Business

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...

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 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...

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...

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...

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...

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...

Pakistan’s rupee is poised for its biggest monthly decline in more than two years as deteriorating finances and uncertainty over the International Monetary Fund’s bailout plan weigh on the currency. The rupee has declined about 7% in May, the steepest drop since March 2020, as the country negotiates a bailout package with the IMF...

Kenya’s debt repayments towards China-funded infrastructure projects have more than doubled to a record Sh73.48 billion this financial year on the back of increased clearance of principal sums after the grace period lapsed. Expenditure data published this week by the Treasury shows the amount repaid to Chinese lenders has surged 135.15 percent compared with...

The East African Business Council (EABC) CEO John Bosco Kalisa called on the EAC member states to harmonize domestic tax regimes and Proposed measures for 2022/23 Budgets. Mr. Kalisa said the Treaty for the establishment of the East African Community obliges the Partner States to harmonize their tax policies with a view of removing...