Browsing: Italy

A session at the ICJ. The Court has ruled in favour of Somalia by defining the boundary using a 1934 treaty agreement between Italy and Britain.

Trade between the two countries has also suffered from the March 2020 Somalia ban of the importation of Miraa/khat from Kenya. This followed a decision by Kenya to stop issuing visas on arrival to Somalis.

But there could be a silver lining for traders from both countries since in August 2021, Somalia Prime Minister Mohamed Hussein Rooble assured that cross border trade between Kenya and Somalia would resume soon.

Prior to the announcement, Rooble held a closed-door meeting with Somali traders in Mombasa Wednesday. The meeting called for the strengthening of the diplomatic relationship between the two countries and the continuous collaboration in different sectors of the economy.…

Coronavirus inspired global recession or is it depression for Africa?

Economists define a recession as a subdued growth that lasts at least six months and goes for another 18 months while depression can last up to a decade. The global economy was already heading to a recession even before the outbreak and spread of COVID-19.

What has followed is global market players and governments pumping millions of dollars to contain the spread of the virus that has Wuhan city and its epicenter. The US and Europe have already announced setting up of special kitty to treat, contain and mitigate the effects of the virus both as a disease as well as the economic heat that comes with the disease.

China, the second-largest economy in the world and Italy- Europe’s third-largest economy and 8th globally- have been severely affected by cities like Rome remaining ghost-towns as economic and commercial activities come to a halt. There is a growing fear that the …

Africa's China-led common-man economy in turmoil as it awaits Coronavirus landfall

Anastacia Mukami sells fruits and vegetables at the Kiambu town market, a few kilometers north of Nairobi, Kenya’s capital. Within a month, the price of cloves of garlic has almost doubled, currently selling at 35 shillings up from 15 shillings. This, she says has led to a reduction in the number of cloves she sells in a day as the supply from China becomes more scarce.

Just like the rest of the world, Kenya is reliant on garlic shipped from China, and with the Asian giant facing near lockdown, the supply to traders like Mukami is dwindling and the economic effects of goods from China is starting to be felt across the African continent. The Directorate of Horticulture says that Kenya imports over 50 percent of garlic from China, and some more from Tanzania.

It is not just garlic sellers that are facing a bleak and uncertain future. The eastern …

Italy funds agri-business development in Egypt and Iran

The Italian Development Cooperation contributed more than €4.55 million to two United Nations Industrial Development Organization (UNIDO) projects in Egypt and Iraq.

A signing ceremony to launch the projects took place at the UNIDO headquarters.

The Egypt project was developed after an in-depth analysis of the Egyptian tomato value chain. Egypt is the world’s fifth-largest producer of tomatoes producing about eight million tonnes of fresh tomatoes per year. Suitable climate, dual seasonality and fertile lands attributed to the success of the crop. However, only three to four per cent of the tomato crop is processed, with the processing sector affected by lack of integration with the supply chain.

Also Read: Israel starts exporting natural gas to Egypt

The project will boost the linkages between supply and processing factories, improve the technical skills of workers and managers in the factories, improve the quality of production and processing of tomatoes and expand …

Coffee beans-The Exchange

The country`s coffee production is projected to dwindle by 23 per cent in the 2019-2020 season.

Africa`s fourth biggest coffee producer, Tanzania said the overall production in coffee would drop by 23 per cent in the next period due to delayed rainfall in the Northern regions, according to the Tanzania Coffee Board.

The crop for the season that starts in July may decline to 50,000 tonnes, the Tanzania Coffee Board stated on Monday 13th May, 2019 in a statement. It said last month that the country had experienced dryness in many growing areas, and that farmers would start collecting crops in May in the Kagera and Mara regions of the country.

After missing earlier targets to boost production, the country is considering distributing seedlings to farmers in an effort to double supply in five years. Arabica coffee accounts for more than half of Tanzania`s output, and it mainly ships …