In Summary In Kenya, women make about 52 percent of the country’s population and about 30 percent of registered businesses are women-owned. A third of registered SMEs globally are estimated to have been created by women, and about 100million women run established businesses. More than 20,000 women traders from across East Africa will be benefit from a new platform that seeks to link them with the markets for their products. The Kenya National Chamber of Commerce and Industry (KNCCI), Canada and Trademark Africa joint initiative will be undertaken through iSOKO, a platform designed to support women traders in accessing information and selling their produce. Obstacles ranging from limited access to credit facilities, labour and skill gaps, exclusion from key networks, as well as social and legal constraints often hit women. According to TradeMark Africa chief of programmes, Allen Asiimwe, women will now be able to identify the regions their markets are based to enable them make better business decisions. “So far we have reached 3,700 traders who have signed up but we look to reach 20,000 traders across Kenya, Uganda, Tanzania, Rwanda and Burundi being the first pilot by December of 2023,” said Asiimwe. However, the platform is yet to include a currency or mode of payment that cuts across the countries. The Secretary of Trade, in the Ministry of Trade, investments and Industry, Bruno Linyiru said Kenyan women traders face a number of challenges in accessing markets. These include lack of real time information on market prices, demand and...

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...

Summary After coming into office on March 19, 2021, President Samia Suluhu Hassan has time and again made it clear that she wants to lead a country where businesses flourish Dar es Salaam. Tanzania has witnessed a marked improvement in the business climate in the past two years, thanks to political will at the highest office in the land. Since coming into office on March 19, 2021, President Samia Suluhu Hassan has made it clear that she wants to lead a country where businesses flourish. Addressing Parliament for the first time in April 2021, President Hassan dedicated almost a third of her 90-minute speech explaining what her government would do for Tanzania to regain investors’ trust. She also dwelt on how economic diplomacy, incentivising strategic projects, fighting corruption, removing red tape in issuance of work permits and approval of investment projects, among other measures, would boost investment to spur economic growth and reach the aspired eight percent annual growth rate. President Hassan promised that her administration would review laws and regulations governing investment to make Tanzania more attractive to investors. This was apparently based on Tanzania’s consistent poor showing in the World Bank’s Doing Business Reports. The country’s highest position even was in 2016 when it was ranked 132nd globally. Since then, it has been dropping, occupying the 137th, 144th and 141st positions in 2017, 2018 and 2019, respectively. The ranks were below regional peers Kenya, Rwanda and Uganda, which had initiated a number of reforms during the period under review....

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