23 September Trade and Financial Services Round Up

Kenya Treasury asks MPs to unlock Sh39bn county allocations The National Treasury has asked the new Parliament to reintroduce and fast-track a Bill that will unlock Sh39 billion in additional allocations to county governments. Treasury Cabinet Secretary Ukur Yatani said the delayed approval of the

16th September 2022 Trade and Financial Services Round Up

KENYA State saves Sh9.4 billion from scrapped fuel subsidy The Treasury will save an estimated Sh9.49 billion from the partial withdrawal of fuel subsidies that sent diesel and petrol prices to a historic high. The energy regulator scrapped the subsidy on petrol a day after

2nd September 2022 Trade & Financial Services Round Up

KENYA How budget chief plans to kill false unpaid bills The Controller of Budget (CoB) will not accept fresh payment requests from counties and entities of the national government for the year ended June, in the latest move to curb a surge in fake claims

19th August 2022 Trade & Financial Services Round Up

KENYA New President inherits half a trillion shillings of unpaid bills Kenya’s new President will inherit more than Sh500 billion owed to suppliers and contractors by ministries and State agencies in bills that have exposed many small and medium-sized businesses to closures and auctions. Latest

Unpacking Kenya AfCFTA National Implementation Strategy 2022-2027

Recently, Kenya was selected among several countries that would initiate trading under the African Continental Free Trade Agreement (AfCFTA). The pilot phase is meant to test environmental, legal and trade policy basis for intra-African trade.Trading under the AfCFTA provides great opportunities such as a combined

12th August 2022 Trade & Financial Services Round Up

KENYA EABL’s Kisumu and Nairobi biomass plants almost ready East African Breweries Plc (EABL) is set to complete the setting up of its biomass-fired energy plants as it accelerates its shift to renewable energy. Diageo Plc, a majority shareholder of EABL, says the Kenya biomass

What August 9th General Election means to the East African Community

Kenya’s electioneering season is now in its final stretch. On August 9, voters will head to polling stations across the country and in the diaspora to cast their votes. A peaceful General Election in Kenya will strengthen regional stability. The country needs a leader who

The AU Data Policy Framework: Africa’s solution to data emancipation?

The data policy framework for African countries seeks to maximise the benefits of a data-driven economy by creating an enabling policy environment for private and public investments necessary to support data-driven value creation and innovation.  The document, if implemented accordingly, will increase data policy harmonisation

5th August 2022 Trade & Financial Service Round Up

KENYA Deloitte fined for Sh2.1bn hidden hole in Chase Bank The capital markets regulator on Wednesday fined Deloitte after the audit firm failed to detect a non-existent Sh2.1 billion Chase Bank account at the Central Bank that enticed bond investors to offer the collapsed lender

The scramble for the 90 million strong market

The East African Community member states are eyeing the Democratic Republic of Congo market of 86.7 million people and are eager to have the vast country join the bloc. With a surface area equivalent to that of Western Europe, the DRC is the largest country

Private Sector Engagement in the Africa Continental Free Trade Area (AfCFTA)

The World’s largest Free Trade Area is finally here with us covering a market of 1.27bn people with a combined GDP of 3.4 trillion US dollars. The region does enter the agreement with great momentum around trade: Exports have grown by nearly a factor of

COVID-19: Global trade value chains, taxation, and recovery

Ideally, removing the non-tariff barriers that remain the biggest hindrance to continental trade can foster regional integration, which must play a key role in the crisis recovery strategies in Africa.

FTA Series – Part 3: What you need to know about the COMESA Digital Free Trade Area

COMESA is the Common Market for Eastern and Southern Africa. In 2018, they agreed to establish a Digital Free Trade Area (DFTA). The initiative that upon inception was expected to create a $17.2 billion-worth market for member states is an online platform for trade facilitation

FTA Series – Part 2: African Continental Free Trade Area Agreement

The AfCFTA offers a unique opportunity to develop an inclusive trade system and economic model by increasing intra-continental trade; but in order to trade, Africa first has to produce; and not just primary commodities. However, the AfCFTA will only promote intra-African trade if governments actually implement it

FTA Series – Part 1: What you need to know

A population estimated at 1.3 billion predominantly made up of young people and with an
abundance of natural resources, Africa presents market opportunities, a growing labour force
and raw materials for manufacturing.