AFRICAN TRIPARTITE BUSINESS COUNCIL ESTABLISHED

The East African Business Council, COMESA and SADC Business Council have officially launched and formed the African Tripartite Business Council to spearhead the inclusion of private sector policy proposals into the negotiations of African Continental Free Trade Area (AfCFTA) Agreement and the African Tripartite Free Trade Area (TFTA).  This is one of the resolutions...

Rare fumigant keeps Kenya’s avocados off Chinese market

The road to exporting avocados to China for Kenyan farmers appears not only to be too long and winded, but also very bumpy. So lengthy is the road that after years of lobbying and six months since Kenya signed a deal with the Asian nation to export the produce, no fruit has left the...

EABC calls for common regional policies on future global shocks

The Chief Executive Officer of the East African Business Council (EABC) Mr. John Bosco Kalisa last Saturday urged EAC Partners States to have common regional policies on future global shocks to enhance economic resilience and rebound amid COVID-19. Speaking at the News Editors Round Table on Impact of COVID-19 on Businesses and Economies in the...

Kenya exporters protest expensive Chinese vetting

Kenyan exporters have raised concerns of high demurrage charges and loss of their agricultural produce over food certification required by China, making it difficult to trade. The Asian country on January 1 implemented new registration requirements for companies that export food to China. According to the regulations, all overseas manufacturers of...

EABC Holds Public Private Dialogue at Katuna-Gatuna Border

Over 150 transit trucks cross over the Katuna-Gatuna One Stop Border Post (OSBP) daily following the reopening of the border. This was revealed during the East African Business Council- Trade Mark East Africa (EABC-TMEA) Public Private Dialogue with Trade Facilitation Agencies at the Katuna-Gatuna OSBP that took place this Tuesday June 28th. Mr. Peter Gikwiyakave,...

Burundi’s annual budget increases by a whopping 40 percent

Burundi’s 2022-2023 annual budget increased by a whopping 40% according to the country’s finance minister Domitien Ndihokubwayo while he introduced the budget to the parliament in Bujumbura earlier this week. “Citizens also should help contribute for the annual projects as the budget records a shortage of almost 200 Billion BIF during the 2022-2023 annual...

Industry leaders have called for a regional wide duty remission scheme instituted to spur intra-EAC trade

Speaking at the EAC Incentive Scheme Workshop organized by East African Business Council with support from TradeMark East Africa; Dr. Samuel Nyantahe from Confederation of Tanzania Industries (CTI) said, "Final products manufactured using raw materials benefiting from duty remission do not access the EAC market at the preferential rate of 0% which has set back the growth...

Economic fluctuation among factors hindering capital market operationalization

The Burundi Central Bank (BRB) last week indicated that the capital market was established in the country 13 years ago despite not being able to be operational due to challenges mainly the lack of economic fluctuation. “The first and the main difficulty is what I call awareness. Because to progress a project requires to...

How Kenya Railways paid over Sh1bn SGR compensation to faceless individuals

Lawmakers have given the Kenya Railways Corporation (KRC) three months to recover Sh1 billion it paid as compensation to faceless individuals that were affected by the building of the standard gauge railway (SGR). The details of the payments to unverified individuals by Kenya Railways are contained in the 24th Report on State Corporations by...

EAC 2022-23 Budget stagnate amid economic decline

The East African Community (EAC) budget for the Financial Year 202223 has stagnated as the regional minister projected that the economy of the region is expected to decline amid inflation of commodities due to numerous factors. The community tabled $91.5 million for the financial year 2022-2023 with 59 percent of the budget  will be...
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