Intra-African trade, at the behest of African Continental Free Trade Area (AfCFTA), will make every state in Nigeria economically viable and resilient, Michael Faniran, Strategy, Planning and Coordination Lead, National Action Committee on AfCFTA has said. Faniran, who was speaking at the AfCFTA/POFON Oil Palm Stakeholders Meeting which held recently in Benin via Zoom said AfCFTA would capture 10% of Africa’s imports from the world to double Nigeria’s export revenue by 2035. Faniran listed a number of strategic goals of the institution as including growing export capacity of every state to $1.2 billion, focusing on specific products/service chains, growing high productivity workforce to earn premium wages in Nigeria and Africa, engendering friendly business environment to attract investment and boost competitiveness and growing local demands to boost local content, capacity and utilization, preserving local market share and laying foundation for experts. Read original article

Six British nationals based in Kenya are among 1,134 recipients of Queen Elizabeth’s birthday honours for their contributions to public life, including TradeMark Africa chief executive Frank Matsaert. The awards were given ahead of the Queen’s platinum jubilee celebrations as she marks 70 years on the throne in a four-day fete in the UK, which began on Thursday. The honours went to UK nationals worldwide for their contribution to “sustained public service, the environment and sustainability, and youth engagement.” Mr Matsaert is the founding CEO of the trade aid agency that has been helping in the integration of the East African Community (EAC) by supporting cross-border trade since 2010. The Nairobi-based TradeMark Africa has been involved in the development of one-stop border posts in EAC, the Mombasa port, and the upgrade of customs systems for revenue authorities in Kenya, Uganda, Burundi, and Rwanda. “I am deeply honoured by the Queen and UK Government for this recognition of TradeMark Africa’s work in supporting trade and economic development in Eastern Africa over the last twelve years. It has been a privilege and an honour to found and lead such a dynamic and impactful organisation,” said Mr Matsaert. Mr Matsaert was awarded the Member of the Order of the British Empire (MBE) for his “services to trade and economic development in East Africa.” Reverend Clive Beckenham and his wife Mary, founders of Nairobi-based children’s New Life Home Trust, got an MBE for “services to abandoned and vulnerable children with HIV in Kenya.” The...

UNITED NATIONS, May 26 (IPS) - Ambassador Maria de Jesus dos Reis Ferreira was appointed in February 2018 as the Permanent Representative of Angola to the UN, the first woman to hold the position. Among other issues, she has focused on peace and security in Africa and has echoed her country’s strong support for universal vaccination of the global population. In this interview with Africa Renewal’s Kingsley Ighobor, Ambassador Ferreira discusses women’s empowerment, free trade and what the continent can expect from the UN conference on climate (COP 27) that will be held in Egypt later this year. Excerpts from the interview: Q: What has been your journey to this role as the Permanent Representative of Angola to the UN? My journey has been a long one, I can take hours talking about it. I started in the army and years later I shifted to diplomacy, which has been quite an interesting and challenging journey. I have worked as a diplomat since 1980. Before my current role, I worked as an Ambassador in Austria, Slovenia, Croatia and Slovakia with residence in Vienna, where I was the Permanent Representative to the United Nations. I am the first woman to serve in this post since Angola became a UN Member State 46 years ago. Q: Congratulations! What are your top three achievements so far? Talking about achievements, with regards to peace and security, it is important to note that as part of Angola´s leadership of the International Conference on the Great Lakes Region (ICGLR)...

Small and medium-scale farmers and agri-businesses in east and southern Africa are getting a raw deal. To succeed they need fair and integrated regional markets. Research by the Centre for Competition, Regulation and Economic Development has highlighted the need for better integration of regional economies as a step towards food security in the region. Powerful commercial interests, high transport costs and poor access to facilities such as for storage mean that small and medium-scale farmers are often not getting fair prices for the food they grow. Fair prices are those that meet demand and cover reasonable costs of supply including transport across borders. During the course of our research we came across examples of how the odds are stacked against most small and medium-scale farmers. Take the experience of Endrina Maxwell, a small producer in Malawi. In April 2021, she sold her soybean crop in central Malawi and realised the returns from investing in commercial agriculture as a female agribusiness owner and farmer. She got prices around Malawi kwacha 350/kg, about $450/t (see Figure 1). At the same time, the prices in the main markets in Dar es Salaam and Nairobi were over a $1000/t. A number of hurdles stood in Endrina’s way to take advantage of the high prices in neighbouring countries. First, specific price information was not readily available for someone in Endrina’s position to be aware of the gains from exporting. Second, transport costs are very high for smaller producers. Third, to hold-off from selling at the...

