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...

What you need to know: KRA has put in a request for the parcel to Turkana County which is the custodian of community land in the region The need to establish the new post was informed by a countrywide survey that identified new potential border crossing points Uncontrolled entry and exit of people along the border was contributing to loss of revenue and influx of counterfeits, a problem that the new border point will stem The Kenya Revenue Authority (KRA) is seeking 50 acres of land from the Turkana County Government to put up a new One-Stop Border Post between the country and Ethiopia in a bid to stem revenue losses and smuggling of counterfeits. Through the Border Control and Operation Coordination Committee (BCOCC), the taxman has put in a request for the parcel to Turkana County which is the custodian of community land in the region. The planned entry and exit point will be at Todonyang in Turkana North Constituency, and is expected to enhance cross-border movement within East Africa Community member states as well as improving the flow of trade. It is also expected to open up Northern Kenya and stem smuggling of goods through the porous border. Border Management Secretariat Director Kennedy Nyaiyo said the need to establish the new post was informed by a countrywide survey that identified new potential border crossing points. "Todonyang was among the five points that were identified and approved by the National Advisory Security Committee for establishment of a customs border station....

No less than 716 out of 796 (88.9%) of NTBs registered in the online reporting system implemented by the three regional economic communities (RECs), COMESA, East African Community and the Southern Africa Development Community have been resolved, leaving only 80 NTBs left unresolved. The main NTBs include restrictive licensing, permitting, and other requirements applied at the border. Barriers behind the border, such as unwarranted technical barriers to trade and sanitary and phytosanitary measures are equally prevalent. For the Economic Community of West African States (ECOWAS) region, the challenge has been various NTBs in the form of infrastructure, language, movement of people and goods among others. African Union Commission Deputy Chairperson Dr. Monique Nsanzabaganwa, in a recent report on visa openness, noted that human mobility is key to Africa’s integration efforts, as such, any limitation discourages innovation and stymies the formation of regional value chains. “It is not enough to agree on rules of origin that promote ‘Made in Africa’ products. For the AfCFTA to succeed, non-tariff barriers to trade must be dismantled, too. “Among other things, Africans must be free to move around the continent without being denied the right to board on planes, applying for costly and time-consuming visas, which are not readily available electronically, to study, trade, and develop their businesses,” Nsanzabaganwa said. Also, the African Development Bank Group Acting Vice President in charge of Regional Development, Integration, and Business Delivery, Marie-Laure Akin-Olugbade, remarked that the free movement of people creates business and stimulates intra- and interregional trade....

Businesses within East Africa have urged governments in the region to address key challenges cross-border traders face, which they say will impede exports to the new African Continental Free Trade Area (AfCFTA). The businesses observed that while the AfCFTA relies on working regional economic blocs such as the East African Community (EAC) market for proper implementation, traders still face hurdles within the regional bloc. Drawn from different East African countries under the East African Business Council (EABC), business leaders observed that the region has a huge advantage to reap from the AfCFTA, having three out of the eight countries participating in the guided trade initiative- a pilot programme to test the viability of AfCFTA. “We need that deliberate government commitment, the manufacturers, the traders are committed, but we need that to be complemented and supported by governments in terms of promoting supporting and nurturing industries,” said EABC CEO John Kalisa. The businesses complain about non-tariff barriers, including border controls that frustrate trade, which a World Bank report also indicated are likely to be the biggest barrier to free trade in Africa. The Kenya Private Sector Alliance said there are efforts to review policies that currently hinder Kenyan traders from accessing the new market, due to impediments the country had placed on businesses outside its trading blocs. “We have a lot of national policies and domestic laws which we need to scan and ensure that they are aligned with our commitments at the region,” said Kepsa deputy chief executive Victor Ogalo....