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East Africa
- Tanzania has offered the Uganda National Oil Company (Unoc) to use the Dar es Salaam port for oil importation.
- This presents a strategic alternative amid the ongoing importation stalemate between Uganda and Kenya.
- The legal dispute between Uganda and Kenya over oil importation policies is pending before the East African Court of Justice (EACJ), with indications that Uganda may withdraw the case.
Tanzania has stepped forward with an enticing proposition that Kampala finds hard to ignore, especially regarding the ongoing deadlock in Nairobi-Kampala oil imports.
Tanzania has extended an offer to the Uganda National Oil Company (Unoc) to utilise the Dar es Salaam port for its fuel importation needs. This development comes as Uganda explores alternatives in response to Kenya’s steadfast position on Kampala’s oil importation demands.
Uganda’s grievance at the East African Court of Justice (EACJ) remains pending amid these unfolding events, casting a shadow of uncertainty over …
- In the three months to March 2023, Group’s total assets rose by 39.8 percent to close at $11.8 billion buoyed by DRC subsidiary TMB.
- Revenue increased by 26.9 percent to $267.4 million mainly driven by the non-funded income from customer transactions across the Group.
- This is the Group’s newest subsidiary in the Democratic Republic of Congo.
- It demonstrated the range and diversified income streams across the group’s businesses, adequate to cover the elevated operating and funding costs.
Regional lender KCB Group Plc posted $68.8 million in profit after tax for the first quarter 2023, a marginal drop attributable to acquisition and consolidation costs of its newest subsidiary, Trust Merchant Bank (TMB), in the Democratic Republic of Congo.
In the quarter, however, the Group recorded a strong balance sheet growth with total assets hitting $11.8 billion, with TMB contributing 14 percent to the Group’s total assets. The bank said this was …
- Insurance industry paid claims worth $400Mn in three months from October 2022 to December 2022 representing a 3percent increase compared to the third Quarter of 2022 that paid claims worth $391Mn.
- Latest statistics from the Insurance Regulatory Authority (IRA) indicate that the number of claims reported to the insurers were 2,040,600, a 12.6 percent increase compared to 1,811,141 claims reported in Q3,2022.
- General liability claims paid went up by 16.8 percent to 14,085 claims worth $42Mn from 12,055 claims paid worth $40Mn billion in the previous quarter. Non – Liability claims paid hit 1,714,723 claims worth $170Mn representing a 1.8 percent from 1,684,698 claims worth $160.31Mn reported in Q3 2022.
Insurance industry paid claims worth $400Mn in three months from October 2022 to December 2022 representing a 3 percent increase compared to the third Quarter of 2022 that paid claims worth $391Mn.
According to the Quarter 4 of 2022 claims …
The East African Industry Captains have convened in Arusha, Tanzania at Mt. Meru Hotel, to chart out regional policy priorities geared to spur intra-EAC trade to over 30%.
The regional policy priorities were presented to the EAC Secretary General Dr. Peter Mathuki who assumed office on 23rd April 2021, in a bid to inform his vision of transforming the EAC into a prosperous, inclusive, trade and investment bloc.
Also Read: EABC calls for standardisation of Covid-19 charges
“As the industry leaders we have analyzed key trade and investment barriers, delaying East African businesses to take full advantage of the EAC Customs Union and Common Market, said Mr. John Bosco Rusagara representing EABC Chairman Mr. Nick Nesbitt at the meeting.
Finalization of the comprehensive review of the EAC Common External Tariff (CET) to boost industrialization and regional value chains; the quick elimination of Non-Tariff Barriers and operationalization of the Committee …
The East Africa private sector is upbeat on the expansion of trade and investment in the region and a rejuvenated and progressive bloc, following the assumption of office of Dr. Peter Mutuku Mathuki, as the new East African Community (EAC) Secretary-General.
Dr. Mathuki, an ardent champion for the inclusion of the private sector into the regional integration agenda, has this afternoon officially taken over as the new EAC Secretary-General, for a five-year term, at the EAC Secretariat headquarters in Arusha, Tanzania.
“Strengthening mechanisms to resolve persistent Non-Tariff Barriers (NTBs) that hamper intra EAC trade, deepening implementation of the Common Market protocol and restructuring the EAC Secretariat to achieve the mandate envisaged in the Treaty are some of my key priorities,” he noted in his inauguration speech.
In his first year in office, Dr. Mathuki, outlined that he will prioritise the full operationalization of the amended EAC Elimination of Non-Tariff Barriers …
East Africa has since late 2019 been fighting swarms of desert locusts which have posed a serious threat to crops and grazing across the region.
The locust plague In Kenya is the worst in 70 years. In the last two months, new swarms have been breeding and hatching leaving farmers devastated as they try to cope with the negative effects from previous pests not to mention the dry spells and floods that hit the region further destroying crops.
“We expect the worst if the young hatch in March and April,” Kelvin Shingles, Kenya Country Director for German Agro Action (Deutsche Welthungerhilfe) said in a press release.
In Ethiopia, Somalia and Kenya, it is reported that up to 38 percent of cropland and 48 percent of pastureland have been affected. 69 percent of households have also suffered losses due to the plague according to the Southern Africa Food and …
The EAC region has few harmonized regional standards, lengthy harmonization process as well as low adoption rate of harmonized regional standards coupled with varying frameworks of technical regulations across partner states.
This has led to standards related to NTBs such as costly and time-consuming re-testing processes or denial of market access for certain products.…
For instance, Burundi’s raw coffee exports increased from an average of Burundian Franc (BIF) 654 ($0.34) in the Q2’2020 to BIF 4500 ($2.32) in Q3’2020, while Ugandan exports increased by approximately 21 per cent between the second and the third quarter, while in Rwanda non-mineral exports increased by 46 per cent.
According to the AERC Executive Director Professor Ndungu, the advent of the COVID-19 sent shockwaves in the emerging new sectors, such as tourism, manufacturing and financial intermediation compromising recovery.…
Leather and leather products are among the most widely traded agro-based commodities in the world. The global estimated trade value of the sector is over US$120 billion a year and continues to grow.
World livestock population is estimated at 3.5 billion; among these, Africa represents 26.32% of the population making it an important sector to the continent.…
