Browsing: EAC

Partner states of the East African region have been urged to fast-track the finalization and implementation of EAC regulations on liberalization of air transport services.

This is amid a finding which reveals that the high cost of air transport in the region is attributed by slow pace of liberalization.

According to the East African Business Council (EABC), liberalization of air transport services will lower flight costs and in turn reduce the cost of doing business in the region.

A finding by the latest policy paper by EABC dubbed, ‘Costs and Benefits of ‘Open Skies’ in the East African Community’, says that air-transport liberalization is set to lower flight costs by 9 percent and see a 41 percent increase in flight frequencies.

According to the paper, despite the commitments of the EAC Partner States at the international level, the domestic air transport sector remains protected, reducing accessibility and increasing air transport …

Kenya has been lauded for its decision to waive the requirement of obtaining a visa to enter the country by citizens of the Republic of South Sudan who hold valid passports.

In a statement, the East African Community (EAC) Secretary General, Dr. Peter Mathuki, said that the move was in line with the decision announced by the Chair of the EAC Heads of State, President Uhuru Kenyatta, during the 21st Ordinary Summit of the EAC Heads of State held on 27th February, 2021.

“This demonstrates the goodwill among the EAC Heads of State in promoting regional integration and revamping relations, which is set to boost intra-EAC trade,” said Dr. Mathuki.

Other Partner States that have also waived visa requirements for South Sudanese citizens are the Republic of Rwanda and the United Republic of Tanzania.

Dr. Mathuki lauded the Republic of South Sudan, which has in the spirit of reciprocity also …

The EAC bloc should urgently work to attract international investors and embark on joint regional investments in the vaccine manufacturing industry for quick economic recovery.

This is according to East African Business Council Chairman Nicholas Nesbitt who is calling for a coordinated approach on COVID-19 measures to spur EAC economic recovery and growth.

Nesbitt noted that joint EAC investment offers a larger pool of capital resources, expertise and market.

At the same time, EAC’s board has directed the EABC Secretariat to champion advocacy on the adoption of open skies and one network area to reduce the cost of doing business in the region.

The board said that open skies attract regional tourism and improve consolidation of EAC exports to overseas markets such as horticulture.

According to the board, open skies are also critical in supporting the resilience and recovery of tourism, hospitality and transport sectors, which were highly impacted by …

Business people in the East African Community are now set to benefit through prompt resolution and intervention of issues disrupting trade, following the launch of the EAC-EABC Technical Working group (TWG).

Based in Arusha Tanzania, the Technical Working Group launched by the East African Community (EAC) and East African Business Council (EABC) – the umbrella body bringing together private sector associations in East Africa- is tasked with receiving and synthesizing issues received from the private sector at various levels and advise on appropriate solutions.

A statement by the EAC-EABC has revealed that the team will be chaired by EAC Director General for Customs and Trade, Kenneth Bagamuhunda and co-chaired by EABC CEO John Bosco Kalisa. It will also entail members from the national apex private sector associations in the EAC region.

The team will be responsible for following up on challenges disrupting intra-EAC trade raised by businesses and support their …

EAC Partner States have begun the 2021/2022 financial year with a focus on economic recovery through industrialization and inclusive growth.

This comes at a time when the coronavirus pandemic has had adverse effects on economies across the region and worldwide.

Data by Deloitte indicates that the outbreak led to disruption in the various sectors, most notably the financial industry and the tourism and hospitality sectors.

Additional data by UNECA adds that the effect of the pandemic on growth in Eastern Africa has been heterogeneous. The organization added that the impact has been more severe for countries dependent on tourism.

Kenya’s Principal Secretary for EAC, Dr. Kevit Desai, said that the region was putting in place strategies to ensure economic recovery in all Partner States from the destructive effects of the COVID-19 pandemic.

“As a region, we have witnessed the devastation created within the economies of the Partner States, including the …

The future is here and the future is digital. Who can in these modern times imagine doing business without Internet?

Tanzania is no exception, from farmers checking for current product prices online and SMEs growing their market via Social Media, to international conglomerates banking online and governments twitting policies changes, life as we know it, has gone digital.

That been the fact, the need for safe, reliable and affordable internet services is ever growing. While we all use the internet but here is a quick question, do you know your Internet Service Provider (ISP)?

Since 2011, Flashnet has been meeting and exceeding business Information Technology (IT) needs covering both connectivity to productivity; From Connectivity, Managed IT, Cloud, Unified Security and Collaboration tools for your business like the celebrated Office 365, a partnership with Microsoft to provide you tailored network services or the Zoho Workplace, an application suite built for unified …

For the longest time, Africa has been regarded as a hub of extraction, with a history of colonialism that resulted in colonialists exporting raw materials and labor from the continent at little or no fee at all. However, Africa is rewriting the pages of history, and taking charge of its economic well-being. 

No longer are African leaders basing their economies solely on the extractive industries, they are spreading their wings to different sectors that will benefit the continent’s economic status. To date, Africa has been said to be the second-fastest-growing economic region after Asia, and forecasts predict the momentum to be maintained as the continent has many factors working in its favor.

Although the continent’s economic status is on the rise, the rate at which different countries on the continent are growing economically is not at par. One country that has seen remarkable growth and is implementing economic policies that …

The government of Tanzania is working on a blue print to increase sell of the country’s agro-produce by setting up bonded warehouses in foreign markets in a bid to boost sells.

The bonded warehouses will for starters be piloted in China and Saudi Arabia and are expected to ease access to markets for agro-produce.

Well first things first. What is a bonded warehouse? These are building or other secured areas in which dutiable goods may be stored or even manufacturing without payment of duty.

Bonded warehouses provide specialized storage services such as deep freezers for perishables as well as bulk liquid storage. They also allow for commodity processing and make up an integral part of the global supply chain by giving the importer opportunity to bring in raw goods, process, package and then sell the final …

Contribution of game meat to total world meat production and consumption is apparently very small, according to reports the world Food and Agriculture Organization (FAO).

In an article titled ‘The new international market for game meat’ FAO cites that records of game meat trade and consumption are even less documented in the international meat trade platforms. “Accurate statistical information is grossly lacking. In many countries even statistical data on conventional meats produced by agriculture leave much to be desired, so the situation can only be worse in the field of game meat,” reads the report in part.

With only developed countries like the United States and some countries in central and northern Europe being recognized for keeping track of game meat, Tanzania has taken an unprecedented step in legalizing the trade of game meat, and keeping of accurate data of the trade.

The development comes under President John Magufuli’s …