28th October 2022 Trade and Financial Services Round Up

  • 28 Oct 2022
  • 2 Mins Read
  • 〜 by The Vellum Team

Uber, Bolt and Little drivers demand commission cut

Taxi drivers signed up on Uber Kenya, Little and Bolt platforms Thursday went on strike in a bid to push the firms to lower the commission charged on fares.

Uber charges a 25 percent commission per single ride, while Bolt and Little platforms charge 20 percent and 15 percent, respectively.

The National Transport and Safety Authority (NTSA) on June 20 published regulations to cap commissions charged by digital taxi operators in the country on drivers at 18 percent per trip. Uber, however, has gone to court seeking to suspend the regulations.

“All ride-hailing app in Kenya must adhere to the law before they can be allowed to work. Regulations were supposed to take effect on September 22 and it is unfortunate that they have not complied to date,” Mr Mwangi of the association said.

(Source: Business Daily)


Game store to shut down on December 25

South African retail giant Massmart, owners of Game Stores, has set December 25 as their last trading day in their outlets in Tanzania, Kenya, Uganda, Nigeria and Ghana after failing to find buyers.

In a notice that has widely circulated, the firm says that the first phase of consultations which was focused on the reasons for the proposed closure have now been completed and a decision has been reached to close the affected stores.

The firm says that immediate steps as part of the process is to initiate a stock clearance sale in all their stores in each of these countries.

(The Citizen)


Djibouti Expresses Desire to Import Wheat from Ethiopia

When Ethiopia starts exporting wheat to the foreign market, Djibouti will be the first buyer country, Djibouti’s Minister of Agriculture, Water, Fisheries, Livestock, and Marine Resources, Mohammed Ahmed Awaleh said.

Ethiopia and Djibouti have cordial relations and long-standing friendship. The two countries have strong cooperation at the leadership level, people-to-people, and economic as well as in regional and international forums.

The countries have been extensively promoting regional integration through the Ethio-Djibouti railway, renewable energy infrastructure, road and import and export trade.

Djibouti’s Minister of Agriculture, Water, Fisheries, Livestock, and Marine Resources, Mohammed Ahmed Awaleh told ENA that Ethiopia has a major role in facilitating fruit production and clean drinking water supply for Djibouti in the agricultural sector.

(Source: ENA)


Sudan Economy ‘in Peril’ as Workers Strike, Exports Drop

Workers and traders have been on strike in various parts of Sudan to protest increased taxes and high fines. Workers also protested over unpaid salaries and the failure to implement a promised 2022 salary structure. Some strikes and protests took place around political disagreements as well, Radio Dabanga reports.

The Sudanese government lost more than U.S.$4 billion in international support which was secured by former prime minister Abdallah Hamdok, before the military took power in a coup on October 25, 2021.

Since the coup, exports have also decreased significantly, leading to a loss of income, and recently the finance ministry announced that it expected no external support for the 2023 budget. These factors do not paint a rosy picture for the state treasury.

(Source: All Africa)