Friday, May 24

Industry and Trade

aviation industry

 

  • Zanzibar invests in improving Isle’s aviation industry as President Hussein Mwinyi commends expansion works at AAKIA
  • Construction underway to improve efficiency at Terminal 3 AAKIA
  • Zanzibar’s AAKIA recognized for winning international Award

Aviation industry and tourism in Zanzibar

Aviation industry is the bedrock of the tourism sector in Zanzibar, it is dependent on a successful airline industry, and as a tourism destination having frequent flights from top international airlines is the key to growth.

As an archipelago off the coast of Tanzania, Zanzibar is made up of three main islands, that is; Zanzibar, Pemba, and Mafia Island.

To strategically grow its tourism sector, all three islands have their airport, the largest and busiest is the Zanzibar Abeid Amani Karume Airport. The airport is named after Abeid Amani Karume, the island’s first president.

Zanzibar is working on the construction of a new passenger Terminal building (Terminal 3) at the Abeid …

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Insurance in Agricultural value chain
  • Insurance emerges as a beacon of hope in mitigating risks and managing resilience across the agricultural value chains.
  • Partnerships between the government and private entities are needed to devise, develop, and establish efficient and sustainable solutions to risks in the agricultural value chains.
  • To cope with the additional pressure of climate change on socioeconomic development and food security, Africa has adopted a policy framework that concedes and puts emphasis on the importance of strengthening climate and disaster resilience. 

Agricultural value chains are multi-faceted industries encompassing farmers, agro-processors, and traders. The resilience of each impacts the entire system. However, the vulnerability of these facets to various risks threatens the stability and sustainability of the whole value chain.

Agriculture remains vital in feeding nations and maintaining economic stability in the ever-changing global economies. Despite its immense contribution, it faces a series of challenges. From unpredictable weather patterns to market fluctuations, posing a

Finance Bill 2024 Proposals
  • Finance Bill 2024 Proposals seek to introduce a 25 per cent excise duty on vegetable oils, which KAM says will drive upwards the cost of cooking oil.
  • The proposed finance law aims to expand Kenya’s tax base by bringing more economic activities into the tax net.
  • This, according to KAM, will lower the cost of living for Kenyans and create prosperity for the country.

The Kenya Association of Manufacturers (KAM) has raised concerns over the state’s proposal to increase the Import Declaration Fund (IDF) from 2.5 per cent to 3 per cent.

In a raft of proposals to the government, the manufacturers highlighted some of the expected impacts of the proposed law on Businesses in the East African nation.

KAM argues that the imposition of IDF will significantly elevate the costs of raw materials, thereby stifling the manufacturing sector’s ability to add value.

In a statement on Monday, May 20, …

AIM Congress 2024
  • AIM Congress promises to be a melting pot of insights, strategies, and opportunities aimed at shaping the future of global investment.
  • The congress has carved a niche for itself as a premier investment platform dedicated to fostering collaboration and driving innovation.
  • The Innovation and Technology Track will delve into the latest trends and innovations across various domains, including artificial intelligence, the Internet of Things, smart agriculture, and bockchain technology.

The anticipation is building as the AIM Investment Summit 2024 gears up to host over 450 dialogue sessions, featuring 900 speakers and experts from around the globe. In collaboration with over 330 local, international, and global partners, this event promises to be a melting pot of insights, strategies, and opportunities aimed at shaping the future of global investment.

Twenty-four of these partners step forward as supporting sponsors of the main conference, lending their expertise to provide participants with invaluable insights, best …

AIM Congress 2024
  • AIM Congress will be hosted by Abu Dhabi, with the support of the UAE Ministry of Industry and Advanced Technology and the Abu Dhabi Department of Economic Development (ADDED) as lead partners.
  • The Gold Sponsors for the event are Saud Bahwan Group, Jordan’s Ministry of Investment, and Moroccan Investment and Export Development Agency.
  • The Silver Sponsor for the event is Ajman Chamber of Commerce and Industry.

As the Annual Investment Meeting (AIM) Congress 2024 draws even closer, the spotlight is on the outstanding partnership efforts that have fueled its success over the years. With the event slated to take place between May 7 to 9 in Abu Dhabi, the United Arab Emirates, AIM Congress highlights its long-standing partnerships with esteemed organisations.

