Kenya to host Pan-African Payment and Settlement System (PAPSS) headquarters
Kenya has accepted to host the headquarters of the Pan-African Payment and Settlement System (PAPSS), which is expected to enable traders on the continent to settle deals in their respective national currencies. According to President William Ruto, during the African Continental Free Trade Area Conference at Strathmore University on November 7th 2023, Kenya as a […]
Abidjan-Lagos Corridor Secures $15.5 Billion Investment Interest: Africa’s Economic Potential Highlighted
The Abidjan-Lagos highway corridor, a crucial infrastructure project in West Africa, has secured a substantial $15.5 billion in investment interest, as revealed by Dr. Akinwumi Adesina, President of the African Development Bank, at the 2023 Africa Investment Forum (AIF) Market Days in Marrakech, Morocco. This corridor is anticipated to boost regional integration, sustainable economic development, […]
High costs of air travel in Africa stifle tourism
The high cost of air travel in Africa has been described as a barrier to tourism. Travellers within the continent not only pay higher ticket prices but also more tax to board a commercial aircraft. This emerged at the just-ended World Travel and Tourism Council (WTTC) global summit in Kigali, Rwanda. Speakers at the high-profile […]
Uganda, East Africa traders hopeful as global shocks ease
Uganda’s economic indicators spell better conditions for the private sector and business compared to other countries in the region, according to an expert study, the Africa Trade Barometer (ATB). Uganda’s overall macroeconomic conditions are “average with a slight positive outlook relative to the other countries in the Stanbic Bank Africa Trade Barometer.” “As such, Uganda’s […]
ACFTA: Leveraging continental integration for food security objectives
Africa is the most food insecure continent in the world despite its huge agricultural potential. In 2021, about a fifth of the continent’s population faced hunger. Furthermore, AU’s Comprehensive African Agriculture Development Programme (CAADP) Biennial Review report (2019-2021) reveals that the continent is not on track to meet its goal of ending hunger by 2025. […]
Mathuki: Somalia could join EAC this month
East African Community (EAC) Secretary-General Peter Mathuki says Somalia could be admitted to the bloc this month. An Ordinary Heads of State Summit is scheduled for November 23-24 in Arusha, and the region’s presidents are expected to endorse Somalia’s accession. Dr Mathuki told a panel at the Africa Investment Forum in Marrakech, Morocco, on November […]
East African Community to launch regional bond for goods
The East African Community (EAC) is set to launch a regional bond to enhance trade facilitation in the region and provide a cheaper and more efficient solution for the business community. This was revealed during a meeting between the EAC Secretariat and stakeholders to discuss the procedures and benefits of the regional bond in comparison to […]
Finland reiterates its commitment for enhanced partnership in trade facilitation initiatives
Finland’s Development Policy Committee visited the Port of Mombasa on 1 November 2023, where they were hosted by the Kenya Ports Authority‘s Managing Director Captain William Ruto to witness our joint trade facilitation projects. The delegation, including Finnish MPs, civil society actors and government representatives, led by Finland Deputy Head of Mission to Kenya and TMA’s […]
Launch of Port Projects in Kenya’s Lake Region to Catalyse East Africa’s Regional Trade and Integration
The Government of Kenya’s commitment to fast-track the construction of the Homa Bay Pier and other trade facilitation initiatives along the shores of Lake Victoria is expected to spur regional trade by reducing the time and costs of doing business. During his recent 4-day visit to the Nyanza region, Kenya’s President, William Ruto, launched several […]
Navigating a Sea Change: Kenya’s Horticultural Exports Forge Ahead
In an ambitious stride towards revolutionising the logistics landscape of Kenya’s horticultural exports, TradeMark Africa, in collaboration with the Kenya Flower Council, recently hosted the second Logistics Working Group meeting on September 14, 2023, in Nairobi. This marked a pivotal moment in the pursuit of transitioning from air to sea freight, a core objective within the European […]