Today the U.S. Agency for International Development (USAID) East Africa Trade and Investment Hub (the Hub) signed a grant with Generation Program Kenya Limited, a local subsidiary of the McKinsey Social Initiative, to create 2,000 full-time jobs and provide over 100,000 hours in skills development for young people in the apparel industry.
Working hand-in-hand with Kenya’s Ministry of Industry, Trade and Cooperatives, the Kenya Association of Manufacturers and apparel companies, the pilot program will set up and equip seven training centers throughout Kenya and screen 4,000 youth for participation. The pilot activities include recruitment, training and job placement in the apparel industry.
By the end of the program, the 2,000 trained Kenyan youth will help address the skills gap that currently hinders growth in the apparel sector in Kenya. In addition, the goal of the pilot is to create a sustainable and replicable model for apparel sector skills development throughout East Africa. Read more. Source | Kass FM
A new model that interlinks and makes calculation of various economic sectors more accurate in the Gross National Product (GDP) and forecasting of economic growth and policy analysis has been launched by the ministry of Finance.
Over the years there are many developments that have taken place in Uganda’s economy that requires a more comprehensive model (tool or system) to match with the current developments in the economy which is more sophisticated.
The ministry of Finance says the new model is more comprehensive and is better than the one it has been using because it is holistic unlike the former which was partially in nature. Read more. Source | Daily Monitor
The requirement that one needs to have a passport in order to move outside the country is barring Tanzanian small-scale traders from accessing a wider market under the East African Community (EAC), The Citizen has learnt.
As a result, they are largely confined to Tanzania’s boundaries even as they are legally allowed to sell their products – under domestic terms – to Kenya, Uganda, Rwanda, Burundi and South Sudan under the EAC Common Market arrangement.
Speaking in Dar es Salaam yesterday, the chairman for an association that brings together operators of small businesses and petty traders – popularly known as Vibindo Society – Mr Gaston Kikuwi said as small-scale traders and business owners, they usually find it difficult to go through the bureaucracy of getting required passports. Read more. Source | The Citizen
Export of products with East African standards increased by 17 per cent indicating compliance with market requirements is fundamental for a successful market.
A study on “Impact Assessment of the East African Harmonised Standards on the Business Community’ recently released focused on six products out of the 20 most traded products identified by the East African Business Council (EABC) in terms of their cost, time and trade values.
The results indicate that the use of harmonised standards in the region to produce the selected sampled products improved competitiveness and market access. Read more. Source | Daily Monitor
It will now be easier and faster for the business community in the Common Market for Eastern and Southern Africa (COMESA) to report trade barriers within the tripartite regional economic bloc, thanks to a new short messaging service (SMS) system. According to experts, the innovation that was launched last week will help improve regional trade.
Souef Kamalidini, the director general for Customs at COMESA, said the SMS tool will supplement the current web-based online system for reporting, monitoring and elimination of non-tariff barriers (NTBs) used by COMESA, the East African Community (EAC) and the Southern African Development Community (SADC). A similar system is used by the Northern Corridor countries to report NTBs.
The tripartite online reporting system is a real-time mechanism for reporting, processing, monitoring and resolving NTBs. Read more. Source | New Times
The East African Community (EAC) Committee on Customs has agreed on full implementation of Single Customs Territory system (SCT) effective 31 July, this year, to enable faster clearance of goods and reduce the cost of doing business in the region.
Through this, the respective governments look forward to cutting time and resources used in collecting custom taxes at various borders. The agreement was reached in Dar es Salaam, yesterday, by respective Commissioner Generals of Revenue Authorities from Tanzania, Kenya, Uganda, Rwanda, Burundi and South Sudan.
“SCT commenced in 2014 as a pilot project and we believe that we had enough time to examine how it operates and now is the time to roll it out. This is the most important decision we have made after a week-long meeting,” said, Chairperson of the Committee, Dicksons Kateshumbwa. Read more. Source | Daily News
Intra-Africa trade took 40 per cent of the exports worth Sh234.1 billion indicating a need to ease movement of goods and services.
The Economic Survey 2017 shows the East African Community that brings together Kenya, Uganda, Tanzania, Rwanda and Burundi continued to provide Kenya with a ready market that accounted for 51.9 per cent of the intra-Africa trade.
The bloc, which is pursuing integration at economic and political levels, has also provided a ready market for Kenyan investments in manufacturing, banking and provision of professional services. Read more. Source | Business Daily
The East African Community (EAC) Common Market Update is a presentation by the East Africa Trade and Investment Hub and the Tanzania Private Sector Foundation.
The report highlights key areas of policy reform that Tanzania is exploring towards easier movement of goods, services and capital in the East African region. These reforms will spur inter-regional trade, which will in-turn lead to regional integration of the five EAC Partner States.
This presentation is a useful resource in tracking Tanzania's progress in implementing the EAC Common Market Protocol.
After Rwanda, Kenya and Uganda commissioned the Regional Electronic Cargo Tracking System (RECTS), Tanzania is also being engaged to join the system so as to further boost trade along the Kigali-Dar es Salaam route, officials confirm.
In Rwanda, establishment of the e-Cargo tracking system meant to reduce the cost of doing business by reducing transit time, enhancing cargo safety and helping traders better predict arrival of goods, was funded by the UK Department for International Development (DFID) through Trademark East Africa (TMEA) at a cost of $4.5 million (nearly Rwf3.7 billion). Read more. Source | New Times
The World Bank has hailed the East African Community for the steady progress it has made towards the creation of the Common Market.
Mr. Ahmadou Moustapha Ndiaye, the World Bank’s Coordinating Director on EAC integration noted in particular the operationalization of the Single Customs Territory by the EAC Partner States, adding that the region had experienced increased intra-regional trade.
Mr. Ndiaye further praised the EAC Secretariat for the efforts it is undertaking to monitor the implementation of the Common Market Protocol with the aim of lifting all the remaining barriers to free movement of people, labour, goods, services and capital. Read more. Source | East African Community