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Author: Mustapha Juma
DP World, the leading provider of worldwide smart end-to-end supply chain logistics has continued with its focus to expand its services in Africa.
Last month, the company launched the first dedicated container train service connecting Maputo and Harare, Zimbabwe. This is key to its vision to connect several countries in Southern Africa – namely Maputo with South Africa, Zimbabwe and Swaziland – by rail.
The new offering presents a multitude of new business opportunities for customers in Zimbabwe and Mozambique.
Better transit times
The service offers significantly better transit times for customers in Zimbabwe. In the past, transit goods on their way to Harare would often have to be transported far greater distances by sea and road, but this route will give customers a new, direct, and faster option for delivery.
Following the launch of the bi-weekly rail service, DP World Maputo will continue to work with all the stakeholders …
East African Business Council (EABC) and the East African Community (EAC) have held talks on strengthening the region’s private sector.
The new EABC Executive Director/CEO Mr. John Bosco Kalisa on Tuesday July 6, 2021 paid a courtesy call on the EAC Secretary-General Dr. Peter Mathuki at the EAC Headquarters in Arusha, Tanzania where private sector development and resolution of trade barriers were noted as top priorities for the East African Community (EAC).
Intra-EAC trade
The move is set to increase Intra-EAC trade and promote the region as an investment destination.
Dr. Mathuki noted that the private sector is key to fast-tracking regional integration and reiterated his commitment to collaborating with EABC to strengthen private sector development in the region.
“Following my engagements with EAC Heads of State over the past two months, a strong private sector and public sector partnership is the engine in driving the Community to prosperity,” Dr. …
United Kingdom High Commissioner to Tanzania David William Concar has visited the East African Business Council (EABC) Offices in Arusha.
EABC is the regional apex body of private sector associations and Corporates from the 6 East African countries which was established in 1997 to foster the interests of the private sector in the integration process of the East African Community.
The UK High Commissioner was welcomed by EABC Chief Executive Officer Mr. John Bosco Kalisa on Monday July 05, 2021 which was his debut day in office.
TradeMark East Africa (TMEA)
Mr. Kalisa who made his remarks while in his office appreciated the United Kingdom (UK) support to East African Business Council through TradeMark East Africa (TMEA) and highlighted the importance of the private sector as the driver of socio-economic growth in the East African Community region.
TMEA works closely with EAC institutions, national governments, the private sector and civil …
The decline in economic output brought about by certain policies and measures to curtail the COVID-19 pandemic has increased the risk of debt defaults among African countries.
This was revealed on Friday July 2, 2021 during the launch of the African Development Bank’s comprehensive five-year Strategy for Economic Governance in Africa (SEGA).
According to the document, public debts had exceeded 50% of GDP. According to AfDB, Africa has increased its debt at a faster rate than any other region over the last decade.
The bank said that there had been a corresponding increase in the risk of debt defaults following the increase in public debt stock.
It also revealed that at least 24 African countries had applied for the Paris Club–led Debt Service Suspension Initiative.
“The risk of defaults on debt, much of which is now non-concessional, has increased. At least 24 African countries have applied for the Paris Club–led …
Property developer Maisha Developments has broken ground on 259 apartments with over a fifth already sold within the Tilisi master-planned development located in Rironi, Limuru.
The event took place this week even as other Nairobi developers announced they that they were postponing new builds.
2 years completion
In a press statement sent to newsrooms, the developer says the two- and three-bedroom apartments will be completed within two years.
At the moment, phase one of apartment schemes Maisha Mapya and Maisha Makao that will offer nearly 600 apartments are on completion.
Kshs. 4.4 million price
According to the Maisha Developments CEO Mr. Kavit Shah, the apartments’ prices will start at Shs.4.4 million, but will come with several features that cannot be found in any apartments at such a price.
“These two schemes offer a new level of value for first-time and more established buyers, with apartments that start at just Sh4.4m, …
Nigeria is set to benefit from renewable energy financing programmes worth $4.5 million by the FSD Africa Investments (FSDAi).
