Browsing: industry

Because EAC products have been denied preferential market access as a result of trade sanctions, intra-EAC trade is currently at a low of 15 per cent, which will worsen employment opportunities, market access, and the economies of scale of our sectors for East Africans as a whole.

NTBs not only increase the time and cost of doing business across borders, but they also reduce the competitiveness of EAC-produced goods.

NTBs persist and grow because of the lack of an effective EAC trade dispute settlement system (the EAC Trade Remedies Committee) and the poor speed of resolution of NTBs by the EAC Reginal Monitoring Committee (EMC). …

Foreign oil majors have taken a recent interest in Mozambique, but the new facilities are facing challenges beyond the usual social and environmental risks associated with such projects. An Islamic State-aligned insurgency group has attacked Total’s record-breaking investment in the area, raising questions about energy and personal security in the country.

In recent years, Mozambique’s Cabo Delgado province has shot to the forefront of the global oil and gas sector. Discoveries made by US energy firm Anadarko and Italian company ENIhas revealed that more than 2.4 trillion cubic metres of gas off the country’s eastern coast, have attracted the attention of some of the world’s largest oil companies, with Shell, BP, and the China National Petroleum Corporation (CNPC) all making moves in the area.

However, the discovery has come at a cost, with local people displaced by the sudden influx of large-scale industrial operations and the usual concerns over environmental …

It is indeed good news to the Petroleum and other Industry players after Muhammadu Buhari, Nigeria’s President finally appended his signature into law the Petroleum Industry Bill after twenty years of deliberation and revision.

The signing of this historic Petroleum Bill comes barely a month after the Petroleum Industry Bill (PIB) 2021 was voted by both chambers of the National Assembly.

After so many questions surrounded the bill after it was passed by the two houses, major one being whether the PIB was going to be the game changer for the industry, pending the President’s signature, it is now the proverbial saying of only time will tell after the President gave the bill a green light.

The new legislation which aims to Overhauling and transforming the Nigerian Oil and Gas is anticipated to drive investment in the sector by providing a framework for almost all aspects of oil and gas …

Kenya has announced plans to revive small industries across the country, in a bid to spur value addition and market access for targeted products through projects led by the youth.

The Trade, Industrialization and Enterprise Development Principal Secretary Kirimi Kaberia said the ministry has completed mapping out villages and their unique products countrywide, according to Business Daily.

According to the PS, the Ministry is looking to attract more youth into manufacturing through cottage industries.

Kaberia said the government’s plan is to have functional industries in the next 12 months through transfer of resources in the rural areas.

“We want to have an environment where local people consume what they produce,” he said.

The plan, dubbed ‘one village, one product’, is part of Kenya’s Vision 2030.
Why Kenya’s manufacturing is uncompetitive

It is also part of the government’s plan of growing the contribution of the countries manufacturing to GDP from 11 …

Tanzania Investment Centre (TIC) highlights that the East African fastest growing economy (at 7 per cent rate) keeps soaring as it has seized the golden opportunity to attract viable investments across energy, industrial, construction and services sectors.

With the Gross Domestic Product (GDP) growth at 6.6 per cent, investment in Tanzania remains to be the top-selling point.

On October 28, TIC presented rather crucial numbers to the members of the press, showcasing various strides made by the most vital, development parastatal in the country.

According to TIC, over the past 9 months, —227 investment projects have been registered worth over $ 1.7 million.

Further, the projects register fell under the—industrial sector which is anticipated to attract almost 38,836 jobs for Tanzania.

In that context, Bank of Tanzania (BoT), quarterly report (June 2019) indicated that construction, agriculture and transport and storage were among, the top contributors to economic growth.

On the …