Kenya

State risks losing Sh60m in cheap gas project.

The project, which resumed in 2022 after stalling for years, is meant to wean poor households from the use of dirty wood fuel by providing them with liquefied petroleum gas cylinders, grills, and burners to households at subsidised prices.

The State had by June last year pumped Sh1.12 billion into the project initiated in 2016, but it continues to face several hurdles, including faulty equipment. Ms Gathungu now warns that at least Sh60.9 million spent on the project is at high risk of loss.

(Business Daily)

Tanzania

Fuel prices: More pain at the pump with steep increases in March

Motorists in Dar es Salaam and other major cities in Tanzania will start paying higher prices for petroleum products after the announcement of new prices. The Energy and Water Utilities Regulatory Authority (Ewura) has announced an increase in the price caps for petroleum products in the country, effective Wednesday, March 6th, 2024.

For the month of March, the retail prices of fuel in the Dar es Salaam region are set at Tsh3,163 per litre for petrol, Tsh3,126 for diesel, and Tsh2,840 for kerosene.

(The Citizen)

Uganda

Uganda, EU agree to increase trade

The European Union and Uganda have agreed on the need to increase trade and investments between them because the current environment is favorable.

While the EU is Uganda’s largest single source of foreign direct investment and tourists, trade between the two is worth about 1.5 billion euros, as per the 2022 statistics.

On a positive note for Uganda, her exports account for 800 million dollars against imports worth 700 million, a rare trade balance of trade position for the country.

The EU says it is time for Uganda to benefit from the Global Gateway, an ambitious theme that stands for “sustainable and trusted connections that work for people and the planet,” helping to tackle the most pressing global challenges, from fighting climate change to improving health systems and boosting competitiveness and security of global supply chains.

(The Independent)

Rwanda

Rwanda’s exports to China rose by over 80% in 2023

Rwanda’s exports to China rose by more than 87 percent to a record high of $131 million (approximately Rwf 168 billion) in 2023, the Chinese ambassador to Rwanda Wang Xuekun has said.

The rise in exports, according to the embassy, was driven by imports like coffee, tea and dried chilli.

In 2021, Rwanda and China signed a protocol that would allow the former to export dried chili to China. Prior to that, some Rwandan companies had already signed cooperation agreements with Chinese buyers and were hoping for the signing of the protocol.

(The New Times)

Ethiopia

Ethiopia and Malta to strengthen business ties through forum in Addis Ababa

A forum is set to take place in Addis Ababa on March 12th, aiming to bolster business ties between Ethiopia and Malta. The Ethiopian Investment Commission (EIC) is organising the event, which seeks to tap into the unrealised investment potential between the two nations and foster dialogue for shared progress.

Close to 40 Maltese business representatives are expected to attend, representing various sectors like manufacturing, information and communication technology (ICT), education, architecture, medicine, and financial services.

(2merkato)