FSD Africa
Established in 2012 and supported by UK aid, FSD Africa is a specialist development agency working to build and strengthen financial markets across sub-Saharan Africa.
FSD Africa is incorporated as a non-profit company limited by guarantee in Kenya. It is funded by UK aid from the UK government.
Poverty eradication
The organization works to reduce poverty through a ‘market systems development’ approach with an aim to address the structural, underlying causes of poverty by improving how financial market systems function.
The FSDAi, is investing $4.5 million in Nithio FI, a renewable energy financing intermediary focused on the Pay as You Go (PAYG) off-grid solar sector.
The intermediary provides renewable energy solutions for households and small businesses in Nigeria, Kenya and Uganda.
Renewable off-grid energy
Over the next five years, …
Over a long period of time, landlocked Ethiopia has been forced to rely on neighboring Djibouti for most of its trade. The country with about 100 million people has been carrying out is import and export trade through Djibouti which has a population of less than 1 million people.
Ethiopia lost access to its coastline, impeding its economic growth and limiting the nation’s ambitions of becoming a regional hegemon when Eritrea seceded in 1993.
Ethiopia’s overdependence on Djibouti is also as a result of her strained relations between Addis Ababa and Asmara. However, Ethiopia is set to get a major trade gateway after the completion of Berbera port.
Berbera Port
A new container terminal opened at Berbera port in the semi-autonomous Somaliland region is expected to be a major trade gateway for the landlocked country. The port, according to reports, will further enhance trade relations among East African and Gulf …
Will the entry of Democratic Republic of Congo (DRC) into the East Africa Community (EAC) help stabilise the political situation in the country? Well, the country is unstable, with civil unrest in some parts, the risks which must be assessed before admitting the country into the regional bloc.
With DRC President Felix Tshishekedi on Friday officiating the launch of the EAC verification mission, the country is inching closer to joining the community.
The DRC head of state was presented with the EAC flag by the EAC Secretary-General Peter Mathuki to mark the unveiling of the mission as he launched it in Goma Eastern DRC.
President Tshishekedi hailed the progress made by the Community in its integration agenda, adding that DRC was committed to joining the EAC at the earliest opportunity.
Suitability of DRC
According to a statement from EAC, the verification mission which will conclude on July 4 will assess …
The East African Community’s 14th Meeting of the Sectoral Council on Agriculture and Food Security (SCAFS) has ended in Arusha, Tanzania.
The meeting that was chaired by Kenya’s Chief Administrative Secretary for the Ministry of Agriculture, Livestock, Fisheries and Cooperatives Mr. Lawrence Angolo Omuhaka closed on Friday June 25, 2021.
Speaking during the meeting, Mr. Omuhaka, noted the urgent need for the region to implement harmonized policies and to operationalize regional instruments in order to guarantee sustainable agricultural production, trade in commodities and to attain sustainable regional food and nutrition security.
Comprehensive Africa Agriculture Development Programme (CAADP)
Africa’s policy framework for agricultural transformation, wealth creation, food security and nutrition, economic growth and prosperity for all dubbed the Comprehensive Africa Agriculture Development Programme (CAADP) was also brought to attention during the meeting.
Mr. Omuhaka while commenting on the policy noted that AU Member States were required to demonstrate their commitment to
… 
Just months after the Nigerian government banned regulated financial institutions in the country from providing cryptocurrency-related services, a school in the West-African country is set to start accepting cryptocurrency as a means of school fees payment.
The Central Bank of Nigeria (CBN) in February issued the ban through an announcement that was made via a circular.
However, New Oxford Science Academy, a private secondary school in Kano State, Nigeria, has announced its intentions to start using the cryptocurrency-related services again.
Reports indicate that the Proprietor of the school, Sabi’u Musa Haruna, will allow students to pay their tuition fees in cryptocurrency.
Speaking to journalists in Kano on Saturday, the proprietor stated that the school management took the decision after consulting parents and guardians.
Also Read: ECOWAS unveils new roadmap for single currency launch
He also took the opportunity to urge the Nigerian government to embrace and regulate cryptocurrency, four months …