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The governments of Tanzania and Zambia have revealed plans to pump $80 million into its jointly owned loss-making railway venture, Tanzania-Zambia Railway Authority (TAZARA) in the next twelve months. Company spokesman, Conrad Simuchile said $9.2 million of the injected fund will be released immediately to cater for two months of outstanding employees’ salary arrears and […]
TANZANIA will strive to promote intra-Africa trade, an important initiative that presents opportunities for sustained growth and development. Intra-African trade has the potential to reduce vulnerability to global shocks, contribute to economic diversification, enhance export competitiveness and create employment. This was said by the Deputy Permanent Secretary in the Ministry of Industry and Trade, Ms […]
A meeting bringing together Kenyan business people and close to 60 representatives of Israeli companies in Nairobi has signalled a potential step towards correcting the trade imbalance between the two countries. Kenya’s exports to Israel in the last five years recorded a $11.3 million (994 million) increase from $12.9 million (Sh1.13 billion) in 2007 to […]
East Africa’s second largest economy, Tanzania has recorded the fastest growth in the East Africa Community (EAC) partner states for the period of 2013. Deloitte’s Economic Outlook 2014 shows that Tanzania’s economy grew by 6.9% in 2013 and there are expectations that growth will hit the 7% mark in 2014 and 2015. “Gas discovery is […]
Beverages such as mineral water, soft drinks and beer have been added onto items to be cleared under the Single Customs Territory system, a regional initiative meant to speed up the clearance of goods and quicken revenue collection. Other goods that have also been cleared under the system include; wines, spirits and plastics. “Beginning June […]
Trade is an excellent kindle for igniting growth, jobs and socio-economic gains. For this to occur, trade has to be effectively harnessed and sustainably exploited. This requires market information, trade intelligence, skills upgrade, productive capacity and an enabling business environment. In many respects, these elements are ‘Business 101’ of what any economy needs to grow […]
Kenya has stepped up the pursuit for new export markets in a fresh mission that will see it boost trade ties and address it’s current account deficit. The Kenya National Chamber of Commerce and Industries leads a delegation of 60 businessmen on Wednesday to meet business experts at a global trade forum in Uganda. The […]
Observers have said that trade within the East African Community has improved tremendously as the regional integration within the bloc has spurred the movement of goods and services across the borders. Speaking to The Observer recently, Isaac Shinyekwa, a trade and integration research fellow at the Economic Policy Research Centre (EPRC), said trade in the […]
The State is fast-tracking the establishment of three special economic zones (SEZs) in Kisumu, Mombasa and Lamu. The manufacturing facilities to be set up within these zones, including textile factories, are expected to create a million jobs yearly. Â Parliament is also expected to pass a law establishing SEZs by the end of this month. […]
Trade between the Democratic Republic of Congo (DRC) and Rwanda is to be expanded thanks to the injection of $1 million to ease procedures. TradeMark Africa (TMA) through the Contribution Agreement under TradeMark Africa (TMA) dubbed ‘Linking East to West’, is supporting Rwanda’s trade competitiveness between East African Community and the DRC. Belgium and the […]
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