and the EU. The programme seeks to strengthen the competitiveness of West African products and to enhance the integration of ECOWAS countries into the regional and international trading system, including the African Continental Free Trade Area (AfCFTA) The EU Ambassador to Ghana, Irchad Razaaly, who made this known at WACOMP Ghana SMEs Product Exhibition in Accra yesterday, observed that the investment would help Ghanaian businesses to build  better access  and become more competitive in regional and international markets. “The EU has contributed around GH¢75 million to the programme, with the aim to boost the competitiveness of Ghanaian exports and support sustainable production and processing. “We are focusing on three main value chains: cassava, fruits (mango and pineapple), cosmetics and personal care products,” he said. The exhibition was held by WACOMP in partnership with the United Nations Industrial Development Organisation (UNIDO) for more than 50 EU-supported SMEs of fruits, cassava and shea butter products. Some of the firms that showcased their products included Unique Solution Farms, Ghana Home Foods, NyCa Pro Beauty, Leam Shea Products, Agape Cosmetics, Exotic and...

What you need to know: Our wide-ranging activities have helped galvanize support from local and international organizations to assist women entrepreneurs overcome enormous challenges. Additionally, we have carried out strong advocacy for enactment of enabling legislation and policies. We have also established networks and marketing linkages in support of women traders. Uganda occupies a unique position within the expanded East African Community (EAC)– and so do its women. No other country has the singular honour of being completely surrounded by EAC members. This geographical truth gives Uganda the distinction of being at the centre of the region’s cultural and business agenda, presenting numerous opportunities for the country’s women entrepreneurs. Indeed, Kampala is already a bustling trade hub of sorts for the region. It serves not only as a transit point for trucks transiting to the farthest points of the EAC, but is itself an attractive source of textiles, agricultural products, and other goods for traders from Kenya, South Sudan, and elsewhere. Yet, even with these natural advantages, it is never smooth sailing with the vast majority of our women traders. Patriarchal, misogynistic attitudes and traditions consign our women to the bottom ranks when it comes to property ownership, perceived creditworthiness, bookkeeping skills, and as serious contenders for tenders and business opportunities. It is such circumstances that led to the founding of the Uganda Women Entrepreneurs Association Ltd (UWEAL). In the years since its formation in 1987, it has helped in breaking down the walls and barriers that prevented women from...

Addis Ababa, April 26, 2023 (FBC) – African Continental Free Trade Area (AfCFTA) agreement will serve as a significant source of income to Ethiopia and other African countries, Minister of State at the Ministry of Trade and Regional Integrations (MoTRI), Kassahun Gofe, said. Awareness creation training to stakeholders regarding the African Continental Free Trade Area agreement, the negotiation process and its further implementation has kicked off today in Addis Ababa. The training is organized by the Ministry of Trade and Regional Integrations in collaboration with Trade Mark Africa, it is indicated. During his opening remarks, the Minister of State for Trade Integrations and Export Trade Promotion, Kassahun Gofe, emphasized that AfCFTA offers massive significance to Ethiopia and other African countries as a source of income. He pointed out that awareness raising on AfCFTA will be delivered in all regions as it is of great benefit to the implementation of the continental agreement. Read original article

Tanzania and the Netherlands are among the countries with a long shared history of cooperation over more than 50 years. For several decades, we have witnessed the cooperation between Tanzania and the Netherlands taking a new shape where in recent years it has more shifted to trade and investment. Ambassador of the Netherlands to Tanzania, Wiebe de Boer in his interview with the Citizen newspaper at his office in Posta, Dar es Salaam said that the new strategy of cooperation concentrates on improving the enabling environment for business, stimulating the technification and export drive of the Tanzanian agriculture sector,      investing in logistics and in sustainable tourism. Emphasizing the issue, Ambassador de Boer highlights the visit of Queen Maxima in October, 2022 who came to Tanzania in her role as Special Advocate of the Secretary General of the United Nations for  financial inclusion. "During her visit, Queen Maxima held talks with President Samia, the Minister of Finance, the Governor of the Central Bank of Tanzania and other officials. Thanks to succesfull Tanzanian policies a lot of small entrepreneurs have succeeded in getting access to the financial sector and they discussed strategies to further improve this., " he explained. The embassy also works closely with the Tanzanian Startup Association (TSA) with the aim of stimulating the existence of a good  startup ecosystem which enables innovation, job creation, entrepreneurship, attracting investment and other benefits to Tanzania’s economy. Under such a focus, the embassy also supports the recently established Fintech Association, TAFINA To  support...

Stakeholders trading on cereals in the East African Community region have converged in Kenya for a two day meeting to brainstorm on issues affecting the sector in the wake of acute deficit of the commodity. The meeting that has brought governments officials, farmers and the business community from Kenya, Uganda, Tanzania, Rwanda, Burundi , Botswana, Zambia and DRC are set to propose ways of unlocking the bottlenecks and come up with interventions that will promote seamless grain food trade across the re to spur development. Speaking during the forum ,East African Grain Council (EAGC) Gerald Masila said that trading in the region is mostly informal with approximately two-thirds of food trade done through informal channels. Trade, he further said was not structured with multiple layers of value chain players, which leads to relatively high transaction costs, pricing is also not underpinned by market fundamentals and thus being highly speculative at all levels. “Solutions to local trade will have to look at issues such as regulations, logistics and also scale as this is the only way to bring down cost of trading locally and also get much more from local trade”, Masila said. He noted for example the reason maize importers in Kenya are not able to access white non –GMO maize that would help reduce the cost of “unga’ is  that globally there is more GMO maize produced than the non –GMO. “ The government allowed for duty free importation of maize to bridge the gap and to bring down...