Browsing: East African Community (EAC)

Port of Mombasa

Kenya’s Mombasa port has for years remained the leading harbour in East Africa, serving traders in the country and neighbouring landlocked states. Uganda is the biggest destination for transit cargo through the Port of Mombasa, accounting for about 83.2 per cent of transit cargo through the Kenyan port. South Sudan takes up 9.9 per cent while DR Congo, Tanzania and Rwanda account for 7.2 per cent, 3.2 per cent and 2.4 per cent, respectively.…

East Africa Energy Potential
  • Kenya National Oil Corporation CEO Gideon Morintat will lead talks on the untapped potential of East African energy market in October forum.
  • With 1.4 billion barrels of recoverable crude oil reserves and significant gas resources, Uganda ranks among Africa’s fastest growing energy markets.
  • In the renewables and power sectors, Uganda is diversifying energy mix by maximizing biomass, nuclear, solar and green hydrogen production.

Kenya’s oil and gas sector may be modest today, but stakeholders are joining forces to harness East Africa’s (EA) energy potential as significant discoveries across countries raise the stakes for investors.

At the upcoming African Energy Week (AEW), which will go on between October 16-20 in Cape Town, Leparan Gideon Morintat, the CEO of the Kenya National Oil Corporation (NOC), will lead discussions on the untapped potential of the East African energy market.

Engaging with a diverse range of investors and project developers, Morintat aims to attract …

Kenya's mining sector
  •  In Kenya, mining yields high-grade quantities of gold, copper, ilmenite and tantalum.
  • Kenya is an important source of non-metallic minerals including soda ash, limestone, salt, niobium, fluorspar and fossil fuels.
  • Titanium ores have for the last decade remained top mineral forex earner for Kenya.

A plan to give Kenya’s mining sector a makeover is underway, with policymakers banking on reforms that can attract investors as the country seeks to grow the revenue base.

The move comes four years since the 2019 government moratorium on the issuance of new prospecting and mining licenses. At the time, the government had not renewed licenses since 2015 when about 65 companies saw their permits revoked.

Those in operation run under a gazette notice. For companies whose permits expire, they are forced to seek special clearance from the ministry. The freeze on issuance of new licenses was to allow for geospatial surveys to map out …

Kenya's textile industry

A recent report has revealed that the ban on second-hand clothing, also known as mitumba, might not enhance Kenya’s textile industry as previously anticipated. The report commissioned by the Mitumba Consortium Association of Kenya (MCAS) on the Second-Hand Clothing Industry in the East Africa Community has cautioned against protectionism towards importing second-hand clothing.…

The Malaba OSBP. The EAC has operationalized 13 One Stop Border Posts.

The East African region has a long history of cooperation stretching back to 1900 when a Single Customs Collection point was established at Mombasa. Still, Non-Tariff Barriers remain a challenge to trade. The first instance of regional integration dates back to 1917 between Uganda and Kenya.…

Kenya-EU trade deal
  • Kenya will progressively allow more imports from the EU into its market.
  • An EU official terms the trade agreement with Africa’s seventh largest economy “a partnership of equals”.
  •  Under the Kenya-EU trade deal, Nairobi’s exports to European bloc will be tariff-free from day one.

A new Kenya-EU trade deal will see Nairobi’s exports to the European bloc enjoy tariff-free status from day one, while tariffs on EU exports will be liberalised over time but not on all products. The Kenya and European Union trade deal will provide new opportunities for Kenyan and European businesses, including the micro-, small- and medium-sized enterprises.

The two parties have concluded negotiations on the much awaited Economic Partnership Agreement. A new era of Kenya-EU trade ties will start in post-Brexit world where Brussels is exerting more influence across Africa.

European Commission Executive Vice-President and EU Trade Commissioner Valdis Dombrovskis and Cabinet Secretary of Kenya’s Ministry …

Plastic pollution. Recycling funding does more to address the challenge.
  • Leaders are meeting in Nairobi for the Eastern Africa ‘Waste is Wealth’ conference.
  • The inaugural Waste is Wealth Series is organised by Taka Ni Mali, East African Business Council, and Alliance for Science.
  • The three-day conference is themed: Promoting Effective Waste Management Practices for Environmental Conservation and Climate Change Mitigation.

The concept of a circular economy is fast gaining momentum in East Africa with both the private sector and government’s stuck on the drawing board shaping policies and regulations to help realise the shift.

World business leaders, policy makers, academics and NGOs have argued that a move towards a more circular economy is necessary to help solve global environmental and economic challenges.

Moving towards a more circular economy could increase competitiveness, and stimulate innovation. It will also boost economic growth and create jobs across economies.

Waste is Wealth

It is against this background that leaders are meeting in Nairobi for …

Stock market defies disputes over presidential poll results
  • Kenya’s Nairobi Securities Exchange posted drop in capitalization in April due to investor flight.
  • Other poorly performing bourses were Uganda, Mauritius, Namibia, Morocco, Tanzania, Rwanda and Tunisia.
  • Zambia, South Africa, Ghana and Egypt remained positive railing Zimbabwe and Malawi.

Zimbabwe has maintained the lead in the African equity markets returns by recording the highest gains at 112.33 percent year-to-date, the latest data shows. In the period under review, Malawi recorded the highest month-on-month value of 10.96 percent.

At the same time Kenya posted the highest drops both on year-to-date and month-on-month, Nairobi Securities Exchange (NSE) monthly barometer indicates, which stood at negative 15.56 percent and minus 3.52 percent, respectively.

Other poor performers across Africa were Uganda, Mauritius, Namibia, Morocco, Tanzania, Rwanda and Tunisia. In West Africa, Nigeria performed poorly on the month-on-month index but remained positive year-to-date. Zambia, South Africa, Ghana and Egypt remained positive railing Zimbabwe and Malawi.

Kenya’s …

East Africa Trade
  • Kenya’s President William Ruto says the free movement was necessary for sustainable growth in the Horn of Africa.
  • Dr Ruto calls on member states in the region to eliminate national boundaries that are chocking growth.
  •  EAC Secretary General Peter Mathuki notes EAC can address challenges in advancing movement of goods and labour.

Barriers to free movement of goods and people are chocking East Africa’s regional integration. To unlock the bloc’s trade potential, Kenya’s President William Ruto is calling in the East African Community (EAC) and the Intergovernmental Authority on Development (IGAD) to remove barriers to free movement. Dr Ruto urges that free movement of people, goods and services can significantly enhance East Africa’s regional integration.

The Kenyan President notes the free flow of goods and capital was necessary for sustainable growth across East Africa.

The President is now challenging regional member states to eliminate national boundaries that have since become …

Kenya's tea sector
  • Across the East Africa region, Rwanda posted the strongest performance.
  • Uganda’s economy grew by 4.4 percent in 2022 compared to a 6.7 percent uptick in 2021.
  • Tanzania’s real GDP expanded by 4.5 percent in 2022 compared to 4.9 percent growth in 2021.

Kenya’s economy recorded a slower growth of 4.8 percent last year as agriculture slumped due to severe drought. In 2021, Kenya posted 7.6 percent growth as the country emerged from Covid-19 induced economic fallout.

Latest data from the Kenya National Bureau of Statistics show that East Africa’s economic powerhouse growth outpaced its neighbours. Kenya saw its nominal GDP increase to $98.24 billion, from $87.98 billion in 2021, retaining its pole position over East African peers.

Uganda’s economy grew by 4.4 percent in 2022 compared to a 6.7 percent growth in 2021. The marginal drop was partly on account of recovery in hospitality and other service sectors as schools …