News Tag: Rwanda

S’pore deepens trade relations with Africa

Mr Iswaran (left) during the signing ceremony yesterday. The agreements come at a time of growing interest among Singapore firms to explore opportunities in Africa. Photo: IE Singapore Agreements on tax, bilateral investment and air services open doors to emerging market. SINGAPORE — The Republic yesterday inked several tax, investment and air services agreements with Africa, in a move that will boost relations with the world’s second-largest and second most-populous continent. The agreements will also ease entry by Singapore firms into a region that investing guru Mark Mobius once described as the emerging market story of the next decade. Among the agreements signed by Minister for Trade and Industry (Industry) Mr S Iswaran at the fourth edition of the Africa Singapore Business Forum (ASBF) was an Avoidance of Double Taxation Agreement (DTA) with Ethiopia, a Bilateral Investment Treaty (BIT) with Mozambique, and a Bilateral Air Services Agreement (ASA) with Nigeria. “While our traditional overseas markets remain important, Singapore companies must venture beyond these markets to seize opportunities in untapped markets in regions such as Africa. Ethiopia, Mozambique and Nigeria are three fast-growing African economies and the agreements signed today signify commitment on the part of Singapore and the respective African governments to support trade, tourism and investment between our countries,” said Mr Iswaran. The Ethiopia-Singapore DTA clarifies the taxing rights between Singapore and Ethiopia, on all forms of income flows arising from cross-border business activities, and minimises the double taxation of such income. This will lower barriers to cross-border investment,...

B2B trade platform for craft products in offing

CRAFTS producers in East Africa will soon be able to sell their products to international markets following the plans to establish an annual professional for Business-to-Business (B2B) trade fair for Home Décor, Fashion Accessories and Lifestyle products in the region. Currently, there is no B2B trade platform for the crafts sector in the whole of East African region. The Africa and Middle East World Fair Trade Organization (WFTO) regional director, Mr Bernard Outah said there is need to establish B2B so that producers could easily sell their products to any country of their choice without problem. He said, at the moment, the only option for producers to reach regional or international buyers is to travel around the region in search of potential buyers or to participate in trade fairs in South Africa, West Africa or International trade fairs in Europe or the US. He said the high cost of participation fails most of African crafts producers from attending international trade fairs. “Failure to access market opportunities is one of the key challenges that face most of African crafts producers in East African region,” he said. According to Mr Outah, the establishment of B2B will enable East African crafts producers to excel in the area and boost their businesses at both local and international levels. Meanwhile, the public has been urged to recognize the crafts sector as a key economic sector in the region and offer required support so that it can unfold its potentiality. CBI programme manager for the export...

East Africa: Agro-Processing Vital for EAC, Experts Say

By Joseph Olanyo The East African countries must commit to develop the agro-processing sub-sector but also take care of the climate change issues therein, experts have said. Climate change, food security and trade experts were gathered in Kampala recently to review recent policy research on how agro-processing can become more climate sensitive, trade driven and food security enhancing in the region. "The region's success in realising this potential will partly depend on its ability to factor in the ever-increasing challenges posed by climate change, and work in synergy with its own trade agenda," said a statement released after the meeting. The regional meeting, jointly organised by CUTS Geneva and SEATINI, also identified necessary policy actions to be pursued over the next three years under the regional project "Promoting Agriculture, Climate and Trade Linkages in the East African Community - Phase 2" (PACT EAC2). The project seeks to build capacities of East Africans to be climate-aware, trade-driven and food security-enhancing agro-processing in their region. "We all agree that climate change is real, and that agro-processing is the way forward. These issues are intertwined," said Fred Mukasa Mbidde, the chairman of East African Legislative Assembly's Committee on communication, trade and investment. Dr Oswald Mashindano, a principal research associate with the Economic and Social Research Foundation Tanzania, said that whereas agro-processing development has been earmarked as a key regional priority, multi-pronged challenges continue to affect the East African region. Mashindano, also a rural development academic at the University of Dar es Salaam said...

