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East African trade and investment news

Rwanda’s coffee export revenue rises on good global prices

Published on January 18, 2018

Good prices on the global market boosted Rwanda’s coffee export revenue during the first 11 months of the last year despite a drop in volumes, the National Agricultural Export Board (NAEB) report indicates.

According to the report, Rwanda’s total coffee export revenue rose to $59.8 million (Rwf51.4 billion) during the first 11 months of 2017, up from $53.8 million (almost Rwf46.3 billion) earned over same period in 2016, representing a growth in value of 11.1 per cent or $6 million. Read more. Source | New Times

Addis to host 7th Horti Flora Expo

Published on January 17, 2018

The 7th Horti Flora Expo is to kick off in Addis from 14th to16th of March 2018 at the millennium hall as a biennial trade fair. Briefing journalists, Ethiopian Horticulture Producers Exporters Association (EHPEA) Executive Director Tewoderos Zewdie said that Ethiopia's horticulture and flori-culture industry has developed over the last 15 years.

The country has endeavored towards a full grown player and put itself on the world map as one of the leading exporters of cut flowers, he said. Read more. Source | Ethiopian Herald

Online registration for companies begins next month

Published on January 17, 2018

Online registration of companies will begin next month after completion of preparation of an online registration system, the business registration and licensing agency (BRELA) has said.

The agency said in a public note yesterday that it had completed development of online registration system for companies and post-registration services which will enable electronic registration for companies. Read more. Source | Daily News

Uganda’s exports register Shs1.7 trillion increase

Published on January 17, 2018

As much as Uganda recorded a 14 per cent increase in the value of its exports in 2017 compared to the previous year, a lot needs to be done especially on the supply chain constraints.

Bank of Uganda (BoU) records as of November last year show that the country exported goods and services (both formal and informal) worth Shs11.5 trillion, up from Shs9.8 trillion registered the previous year. Read more. Source | Daily Monitor

Why Uganda should process raw materials into finished products

Published on January 17, 2018

Uganda is mainly an agricultural country, whose biggest population (80 per cent) live in rural areas and depend on subsistence agriculture. 

Consequently, many economic and policy experts have urged government to increase its annual budget allocation to for meaningful social economic transformation to take place from the current 7 per cent to 15 per cent of Gross Domestic Product as recommended by the Maputo Declaration of 2003. Read more. Source | Daily Monitor

Why a trade remedies agency could save Kenyan industries

Published on January 17, 2018

Trade remedies constitute most of the cases at the World Trade Organisation (WTO) Dispute Settlement body. These are defence instruments that allow governments to take remedial action against imports causing material injury to a domestic industry.

Such remedies are divided broadly into anti-dumping measures/actions; countervailing duty measures/actions; and safeguard measures/actions.

These remedies are triggered in response to different situations and circumstances which may be causing material injury to a domestic industry. Recourse to these tools is initiated by the domestic industry in compliance with the rules and procedures provided under the WTO Law on Trade Remedies (Anti –Dumping Agreement, Agreement on Subsidies and Countervailing Measures and Safeguards Agreement). Read more. Source | Business Daily

Ethiopia to register highest growth in the region

Published on January 17, 2018

Growth in sub-Saharan Africa is expected to accelerate to 3.2 per cent this year from 2.4 per cent in 2017. But the forecast for faster growth will depend on a firming up of commodity prices and reforms.

According to the latest Global Economic Prospects (GEP) report released by the World Bank last week, growth in the region is estimated to have rebounded to 2.4 per cent last year, after slowing sharply to 1.3 per cent in 2016. Read more. Source | East African

Tea exports rake in Rwf67bn during first 11 months of 2017

Published on January 17, 2018

Rwanda's tea export receipts increased to $78.1 million (about Rwf67.2 billion) during the first 11 months of 2017, up from nearly $57.4 million (Rwf49.4 billion) during same period in 2016, the National Agricultural Export Board (NAEB) report indicates. This indicates an increase of 36.16 per cent, which represents about $20.7 million growth in earnings, according to the report for November 2017.

The export body attributed the increase in export revenue to the high volume of tea sold during the period as well as a rise in global prices. Global tea prices averaged $3.21 per kilogramme during the reporting period compared to $2.56 per kilo in 2016. Read more. Source | New Times

Kenya Airways starts ticket sales for its non-stop daily flight to New York

Published on January 11, 2018

Kenya Airways today marks a great milestone with the launch of a non-stop flight from Nairobi to New York. The national carrier starts selling today tickets for the inaugural flight which is scheduled for October 28th this year. 

Kenya Airways becomes the first airline to offer a non-stop flight between East Africa and the United States of America.

The airline already serves Africa, Europe, Middle-East, Indian sub-continent and Asia. The opening of the US destination completes an essential piece for Kenya Airways’ network, cementing its position as one of the leading African carriers. Read more. Source | Markets Insider

Regional awards to fete businesses for EAC integration

Published on January 11, 2018

The East Africa Business Council (EABC) has launched an award scheme for firms that have excelled at integrating their operations in the six-nation East African Community (EAC) bloc.

The body, made up of business lobbies in the region, said the inaugural ‘EABC Business Excellence Awards’ will honour companies that have been successful in integrating their vision, operations and business ethics. Read more. Source | East African