- The Impact of Airspace Liberalization on Tourism and Trade in 2023
- Power outages, commodity prices erode South Africa’s Q1 growth
- Unlimit-CBK partnership expands presence in Africa’s fintech industry
- Qatar Airways, Shell sign record sustainable aviation fuel supply deal
- East Africa mulls shifting from linear to circular economy
- New forecast expects African airlines to suffer $500M net loss
- The gas project delays costing East Africa billions
- How Zimbabwe’s lifting of import ban is boosting exports
- Kenya is among the top three countries receiving the most international remittances across sub-Saharan Africa, after Nigeria and Ghana. Overall, the US, Saudi Arabia and UK account for nearly three-quarters of total annual inflows into Kenya.
- Kenyans living abroad sent home $357 million in March 2023, a 15.5 percent increase compared to February.
- As a whole remittances from the African diaspora are estimated at $95.6 billion annually, making it a key foreign exchange earner.
Diaspora remittances have risen to become Kenya’s largest foreign exchange earner, surpassing the country’s key exports such as tourism, tea, coffee and horticulture. According to Central Bank of Kenya (CBK) data, diaspora remittances rose by 8.34 percent to $4.027 billion in 2022. In the same period under review, tea exports earned the country $1.2 billion, horticulture $901 million, chemicals $521 million, coffee $301 million and petroleum products $77 million. The widening disparity highlights the crucial role …
- The programme, being implemented with the support of the World Customs Organisation (WCO), is aimed at bolstering the region’s private sector by encouraging participation in both regional and international trade.
- Intra-regional trade within the East African Community (EAC) is on an upward trajectory, standing at $10.17 billion as of September 2022 while total trade with the rest of the world stood at $62 billion, highlighting a need for further improvement. This represents a 20 percent share of Intra-trade to global trade.
- The digitisation of the CETs will see the region’s business community — exporters and importers- gain access to trade information from the private sector in international trade.
The East African Community (EAC) secretariat has embarked on the digitising its Common External Tariffs (CET) a move that is billed to encourage the countries’ participation in regional and international trade.
The CET is meant to protect the member countries of the …
- Uganda’s Ministry for East African Community Affairs is seeking $900,000 for the coordination and promotion of Kiswahili as an official language.
- The plan is part of the recommendations of a report of the Committee on the East African Community Affairs on the sector Ministerial Policy Statement for Financial Year 2023/24.
- The report cites the lack of a uniting language [Kiswahili] as a huge stumbling block to communication, a key ingredient of EAC integration.
Uganda’s Ministry for East African Community Affairs (MEACA) is seeking $24 million for the coordination and promotion of Kiswahili as an official language.
This is part of the recommendations of a report of a Committee on the East African Community Affairs on the sector Ministerial Policy Statement for Financial Year 2023/24.
The report presented to the House on Wednesday, 19 April 2023, by the Chairperson, Kisembo Basemera cited the lack of a uniting language [Kiswahili] as a …
- Kenya’s Cabinet Secretary for Investment, Trade, and Industry Moses Kuria is leading a high-powered government delegation to London for the Economic Partnership Agreement and Investment meeting.
- Kenya is leveraging on the talks to intensify pitches to investors.
- This is in an effort to net at least $10 billion in Foreign Direct Investments (FDIs) this year.
Kenya’s Cabinet Secretary for Investment, Trade, and Industry Moses Kuria is this week leading a high-powered government delegation to London for the Economic Partnership Agreement and Investment meeting, that Kenya seeks to intensify pitches to investors.
The government is aiming to net at least $10 billion in Foreign Direct Investments (FDIs) this year in a plan mooted by the Kenya Investment Authority.
The forum is being held through a Ministerial Council meeting on the Economic Partnership Agreement, which was scheduled to kick-off on Tuesday, March 21, 2023 in London.
“The forum will provide a platform …
- The influx of used clothes from the west in effect affects the development of textile industries in the EAC
- Five years later, a new administration, Covid-19 and the Russia-Ukraine war not to mention a stronger China economy, the US may reconsider EAC state’s position.
