Browsing: SADC

It is legal to say the world as we know it has been kidnapped by the novel coronavirus, which has left thousands dead and millions who have contracted it. The United Nations Industrial Development Organization (UNIDO) confessed that “the economic crisis unleashed by the outbreak of COVID-19 is hurting economies, regardless of income level”. 

According to its latest numbers, UNIDO indicated that both lower and upper–middle-income countries have been significantly impacted by COVID-19, with an average loss in industrial production across countries, standing at 18 per cent (high-income), 24 per cent (upper middle-income) and 22 per cent (lower middle-income). 

The pandemic has hurt a lot of economies but more importantly has taken a toll in some developing countries, such as Kenya and Tanzania who rely on travel and tourism dealing a huge slap on foreign receipts.  

The World Bank …

Africa is great and has the potential to be greater—economically. The youngest continent in the world stands to garner billions in the trade as its youngest generation present a potential to transform, the continent’s economic pillars, from agriculture to investment.

The region has more than 1.3 people and nearly 60 per cent of its population is under 25 years, according to United Nations Data for World Population Prospects 2017. This means that Africa can fetch healthy intra-regional and international trade growth if it utilizes its existing potentials.

As the African Continental Free Trade Area (AfCFTA) is around the corner to be domesticated (postponed due to virus outbreak), the trade pact could ignite Africa’s industrialization and boost income generation.

The trade pact connects more than 1.3 billion Africans in 55 countries with a combined gross domestic product of nearly $ 3.4 trillion while lifting more than 30 million people from extreme …

Half a decade after 22 African countries signed the Tripartite Free Trade Area (TFTA) agreement, only 8 countries have ratified the treaty.

Inked back in June of 2015 in the northern African state of Egypt, the agreement is meant to unify previously existing regional trade bodies the EAC, SADC and Comesa. A noble cause backed by an elaborate list of merits.

This latest free trade pact, the TFTA is an engine to foster intra-Africa trade that is seen as a vehicle to widen Africa trade markets within the continent itself. It is also envisioned to attract more investment, catalyze the development of regional infrastructure and very importantly, give member states a competitive trading age with the rest of the World.

Sounds ice cream coated candy, sweet deal, but five years down the road majority of the member countries remain reluctant to ratify it, why? It begs the question, is another …

Africa is now more connected, technologically savvy, and focused on enhancing its economic systems compared to 30 years ago. The narrative has changed, from civil unrest and extreme donor-dependent economies, to those with record-high tax collections such as in Tanzania, and information communications and technology (ICT) transformation ones such as Rwanda, Kenya and South Africa. The African GDP has grown to over $2 trillion from about $587 billion in 2000.

Despite the youngest continent’s nations being driven by agriculture—which has also sustained major development, in terms of technology input, funding and research and development, still the continent’s manufacturing industry holds vital potential to stimulate the economy and offer decent livelihood to its vast young human capital, who number over 226 million and who are expected to increase by 42 per cent by 2030 according to the United Nations (UN).

According to Brookings—an American think tank, the future of the manufacturing …

Development Bank of Southern Africa (DBSA) gave $81.30 to Mozambique’s national energy utility, Electricidade De Mocambique (EDM) for the rehabilitation and upgrading of the energy supply network.

This financing support is in line with Mozambique’s 2030 plan to upgrade its power network for it to provide universal electricity access.

Electricidade De Mocambique has launched several projects focusing on strengthening the transmission grid and improving distribution capacity in the country.

Phase one is ready for implementation. It comprises of two out of twelve projects located at Pemba City and Maputo City at an estimated cost of $81.30 million.

Also Read: African Development Banks and ABSA sign Risk Participation Agreement

The DBSA loan facility will be advanced directly to EDM as a 15-year senior debt facility.

Banco Nacional de Investimento (BNI), Mozambique’s development bank served as the project’s evaluation partner and providing capital raising and advisory services.

Development Bank of Southern Africa …

The Southern African Development Community (SADC) envisions to create a region with an industrial complex driven economy, but also a excel in utilizing the telecommunication potential for a unique African development success story.

The SADC region which hosts more than 345 million people, took its 2019 high-end summit and meetings to Tanzania—one of the populous, fast-growing economy and trader, member state in the region.

Member states conversed on industrializing Africa on inclusive fast-growing sustainable grounds while, including intra-regional trade, but also ICT, information, transport, and meteorology.

In this context, the ICT, information, transport and meteorology member states meeting brought forth , rather essential aspects, that might stimulate the region’s economic strategies.

The meeting was hosted by the government of the United Republic of Tanzania and was attended by ministers (or their representatives) from Angola, Botswana, Eswatini, Lesotho, Malawi, Mauritius, Mozambique, Namibia, South Africa, United Republic of Tanzania, Zambia and Zimbabwe.…

Tanzania has opened up its borders for an alcoholic drink from Kenya which had been barred entry since March this year.

This is in the wake of the ongoing Public- Private Dialogue(PPD) with trade facilitation agencies at One-Stop Borders across the East Africa Community, aimed at adressing cross-border barriers.

READ:Kenyans lament trade discrepancies with Tanzania

The initaive is under a TradeMark East Africa(TMEA) and East African Business Council (EABC) programme which scrutinizes if EAC agreements and practices are easing doing business across borders.

The PPDs focus is on the extent to which partner states are translating the EAC Common Market and Customs Union Protocols into policies that support the actualization of free movement of goods and people.

The debut EABC Public-Private Dialogue with Trade Facilitation Agencies at Namanga One-Stop Border Post brought together officials from Ministries of EAC Affairs, immigration, bureaus of standards, plant and animal health, sanitary and …

The 39^th Southern African Development Community (SADC) summit, which was hosted in Dar es Salaam, Tanzania for two days saw the participation of 16- member states, delegates, and other invited guests.

The summit which took place on August 17^th and 18^th saw the Tanzanian President, Hon. John Pombe Joseph Magufuli assuming Chairmanship of SADC for one year till August 2020, indicating another signal of faith to the president and his regime in steering the bloc to the right socio-economic and political direction.

As one of the largest economies in Africa, prior to the summit Tanzania via its Ministry of Industry and Trade hosted the 4^th SADC Industrialization week, whereby more than 2000 people registered for the exhibitions.

Noted by a local media outlet, Deputy Minister of Industry and Trade Eng. Stella Manyanya said that almost 1,766 of the participants were Tanzanians and 938 were exhibitors. Participants …

Tanzania’s President John Magufuli has today launched the SADC industrialization week ahead of the upcoming Summit of SADC Heads of state.

This is the fourth SADC industrialization week and it is running under the theme; A Conducive Environment for Inclusive and Sustainable Industrial Development, Increased Intra-regional Trade and Job Creation.

The event isbeing held from the 5^th – 9^that the Julius Nyerere International Convention Centre (JNICC) in Dar es salaam. It highlights ongoing regional efforts to realize the SADC Industrialization Strategy and Roadmap 2015-2063.

Speaking at the launch, President Magufuli, who took office in 2015 on the industrialization ticket said Tanzania will continue to push the industrialization agenda as the key to national development especially through agricultural value chains which in turn opens up new employment opportunities for youth in the country.

Known as SADC Industrialization Week (SIW), the event has attracted over 3000 compnaies for the …

Southern Africa is home to about 209 million people, and its population has grown by about 2.4 per cent a year since 2010.…