Category: Business

The region has been pushing for integration to bolster intra-regional trade and investments, which are running into headwinds from tariff and non-tariff barriers (NTBs).

“Sourcing for alternative financing from Europe is on-going,” Uganda’s Ministry of Works and Transport said on Thursday. He did not name which specific European funders Uganda was wooing.

According to Kenya’s Economic Survey 2023 released early May, the number of building plans approved in Nairobi, for instance, increased by 58 percent.

This week, business owners in Tanzania’s largest market went on strike, demanding that the government review taxes and levies imposed on them.

Stores in Kariakoo, a massive market located in the financial capital Dar es Salaam, closed their doors on Monday, calling for an end to "multiple taxes, harassment by police and the tax collectors" after the new levy came into effect last month.

The Nairobi Securities Exchange-listed company will pay the British multinational –which was previously its top shareholder— a token amount of $1 in the deal to receive regulatory approvals in the next few weeks.

“Airlines work hard to get their passengers to their destinations on time and do their best to minimise the impacts of any delays. Airlines already have financial incentives to get their passengers to their destination as planned,” said Iata Director General Willie Walsh.

Initially, the project located offshore, had been estimated to cost about $30 billion, but some recent industry reports have quoted it at $40 billion.

The latest data shows the value of apparels exported from Kenya via Export Processing Zones (EPZ) under the pact hit a new high of Ksh54.1 billion ($395.76 million) last year, translating to a 10.8 percent rise from the Ksh41.6 billion ($304.32 million) realised in 2018.

Fresh data shows that Kenya’s direct investment in Ethiopia hit Ksh60.2 billion ($440.7 million) in 2021—surpassing Tanzania and Uganda’s Ksh51.5 billion ($377 million) and Ksh56.3 billion ($412 million), respectively.