• 26 Jan 2024
  • 2 Mins Read
  • 〜 by Anne Ndungu


Kenya in tight spot as EAC, European trade deals clash

Kenya’s recently completed trade deals have run into stormy waters after Nairobi applied higher import duties on whiskies and wines from the United Kingdom and the European Union (EU), respectively, two jurisdictions with which it signed Economic Partnership Agreements (EPA).

While Kenya, in line with the East Africa Community (EAC) Customs Union, is applying a higher tariff of 35 percent on imported wines and whiskies to encourage local production, the two EPAs put the import duty at 25 percent. The deal with the EU is awaiting ratification in Brussels while the agreement with the UK is operational.

(Business Daily)



Tanzania now sets indicative prices for sugar after spike

Saddened by a monumental rise in sugar prices, the government has decided to wade into the product. Currently, a kilogram of sugar fetches between TSh 4,000 and TSh 5,000 across the country. 

(The Citizen)



Uganda to host heads of 80 African Finance Institutions

Delegations of at least 80 development finance institutions (DFIs) from Africa are due in Kampala next week for a benchmarking tour on Sustainability Standards. The benchmarking visit is organised under the umbrella African Association of Development Finance Institutions (AADFI) in cooperation with the European Organisation for Sustainable Development and hosted by the Uganda Development Bank (UDB).

It is aimed at sharing experiences, and helping others learn from UDB on how it is managing in embracing and adopting “the rigorous Sustainability Standards.” AADFI is an international organisation created under the auspices of the African Development Bank in 1975, with membership of over 80 DFIs spread across the African continent.

(The Independent)



Rwanda, Pakistan mull deeper trade, investment ties

A delegation of high-level Rwandan businesses is in Pakistan, where they are hosted by the Lahore Chamber of Commerce and Industry (LCCI) as part of the efforts to explore trade opportunities, as well as foster bilateral relations between both countries.

The visit included B2B meetings and discussions on the extensive potential for collaboration in trade and investment between Rwanda and Pakistan.

(The New Times)



Giant Canadian mining agro-processing companies to invest in Ethiopia

Giant Canadian companies with significant potential in the mining and agro-processing industries are currently making preparations to invest in Ethiopia, Ethiopian Ambassador to Canada, Fitsum Arega, said.

In an exclusive interview with ENA, Ethiopian Ambassador to Canada, Fitsum Arega said the embassy is promoting Ethiopia’s investment opportunities and favorable conditions in various spheres.

Thus, Canadian investors with high potential in the mining and agricultural processing sectors are in the process of investing in Ethiopia, the ambassador elaborated.

The ambassador pointed out that Canada is home to large companies with high experience and competence in the mining development sector.





UN urges Ethiopia and Somalia to talk to solve dispute

United Nations Secretary-General Antonio Guterres on Sunday urged Addis Ababa and Mogadishu to open dialogue to settle their dispute over Ethiopia’s Maritime deal with the breakaway region of Somaliland.

(The Citizen)