Browsing: Africa trade

A statement posted by Equity Bank on its website indicated the plan hopes to revive the economy in the continent following the COVID-19 pandemic that halted operations in different sectors leading to the loss of jobs.

In this, AfCFTA and Equity will work on the private sector economic recovery and resilience stimulus plan where the lender has seeded with a $ 6 billion (Sh 678 billion) fund focusing on food and agriculture, extractives, manufacturing and logistics, trade and investments, social impact, health and environmental investments.

Equity plans to finance over five million micro, small and medium-sized businesses (MSMEs) and 25 million vulnerable households by 2025 to support the creation of 50 million jobs.…

• Global trade will grow by 70 per cent from USD17.4 trillion to USD29.7 trillion by 2030, data by Standard Chartered has shown 
• The Future of Trade 2030: Trends and markets to watch report reveals 13 markets that will drive much of this growth, identifies major corridors, and five trends shaping the future of global trade
• The research found that 10 per cent of global corporates currently do or plan to manufacture in Kenya within the next five to 10 years

Global trade will grow by 70 per cent from USD17.4 trillion to USD29.7 trillion by 2030, a new research by Standard Chartered has projected.

The Future of Trade 2030: Trends and markets to watch report reveals 13 markets that will drive much of this growth, identifies major corridors, and five trends shaping the future of global trade.

Kenya is a key driver of this global trade growth, with its exports …

In 2004, Mittal Steel was founded following the merger of Ispat International and LNM Holdings, and the simultaneous acquisition of International Steel Group, becoming came the world’s leading steel producer.

Shortly after, in 2006, Mittal Steel launched an ambitious bid to merge with Arcelor, creating ArcelorMittal.

Lakshmi Mittal has done very well, and it leaves little doubt in the mind that he has enjoyed a very gratifying career replete with success in business if his personal bank account is anything to go by together with numerous recognitions of his work in philanthropy and his contribution to the steel industry.…

A report launched in April 2021 on the US-Kenya trade negotiations analysing the implications for the future of the US-Africa trade relationship shows that if successful, the FTA would represent the most significant innovation in US-African trade relations since the enactment of the African Growth and Opportunity Act (AGOA) trade preference programme in 2000.

With a new administration taking over in the US following an election where Trump lost to President Joe Biden, an agreement has yet to be reached. This presents the Biden administration with a decision on whether to continue negotiations with Kenya.…

The East African Community (EAC) business conglomerates are anxiously awaiting the Joe Biden administration to come into power. It is hoped that a Biden administration will revive negotiations and implementations of the already signed EAC-US Trade and Investment Partnership.

While Trump continues to taint his administration’s short rule with prompting rioters to even invade Capitol Hill the ‘law body’ of the country, leaders from the EAC have gone ahead to congratulate Joe Biden for his election win.

It is clear that businesses in Africa see Biden as a beacon of hope that will reignite the Trump dampened US trade ties with the regional bloc.

Consider the Trade and Investment Framework Agreement (TIFA), a trade pact that covers and governs ‘the framework for expanding trade and resolving outstanding disputes between countries, was agreed between US and EAC partner states in June 2012 but was never implemented.’

However, since 2016, the negotiations …