Africa > East Africa > Business / Trade

Business / Trade in East Africa

  • Osinbajo seeks greater integration of African economies

    NIGERIA, 2017/10/16 Vice President Yemi Osinbajo has called for better integration of African economies to enable the continent develop free trade part AU member nations. Osinbajo made the call at the inaugural conference of the Africa Champions Group, an initiative of business and manufacturing stakeholders in the continent, on Saturday in Lagos.
  • Africa: USA-Africa - No Policy? Bad Policy? or Both?

    BOTSWANA, 2017/08/30 "Africa is terra incognita for the Trump Government: a continent it cares little - and understands even less - about. With no dyed-in-the-wool Trumpian Africa hands available, the government appears ready to cede Africa policy making to career civil servants and a few mainstream Republican appointees." - Matthew T. Page The headline to Page's article in Quartz Africa states that "Donald Trump could be getting his US-Africa policy right by simply not having one." His view is actually additional nuanced, in judging that no policy would likely be only "less bad" than explicitly "bad policy" that may result from better White Home interest in Africa.
  • Gas - Women Yet to Benefit From National Cake Tanzania

    TANZANIA, 2017/08/13 MSIMBATI village of Mtwara rural district is a hive of activities as new home structures are mushrooming at the central business sector(CBA) at a high speed. One can easily mistake the gas rich village for a township given the high rate of development taking place. A modern standard village market has been constructed at the CBA where those who cannot afford to construct their own stalls may sell their merchandise that includes tomatoes, rice, fish and other commodities.
  • South Africa: Trade Mission to Zambia a Success

    SOUTH AFRICA, 2017/07/28 The Department of Trade and Industry (dti) has concluded a successful Trade and Investment Mission to Zambia. Director of Export Promotion at the dti, Seema Sardha, said the 20-member South African business delegation that were part of the mission, identified countless mutually beneficial business opportunities that exist between the two nations. The two-day investment mission that got underway on Monday, as well identified a need to create much needed partnerships towards addressing the structural challenges relating to poverty, unemployment and inequality.
  • Mauritius trade deficit widens 18.6 pct yr/yr in May

    MAURITIUS, 2017/07/22 Mauritius' trade deficit widened by 18.6 % to 8.25 billion rupees ($245 million) in May from the same period a year before, driven by higher imports of mineral fuels and lubricants, the statistics office said on Friday. Imports rose 6.3 % to 15.28 billion rupees, with minerals fuels and lubricants up to 2.66 billion rupees from 2.41 billion rupees in May last year.
  • Africa: 'Market Information Gap Threatens U.S.$400 Billion Intra-Africa Trade'

    BOTSWANA, 2017/07/14 Access to data across African economies, which has been hindered by the fragmented nature of the respective markets, is currently threatening a $400 billion intra-Africa trade potential. Africa Export-Import Bank (Afreximbank) said the present transactions price at $170 billion remained their due to wide gap in market data, which presently needs to be closed to foster accelerated trade integration. Meanwhile, the size of intra-African trade could be doubled from the current level of about $170 billion per year to almost $400 billion by addressing the issue of availability of market data on the continent.
  • Rwanda’s Kagame visiting as Israel looks to boost Africa ties

    ISRAEL, 2017/07/14 Rawandan President Paul Kagame began a two-day visit to Israel on Monday for talks focused on boosting cooperation for the next, but as well touching on the two nations’ common experience in the completed overcoming the horrors of genocide. “We are two nations who understand the horror of genocide, and we must show what humanity can achieve with cooperation and considerate,” President Reuven Rivlin told Kagame at the presidential residence in Jerusalem. “We know that Rwanda is presently going to be member of the UN Human Rights Council. This is a body which is always against Israel, so we welcome all those who are prepared to speak for us,” Rivlin said
  • Tripartite Free Trade Area plods along slowly in Africa

    BOTSWANA, 2017/06/24 Trade between African nations has long been outstripped by intra-regional trade in other parts of the world – for Africa as a whole, intra-regional trade is between 10% and 13% of total trade. This is far lower than in regions such as the EU, where about 60% of trade is between member states, and the Association of South-east Asian Nations, which has a rate of about 25%. Intra-regional trade in North America is put at about 40%. However, the ratification of the Tripartite Free Trade Sector(TFTA) – potentially later in 2017 – could help change that and push the development of additional intra-regional trade increase. A pan-regional free-trade zone, the TFTA stretches from Cairo to Cape Town and encompasses 26 African nations. Africa’s Tripartite Free Trade Area would reduce regional tariffs and create a pan-African single market, to aid development and cash in on a growing middle class in the continent. But with member countries often belonging to multiple economic areas, progress is both complex and slow, as Kit Gillet reports.  
  • Importers threaten to increase prices of goods if government implements tax to fund African Union

    BOTSWANA, 2017/06/15 Importers have threatened to increase the prices of goods if the government implements the 0.2% import tax to fund the AU. Mr Samson Awingobit Asaki, Executive Secretary of the Importers and Exporters Association, told the Ghana News Agency that the implementation of the tax would increase the cost of operation for importers. Mr Asaki added that at the same time as it happens like that, they would have no other choice than to transfer the cost onto the prices of goods for the consumers.
  • Germany's Gabriel makes surprise visit to Somalia

    GERMANY, 2017/05/04 Germany's foreign minister has warned of a looming humanitarian catastrophe on a trip to Somalia. Gabriel's visit, the initial by a German foreign minister, comes ahead of a international security conference on Somalia. German Foreign Minister Sigmar Gabriel on Monday pledged to double aid to drought-hit Somalia, where additional than 6 million people are in need of humanitarian assistance. Gabriel arrived in the capital, Mogadishu, under heavy security on an unannounced visit, the initial ever by a German foreign minister to the Horn of Africa country.