Month: November 2019

French business delegation of more than 25 companies will visit Uganda to explore business opportunities, invest in Uganda and create partnerships for trade.

According to a statement given by the French embassy in Uganda, the delegation will be in the country from 25th to 26th November 2019.

The business delegation is an initiative of MEDEF International – the French business confederation with 170,000 member companies and ten million employees.

The initiative is supported by the Ugandan embassy in Paris, the French embassy in Kampala and Ugandan authorities.

The business delegation will be led by Momar Nguer, Chairman of the Africa Committee of MEDEF International and President Marketing and Services and member of the Executive Committee of Total.

According to the statement from the embassy, the delegation will mainly discuss major opportunities and challenges affecting the country.

“The French companies are eager to develop their activities, partnerships, and investments in Uganda,” …

East Africa(EA) business community will address issues on harmonising airspace among others during the East African Business and Investment summit taking place in Arusha, Tanzania from 28 to 29 November.

Denis Karera, the Vice Chairman of the Council said that the summit seeks to address the most pressing issues challenging business in the region, especially cross border trade.

“Non-tariff barriers impede cross border trade. One of the key things we want to raise, again, is the domestication of airspace so that our airlines can move easily and quickly and tickets can become cheaper as well,” he said as he addressed the press.

He added that flight ticket prices are driven by none harmonized and heavy duties imposed on airlines landing at different African airports. He said that flight tickets are expensive because all the east African countries charge taxes among other handling services for every landing.

Also Read: EAC

A group of South African business people representing 35 companies is expected to travel to Mozambique in search of investment and trade opportunities, the trade and industry department said.

The group will be participating in an Outward Trade and Investment Mission to Pemba and Maputo organised by the trade and industry department from 24 – 29 November

The trip’s objective is to increase bilateral trade and investment between South Africa and Mozambique by exposing South African companies to available opportunities in Mozambique. Nomalungelo Gina Trade and Industry Deputy Minister will lead the mission.

According to the department, the specific focus of the mission will be on designated industrial and infrastructure projects as stated in the memorandum of understanding (MoU) on economic cooperation between the two countries.

Keitumetse Moumakoe, the executive director of the Steel Tube Export Association of South Africa, said his main objective for travelling to Mozambique is to …

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Earlier this week, the African Development Bank signed an unfunded $250-million Risk Participation Agreement (RPA) facility with ABSA – a pan-Africa financial institution with a solid presence in 12 African countries.

According to AfDB’s statement, the 3 year RPA facility was signed on November 12, on the sidelines of the Africa Investment Form through its trade finance operations.

Under this 3-year RPA facility, the Bank and ABSA will share the default risk on a portfolio of eligible trade transactions originated by African Issuing Banks (IBs) and confirmed by ABSA.

ABSA Group Limited is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups with solid human capital on the ground reaching around 42 000 employees.

Also, ABSA has majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, the Seychelles , South Africa (Absa Bank), Tanzania (Barclays Bank in Tanzania and National Bank of …

Lusaka as one of the fastest developing cities in southern Africa has acquired a rather vital sanitation fund to bring to life the $243 million Lusaka Sanitation Program (LSP), jointly funded by the African Development Bank (AfDB), the European Investment Bank, German Development Bank and the World Bank.

Read:Lusaka emerald auction generates US$18.6 million revenue

AfDB places Zambia’s economy growth (Real GDP) at an estimated at 4.0 per cent in 2018, compared to 4.1 per cent in 2017, whereas—the bank argues that, construction has also attributed to the growth, citing public infrastructure projects which increased at 10 per cent in 2018.

However, United Nations Children’s Emergency Fund (Unicef) poor sanitation results in a 1.3 per cent loss to Zambia’s national Gross Domestic Product (GDP) annually, which also contributed to Zambia’s high rate of child stunting (40 per cent), hence—research argues that, addressing the latter downplays the risk of stunting.…

OPay, one of the fastest scaling growth companies in Africa, has announced that it raised $120 million of series B funding, less than 6 months after it announced its last funding round of $50 million in June.

The company, which was incubated by Norwegian based, global consumer Internet company Opera, is already Nigeria’s leading mobile wallet and motorbike ridesharing provider, and is rapidly expanding.

Series B investors included Meituan-Dianping, DragonBall Capital (The Investment fund backed by Meituan-Dianping), GaoRong Capital, Source Code Capital, SoftBank Ventures Asia, Bertelsmann Asia Investments (BAI), Redpoint China, IDG Capital, Sequoia Capital China and GSR Ventures.

OPay is one of the fastest growing companies in Nigeria, providing consumers with a wide range of services including mobile payments and transfers, ridesharing and food delivery. The company plans to use the new capital to further accelerate its expansion across its multiple verticals, as well as entering new African markets.…

This year’s edition of the Erasmus+ study in Europe Fair, was hosted at the University of Nairobi, Great Court Square, serving as a great platform for students to learn of the opportunities available to them to study, work and live in a European country.

Erasmus+ is an EU flagship program that has been running for more than 30 years, helping students to enrich lives and open minds in education, training, and sports in Europe. The program encourages applications for scholarship and exchange program opportunities for undergraduate students wishing to pursue master’s degrees in member countries from the European Union.

This program speaks directly to Kenya’s National Education Sector Support Program and Vision 2030 – the development of a middle-income economy in which all citizens have enhanced entrepreneurship, innovation, and lifelong learning opportunities.

Additionally, it facilitates beneficial interactions between students willing to further their studies abroad within the 10 member states …

A Digital Manifesto, a 10-step guide for developing countries to get ahead in the digital age was launched by Pathways for Prosperity Commission on Technology and Inclusive Development.

The guide was launched in Nairobi last week by the Commission’s co-chairs Melinda Gates, of the Bill & Melinda Gates Foundation, and Strive Masiywa, founder of pan-African telecommunications, technology and renewable energy group, Econet.

“Today, huge gender gaps in digital access are the norm in developing countries. If we invest in closing those gaps, women and girls can start to meet their untapped potential, building economies that are not only more equal but also more dynamic and ultimately more prosperous,” said Ms Gates.

Mr Masiywa said that digital technologies offer powerful tools to help grow businesses and nations by helping entrepreneurs access to markets and giving governments’ innovative ways of delivering better services.

“However, without visionary policy planning and 21st-century skills training …

Strict regulations on the use of farm chemicals are locking out fresh produce exporters in East Africa from the European Union (EU) market.

The European Union (EU), which is the leading importer of horticulture produce mainly from Kenya, has amended its policy on the maximum residue levels (MRLs) by lowering permissible limits in food produce.

This comes after the EU put Kenya back on the blacklist of countries using high levels of pesticides.

Due to risk assessment, the European Union lowered the MRLs for several pesticides allowed to produce entering its market mostly ones used in citrus fruits and bananas.

New MRL limits have been set at 0.01 milligrammes per kilogramme (mg/kg) against the international standard that of 2.0 mg/kg MRL level.

Beans and peas new requirements are awaiting approval before coming into effect in January.

With the new MRL limits, exporters and their EU importing agencies must pay $1,212 …