Trade and Financial Services Round-Up.

  • 9 May 2024
  • 2 Mins Read
  • 〜 by Anne Ndungu



SEZ companies get Sh1.9bn tax incentives in nine years

Firms operating in Kenya’s special economic zones (SEZ) were exempted from paying Sh1.98 billion in taxes and other levies in the nine years to 2023, Parliament was told. The incentives include protection from corporation tax, withholding taxes, and value-added tax (VAT) and are offered to developers and enterprises in SEZs to encourage local investment. (Business Daily)



Govt seeks new investor for meat processing factory in Shinyanga

The government is seeking an investor to operate the Sinyanga meat processing plant, which was constructed in 1978 under Tanganyika Packers Limited (TPL). Deputy Minister for Livestock and Fisheries, Mr Alexander Mnyeti, informed the National Assembly yesterday that the plant is one of three factories built in the country in the 1970s. (Daily News)



Uganda shines in Dubai as UAE investments hit UgShs 3trn

Uganda was yesterday crowned as the best investment destination for the United Arab Emirates (UAE) in Africa. (The Monitor)



Rwanda launches second phase of economic digitalisation programme

The Ministry of ICT and Innovation, the Mastercard Foundation, and Cenfri, on Wednesday, May 8, announced the launch of the second phase of Rwanda’s Economy Digitalization Program.

A tripartite Memorandum of Understanding (MoU) was signed to build upon the success of the first phase and to improve the lives of citizens through data-driven policy and business decisions. Cenfri, a non-profit development consultancy focused on boosting economic growth and increasing sustainable development, has been pivotal in generating reliable data for financial inclusion in Rwanda. Over the past three years, the program has accessed and analysed more than 46 datasets from public and private sectors, impacting at least 15 discrete policy issues and materially changing the trajectory for many of them. (The New Times)


DR Congo

IMF, Congo reach deal on $1.5bn loan review

The International Monetary Fund said on Wednesday it had reached a staff-level agreement with the Democratic Republic of Congo on the final review of a $1.5 billion loan programme, noting the need for Congo to manage properly funds from a revised mining deal.  (The East African)



Ethiopia’s coffee exports reach USD 835 million in nine months

Ethiopian Coffee and Tea Authority reported strong coffee production and export figures for the first nine months of the 2016 fiscal year. Over 174,596 tons of coffee were exported, generating revenue of USD 835,230,000. (2merkato)