EALA wants tougher wildlife laws to fight against poaching

Elephant tusks. Elephants are some of the endangered wild animals targeted by poachers. / Net. The East African Legislative Assembly (EALA) is calling on East African Community Partner States to enact new wildlife legislation with enhanced penalties and improve strategies and protection measures in a bid to save the region’s wildlife. Findings by EALA’s committee on agriculture, tourism and natural resources indicate that elephants and rhinoceros are the animals most vulnerable to poaching but other species including leopards, pythons, marine turtles and others are also endangered. The committee’s oversight activity report says that contributing factors include persistent weaknesses in the legislation governing wildlife crime, along with poor administration and low levels of compliance. “The Committee recommends the EAC Secretariat to expedite the ongoing anti-poaching strategy to combat poaching, illegal trade and trafficking of wildlife and wildlife products to foster regional coordination,” said committee chairperson MP Christophe Bazivamo (Rwanda). Christophe Bazivamo. “We recommend the EAC Secretariat to develop common strategies, standards, and guidelines for conservation of shared natural resources. The Committee also urges East African elephant range countries, and those through which ivory transits, to create national anti-poaching multi-agency security task force.” The report was presented Tuesday as the Assembly begun its ordinary sitting in Arusha, Tanzania. Other measures called for include forming specialised units to combat poaching and illegal wildlife trade, enhancing inter-agency collaboration, and increasing international cooperation. Wildlife crime is one of the most lucrative forms of illegal activities worldwide and it hurts people, communities and economies. Besides urging...

EAC officials say science, technology should be priority for the bloc

Dr Papias Malimba Musafiri, the minister for education, speaks during the first East African stakeholders' workshop on science, technology and innovation as Dr Ignace Gatare, director-general of National Commission for Science and Technology (L), looks on. At the workshop in Kigali, Musafiri said maximising science and technology is part of the government's agenda to enhance products value addition. / Nadege Imbabazi. Maximising use of science and technology is part of the government’s agenda to increase products value addition, Education minister Papias Musafiri has said. The minister was speaking, yesterday, as experts met to devise regional priorities in science, technology, and innovation funding workshop in Kigali. The workshop convened regional scientific bodies and commissions, under the East African Science and Technology Commission (EASTECO). It sought to design a five-year action plan in integration of science and technology toward socio-economic transformation and sustainable development. Head of DFID Rwanda Laure Beaufils speaks during the first East African stakeholders' workshop on science technology and innovation. / Nadege Imbabazi Minister Musafiri said a policy on science and technology should provide tangible and palpable solutions to prevailing challenges. “The role of science and technology, first of all, is to provide simple technology that should later be disseminated or transferred to support either farms or small-scale industry activities and to ensure that we have some facilities at the lower level processes of the materials which are being produced,” he said. A participant follows proceedings. / Nadege Imbabazi. Musafiri said it was important to create a value addition...

EAC urged to promote financial inclusion in east Africa

The East African Community needs a strong and uniform regulatory framework that promote financial inclusion to ensure sustainable growth in the region. Prof Lemma Senbet, from the African Economic Research Consortium says that a regionally integrated financial system that feeds into a global system will help strengthen the financial industry on the continent. Senbet also noted that a strong linkage between the financial industry and other sectors of the economy is crucial for Africa. The professor stated that It is important to have a globally competitive financial system and regulatory framework to ensure best practices. Source: TVC News

Singapore-Africa trade relations set to deepen with new agreements

(L to R) Trade and Industry (Industry) Minister S Iswaran, Deputy Prime Minister Tharman Shanmugaratnam and Mozambique's Minister of Trade and Industry Ernesto Max Elias Tonela. (Photo: Calvin Hui) SINGAPORE: Trade relations between Singapore and Africa are set to deepen, with several agreements signed on Wednesday (Aug 24) at the fourth edition of the Africa Singapore Business Forum. These include the signing of the Avoidance of Double Taxation (DTA) with Ethiopia, a bilateral investment treaty (BIT) with Mozambique and an Air Services Agreement (ASA) with Nigeria. According to a joint press statement from the Ministry of Trade and Industry, Ministry of Transport and Ministry of Finance, Ethiopia-Singapore DTA clarifies the taxing rights between both countries. This covers all forms of income flows from cross-border business activities and minimises double taxation of such income, they said. Meanwhile, the Mozambique-Singapore BIT is a legally binding agreement on how the Mozambique government should treat investments from Singapore, and vice versa. With this agreement, Singapore companies operating in Mozambique will enjoy protection on top of what is already accorded under the country's domestic laws. The Nigeria-Singapore ASA provides a framework to enable the establishment of air linkages between both countries, as airlines from both countries can operate an agreed number of passenger and cargo flights between Nigeria and Singapore, and beyond both countries. They were signed by Trade and Industry (Industry) Minister S Iswaran and respective representatives from the countries - Ethiopia's Minister of Foreign Affairs, Tedros Adhanom, Mozambique's Minister of Trade and Industry...