In partnership with over 330 local, regional, and international partners, the 2024 AIM Congress is committed to enhancing global economic growth by promoting investment opportunities and facilitating meaningful communication …

Kenya-Ethiopia trade relations
  • Kenya-Ethiopia trade relations have been on the rise in the past 27 years, with Kenya having the upper hand. 
  • Ethiopia, on the other hand, recorded an increase at an annualised rate of 23.7 per cent.
  • During the Meeting Kenyan investors also undertook exhibitions showcasing some of their products.

Kenya and Ethiopia have renewed the push to streamline the bottlenecks that are hampering trade growth between the two states. A delegation of the National Assembly to the Kenya-Ethiopia Trade and Investment Mission held in Addis Ababa, Ethiopia, has rooted for the speedy removal of bottlenecks hampering cross-border trade between both Nations.

Kenya and Ethiopia have engaged in bilateral trade across multiple sectors, including agriculture, manufacturing, energy, and services, with the balance of trade hugely in favour of Kenya. In 2022, Kenya exported $95.1M (Sh12.8billion) to Ethiopia, mainly Palm Oil $12.4M (Sh1.7billion), Metal Stoppers $7.95M (Sh1.1billion), and Yeast $6.92M (Sh934million).

This compares …

AmCham Business Summit 2024
  • Meg Whitman, US Ambassador to Kenya, highlights key investment opportunities in Kenya, particularly in the creative industry and clean energy.
  • She noted that Kenya has the potential to become the Singapore of Africa through vertical business integration, job creation, innovation, and foreign direct investment.
  • AmCham Business Summit 2024 seeks to strengthen bilateral trade and investment between the US, Kenya, and East Africa.

The fourth edition of the regional American Chamber of Commerce Kenya (AmCham) Business Summit, has officially kicked off in Nairobi, Kenya, under the theme, ‘Catalyzing The Future of US-East Africa Trade and Investment’.

This year’s forum underscores AmCham Business Summit as the premier platform for strengthening bilateral trade and investment between the United States, Kenya, and East Africa.

Hosted by the American Chamber of Commerce (AmCham), the two-day Summit has brought together delegates from the United States of America, East and Sub-Saharan Africa in efforts to deliberate and …

south sudan
  • South Africa’s Strategic Fuel Fund (SSF) operates Block B2 in South Sudan in collaboration with Nilepet.
  • The company has just completed a major phase of its oil and gas exploration in Jonglei state.
  • SSF recently completed undertaking the largest geophysical survey ever done in South Sudan, covering 47,000 square kilometres.

In a move marking the strengthening bilateral relations between South Africa and South Sudan, the Strategic Fuel Fund (SFF), South Africa’s state-owned petroleum company, convened a key meeting with South Sudan’s national oil company, Nilepet, in Juba last week.

The meeting was a highlight of South African President Cyril Ramaphosa’s state visit, underscoring the growing economic ties between the two nations.

The SFF, which operates Block B2 in South Sudan and collaborates with Nilepet through the Nile Orange joint venture, has recently completed a major phase of its oil and gas exploration campaign in Jonglei state. The initial aerial survey …

Africa's agribusiness sector
  • Africa’s agribusiness sector is undergoing significant transformations driven by population growth, urbanisation, technological advancements, and shifting consumer preferences.
  • Alongside their role in stimulating economic growth, agribusiness and agro-industrial development have the potential to reduce poverty and foster social and economic growth. 
  • Technological advancements and digital transformations are revolutionising agribusiness in Africa, offering transformative opportunities.

Africa’s agribusiness sector potential

Agribusiness in Africa is undergoing significant transformations driven by population growth, urbanisation, technological advancements, and shifting consumer preferences. As a continent with abundant agricultural resources, Africa holds immense potential for agribusiness development.

African economic growth remains commodity-based, mainly on commodity exports, with minimal processing and value addition involved. To foster sustainable and inclusive growth and development in Africa, there is an urgent need to promote a new development approach based on exploiting the continent’s full agribusiness potential.

Some pressing issues call for a reorientation to support agribusiness and agro-industrial development, namely, poverty …

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