Crucial mining sector and infrastructural projects in the Democratic Republic of the Congo will receive an initial investment of €50 million euros from the European Union  This is in line with EU’s Essential Raw Minerals Act, which aims to secure crucial raw resources like lithium, cobalt, manganese, and rare earths required for electric vehicles and wind turbines DRC’s economy is growing, with 6.1% GDP growth expected in 2022 and 6.7% expected this year, according to the most recent IMF data The crucial mining sector and infrastructural projects in the Democratic Republic of the Congo will receive an initial investment of €50 million euros from the European Union. The investment was revealed at the inaugural Kinshasa Economic Forum, which included representatives from France, the EU, and the DRC. French President Emmanuel Macron was in attendance together with the European Commissioners for the Internal Market and International Partnerships, Thierry Breton and Jutta Urpilainen, as well as more than 50 CEOs of French companies. A component of the EU’s Global Gateway programme, which seeks to offset China’s Belt and Road Initiative, is investment in geological mapping, urban infrastructure, and digital education initiatives in the Democratic Republic of the Congo. EU’s Global Gateway programme, which has a budget of US$300 billion, mostly goes towards vital infrastructure projects in African nations as well as investments in the energy and manufacturing industries. EU considers DRC’s potential for crucial minerals Despite having an estimated €22.6 trillion worth of raw materials reserves, including almost half of the world’s...

Dar es Salaam, Tanzania | Xinhua | The East African Business Council (EABC) has applauded Tanzanian President Samia Suluhu Hassan for allocating three hectares of land for building its headquarters in the East African nation’s northern city of Arusha, the EABC said in a statement late Friday. Hassan on Friday handed over to EABC CEO John Kalisa a title deed for a plot of land covering three hectares situated at Mateves in Arusha free of charge. “The plot of land will enable East African Business Council to build its headquarters in Arusha, which is also the headquarters of the East African Community (EAC),” said the statement. The building of the EABC headquarters will go a long way in enabling the EABC to execute its mandate as the voice of the private sector in East Africa and driving the vision of a borderless East Africa for business and investment, said the statement. According to the statement, the EABC’s mission is to advocate for a conducive business environment and promote sustainable private sector-driven growth in the EAC region. The statement said the EABC was deeply committed to partnering with the government of Tanzania in boosting intra-EAC trade, industrialization, investments, and job creation. Read original article

Trade has never been more important for U.S. agriculture, and 2022 was a very good year in that department. Brian Kuehl, the executive director of Farmers for Free Trade, says the 2022 results were a “double-edged sword” because of higher retail value and lower overall volume. The question is, what’s ahead in 2023? The American agricultural sector posted its best export year ever in 2022. International sales of America’s farm and food products reached $196 billion. Final trade data from the Commerce Department shows that U.S. agricultural exports increased 11%, or $19.5 billion, from the previous record set in 2021. “Inflation has driven up commodity prices, and much of that has been driven by the war in Ukraine,” Kuehl said. “Supply chains coming out of COVID have also made things very challenging.” He said the good news is America is exporting more by value and, in some sectors, more by volume too. Farmers can sell their products for higher prices, but the challenge is input costs have gone up so much in recent years. “Even with the good trade numbers from last year, farmers are still having a hard time making a go of it,” he said. While 2022 was a record value year, USDA predicts 2023 may look different as American food and ag will be operating at a trade deficit through the rest of this year. “It’s not a huge trade deficit,” Kuehl said. “But I think any trade deficit should be troubling,” he said. Until 2019, the...

What you need to know: KRA has put in a request for the parcel to Turkana County which is the custodian of community land in the region The need to establish the new post was informed by a countrywide survey that identified new potential border crossing points Uncontrolled entry and exit of people along the border was contributing to loss of revenue and influx of counterfeits, a problem that the new border point will stem The Kenya Revenue Authority (KRA) is seeking 50 acres of land from the Turkana County Government to put up a new One-Stop Border Post between the country and Ethiopia in a bid to stem revenue losses and smuggling of counterfeits. Through the Border Control and Operation Coordination Committee (BCOCC), the taxman has put in a request for the parcel to Turkana County which is the custodian of community land in the region. The planned entry and exit point will be at Todonyang in Turkana North Constituency, and is expected to enhance cross-border movement within East Africa Community member states as well as improving the flow of trade. It is also expected to open up Northern Kenya and stem smuggling of goods through the porous border. Border Management Secretariat Director Kennedy Nyaiyo said the need to establish the new post was informed by a countrywide survey that identified new potential border crossing points. "Todonyang was among the five points that were identified and approved by the National Advisory Security Committee for establishment of a customs border station....