- EA States have 2 years to consider if they want AGOA renewed
In 2015, all major economies in East Africa, Kenya, Uganda, Tanzania, Rwanda and Ethiopia proposed to ban the importation of second-hand clothes but the US would have none of it.
The intention was good, even noble: Banning second-hand imports would strengthen the domestic textile industry which would create jobs and other positive ripple effects.
“The US claimed this proposal goes too far and violates the African Growth and Opportunity Act (AGOA), which aims to expand trade and investment on the continent,” the media reported.
Once the US pulled the AGOA card, the East African …
- DRC, through its investment portal ANAPI reassures investors
- Rwanda slams US statement saying it undermines regional peace process
- EAC Heads of State order immediate cease fire in Rwanda-DRC conflict
Rwanda should stop supporting the rebel group and withdraw its soldiers from the DRC, the US State Department has said in an official statement.
This US call for Rwanda to ‘cease and desist’ aiding rebel groups and to also recall its troops from the DRC is the latest effort by the international community to intervene in the protracted dispute between the two countries.
The US says Rwanda’s alleged aid to rebel factions in the DRC is undermining the regional peace process.
The statement comes only days after the East African Community (EAC) Heads of State met in the Burundi capital of Bujumbura. The meeting was an Extra-Ordinary Summit held to evaluate the “Security Situation in the Eastern Democratic Republic of Congo …
- The DRC is viewed as a most promising member of the regional bloc offering a market of over 96 million people.
- DRC is also rich in many coveted minerals such as cobalt and Nickel, gold, and diamonds, which has caused a long-standing conflict.
- The EAC peace forces in the DRC were sent in early last year to restore peace and stability in the region.
The East Africa Community (EAC) has been touted as a model for regional economic blocs in Africa but the tension between Rwanda and the bloc’s newest member, DRC, is threatening to derail the region’s social and economic integration.
The two neighboring countries have had a dicey relationship in the recent past with the largest country of the EAC, the DRC, accusing the smallest country in the region, Rwanda, of supporting rebels within its borders.
The DRC is viewed as a most promising member of the regional
- Limited infrastructure, lack of standardized regulations and high air transport costs are among the challenges affecting the air transport sector in the East African Community according to a new report by East Africa Business Council.
- According to the report, limited liberalization of air transport contributes to high flight ticket rates and visa restrictions limit the movement of non-residents into the EAC region.
- The report calls for an EAC single air transport services agreement in a bid to lower the cost of air transport within the region.
Air Transport costs in the East African Community are higher than those in Europe and other African countries according to a new report by East Africa Business Council.
According to the report, the ticket price per kilometre in the EAC region is more than twice the ticket price for destinations in Europe and other countries in Africa.
‘‘The average ticket price per km in …
- Region economic communities such as East African Community (EAC) are opening doors for citizens to expand their hands across various economic opportunities.
- The movement of people over space and time is the bloodline of the modern world’s economies.
- South Africa, Africa’s highest ranked passport, was position 54 globally with South Africans having visa-free access to 106 nations.
A recent World Economic Forum (WEF) report revealed that an American passport holder can access 43 percent of the global GDP without a visa while a United Arab Emirates (UAE) passport gives access to 70 percent of the global GDP.
In contrast, the Nigerian (top African economy) passport holder can access 20 percent of the world, equivalent to 1.5 percent of the global GDP. The measure of access is a wake-up call on assessing strategies and measures regarding the movement of people over space and time in Africa.
Since the launch of the …
- EAC Partner States need to fast-track implementation regulations on the liberalisation of air transport
- An extra 155,000 jobs and US$1.3 billion in annual GDP would be created if 12 countries opened their skies.
- Africa has formed the Single African Air Transport Market (SAATM) to spearhead a single unified air transport market to advance the liberalization of civil aviation in Africa.
In the spirit of creating a single market and increased integration of Africa’s 54 nations, stakeholders want airlines operating within the continent to lower fares.
Recent research by the International Air Transport Association (IATA) showed that ‘if just 12 key Africa countries opened their markets and increased connectivity, an extra 155,000 jobs and US$1.3 billion in annual GDP would be created in those countries.’
These are significant figures by any measure and IATA, the trade association for the world's airlines, representing some 260 members, maintains that lowering flight prices in…