Kenya

US guarded on Kenya trade deal past Agoa expiry

The US is non-committal about when negotiations for a free trade deal with Kenya will be concluded despite Nairobi earlier saying the talks would be finalised by December.

The United States Trade Representative Katherine Tai, who concluded her three-day tour in Nairobi on Wednesday, indicated the US negotiators do not have a deadline for concluding talks or signing the proposed US-Kenya Strategic Trade and Investment Partnership (Stip). (The East African)

Tanzania 

TZ, Hungary ties: Samia commits to expand trade

President Samia Suluhu Hassan has expressed Tanzania’s commitment to further strengthen bilateral ties with Hungary to maximise potential in the areas of trade and investment, which are currently scanty.

The low volume of bilateral investment and trade which stood at 4.2 million US dollars (about TSh9.6 billion) in 2022, came as a wake-up call during the President of Hungary Katalin Novák working visit in the country.

Dr Samia, while briefing the media at the State House in Dar es Salaam, on Tuesday after a closed-door meeting with the Hungarian President, expressed optimism to improving and expanding business and investment between the two countries.

(Daily News)

Uganda

Sector players root for active participation in carbon markets

Stakeholders in the energy sector have made a call for adequate support towards concretising Uganda’s place in the global carbon trade.

Carbon trade is also known as emissions trading, a market-based approach allowing countries or organizations to buy and sell carbon credits.

A carbon credit is a unit that represents one ton of greenhouse gas emissions avoided, reduced, or removed from the environment that can be traded to generate revenue. According to the State Minister for Environment, Hon. Beatrice Anywar, Uganda has collaborated with a number of institutions and actors in carbon markets to achieve this goal. (Monitor)

Rwanda 

BRD, World Bank partner to issue first SDG bond in East Africa

The introduction of the Sustainability Linked Bonds (SLBs) through local capital markets is expected to completely alter the regional financial landscape. By leveraging private funding with IDA/World Bank concessional finance, this innovative initiative aims to improve access to finance for Rwandan SMEs in the post-pandemic era.

Through this bold approach, The Development Bank of Rwanda (BRD) is diversifying its resource mobilization instruments while aligning with its strategic objectives of fostering sustainable economic development in the context of rising interest rates. This will be an inaugural bond issuance for BRD.

The sustainability-linked bond programme will be built on BRD’s commitment to a specific and measurable framework, emphasizing the bank’s commitment to Sustainable Development Goals (SDGs). (The New Times)

Ethiopia

Ethiopia: Industrial Parks Development Corporation and Asia-Africa Chamber of Commerce agree to work together

The Industrial Parks Development Corporation and the Asia-Africa Chamber of Commerce have formed a partnership by signing a memorandum of understanding. The CEO of the Industrial Parks Development Corporation, Akilulu Tadese, and the President of the Asia-Africa Chamber of Commerce, GD Singh (Dr.), signed the agreement.

This partnership aims to enhance trade, investment, and friendship between Asia and Africa, particularly in the field of industrial parks. The collaboration is expected to attract more investment from Asian investors, thereby increasing the demand for industrial parks. (2Merkato)