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Browsing: East African Business Council (EABC)
- Standard Bank has developed the Africa Trade Barometer, a tool that blends qualitative and quantitative data across African markets.
- The Africa Trade Barometer is instrumental in solving access to information, a significant non-tariff barrier in Africa.
- It provides a near real-time view of trade openness, access to finance, and macroeconomic stability data among others.
Standard Bank, the biggest lender by assets across Africa, has thrown its weight behind the African Continental Free Trade Area (AfCFTA) saying it is a key opportunity to alleviate poverty, drive economic activity and achieve prosperity.
By eliminating trade barriers, AfCFTA aims to lift about 30 million Africans out of poverty by increasing incomes across the continent by seven percent by 2035. Once implemented, AfCFTA will be the world’s largest free trade area ever rolled out.
Standard Bank wants to power AfCFTA take-off
Recent global supply chain woes suffered in Africa illustrate the urgent need of …
- Price point remains a key magnet for fakes across East Africa. Counterfeit products are often cheaper than their genuine counterparts, making them easy picks for people shopping for a bargain.
- Some of the most counterfeited products in the region include pharmaceuticals, pesticides, electronics, cosmetics, alcohol, and cigarettes.
- According to the East African Business Council, counterfeit products, primarily fast-moving consumer goods, are costing East African states between US$500 million and US$1 billion per year.
Counterfeiting sticks like a sore thump or a bad hangover causing a big headache for governments and policymakers across East Africa as rising number of products including pesticides, cigarettes, and alcohol become deeply affected by the menace.
Some of the most counterfeited products in the region include pharmaceuticals, electronics, cosmetics, liquor, and cigarettes. Other products that are often counterfeited are clothing, shoes, and accessories, as well as automobile parts such as batteries.
The illegal trade of…
- Rwanda and Kenya who have already started trading through the agreement.
- Mid-February, Tanzania also said it was ready to trade under the agreement.
- The implementation of AfCFTA is projected to increase intra-African trade significantly, especially in manufacturing.
Uganda has expressed readiness to join Kenya, Tanzania and Rwanda in trading under the African Continental Free Trade Area (AfCFTA) as the continent slowly embraces the pact.
The implementation of AfCFTA is projected to increase intra-African trade significantly, especially in manufacturing.
The share of intra-Africa exports to total global exports is expected to increase in Tanzania by 28 per cent, Uganda by 29 per cent, Rwanda by 33 per cent and Kenya by 43 per cent.
“As Ugandan private sector, we are ready to trade under the AfCFTA Guided Trade Initiative and follow our counterparts from Rwanda and Kenya who have already started trading through the agreement,” East African Business Council (EABC) Vice …
The CET maximum rate was a realization by the EAC Secretariat on the proposed Common External Tariff (CET) rates of 30 per cent, 33 per cent and 35 per cent classified under the fourth (maximum) band, which include textiles, iron, steel and motor vehicles.
The East African Business Council (EABC) urges the partner states- Kenya, Uganda, Tanzania, Burundi, Rwanda and South Sudan- to adopt the maximum CET tariff trade to spur industrialization and strengthen the regional value chain.
In 2020, the total intra-EAC trade stood at 11.8 per cent, amounting to US$6.39 billion. The proposed 35 per cent tariff is set to boost the trade between EAC member states to US$6.4 billion.…
East African Business Council (EABC) and the East African Community (EAC) have held talks on strengthening the region’s private sector.
The new EABC Executive Director/CEO Mr. John Bosco Kalisa on Tuesday July 6, 2021 paid a courtesy call on the EAC Secretary-General Dr. Peter Mathuki at the EAC Headquarters in Arusha, Tanzania where private sector development and resolution of trade barriers were noted as top priorities for the East African Community (EAC).
The move is set to increase Intra-EAC trade and promote the region as an investment destination.
Dr. Mathuki noted that the private sector is key to fast-tracking regional integration and reiterated his commitment to collaborating with EABC to strengthen private sector development in the region.