The Tanzania Foreign Exchange Regulations, Government Notice No. 294 published on 13/5/2022 (the “Tanzania Foreign Exchange Regulations”) are creating quite some noise in Tanzania amongst traders and investors. Given the efforts that the government of Tanzania has been undertaking to lure foreign investors to Tanzania (#RoyalTour) and reassure them of a conducive and easy business environment, the regulations come as a surprise since they seem to somehow contradict some of these efforts. Tanzania, being a member of the International Monetary Fund (IMF), has the obligation under Article VIII of the International Monetary Fund Articles of Agreement to enable currency convertibility for current transactions—goods, services, travel, interest, and dividend payment and this is a condition of its membership of good standing. The Articles of Agreement remain silent with regards to obligations of Member States and capital accounts. While the Tanzania Foreign Exchange Regulations do not prohibit current account transactions, the government has added Non-Tariff Barriers (“NTB”) making it more bureaucratic and therefore dissuasive to engage in certain types of transactions. I am going to focus on three areas: investment, trade and regional integration and the implications on these areas that the Tanzania Foreign Exchange Regulations have. Foreign Direct Investment Foreign Direct Investment is expressly referred to in Regulation 24 (2) which prohibits Equity to Debt Swaps. Equity/Debt swaps are a type of financing whereby specified class shareholders are given the right to convert their stock for a pre-determined amount of debt in the same company. The conversion is usually into corporate bonds. While an investor gets the...

...Afreximbank to grow fund to $3bn One year after the take-off of the African Continental Free Trade Agreement (AfCFTA), no fewer than 28 banks in Africa One year after the take-off of the African Continental Free Trade Agreement (AfCFTA), no fewer than 28 banks in Africa joined the Pan-African Payment and Settlement System (PAPSS), which took off with a $500m facility with an additional 24 banks on the… ...Afreximbank to grow fund to $3bn One year after the take-off of the African Continental Free Trade Agreement (AfCFTA), no fewer than 28 banks in Africa Thu, 09 Jun 2022 04:25:30 GMT…Afreximbank to grow fund to $3bnOne year after the take-off of the African Continental Free Trade Agreement (AfCFTA), no fewer than 28 banks in Africa joined the Pan-African Payment and Settlement System (PAPSS), which took off with a $500m facility with an additional 24 banks on the waiting list. PAPSS is a creation of the African Export-Import Bank (Afreximbank) to facilitate intra-African trades through the settlement of transactions in local currencies in the light of the AfCFTA take-off.Daily Trust reports that there are over 40 different currencies in the African continent and over time many traders within the continent would be demanding for payment in foreign currencies, especially dollars. By Thu, 09 Jun 2022 04:25:30 GMT …Afreximbank to grow fund to $3bn One year after the take-off of the African Continental Free Trade Agreement (AfCFTA), no fewer than 28 banks in Africa joined the Pan-African Payment and Settlement System (PAPSS), which...

TANZANIA is currently undergoing a significant food systems transformation. To ensure all the changes occurring, the livelihood for smallholder farmers continues to improve; accessibility of improved seeds is one of the essential factors. Seeds are the key to improving agricultural productivity-food security, and poverty reduction. Tanzania has come a long way in formulating policy and reforms for the greater good in the seed sub-sector. Since independence, the goal of all the initiatives has been to ensure the availability of quality seeds. The food sufficiency the nation has enjoyed for over a decade could not have been possible without reliable access to quality and affordable seeds. In the last decade and a half, Tanzania has introduced various policy and legal reforms in the seed sub-sector to ensure the availability of improved seeds to farmers at affordable prices. There have been remarkable achievements. However, some challenges remain. Alliance for a Green Revolution in Africa (AGRA) has been a dependable partner working with the government, the private sector, and non-state actors to make Tanzania's seed sub-sector self-sustainable for the good of smallholder farmers, who are the majority in our nation. Working with government-owned research institutions such as Tanzania Agricultural Research Institute (TARI) and Sokoine University of Agriculture (SUA), AGRA has played a crucial role in developing home-grown breeder seeds (over 30varieties), pivotal in sustainable food security. The Southern Agricultural Growth Corridor of Tanzania (SAGCOT) and partners have been privileged for years to partner with AGRA in the quest to contribute towards inclusive agriculture...

