Browsing: World Trade Organisation (WTO)

• Shipping agents are not allowing cargo to Kenya as they avoid having goods getting stuck at points of entry, says a mobile importer in Nairobi.
• Kenya Revenue Authority is increasingly tightening checks at ports of entry to eliminate under declaration and concealment, which deny the country taxes.
• On average device shipment went down by about 13.5 per cent in the fourth quarter of 2022.

Kenya is hurtling into a severe shortage of smartphones as new tax measures and import regulations pile pressure on traders who have cut on shipments. Traders are projecting that the shortage of smartphones could push up the price of the gadgets by about 40 per cent.

The move follows a decision by the Kenya Revenue Authority (KRA) to plug loopholes used by traders to under declare or conceal the value of gadgets in turn denying the government revenues.

Alice, an importer and dealer within Nairobi’s Central …

AfCFTA facilitates better access to trade across the continent for all Commonwealth citizens in member states; being one of world’s largest trading blocs. During her visit to Kenya in 2018, SG Scotland noted that, “AfCFTA gives the perfect platform to facilitate trade across the Commonwealth. Nineteen members of the AU are part of the Commonwealth family, the protocol is groundbreaking news because research shows, that when Commonwealth countries trade with each other, its 19 per cent cheaper and this is the Commonwealth Advantage.”

The combined GDP of Commonwealth countries, with a total population of over 2.4B, is now around $13 trillion and is estimated to reach $19.5 trillion in 2027. “With intra-Commonwealth trade expected to surpass $700 billion in 2022, and Commonwealth countries comprising a number of free trade zones including the Africa Continental Free Trade Area (AfCFTA), the Commonwealth Business Forum, provided a valuable opportunity to capitalize on global …

Africa’s total merchandise trade in 2018 had a value of over USD997.9 billion and the continent remained one of the fastest growing regions in the world during that time.…