Browsing: Regional integration

• Kenya Ports Authority handled 37,576 metric tons  of cargo in 2023, according to its Managing Director.
• The KPA MD revealed the gantry cranes were procured to the tune of $31,493,808
• One of the notable recent investments by KPA is the construction of the second phase of the Lamu Port.

The Lamu port is poised to become a key driver of economic growth and regional integration, according to industry players.

Kenya Ports Authority (KPA) Managing Director Captain William Ruto said the impressive statistics underscore the vital role that the Lamu port plays in facilitating trade and driving growth in the region.

He added that this results from its container capacity of 1.2 million twenty-foot equivalent units (TEUs) across its three berths of 4000 meters each.

 “The Lamu facility is poised to become a key driver of economic growth and regional integration,” he pointed out.

Captain Ruto disclosed last year that …

• Non-tariff trade barriers are restrictions trade blocs impose to further their political and economic goals.
• Kenya and Tanzania are working on resolving non-tariff trade barriers that have stifled business between East Africa’s largest economies.
• Kenya is a crucial partner for Tanzania and is the largest source of African Foreign Direct Investment in Tanzania.

The East African Community

Countries have adopted regional trading blocs as a strategy to increase global competitiveness. The East African Community (EAC) member states are dedicated to enhancing economic efficiency and fostering regional integration through strategic investments using established industries.

EAC aims to position the Community as a single investment area, harmonising trade policies, investment incentives, and product standards.

At the beginning of its operations, EAC ended non-trade barriers (NTB) between member countries intending to liberalise trade. However, this affected the NTB imposed by the members, especially Kenya and Tanzania, who are critical traders in the market.…

• Zambia-Tanzania Trade Route expansion enjoys the support of senior government, diplomatic, and development sector officials. 
• The Nakonde/Tunduma border is one of the busiest entry/exit points for cargo in and out of Zambia.
• The design reviews for Nakonde OSBP were finalised over the last year

The Government of Zambia and TradeMark Africa (TMA) have entered into a Partner Support Agreement (PSA) to upgrade the Nakonde One Stop Border Post, a key Zambia-Tanzania Trade Route.

Funded by the UK government, the $7.7 million (ZMK 197 million) project will improve the flow of goods and people along the Dar es Salaam Corridor, promising to streamline operations and reduce cargo clearance times by more than 100 per cent on both sides of the border.

Clearing cargo trucks crossing the border takes more than two days, leading to significant business delays and losses.

Zambia’s Finance Minister, Situmbeko Musokotwane, and TMA’s CEO, David Beer, launched the …

• The AU Summit 2024 is taking place in Addis Ababa, Ethiopia.
• The AU Summit 2024 has brought together the Committee of Ten Heads of State and Government.
• Marking a historic first, the year dedicated to Education follows its endorsement at the 36th Ordinary Session of the Assembly of AU Heads of States.

Finance and economic experts from Africa have called on African leaders at the AU Summit 2024 to match unity speak with actions and step up regional integration efforts, as theselatex hood brock bowers jersey adidas yeezy boost 350 turtle dove custom stitched nfl jersey air max 270 women air jordan 1 element air max 270 women jordan proto max 720 borsa prima classe black friday wig sale asu football jersey asu football jersey luvme human hair wigs jock strap custom sublimated hockey jerseys are key to the continent’s agency and success in the push for debt reforms …

• President Mama Samia Suluhu Hassan is leading Tanzania to become Africa’s greatest transportation corridor. 
• The comprehensive transportation developments in Tanzania are strategically designed to boost economic growth, enhance regional trade, and foster regional integration.
• Tanzania faces challenges in financing and meeting construction timelines for its ambitious projects.

In the heart of East Africa, a remarkable transformation is unfolding. Led by President Mama Samia Suluhu Hassan, Tanzania is emerging as a formidable economic powerhouse on the continent. Under her stewardship, the nation strategically harnesses its geographic location and embarks on ambitious infrastructure projects that promise to redefine its role regionally and globally.

With a visionary approach, President Suluhu Hassan is steering Tanzania towards becoming Africa’s most significant transportation corridor. This transformation is anchored in large-scale investments in transportation infrastructure, encompassing rail, road, air, and sea connectivity. These initiatives reflect an acute understanding of the pivotal role that efficient, modern transportation systems …

According to the Central Bank of West African States (BCEAO), growth should accelerate in the WAEMU economic region in the medium term. The increased production in the tertiary and secondary sectors remains crucial. These sectors should benefit from controlling the current health crisis in the Union and the continued implementation of the NDPs.

Growth in the Union is expected to drop from 6 per cent in 2021 to 5.9 per cent in 2022 before settling at 7.2 per cent in 2023. The contribution to growth from the tertiary sector should stand at 3.5 per cent in 2023, up by 0.3 points compared to 2022. The contribution of the secondary sector should grow by 0.9 points between the two years to settle at 2.6 per cent in 2023.…

The East Africa private sector is upbeat on the expansion of trade and investment in the region and a rejuvenated and progressive bloc, following the assumption of office of Dr. Peter Mutuku Mathuki, as the new East African Community (EAC) Secretary-General.

Dr. Mathuki, an ardent champion for the inclusion of the private sector into the regional integration agenda, has this afternoon officially taken over as the new EAC Secretary-General, for a five-year term, at the EAC Secretariat headquarters in Arusha, Tanzania.

“Strengthening mechanisms to resolve persistent Non-Tariff Barriers (NTBs) that hamper intra EAC trade, deepening implementation of the Common Market protocol and restructuring the EAC Secretariat to achieve the mandate envisaged in the Treaty are some of my key priorities,” he noted in his inauguration speech.

In his first year in office, Dr. Mathuki, outlined that he will prioritise the full operationalization of the amended EAC Elimination of Non-Tariff Barriers …

Any predictions regarding what economies are going to look like after this crisis, have to be taken at face value by the best buyer. In other words, I believe that any forecast carries a great deal of speculation, as we are sailing uncharted waters and the last few months have proven that, so to compare the current situation to any past crisis is not very efficient to say the least.

Nevertheless, speculation is what we have at hand, and much like everyone else locked up in quarantine, I have been observing the developments and formulating some theories. I’ve also had the privilege of speaking to some very insightful people as I moderated and shared my opinion in a number of webinars and other online platforms, particularly as to the key changes African economies may face in this new reality.

It goes without saying that with over 50 countries on the …