Business

New East African Business Council (EABC) study on the impact of Covid-19 in the tourism &hospitality sector reveals 2.1 million jobs lost in 2020 in the EAC region. East Africa Community (EAC) Partner States are estimated to have lost international tourism receipts to the tune of $ 4.8 Billion in the year 2020, following...

Burundi ministry of trade, tourism, and industry launched this Thursday February 5th, 2021  Burundi Airlines a company to monitor the country’s owned fleet after being grounded for more than 10 years. The government is the main shareholder with 92 percent of the shares while SOCABU and SABENA owns 4 percent of the shares each. 

At least one person was shot dead this Monday December 14th, 2020 by the police while attempting to flee with a boat loaded with 52 million worth of loincloth (Kitenge). According to the Burundian police four people were arrested and one shot dead while raiding smugglers sneaking in more than 1800 loincloths from the...

COMESA Secretariat has conducted a study on the socio-economic impacts of the COVID-19 pandemic in the region. The study is expected to help Member States in developing policies to address the impacts of the pandemic on their economies. According to the study, only six Member States: Egypt, Ethiopia, Kenya, Malawi, Rwanda and Uganda are...

The annual inflation rate for the month of September 2020 increased to 81.9% up from 23.4% recorded in the same month last year. This means that prices of goods and services in the participating Member States went up. According to the latest Harmonized Consumer Price Index (HCPI) which measures inflation rate in the COMESA...

Fire gutted Kamenge market considered to be one of the busiest markets in Bujumbura in the wee hours of Saturday morning. Traders were left counting losses after a big part of the market went down in flames as fire fighters spent several hours trying to extinguish the fire. “Ivestigation has been...

Trademark East Africa (TMEA) partnered with the Burundi Federal Chambers of Commerce (CFCIB) signed a Public Private Dialogue project in Burundi worth $25,000 this Wednesday 9th. September, 2020. The project is expected to last for 2 years aiming at providing a platform to expose communication challenges for Burundi traders as well as trade Non-Tariff Barriers (NTBs).

The COMESA Secretariat has developed a draft COVID-19 Regional Food and Nutrition Security Response Plan to improve agricultural productivity, enhance access to competitive markets and trade in agri-food commodities in the region. Implementation of the Plan is expected to create synergies and complement existing initiatives in the region and Member States, targeting specific commodities...

During the East African Community Agriculture Budget Summit last week, small scale farmers in member states expressed concerns over the agriculture sector that has remained under funded calling on the member states to meet the Malabo declaration. “I acknowledge so many challenges that our small scale farmers in the region face including inadequate access...

At least 82% of the reported Non-Tariff Barriers in the COMESA region are those imposed on imports and exports of goods and services and are largely operational by design. According to trade experts, these type of NTBs are easy to identify and monitor. Thus, from an analytical perspective, the relatively high rate of resolution...