According to The Global Innovation Index 2017 Innovation Feeding the World, Kenya, Rwanda, Senegal, Uganda, Mozambique, and Malawi stand out for being innovation achievers at least five times in the previous six years. All six East African partner states have a great capacity to create wealth for their citizens by harnessing science to attain industrial development, EAC boss has said. Read more. Source | The Exchange
East African Community has continued to realize significant growth and development even though there have been mixed results, EAC Chairperson of the Council of Ministers has said.
According to the Second Deputy Prime Minister, of Uganda, Dr Ali Kirunda Kivenjija, EAC region maintained its position as the fastest-growing sub-region in Africa, with estimated growth of 4.6 % in 2017, up from 4.4 % in 2016. Read more. Source | The Exchange
Regional integration ranks among the most beneficial policies pursued by Kenya and its neighbors. By creating one large market, pooling resources and influence, East Africa is able to punch way above the weight of individual members. A bigger market is better placed to create jobs and prosperity. It is also more attractive to external investment. Read more. Source | Daily Nation
The East African Community is working overdrive to enhance market access to regional and international markets through a comprehensive export promotion strategy. The EAC Director General, Customs and Trade, Mr. Kenneth Bagamuhunda, said the Community is implementing programmes aimed at promoting and strengthening intra- and inter-regional trade including the implementation of trade facilitation programmes particularly the removal of Non-tariff Barriers (NTBs) to trade. Read more. Source | Daily News
Foreign investors are weighing their options about investing in East Africa’s stock markets as the regional governments, faced with dwindling foreign direct investment flows, have started implementing programmes to attract foreign investors to certain sectors.
Stock exchanges are barometers of economic performance and data indicates that activity on the Kenyan and Uganda securities exchanges picked up during the first two months of 2018. Tanzania’s and Rwanda’s faltered, largely due to the nature of their political and economic environments. Read more. Source | East African
The East African Community (EAC) has made significant gains in reducing trade bottlenecks and boost doing business in the bloc, TMEA has said. According to TradeMark East Africa, Chief Executive Officer, Frank Matsaert the region has come a long way in improving the ease of doing business in the bloc. Read more. Source | The Exchange
Towards the Comprehensive Review of the EAC CET is a policy brief published by the Kenya Private Sector Alliance (KEPSA) and the East Africa Trade and Investment Hub.
The publication contains key recommendations that will lead to successful establishment of a Common Externat Tarriff (CET) on goods imported into the partner states from foreign countries in the East Africa Community (EAC).
Policy Brief on Enhancing Kenya's Services Sector is a publication by the Kenya Private Sector Alliance (KEPSA) and the East Africa Trade and Investment Hub.
The publication contains key recommendations on policies that require amendment in order to improve the services sector, which has and continues to play a crucial role in Kenya's economic development.
Ernst and Young (EY), the global leader in assurance, tax, transactions and advisory services, has urged regional governments to invest more in market integration to help absorb global economic shocks.
According to Allan Gichuhi, the Rwanda EY partner, ensuring more market integration while embracing innovative technologies will help the region become more economically resilient and thus attract more foreign direct investments.
Gichuhi said the global political, economic and investment landscape has entered an exceptional period of transition emanating from the UK vote to leave the European Union (EU), the election of Donald Trump as the US President and China’s entry into a new phase of slower economic growth among other factors. Read more. Source | New Times
The East African Community is working with agencies such as TradeMark East Africa to ease the movement of labour and capital and cross-border business.
The Community has initiated projects focused on creating market access, enhanced trade environment and competitiveness.
In 2016, 10 of the 13 one-stop border posts were completed and are operational under the integrated border management arrangement. These are the Holili-Taveta, Mirama Hills-Kagitumba, Kobero-Kabanga, Busia-Busia, and Mutukula-Mutukula posts. Read more. Source | East African