Browsing: EAC

• Fuel price rise across EAC
• National Assembly hears public outcry on the rising cost of living
• Governments working on solutions to lower fuel prices

Prices of essentials are increasing rapidly across the East Africa Community (EAC) from basic home needs like food and water to fuel and transportation, inflation has hit the region hard.

According to the Tanzania National Bureau of Statistics (NBS), the cost of food in Tanzania increased 6.60 percent in April of 2022 over the same month in the previous year.

NBS also contends that the country’s Annual Headline Inflation Rate for the month of April, 2022 increased to 3.8% from 3.6% recorded in March 2022.

According to NBS, Headline Inflation Rate measures inflation when all items in the fixed Consumer Price Index (CPI) basket are included.

“The increase of headline inflation explains that the speed of price change for commodities for the year ended April 2022 …

• President Uhuru Kenyatta has achieved a lot in his tenure as the Chair of the East African Community, EAC Secretary General Peter Mathuki has said
• Mathuki pointed out that other key achievements of President Kenyatta as the EAC chair include the admission of DR Congo into the community
• Mathuki said President Kenyatta’s tenure as the EAC chair also saw the implementation of the common external tariff that discouraged the importation of goods that could be produced locally

President Uhuru Kenyatta has achieved a lot in his tenure as the Chair of the East African Community, EAC Secretary General Peter Mathuki has said.

Speaking ahead of the 22^nd Ordinary Summit of the East African Community (EAC) Heads of State in Arusha, Tanzania, Mathuki pointed out that other key achievements of President Kenyatta as the EAC chair include the admission of DR Congo into the community.

“DRC is a full member …

Infrastructure development continues to be a vital driver of foreign direct investment (FDI) since logistics are so necessary for global business development, mainly e-commerce, which is now a significant generator of income and jobs at home and abroad.…

• Democratic Republic of Congo will host a major investment summit 27-29 June in Kinshasa
• Favourable policy changes to be discussed by top government officials
• President Felix Tshisekedi government reassures investors of security measures

Only three months after joining the East Africa Community (EAC) the Democratic Republic of Congo will this June host its inaugural DRC Investment Summit that will open the doors to Central Africa’s investment opportunities like never before.

Scheduled to take place from 27 – 29 June 2022, the two day summit will feature expert sessions that will highlight investment opportunities in the country. These sessions will provide a one of a kind platform allowing investors to learn of and hold in-depth analysis linked to policy making as well as global supply and demand movements

Organised by the government of the DRC, this inaugural summit is a global meeting place for investment in the Democratic Republic of …

President Kenyatta’s message was conveyed in a recorded video statement delivered on Wednesday evening during a virtual Inter-Congolese Peace Dialogue convened by Kenya.

The Head of State pointed out that the value of peace is unique and uncontested, adding that nothing enduring can be built on the shifty soils of insecurity.

“The historical call to be our brothers’ keepers is a bell that has been tolling and to which Kenya always keeps responding. We will not relent in your pursuit of peace for prosperity. This is why we reached out to you, our brothers, our sisters of the DRC,” President Kenyatta said.…

Since the beginning of the Russia-Ukraine crisis, fertilizer prices have risen by 21 per cent.

It was noted that “the recovery of Africa has been impeded by greater inflation and tighter global financial conditions as well as rising interest rates,”

To counter external shocks, such as the Ukraine crisis, she urged public and private sector partnerships to enhance intra-African agri-food, industry, and service trade. She also urged the continent’s recovery from Covid-19 to get back on track.

When asked if Africa needs a second Marshall Plan, Keita said that Africa already has an effective one, in the AfCFTA, that may help it prepare for unpredictable times.…

Similarly, as the country took internal measures to help the sector recover, the entire region, under the East African Community (EAC) moved to do the same. The EAC’s Sectoral Council on Tourism and Wildlife Management recently approved what it termed, the EAC Regional COVID-19 Tourism Recovery Plan.

Under this recovery plan, the EAC looks to work collectively towards the recovery of tourism in the region by supporting measures already adopted by individual countries in the bloc. A key agreement here was harmonization of guidelines to restore tourism and hospitality.

The Council approved the draft regional guidelines which are meant to build coherence in the measures that individual countries take to revive tourism. The Council insisted that if they work under the same guidelines then they will be able to earn trust and confidence of international tourists.…

World Bank further notes that the unified digitisation of the East African economy is estimated to generate up to a US$2.6 billion boost in GDP and 4.5 million new jobs that will largely benefit those at the bottom of the pyramid.

Data by GSMA reveals that by the end of 2020, 495 million people subscribed to mobile services in Sub-Saharan Africa, representing 46 percent of the region’s population, an increase of almost 20 million on 2019.

GSMA revealed that smartphone connections will more than double by 2025 in Sub-Saharan Africa with the East African Community registering the largest incremental growth, led by Rwanda and Tanzania. …