TRADE AND FINANCIAL SERVICES ROUND-UP

November 25, 2023 - Reading Time: 3 minutes - By Naisiae Simiren

Kenya

Sugar factories roar to life again on December 1

Sugar millers are set to be re-opened on December 1 more than four months after they were ordered shut after most were accused of harvesting immature cane. It is good news for sugar cane farmers who have been hit by the August suspension by the Agriculture and Food Authority (Afa, the body that regulates and promotes food crops in the country.

“Yes. This is the plan (to lift the suspension on December 1),” said Willis Audi, director general of Afa when contacted by the Business Daily on its plans to lift the suspension. Re-opening of the factories was initially set for November 1 but this was delayed to next month.

Kenya has 16 sugar factories out of which five – Miwani, Chemelil, Muhoroni (under receivership), Nzoia, and South Nyanza — are owned by the government, which also has a stake in Mumias Sugar which is now under receivership. Private milling factories include tycoon Jaswant Rai’s West Kenya Sugar Company, West Kenya – Olepito Sugar Unit, and Sukari Sugar Industries.

Other private millers include Butali Sugar, Kwale International Sugar, Busia Sugar Industry, Soin Sugar Company, and Miwani Sugar.

(Source: Business Daily)

Tanzania

Reasons French firms want to invest in Tanzania

The appetite of French companies to invest in Tanzania is growing, with 13 operators of Small and Medium Enterprises (SMEs) from France making a three-day visit in search of market and business opportunities in the East African nation.

The France ambassador in Tanzania, Mr. Nabil Hajlaoui, said on Tuesday that during the visit that started on Monday this week (November 20, 2023), the SMEs conducted personalized and business-to-business meetings with their Tanzanian counterparts in both the public and private sectors. The delegation comprised those from the construction, healthcare, aeronautics, and services sectors.

(Source: The Citizen)

Uganda

Interoperator fees still challenge to digital financial inclusion, says BoU

For Uganda to go to the next stage of financial development, fees related to inter-operator services must significantly come down or totally eliminated, according to the Bank of Uganda.

The fees, among other obstacles, remain a challenge to the full adaptability of digital financial services, Mr Andrew Kawere, the Bank of Uganda National Payment Systems deputy director, said during the Digital and Financial Inclusion Summit in Kampala, noting that barriers resulting from inter-operator requirements have marginalized a section of Ugandans from advancing their financial knowledge.

(Source: Monitor)

Rwanda

Flo, Africa’s first organic beer, enters the Rwandan market

Beer enthusiasts in Rwanda can now savour the quality of Belgian organic craft beers with the launch of three distinct brands: Red FLO Organic, Yellow FLO Organic, and FLO58 Organic.

Aperitifs and digestifs, which are alcoholic beverages traditionally enjoyed before and after a meal, have become integral components of the social customs of many Rwandans.

But “our beer truly distinguishes itself – it’s exceptional and completely organic. We avoid industrial fertilizers and pesticides, choosing instead to embrace traditional farming practices. Our brewing process is an art, not a factory operation, and we uphold a stringent no-chemical-additives policy, with absolutely no added sugar,” explained John Christian Kavakure, Managing Director of Les Brasseries de Flobecq, the Belgian brewery responsible for “Flo.”

(Source: The New Times)

Ethiopia

French companies exploring investment opportunities in Ethiopia

Some 22 French companies from various sectors are in Ethiopia to explore and identify investment opportunities in the country. A delegation from MEDEF, the international branch of France’s primary business federation, is conducting a working visit to Ethiopia.

The visit is part of France’s ongoing efforts to strengthen its economic presence in eastern and Horn of Africa. The delegation includes 22 French companies from sectors such as logistics, infrastructure, telecommunications, healthcare, culture, and education.

Philip Labonne, president of Africa Global Logistics, a French company, told a journalist that the visiting companies have held productive meetings with several authorities and business leaders in Ethiopia.

(Source: ENA)

Somalia

Hormuud Telecom’s CEO wins World Communications Awards 2023

Hormuud Telecom, Somalia’s leading telecommunications company, has achieved a significant milestone as its CEO, Ahmed Mohamud Yusuf, emerged as the winner of the illustrious CEO of the Year award at the World Communications Awards 2023. The event, which celebrated its 25th anniversary this year, took place at the National Maritime Museum in Amsterdam, Netherlands.

The World Communications Awards, launched in 1999 by Total Telecom, have become a global platform to recognize and honour the successes and innovations within the telecom industry. This annual event brings together decision-makers from around the world, making it the biggest night in telecoms. It provides an exceptional opportunity for telecom thought leaders to showcase their commitment to excellence in the industry.

(Source: Radio Dalsan)

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