Business

The East African Community has proposed another deadline for a single currency while expected to miss out on the 2024 deadline that was initially set by the heads of state upon signing the Monetary Union Protocol in 2013. During the celebration of 23 years since the East African Community was revived after its collapse...

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 first of May every year is celebrated to pay tribute to workers, and Burundi Labor Day celebration will be done on Monday May 2nd according to the government’s communique. With the celebrations expected to be marked with marching and showcasing different products produced in the country by companies and individuals, this year’s celebration...

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...

Global commodity prices are expected to decline this year at the fastest clip since the onset of the COVID-19 pandemic, clouding the growth prospects of almost two-thirds of developing economies that depend on commodity exports, according to the World Bank’s latest Commodity Markets Outlook report. The drop in prices, however, is expected to bring little relief...

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...

During Academy Public-Private Partnership Forum (APPPF) session held in Tanzania (Arusha) early this month, The Nelson Mandela African Institution of Science and technology (NM-AIST) and The East African Business Council (EABC) asked for additional funding to help investors drive Africa’s sustainable economic development. The APPPF that was held at Gran Melia Hotel, Arusha regional...

In the financial year 2018-2019 all the East African member states allocated less than 10% of the budget on agriculture with the exception of Burundi which allocated 10.69% despite a high malnutrition rate in the country. During the fourth East African Community (EAC) agriculture summit that took place on May 10th in...

While address a session of the 14th African Union High Level Private Sector Forum at the Kenyatta International Convention Centre in Nairobi, Kenya’s Cabinet Secretary for East African Community and Arid and Semi-arid Lands Rebecca Miano indicated that collaboration of regional value chains in Africa will open up domestic markets, achieve economies of scale and improve competitiveness...

Burundi and the World Bank Group early this week approved funding of $ 80 million for the Skills for Employment Project of Women and Youth in Burundi (Burundi Skills4Jobs). The project aims to improve access to training and labor market relevance of skills development programs and entrepreneurial opportunities. According to the authorities the fund...