TradeMark Africa has announced that it will inject about $90m (about Shs 261bn) to promote infrastructural development projects in the region. The announcement came after some data showed that trade in the region had picked up partly as a result of the ease with which cargo is cleared throughout the different corridors, an initiative that TradeMark Africa was active in facilitating. “This year we are focusing [to invest] around the same about $85 to $90m. The results presented in this annual report point to an ever-improving trade environment which is expected to spur investments and ultimately benefit the citizens of East Africa,” said Frank Matsaert, the CEO TradeMark Africa. He continued: “TMA is playing an important role as a catalyst in mobilizing around $600 million at Dar es Salaam port to improve its performance through better infrastructure and port operations. Our partnership at both Mombasa and Dar es Salaam ports involves an innovative approach, mixing hardware and software solutions.” Matsaert was speaking at the launch of their annual report 2013/2014 at Sheraton hotel in Kampala on Tuesday. He said TMA had made strides to improve informal trade across borders. He added that since traders do not usually use formal systems and structures for their transactions, it was difficult for regional trade policy initiatives to have any significant impact on their lives. TMA notes that the continued support to the national bureau of standards in achieving regional harmonisation of standards has seen 108 standards harmonized to date, 41 of which were...
TradeMark announces $90m for East Africa’s infrastructure
Posted on: April 1, 2015
Posted on: April 1, 2015