Rwanda continues to look for new export markets besides encouraging local consumption under the Made-in-Rwanda campaign initiated by the Ministry of Trade, Industry and East African Community Affairs and the Private Sector Federation (PSF).
These are some of the initiatives that seek to widen the country’s exports, support local manufacturers and help reduce the growing import bill, as well as give the Made-in-Rwanda products a competitive edge in the local, regional and global markets. This, however, challenges the private sector, particularly manufacturers to understand market trends and improve their production capacity and quality supported by the good investment and business environment in the country.
Manufacturers should have knowledge about the trading systems in target markets to promote their products effectively and also be able to negotiate better prices. Read more. Source | New Times
The U.S. Agency for International Development (USAID) East Africa Trade and Investment Hub (the Hub) has 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. Read more. Source | Capital FM
Ethiopia's relation with North American and European countries that has been largely characterized by assistance has transformed to business and development over the past few years, Ethiopian Investment Commission said.
Out of the total 25 billion Birr FDI came from Asian, European and North American countries between mid 2012 and mid 2017, the share of North American and European countries was close to 10 billion Birr, about 40 per cent of the total investment, according to data.
Over the past 10 years Chinese and Indian investment had the lion's share in Ethiopia. Now the situation is changed and flow of North American and European investment has become nearly equivalent to those came from Asia, Mekonnen Hailu, Public Relation Director with the Investment Commission told The Ethiopian Herald. Read more. Source | Ethiopian Herald
About 2,000 Kenyan youth are set to be trained and be employed in the textile industry following the signing of a grant between the US government and a Kenyan firm.
In the deal signed on Friday between the USAid East Africa Trade and Investment Hub (the Hub) and Generation Program Kenya Limited, a local subsidiary of the McKinsey Social Initiative, the programme seeks to recruit, train and employ 2,000 Kenyan youth in the apparel industry.
In a press release sent to newsrooms, USAid Kenya and East Africa Acting Mission Director Tina Dooley-Jones said through the initiative to be piloted in collaboration with Ministry of Industry, the Kenya Association of Manufacturers and apparel companies, seven fully equipped training centres will be put up in the country. Read more. Source | Business Daily
"We must change the lenses with which we look at Africa from the traditional development mindset to an investment mindset," Akinwumi Adesina, president of the African Development Bank (AfDB), told last week's U.S.-Africa Business Summit.
"American companies come to Africa bringing their notebooks, while the Chinese companies come to the continent with their checkbooks," Adesina said in his keynote address in which he urged a reversal in the sharp drop in Africa's exports to the United States since 2014 and encouraged American firms "to take a closer look at the opportunities Africa has to offer."
Some 800 private-sector and government participants from Africa and the United States took part in the three-day gathering, a biennial event that CCA has hosted in various locations in the United States and Africa since 1997. Read more. Source | All Africa
Kenya Airways has moved a step closer to operating direct flights to the United States after the Department of Transportation (DOT) granted it the first set of licences.
The national carrier has received “exemption authority” from the DOT, allowing it to commence flights to the US provided it secures clearance from the Federal Aviation Administration (FAA) and other applicable State agencies.
The DOT has also tentatively granted Kenya Airways a Foreign Air Carrier Permit (FACP), which is again subject to clearance from several US security, aviation and border agencies. Read more. Source | Business Daily
The ailing textile sector has been handed a lifeline, with the proposed increase in the amount of goods that manufacturers based in the special economic zones can sell locally.
President Uhuru Kenyatta said that the apparel manufacturers operating from the export processing zones (EPZs) will now be allowed to sell up to 40 per cent of their goods locally, a significant improvement over their current local market quota.
“We want to increase the current quota of 20 per cent that is allowed for the local market up to 40 per cent so that the local apparel manufacturers can employ more Kenyans,” Mr Kenyatta said. Read more. Source | Business Daily
American roasters are expected to raise coffee purchases from Kenya by a quarter to Sh3.5 billion annually after the country showcased its produce in the ongoing symposium in Seattle, US.
Coffee Directorate made a pitch for Kenya’s specialty coffee during the exhibition to have the US, which pays a premium price for the commodity, increase its uptake 25 per cent. America buys seven per cent of Kenya’s annual export of 46,000 metric tonnes but it pays highly compared to the other top buyers. Read more. Source | Business Daily
AGOA 101 Uganda is an export guide published by the East Africa Trade and Investment Hub (the Hub). The guide seeks to ease the challenges faced by Ugandan entrepreneurs by highlighting the step-by-step process businesses should take to export from Uganda to the U.S duty-free under the African Growth and Opportunity Act (AGOA).
It covers the export process for Hub-focused sectors under AGOA including: Fashion Accessories and Home Décor, Textile and Apparel, Footwear, and Specialty Foods and products.
The guide will assist Ugandan businesses to take advantage of AGOA, thereby increasing export levels, and give U.S buyers a wider range of products from the region.
There is a shared sense that international trade has great potential to contribute to growth and poverty reduction. There are several examples of countries in which integration into the world economy was followed by strong growth and a reduction of poverty, but evidence also indicates that trade opening does not automatically bring growth.
The question therefore arises why the effects of international trade have been so different among countries. If the developed world is dependent on the developing world for raw materials for manufacturing, how is it that the developing world is still poor and cannot compete in international markets? Read more. Source | Business Day