Browsing: EAC

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…

In the wake of the ongoing devastating drought that continues to ravage the Horn of Africa at an alarming rate,…

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. 

Constructed under the East African Community regional development project, the road is key to the much aspired regional integration and opens doors to the ports for Africa’s landlocked countries like Uganda, Rwanda and the DRC.

Owing to its importance, the African Development Bank and the Japan International Cooperation Agency (Jica) are among the project funders as well as the Tanzanian government itself through its own internal revenue.

Complete with spar roads, the highway will open up enormous economic potential of each region it passes. On the other side of the border, the Kenyan government has also begun work on the connecting 40km project Mtwapa-Kilifi Road, part of the overall 460km Malindi-Tanga-Bagamoyo East African corridor development project.

The East African economic growth is projected to recover this year despite COVID-19 setback thanks to sustained public spending on…

The East African Community (EAC) and Germany have signed Agreements on technical and financial cooperation worth up to USD 35…