Trade and Financial Services Round Up.

  • 3 Jun 2024
  • 3 Mins Read
  • 〜 by Shammah Sirima



Treasury proposes budget cuts for Ruto, Gachagua, Musalia

The National Treasury has asked the budget committee to cut allocations for the three senior officials of the Kenya Kwanza government for the new year, even as it sought an extra Sh17 billion for the current year.

Funds slashed from the Executive Office of the President, Office of the Deputy President, the Prime Cabinet Secretary and State House will instead be re-allocated to the coffee reforms, the tree planting programme, enhancement of the budget for foreign missions and state visits.



Tanzanian brewer empowers small business owners with new efficiency-boosting skills

Beverage distributors and sellers in Tanzania have received training through an initiative known as the Retailer Development Programme (RDP) which was launched in Dar es Salaam on October 24, 2024 by Tanzania Breweries Limited (TBL) under the slogan GRIT (Growing Innovatively Together).

The rogramme aims to foster growth, education, and inclusion by training retailers on a number of topics, which include dinancial management, stock management, marketing and sales, and responsible business retailing.

The tailored business training sessions are facilitated by industry experts.

The retailers selected for the pilot phase of this initiatie will go through a detailed 6-module skills curriculum, including facilitator guides and participant handbooks tailored to the identified needs of retailers and focused on driving behavior change.

(The Citizen)


Norway gives Uganda green light on first oil in 2025

he Norwegian Oil for Development Programme (OfD) is ending over thirty years of support to Uganda’s Petroleum sector, that is now ready for take off.

Gunnar Sjögren, the Project Director of International Cooperation at the Norwegian Offshore Directorate (NOD)  said Uganda’s petroleum sector’s building block is in place.

He said the only thing Uganda lacks is experience as an oil-producing country. He was speaking at an event held at Kampala Sheraton Hotel under the theme “The Uganda-Norway Cooperation in the Energy Sector”.

While Uganda discovered oil in the Albertine Graben in 2006, the resource remained underground because the country did not have the required policies and laws to regulate the sector.

Uganda’s Oil for Development Programme has focused on strengthening the oil and gas sector. It focused on four key pillars. These included resource management by ensuring that Uganda has the knowledge and tools to accurately assess and manage its oil resources.

(The Independent)


Rwanda, Singapore to lead development of AI Governance Playbook for small states

Rwanda and Singapore have announced that they will be partnering to lead the development of a Digital Forum of Small States (Digital FOSS) Artificial Intelligence (AI) Governance Playbook, which is expected to be available by the end of 2024.

The playbook, which is tailored for small states, will address the challenges associated with the secure design, development, evaluation, and implementation of AI systems, taking into consideration the unique constraints that small states face.

The aim, the two countries said, is to facilitate collaboration among policymakers in FOSS, to establish a trusted ecosystem where AI technologies are utilised for the benefit of the public.

(The New Times)


Revitalizing of Low-cost Housing Schemes Initiated by PM Abiy Inspiring Others: PMO

Revitalizing of low-cost housing schemes initiated by Prime Minister Abiy Ahmed has inspired both governmental and non-governmental sectors to undertake similar projects in cities and regions, transforming lifestyles and improving living standards for many, Office of the Prime Minister revealed.

Since assuming office, Prime Minister Abiy Ahmed has revitalised low-cost housing schemes within the social welfare sector.

This bold initiative goes beyond mere renovations, completely overhauling dilapidated and makeshift dwellings with new, affordable housing units, enabling dignified living for the most impoverished, office of the Prime Minister indicated.