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- Annual tourist arrivals to the EAC are anticipated to increase to about 14.05 million by 2025, from the 7.2 million recorded in 2019.
- Kenya targets 5.5 million international tourist arrivals and a $6.3 billion annual contribution by 2028.
- Fast-tracking of the EAC Single Tourism Visa remains critical to sell the region as a single tourism investment hub.
Diversification of products beyond traditional attractions and joint promotion of the region is a catalyst to revamping the East African Community as a single tourism market. This call on a single tourism market was underscored by regional Ministers responsible for EAC Affairs and Tourism and Wildlife Management who converged for the opening of the 3rd EAC Regional Tourism Expo (EARTE’23) and the Magical Kenya Travel Expo in Nairobi, Kenya.
The three-day Expo that kicked off on Monday provides an opportunity for EAC Partner States to create awareness of tourism investment opportunities and …
- This strategic agreement aims to reduce border congestion, enhancing trade flow in a key African economic corridor.
- Congestion at borders, especially in the Tororo and Busia areas, has long slowed the efficient transport of commodities throughout the region.
- The idea calls for new border crossings to be set up at Mulwadda and Buteba to relieve traffic at Busia and Malaba.
Kenya and Uganda have signed a historic deal to reduce congestion at key border crossings, significantly boosting East African trade. To facilitate trade between Uganda, Rwanda, Burundi, the Democratic Republic of the Congo, and South Sudan, the highest-ranking officials have signed an agreement to build a dual carriage road along the Northern Corridor.
Congestion at borders, especially in the Tororo and Busia areas, has long slowed the efficient transport of commodities throughout the region; this project aims to alleviate this problem. The economies that rely on this route for …
- Counterfeits and the informal alcohol industry is increasingly eating into EABL’s mainstream market.
- EABL net sales remained flat in the year at $769.5 million, impacted by thinning disposable incomes.
- Uganda and Tanzania top line performance up 17% and 1% respectively, while Kenya declined by 4%.
- EABL’s final dividend decreased by 50% from $0.077 paid in FY’22 to a total dividend of $0.039.
A tough macro environment in East Africa is to blame for subdued earnings posted by the East African Breweries (EABL) for the year ended June 2023. Higher excise taxes, rising cost of inputs and effects of the difficult macro-economic environment saw the regional brewer record mixed performance in Kenya, Tanzania and Uganda markets.
The Diageo–owned biggest manufacturer of branded beer, spirits, and non-alcoholic beverages in East Africa reported a 21 per cent drop in net profit for the year. The giant brewer said its sales for …
The demand for carbon offsets is rapidly growing in Africa, unlocking billions for the climate finance needs of economies. Kenya recently hosted a carbon credits auction. The auction is the world’s largest sale, where firms from Saudi Arabia bought more than 2.2 million tonnes of certified carbon credits.…
The Zimbabwe Stock Exchange (ZSE) on June 7 announced a halt in trading for two consecutive days. This comes amid investors flocking to the stock market as an escape from the rapid depreciation of the Zimbabwean dollar. The ZSE All Share index surpassed the 10 per cent threshold on the upside. Consequently, the ZSE exchange had to take immediate action.…