Summary Making collective agricultural transformation work is not an easy task and requires concerted efforts from diverse actors in the sector. Dar es Salaam. Sustainable food system transformation should go hand in hand with increased incomes for smallholder farmers in the rural areas, which translates into an improved livelihood. Rucodia has been working with Alliance for a Green Revolution in Africa (Agra) to catalyze food system transformation, which is essential for inclusive national development. Making collective agricultural transformation work is not an easy task and requires concerted efforts from diverse actors in the sector. Agra 2017-21 strategy for Tanzania implementation has been very supportive in enabling Rucodia to provide life-changing business development services to small farmers on the input distribution channel. Establishing workable input distribution networks has been a key in technology adoption for sustainable and improved food production. In implementing the Tanzanian PiATA-TIJA initiative, a part of a Pan-African Partnership for Inclusive Agricultural Transformation in Africa (PIATA), Rucodia was one of the five members of a consortium supported by Agra in Western regions. We recruited 803 agro-dealers in Kigoma and managed to reach 172,661 farmers along with different components of extension, access to market, access to finance, and distribution of agricultural technologies in around 300 villages. Similarly, in the Kagera region, the initiative supported and capacitated 596 agro-dealers to manage agro-inputs who managed to supply services to 257,921 farmers in 420 villages. Business development services are about imparting knowledge that becomes a power for the partakers. After we made...

Nairobi, June 2nd 2022: Her Royal Highness the Queen of England has today conferred TradeMark Africa (TMA) Chief Executive Officer, Frank Matsaert the Order of the British Empire (MBE) his trail blazing work in Trade and Economic Development in East Africa. On receiving the news, Frank noted that the award represents the collective work that has been accomplished by working closely with TMA key stakeholders. “I am deeply honoured by the Queen and UK Government for this recognition of TradeMark Africa’s work in supporting trade and economic development in Eastern Africa over the last twelve years. It has been a privilege and an honour to found and lead such a dynamic and impactful organisation.”  As the founding CEO of TMA, Mr. Matsaert, has steered the organisation to grow from a modest budget of US$ 42 million in 2010 to approximately US$1.2Billion by April this year.  The organisation has experienced robust growth over the decade to become the leading Aid for Trade agency globally, with remarkable results in reducing the time and costs of trading across EAC; through investments at the Port of Mombasa, 15 completed One Stop Border Posts across the EAC region, Customs systems at Uganda Revenue Authority, Kenya Revenue Authority, Burundi Revenue Authority and Rwanda Revenue Authority. Mr. Matsaert’ s vision has led TMA to partner with governments across the region to lay the building blocks for a digital trade and transport corridor. Starting out in only 5 countries in East Africa, TMA has grown to spread her footprint...

Nedbank’s John Hudson and Olebogeng Mogale discuss how digital technologies are making it easier for farmers to gain greater control over their route to market. JEANETTE CLARK: Digitisation and technology disruptions have picked up the pace over the last two years, necessitated by the pandemic and businesses having to find new ways of doing business. In the agricultural sector some of the many new ways that were found included agricultural e-commerce – or online trading of agricultural commodities, fresh produce, and even livestock. Joining me today is John Hudson, national head, Agriculture at Nedbank, and Olebogeng Mogale, executive, Digital Fast Lane at Nedbank, as we discuss the sector and ask whether agriculture has always been a good adopter of new technology. John, from a wider perspective, please can you tell us what technology innovation and digitisation mean for agriculture? JOHN HUDSON: Thank you, Jeanette. Quite honestly, agriculture is no different from many of the other sectors. I think it is playing a vital role and, as you said, we have seen [its] uptake just increase over the pandemic. But to be honest I think farmers have been really good adopters of technology and also digital solutions, and really this has been brought about by the cost-price squeeze effect. Farmers have been under pressure, margins have been squeezed all the time. I think one of the ways that farmers have stayed in the game is to take on technology, so in that sense, it is really, really important. What I do feel is...