No less than 716 out of 796 (88.9%) of NTBs registered in the online reporting system implemented by the three regional economic communities (RECs), COMESA, East African Community and the Southern Africa Development Community have been resolved, leaving only 80 NTBs left unresolved. The main NTBs include restrictive licensing, permitting, and other requirements applied at the border. Barriers behind the border, such as unwarranted technical barriers to trade and sanitary and phytosanitary measures are equally prevalent. For the Economic Community of West African States (ECOWAS) region, the challenge has been various NTBs in the form of infrastructure, language, movement of people and goods among others. African Union Commission Deputy Chairperson Dr. Monique Nsanzabaganwa, in a recent report on visa openness, noted that human mobility is key to Africa’s integration efforts, as such, any limitation discourages innovation and stymies the formation of regional value chains. “It is not enough to agree on rules of origin that promote ‘Made in Africa’ products. For the AfCFTA to succeed, non-tariff barriers to trade must be dismantled, too. “Among other things, Africans must be free to move around the continent without being denied the right to board on planes, applying for costly and time-consuming visas, which are not readily available electronically, to study, trade, and develop their businesses,” Nsanzabaganwa said. Also, the African Development Bank Group Acting Vice President in charge of Regional Development, Integration, and Business Delivery, Marie-Laure Akin-Olugbade, remarked that the free movement of people creates business and stimulates intra- and interregional trade....

Businesses within East Africa have urged governments in the region to address key challenges cross-border traders face, which they say will impede exports to the new African Continental Free Trade Area (AfCFTA). The businesses observed that while the AfCFTA relies on working regional economic blocs such as the East African Community (EAC) market for proper implementation, traders still face hurdles within the regional bloc. Drawn from different East African countries under the East African Business Council (EABC), business leaders observed that the region has a huge advantage to reap from the AfCFTA, having three out of the eight countries participating in the guided trade initiative- a pilot programme to test the viability of AfCFTA. “We need that deliberate government commitment, the manufacturers, the traders are committed, but we need that to be complemented and supported by governments in terms of promoting supporting and nurturing industries,” said EABC CEO John Kalisa. The businesses complain about non-tariff barriers, including border controls that frustrate trade, which a World Bank report also indicated are likely to be the biggest barrier to free trade in Africa. The Kenya Private Sector Alliance said there are efforts to review policies that currently hinder Kenyan traders from accessing the new market, due to impediments the country had placed on businesses outside its trading blocs. “We have a lot of national policies and domestic laws which we need to scan and ensure that they are aligned with our commitments at the region,” said Kepsa deputy chief executive Victor Ogalo....

Efforts to promote and grow trade in Africa under the African Continental Free Trade Area (AfCFTA) have received a boost following a pact for trade facilitation and financing. The deal between trade aid firm, TradeMark Africa, Tony Blair Institute and Trade Catalyst Africa seeks to fast track the implementation of the trade initiative launched in 2021, with eight countries participating in the initiative so far. The agreement will also seek to deploy its expertise in trade facilitation projects, policy advice to governments, digitisation of trade processes, industrialisation, trade infrastructure, green logistics and innovative finance to help resolve trade bottlenecks between African nations. Commenting on the partnership, TradeMark Africa CEO, David Beer welcomed the partnership noting the strategy will create the right synergies in driving economic growth. “At TMA, we are proud of the trade facilitation that we have undertaken across the East, Horn and Southern Africa over the last decade. This has made significant contributions to reducing the time and cost of trade, as well as expanding exports,” Beer said. He added that they would further build on the partnership to help realise the aspirations of AfCFTA member states, in creating a truly seamless trading environment in Africa. TBI managing director Rishon Chimboza hailed the pact saying it will help unleash Africa's trade potential that could lift about 30 million people across the continent out of extreme poverty by 2035. According to the World Bank, if AfCFTA were fully rolled out, it would create a single, continent-wide market that unites 54...