“Following my engagements with EAC Heads of State over the past two months, a strong private sector and public sector partnership is the engine in driving the Community to prosperity,” Dr. …
United Kingdom High Commissioner to Tanzania David William Concar has visited the East African Business Council (EABC) Offices in Arusha.
EABC is the regional apex body of private sector associations and Corporates from the 6 East African countries which was established in 1997 to foster the interests of the private sector in the integration process of the East African Community.
The UK High Commissioner was welcomed by EABC Chief Executive Officer Mr. John Bosco Kalisa on Monday July 05, 2021 which was his debut day in office.
TradeMark East Africa (TMEA)
Mr. Kalisa who made his remarks while in his office appreciated the United Kingdom (UK) support to East African Business Council through TradeMark East Africa (TMEA) and highlighted the importance of the private sector as the driver of socio-economic growth in the East African Community region.
TMEA works closely with EAC institutions, national governments, the private sector and civil …
Conversation on market access has always been an interesting one. especially when it involves regional trade. A lot of factors come into play when this is mentioned. A lot of information is not readily available to players to make an informed decision with, whereas for the readily available information, players do not know about this fact.
The regional business body has noticed this and has organised a workshop to iron out some of these issues. They have rolled out this project in Burundi.
In partnership with the International Trade Centre (ITC), the East African Business Council (EABC) and the Federal Chamber of Commerce and Industries Burundi (CFCIB) and Association of the Traders of Burundi (ACOBU) are carrying out a workshop for trade practitioners in Burundi on the World Trade Organization’s Trade Facilitation Agreement (TFA).
This workshop has been organized as part of the European Union-East African Community Market Access Programme …
The East African Business Council (EABC) has called on the East African Community partner states to mutually recognize COVID-19 certificates among on the bloc.
This will play a big role in easing up the traffic snarl up that has been happening at the regional borders since these measures were put in place.
Regional traders have in the past few months been complaining of delays at the border which is negatively affecting their businesses.
EABC has therefore called upon the EAC member states to restock reagents at border posts, to minimize traffic snarl-ups at the Busia and Malaba border posts.
Currently, the traffic of trucks headed to the Busia border starts at Mundika town, 15 kilometers to Busia border while the traffic snarl-up to Malaba one-stop border post is exceeding 30 kilometers.
With about 55 trucks stalled per kilometer, this implies that more than 2,400 trucks destined for Uganda are still …
The East African Business Council has lauded the President of the United Republic of Tanzania, H.E. John Pombe Joseph Magufuli and the President of the Republic of Kenya, H.E. Uhuru Kenyatta, for their directives on ensuring free movement of goods across borders between Kenya and Tanzania, which will facilitate increased trade between the two countries.
In a statement, EABC therefore urges the Ministers Responsible for Transport, Health and EAC to convene and find a win-win lasting solution to the barriers hindering the free movement of cargo across EAC borders and in particular, the borders between the two countries.
“The fourteen (14) days standstill on the movement of goods between Kenya and Tanzania borders risks business continuity and affects intra-EAC trade. There are over 1000 trucks stranded at both sides of the border, this is significantly affecting the intra-EAC trade and movement of essential and perishable goods across borders.” The statement …
The regional heads of state have resolved to adopt a harmonised system for certification and sharing of covid-19 test results across East Africa.
This came out at the heads of state consultative meeting of the East African Community that took place on the 12th of April 2020.
The heads of state took note of the EAC regional covid-19 response plan and its key targeted interventions and directed the ministers responsible for health, trade, transport and EAC affairs to ensure that it complements the partner states’ national covid-19 response plans.
“The heads of state noted that information sharing is key during crisis such as the covid-19 pandemic and directed the ministers responsible for health, trade, transport and EAC affairs to finalise and adopt an EAC digital surveillance and tracking system for drivers and crew on covid-19 for immediate use by partner states.” Read the communique that was released at the …