How infrastructure devt can turn around Africa's fortunes

Better roads promote trade and movement of people and goods, a reason why Africa must invest move in such facilities. (File photo) Africa has been touted as the new destination for investors. However, the continent still faces a myriad of challenges that hold back its potential, especially efforts aimed at improving business environment and alleviating poverty to ensure sustainable economic growth. That’s why Africa needs leaders who can tackle these challenges and translate them into opportunities to achieve the ‘Africa we want’ as per the theme of the recently-concluded 27th African Union summit in Kigali. Supportive policies and infrastructure that promote entrepreneurship and trade on the continent will play a critical role in helping the continent rise from the ‘ashes’ to achieve the African renaissance dreams proclaimed by the likes of former South African President Thabo Mbeki, experts say. According to Teddy Kaberuka, an economic analyst in Kigali, infrastructures, including transport, power and information and communication technologies (ICTs) facilities, are instrumental in supporting growth in the global economy. That’s the reason why African countries must prioritise infrastructure development to ensure sustainable economic growth on the continent. “The only way Africa can increase its production and strengthen its economy is by investing heavily in infrastructure development to support the production and ease access to markets and encourage intra-regional trade. Therefore, government must invest more in the energy, ICT and transport sectors because these are enablers of trade and development,” he said. “Without enough power, the continent’s production capacity will be affected,...

What new online portal means for agric export-Import enterprises

Horticulture exports. Red and green peppers in preshipment sorting at National Agricultural Export Board offices in Kigali. (Courtesy.) Claude Niyomugabo, a produce dealer in Kigali, last month failed to close a huge deal after failing to obtain the necessary import documentation in time. Niyomugabo is not alone as many other agro-dealers, importers and exporters had fallen victim to the previously bureaucratic and tedious process of acquiring import or export certification. The bureaucratic procedures had often resulted into delays in terms of delivering farm inputs to farmers affecting sales and crop productivity. However, this could soon become history, thanks to a new online portal unveiled last week, which will ease the process and make it more efficient. The facility has automated the systems and processes used by Rwanda Agricultural Livestock Inspection and Certification Services (RALIS) to regulate and facilitate businesses involved in international trade in the agricultural sector in Rwanda. The portal, launched on Friday, was developed by the Ministry of Agriculture and Animal Resources with $150,000 funding from TradeMark Africa (TMA), a trade facilitation non-profit organisation. The new online portal will reduce time and cost to issue import and export certificates, as well as permits of plants, animal materials and agrichemicals by 45 per cent, according to Tonny Nsanganira, the State Minister of Agriculture. According to Beatrice Uwumukiza, the RALIS director general, the portal will enhance enforcement, as well as ensure transparency and accountability among stakeholders, including traders, transporters and government agencies. Uwumukiza said the facility that uses the Electronic...

East Africa: EAC Should 'Promote Uniform Laws On Financial Inclusion to Spur Growth'

By Peterson Tumwebaze The East African Community (EAC) needs a strong and uniform regulatory framework that promote financial inclusion to ensure sustainable growth in the region, experts say. Prof Lemma Senbet, from the African Economic Research Consortium (AERC), said EAC should put in place clear systems that promotes financial inclusion to spur growth. He added that a regionally integrated financial system that also feeds into a global system will help strengthen the financial industry on the continent. He also noted that a strong linkage between the financial industry and other sectors of the economy is crucial for Africa. "It is important to have a globally competitive financial system and regulatory framework to ensure best practices," he added. He was speaking during a China-Africa Media Think Tank symposium in Mombasa, Kenya recently. Prof Humphrey Moshi, the Centre of Communication Skills at the University of Dar es Salaam, Tanzania, said there is need to create linkage between financial sector development and poverty alleviation, as well as employment creation. He said it is essential to develop the capacity of the financial sector to exploit its potential and contribute to the region's growth. "There is need to strengthen capacity of financial systems to perform multiple functions and not mere existence of the systems," he added. "Sub-Saharan African countries, including the EAC bloc, have undertaken a lot of economic and financial sector reforms over the last two decades, yet many still face a severe financial development gap compared to advanced and other developing economies," Prof...