China-Uganda loan deal for Entebbe Airport is binding: MPs

A parliamentary committee that unearthed the “bad” terms of the Uganda-China’s Exim Bank Entebbe Airport loan agreement has ended its probe, noting that the deal is binding. Joel Ssenyonyi, chairperson of the Committee on Commissions, Statutory Authorities and State Enterprises, told The EastAfrican that it is impossible to pull out of the agreement given the dire...

Vehicle prices set to increase as EAC adopts Common External Tariff

The East African Business Council (EABC) is calling for partner states to adopt a 35 percent tariff on imported goods outside the East African Community in what it says will help promote and develop regionally manufactured products. “The way to protect our infant industry is to raise the common external tariff for those products...

Parts of North China experienced shortage of natural gas

Parts of North China have experienced a shortage of natural gas in what is blamed on the harsh winter season. Experts also blamed the jump in prices to international price factors that have been on an all-time high in recent weeks. International media quoted Ma Chenchen, writing in YICAI Global who...

Burundi Cargo Ship owner hails Tanzania’s Navy

A Burundian national and owner of a cargo ship that sunk in Lake Tanganyika on Wednesday 16th, 2022 hailed Tanzania’s navy for a quick and on time to rescue all the eleven crew members who were on board before the ship capsized.  “I thank the army and Tanzanian government in rescuing the crew and...

Massive inflation in Pakistan could result in demand destruction

The massive rise in inflation in Pakistan could result in demand destruction and may create difficulties for the government to meet its tax targets, according to a media report. "With global oil prices increasing, Pakistan will find it hard to foot the import bill. Pressed hard by the highest inflation in January (13 per...

African businesses set to drive transformational agenda across continent

At the margins of the EU-Africa Business Forum, the International Trade Centre (ITC) signed a partnership with the Africa Business Council (AfBC) to empower African enterprises especially women and youth. Through this partnership ITC’s One Trade Africa programme will support the AfBC in its mandate to coordinate business support organisations across the continent and...

Tanzania-Kenya trade hits $905 million

Kenya-Tanzania bilateral trade has hit USD 905.5 million in 2021 for the period January –November 2021 according to the Central Bank of Kenya. This was highlighted during the East African Business Council Trade Facilitation Forum at Namanga One-Stop Border Post. Speaking at the Forum, Mr. John Bosco Kalisa said “Kenya imports from Tanzania stood...

RAERESA gets $1.5m for harmonization of Electricity Regulations and improving Cross Border Power Trade

The Board of the African Development Bank (AfDB) has approved a grant of US$1.5m to advance intra-regional harmonization of electricity regulations and drive cross-border power trading in the COMESA region. This will be implemented through COMESA’s energy regulatory arm -the Regional Association of Energy Regulators for Eastern and Southern Africa (RAERESA). The two-year project...

Sustainable economic recovery key for COMESA member states

During the 21st COMESA Heads of State Summit held in Cairo, Egypt on 23rd, November 2021, Burundi president Evariste Ndayishimiye called on Common Market for East and Southern African (COMESA) member states prioritize sustainable economic recovery in the post covid-19 pandemic. Burundi’s President Evariste Ndayishimiye who attended the COMESA heads of state summit via...

Domestic Tourism Campaign to boost regional tourism

The East African Community (EAC) Secretary General Peter Mathuki this Wednesday launched the EAC Regional Domestic Tourism Media Campaign where media outlets expected to disseminate, and showcase the tourism potentials the region possess in efforts to revamp the sector after being largely hit by the covid-19 pandemic since last year. While addressing the journalists...
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