Kenya

Treasury cuts development, inflates budget by Sh187bn

President William Ruto’s administration has cut development expenditure but increased its maiden budget by Sh187.3 billion in an effort to confront economic headwinds related to missed tax targets, huge debt repayment obligations and spending pressures from critical sectors such as education and health.

(Source: Business Daily)

Tanzania

Chinese envoy optimistic about BRI’s potential to boost Sino-Tanzania trade

Chinese Ambassador to Tanzania Chen Mingjian has said she is optimistic that China will remain Tanzania’s largest and most significant trading partner thanks to the successful implementation of the Belt and Road Initiative (BRI) projects.

Last year, Sino-Tanzania trade volumes topped $8.31 billion, and in the first nine months of this year, the trade value has already reached $6.37 billion, Ms Chen said at a press conference on Thursday, October 26, 2023, as she briefed reporters on the recently concluded third BRI forum.

(Source: The Citizen)

Uganda

Ugandan envoy woos Chinese investors 

Uganda remains an attractive investment destination with opportunities in tourism, agriculture and agro-processing, oil and gas, human resources skills development, information technology, and science and technology, among others, according to Uganda’s consul general in Guangzhou, China.

According to Ambassador Judyth Nsababera, other investment opportunities include mining and mineral beneficiation, energy and Infrastructure development, among others.

(Source: Monitor)

Rwanda

Rwanda, Polish bank sign Rwf29bn deal to improve dairy sector

Rwanda and Bank Gospodarstwa Krajowego (BGK), a Polish development bank, have signed a financing agreement of €23 million (approx. Rwf29.9 billion)

The long-term loan will be used to purchase a milk cooling system from a Polish manufacturer, Faspol, after the export contract for the delivery of milk cooling installation with additional equipment and construction components is concluded between the Faspol and Rwanda Agriculture Board.

(Source: The New Times)

Ethiopia

Forage project launched in Ethiopia

A project aimed at establishing commercially viable and sustainable forage markets for dairy producers in Ethiopia was launched.

Speaking during the launching ceremony, Livestock Development Institute Director-General Asrat Tera said the project focuses on increasing the demand for climate-smart forage among small-scale producers in dairy villages, increasing the supply of nutrient-dense climate-smart forage grown locally, and strengthening the enabling environment for forage market development.

The project will be implemented in six regions of Ethiopia—Oromia, Amhara, Sidama, Central, Southern, and South West Ethiopia—and bring best practices to the other regions, he added.

(Source: ENA)