TFC, Afreximbank join Efforts to Support African Trade with $100 Million and €50 Million Murabaha Partnership Agreements
The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, and the African Export-Import Bank (Afreximbank), a multilateral financial institution established by African governments and institutional investors, have signed a US$100-Million agreement and a EUR 50-Million Murabaha agreement with the aim of facilitating and financing exports amongst African countries and […]
China’s Foreign Policy Experiment in South Sudan
China’s longstanding principle of non-interference in other states’ internal affairs is evolving with its growing global footprint. As Chinese overseas investment and business links grow in scope and depth, Beijing faces increasing threats to its citizens, economic interests and international reputation. That, in turn, has confronted China with the inherent limitations of its traditional hands-off […]
Asia’s Richest Person, Alibaba Founder Jack Ma to Visit Kenya
On his first ever visit to Africa, Jack Ma founder of Alibaba Group and UNCTAD special adviser on youth entrepreneurship, will be in Nairobi on 19th July. The purpose of his visit is to raise awareness about the sustainable development goals. Together with the UNCTAD secretary general, Dr.Mukhisa Kituyi, they will also meet up with […]
Sudan Economy Ready For Take-off After U.S. Sanctions – Govt
Sudan’s government is confident that they are ready to enter the African and international markets when the U.S. sanctions – frozen for the past six months – are dropped. The Trump administration needs to make a final decision on permanently dropping the sanctions by July 13. Finance Minister Mohamed Ousman Elrakibi, speaking during the Afreximbank […]
Djibouti Inaugurates Port for Salt Export
Djibouti has opened the Port of Ghoubet with the main aim of making it a key terminal for salt exportation, with a capacity of five million tonnes, to the world from Lake Assal, one of the lowest spots in the world. The Port, which has been under construction for the last two years at a […]
It’s Time Africa Acted Over Its Wealth
That Africa needs to redress the huge gulf between its wealth and its poverty is a foregone conclusion. Statistics of outflows from Africa against inflows in everything from aid, foreign direct investment to remittances will boggle the mind. But you already know that. What Africa needs to do about it is another matter altogether. President […]
Zim first quarter trade deficit narrows: Exports increase by US$100m, Imports remain flat at US$1,3bn & Locals import $3m pampers in three months
ZIMBABWE’S trade deficit narrowed by 14,5 percent (US$98 million) to US$576 million in the first three months of the year from the same period a year earlier, as exports jumped 15,7 percent to US$724 million driven mainly by mineral exports and tobacco. The influx of foreign goods — notwithstanding the implementation of Statutory Instrument (SI) […]
Formal trade in Africa can improve region, prospects for women – UN agency reports
Simplifying the requirements for a business license, offering incentives to tax payers, and tackling official corruption are among the recommendations by the United Nations agricultural organization to cut informal trade among African countries and boost economic prosperity, particularly for women. “Informal cross-border trading, in which transactions are not compliant with local tax and other rules, […]
Regional Bloc Strikes Common Accord On Economic Partnership Agreement
East African heads of state have jointly agreed that the EAC members that have not signed the European Union -EAC economic partnership agreement (EPA) will not do so pending clarification of outstanding issues. In a joint communiques of the EAC Heads of Summit concluded in Dar es Salaam on Sunday, the presidents agreed that Kenya […]
Kenya Edible Oil Denied Tax-Free Uganda, Tanzania Entry
Kenya has suffered a blow in its effort to change East Africa’s market access rules to allow duty-free sale of edible oil manufactured from imported raw material. Kenya, with the support of Burundi, has been pushing for the review of East Africa Community’s rules of origin to give tax-free access to products even if imported […]