What you need to know: The two countries, however, see the opening of the border post as one of the measures to end cattle rustling, or stock theft, an age-old tradition that has been commercialised by international criminal networks in East Africa and the Horn. Kenya and Uganda have initiated talks for the opening of a one-stop border post in Lokiriama in northwest Kenya, that will seek to open up trade and fight livestock raids. Kenya's Interior Principal Secretary Raymond Omollo said the border post would enhance movement and trade between the two nations and investments in the cross-border road network and improved security and surveillance. The two countries revived their September 2019 memorandum of understanding that sought to enhance cross-border trade between the Turkana and Karamoja, by establishing immigration and customs border points at Lokiriama, Nawountos and Nakitong’o. “The two governments should mobilise resources for peace dividend projects and to facilitate peace-building initiatives in the region for sustainable peace and security,” the joint statement concluded. The border region is mainly occupied by the Turkana and Pokot ethnic communities in northwestern Kenya, and the Karamajong, an ethnic group of agro-pastoral herders living in the northeast of Uganda. Years of banditry These communities have over the years engaged in banditry, making the region unsafe.  The two countries, however, see the opening of the border post as one of the measures to end cattle rustling, or stock theft, an age-old tradition that has been commercialised by international criminal networks in East Africa...

  Trade Mark East Africa in partnership with the County Government of Busia has taken the initiative to educate women on the importance of climate change, environment, social safeguards and trade. The Chief Officer Trade, Industry, Investment and Cooperatives, Mr. Kennedy Mbaja asked women in business to invest in cereal crops that produce edible oil. “As a county, we are about to have our own industrial park and what can we do that is unique from others? Let us form groups and register with cooperatives and plant simsim, groundnuts, avocado, sunflower and soya beans which will help us get oil and its by-products,” he said. He said that Busia County has favorable climate and soil for production of groundnuts, cashew nuts, simsim, soya beans and sunflowers that are rich in production of oil. “We urge farmers to try oil palm, sesame, sunflower, groundnuts and soya beans on a large scale to supplement the sugarcane they have been growing for many years now,” noted Mbaja. Project Manager PROCESS Limited Mr. Patrick Ino said the overall objective of the workshop is to help women in trade to increase income and their capacity to participate in trade and also improve their resilience towards climate change. “Today we want to empower women to overcome the challenges that come with climate change, adaptation and mitigation of environmental issues in line with World Bank environment and social safeguard standards,” he revealed. Women trading in various commodities including fish, fruits, and general hotel foodstuff have been introduced...

In Summary President Ruto said Nairobi is a strong participant in the Tripartite Trade Agreement encompassing EAC, Comesa and SADC. This, he said, will offer the 28-countries bloc the advantage of 750 million people and an economy of $1.8 trillion. The EAC-Comesa-SADC tripartite agreement will be in place by the end of April 2023, President William Ruto has said. This means 28 African countries will trade as a bloc with the European Union. Pitching Kenya as the preferred investment hub for EU investors on Tuesday, President Ruto said Nairobi is a strong participant in the Tripartite Trade Agreement encompassing EAC, Comesa and SADC. “The tripartite agreement was signed in 2015 and unfortunately for the seven years or so, we have not concluded it to the satisfaction of the EU requirements,” the President said in Nairobi during the EU-Kenya Business Forum. To address this challenge, Ruto said he sent Trade CS Moses Kuria as his special envoy to 11 capitals to meet with the respective presidents. “He [Moses Kuria] has been to Egypt, Angola, Comoros [new AU chair], Uganda, Tanzania, Lesotho South Africa …, and now I can promise with confidence, by the end of April, we will have the tripartite agreement in place,” Ruto said. This, he said, will offer the 28-countries bloc the advantage of 750 million people and an economy of $1.8 trillion. “This is a great opportunity that as the EU looks at Kenya, you are also looking at the tripartite agreement and a huge population and economy...