India and Kenya will explore closer security cooperation, especially in the maritime domain, diversify 2 way trade and set up joint ventures as part of a comprehensive partnership. The agreement was reached following extensive talks External Affairs Minister S Jaishankar had during his 12-14 June visit to the East African country. The visit was significant as it took place ahead of the 4th India-Africa Summit New Delhi plans to host.... Read more »

Posted on : Thursday , 24th June 2021

The Kenya National Chamber of Commerce and Industry (KNCCI), a business trade lobby, plans to promote imports of advanced Chinese machinery in order to boost the country's industrial sector, an official said on 2nd June 2021. Kariuki Theuri, chairman of economic diplomacy committee with KNCCI, told journalists in Nairobi that Kenya heavily depends on foreign manufactured goods. "We will promote imports of modern machinery from China in.... Read more »

Posted on : Thursday , 24th June 2021

China Civil Engineering Construction Corporation has started the construction of a new industrial park in Eastern Ethiopia. The 1st phase of the industrial park will be built on 370 hectares of land near the Dire Dawa. It will feature various clusters and is expected to attract investors into textile, clothing and leather processing sectors. The industrial park will be built close to the Ethiopia-Djibouti standard gauge railway for easy.... Read more »

Posted on : Tuesday , 1st June 2021

Hon. Samia Suluhu Hassan has just completed a 2 day official visit to Kenya where she met her Kenyan counterpart President Uhuru Kenyatta with the aim to unlock trade and build up economic relations. President Samia Suluhu Hassan addressed the Kenyan parliament, where she pledged to develop co-operative projects including road construction, the construction of a 400 kW power line from Singida to Kenya, complete the One-stop Border Post, and.... Read more »

Posted on : Tuesday , 25th May 2021

Traders in Mwatate town, Taita Taveta are set to benefit from a Sh 50 million market under construction in partnership between the county government and the World Bank. The project implemented through the Kenya Urban Support Programme is set to be completed before the end of this financial year 2021 to accommodate over 200 small-scale traders in the area. Kenya Urban Support Programme is a 5 year World Bank programme targeting 45.... Read more »

Posted on : Friday , 7th May 2021

Kenya and the United States have resumed talks on the Free Trade Agreement which was ongoing since last year. Betty Maina, Kenya's Trade Cabinet Secretary and Katherine Tai, US Trade representative held talks that focussed on the importance of the trade relations between Kenya and Africa as important partners to the United States. The bilateral trade talks paused in the wake of American presidential elections last November 2020. A.... Read more »

Posted on : Friday , 7th May 2021

In its latest Monetary Policy Statement, Mid-Year Review, of February 2021 the Bank of Tanzania projects that the country’s real GDP will grow by 5.5 % in 2020 and by 6.0 % in 2021. The positive outlook is driven by expected value added in agriculture due to enough rains, public investment, increase in export earnings from mining contributed by high world market prices of gold, and private sector investment, coupled with supportive.... Read more »

Posted on : Monday , 3rd May 2021

On 21st April 2021, the President of Tanzania, Hon. Samia Suluhu Hassan met with the leaders of the Chinese Chamber of Commerce in the country to discuss the various issues pertaining to trade and investment.   The Chinese leaders led by Mr. Janson Huang guaranteed President Suluhu that they are ready to cooperate with the 6th Phase Government in economic growth and uplifting the welfare of the people through major investments of more.... Read more »

Posted on : Monday , 3rd May 2021

Ghana and Rwanda are considering trade and investment partnership opportunities to increase the economies of the 2 countries. This came to light at a virtual summit held to promote the exchange of goods and services between the 2 countries. The targeted areas include Agriculture, Manufacturing and Industrial Services. The virtual summit was organized under the auspices of the Rwanda Development Board and the Ghana Export Promotion.... Read more »

Posted on : Thursday , 8th April 2021

The Bank of Tanzania released its Monthly Economic Review – Feb 2021, indicating that the total exports of goods and services amounted to US$ 8,741.8 million in year ending January 2021, representing a slight decrease from US$ 9,835.5 million recorded in the corresponding period in 2020. Traditional exports amounted to US$ 705.4 million from US$ 959.7 million, accounting for 8.1 per cent of total exports. Non-traditional exports.... Read more »

Posted on : Thursday , 1st April 2021

The Oromia Industrial Parks Development Corporation of Ethiopia has signed an agreement worth around US$ 200 million to build a 250ha agricultural processing park in the western highlands province of Oromia. The agreement was signed by the head of the Ethiopian Industrial Parks Development Corporation Mr Sisay Gemechu, and the head of the Walabu Construction Share Company Mr Dereje Ermias, a contractor based in Oromia. The project is.... Read more »

Posted on : Monday , 15th March 2021

Rwanda has announced plans to increase its 2021-2022 budget by US$ 220.8 million from its initial US$ 3.2 billion, hitting US$ 3.4 billion. This comes even as the government battles disruptions from the global COVID-19 pandemic and seeks to revive the economy. The budget, primarily funded by domestic revenues projected to increase from US$ 1.6 billion to US$ 1.7 billion, will majorly spread across the education sector, followed by the.... Read more »

Posted on : Monday , 15th March 2021