Africa: Continent Loses Billions in Potential Trade Earnings, Says World Bank
[World Bank]
Washington -
With African leaders now calling for a continental free trade area by 2017 to boost trade within the continent, a new World Bank report shows how African countries are losing out on billions of dollars in potential trade earnings every year because of high trade barriers with neighboring countries, and that it is easier for Africa to trade with the rest of the world than with itself.
Ghana: Ghana, Unions Agree On Fuel Cost Reduction
[Daily Trust]
Accra -
The Ghanaian authorities and representatives of Ghana Trade Union Congress (TUC) have agreed to a 20 per cent reduction in the pump price of petroleum products in the country.
Egypt: Coordination Council to Follow Up Plan of Promoting Exports
[Egypt Online]
Mahmoud Eissa Industry and Foreign Trade Minister said on Monday 6/2/2012 that a coordination council will be established to promote Egyptian exports.
Kenya: Bett Tells Kibaki to Ban Trade On Scrap Metals
[Nairobi Star]
ROADS minister Franklin Bett has called on the President to ban trade on scrap metal to stop the theft of road signs. Bett said trade has accelerated vandalism of road signs. This, he said, is costing the ministry huge amount of money in repairing the signs. He said the vandals of road signs have led to the increase of road accidents. The rails which are supposed to protect vehicle from veering off the road and signs that should direct motorists have been removed, the minister said.
Kenya: Flower Trade Blossoms Out of Sh10 Investment
[Business Daily]
With only Sh10, George Mutahi now aged 60, started what has become a successful business venture that has spanned over 40 years and which now earns him thousands of shillings regularly.
Africa: Gender Equality Through Trade
[Commonwealth]
Moving towards gender equality through economic empowerment of women
Nigeria: Ex-TUC Boss Faults Arrest of Boko Haram Chief
[Daily Trust]
Kaduna -
Former chairman of the Trade Union Congress (TUC) Kaduna State council, Paul Jezhi, has faulted the arrest of the spokesman of the Boko Haram sect, Abu Qaqa by State Security Services (SSS), saying the action would scare its members from coming out to dialogue with the president. Jezhi, who addressed journalists in Kaduna yesterday, called on the sect to sheath swords and dialogue with the Federal Government.
Africa: EAC, Comesa, SADC Pact Signing for 2014
[EA Business]
Arusha, Tanzania -
Chairman of the East African Community (EAC) heads of State Summit and Kenyan President Mwai Kibaki has said that the tripartite agreement of the three African regional economic communities (REC's) is to be signed by the year 2014.
Uganda: Exporters Decry 'Sampling' Theft
[EA Business]
Kampala -
Local exporters have asked the Uganda Revenue Authority (URA) and Uganda Export Promotions Board (UEPB) to review the mounting incidents of customs officials taking products meant for exports claiming that they are for samples.
Africa: Continent Must Solve Intra-Trade Puzzle
[Business Daily]
It was an eventful week at the African Union headquarters in Addis Abbas, Ethiopia. Besides hot elections and the grandiose opening of the organisation's gift from China, the issue of Intra- trade kept the continent's honchos busy.
Zimbabwe: More Local Diamonds Set for Auction
[SW Radio]
More diamonds from the controversial Chiadzwa diamond fields are set to be auctioned this week, with mounting pressure on the government to put diamonds profits to good use.
Zimbabwe: Firm Unveils Cost-Cutting Scheme for Cross-Border Traders
[The Herald]
A LOCAL travel agency, Happy Travellers, has come up with an innovative scheme that will help reduce travelling costs for cross-border traders. The scheme is expected to benefit cross-border traders who travel regularly to China and Dubai.
East Africa: Regional Blocs Threaten Uganda's Grip On South Sudan Market
[Monitor]
Uganda's trade figures with South Sudan are slowly taking a tumble as the political class continues to shelve a proposal that would re-ignite trade between the two neighbouring countries.
Egypt: Chinese Feed Illegal Ivory Trade
[IPS]
Cairo -
The illegal trade in ivory continues in Egypt, with ivory products sold openly in local tourist markets by traders who operate with impunity, a new study by the conservation group Traffic has found.
Ghana: Trades Union Rejects Fuel Price Hike
[Public Agenda]
The Ghana Trades Union Congress (TUC) has rejected measures taken by government to cushion the plight of worker as a result of the increase in the prices of fuel as ineffective, calling for a nationwide demonstration on Tuesday, 7th February to register its anger.
Ghana: Local Content Policy Violates Trade Rules
[Public Agenda]
It has been observed that the country's much -touted local content policy on oil and gas potentially violates two cardinal requirements under the World Trade Organization (WTO) rules on local content.
Egypt: Minister Says Power Exports to Palestine Will Increase
[Egypt Online]
The Ministry of Electricity and Energy said Friday that Egypt has taken all necessary measures for the accession of Palestinian lands to the Arab power grid after approval of the council of Arab ministers of electricity on the accession of the isolated Palestinian power network, which is not linked to any other electrical systems.
East Africa: New Plan to Remove EAC Trade Hurdles
[Nairobi Star]
THE East African Community secretariat is working on a legal document to compel member states to eliminate Non Tarrif Barriers and speed up common market gains.
Nigeria: U.S. Trade Mission to Visit the Country
[This Day]
A United States Energy Trade Mission will meet with senior Nigerian government officials on February 13 and 14 to discuss challenges for US private-sector investment in energy infrastructure projects.
Kenya: Traders Defend 14-Seat Matatu
[Nairobi Star]
THE government's plan to phase out 14-seater matatu has been criticised by Nakuru operators. Nakuru County Matatu Association chairman Njoroge Bumasu said the plan will adversely affect the livelihoods of many people in the country who depend on matatu for livelihood. Speaking in Nakuru yesterday, Bumasu said matatu are a major employer of the youth. He said said phasing them out the 14-seater matatu will cause loss of employment for more than 20,000 people in Nakuru county.
Egypt: Country's Exports to Eastern Asian States Up 15 Percent in 2010
[Egypt Online]
The volume of Egypt's exports to eastern Asian states was up by 15% in 2010 to reach LE 21.5 billion pounds in comparison to LE 18.7 billion in the previous year.
Nigeria: High Import of Finished Goods Hurting Economy
[Vanguard]
Nigerians have continued to spend the nation's foreign reserves in the importation of finished consumer products that could be sourced locally if efforts are made to patronize made in Nigeria products.
Angola: Trade With China Rises to 11.5 Percent - Statistics
[ANGOP]
Beijing -
Trades between Angola and China increased by 11.5 percent in 2011, corresponding to USD 24.88 billion, which ranks Angola as the second biggest Chinese partner among the Portuguese-speaking countries.
Zimbabwe: Local Diamonds Shake Market
[The Herald]
MARANGE diamonds have brought stiff competition on the international market, causing prices to fall sharply, especially in India.
Zimbabwe: Country Not Ready for FTA, Says Minister
[The Herald]
ZIMBABWE prefers the customs union than to adopt the Free Trade Area because local industry is yet to pick up, legislators heard last week.
Africa: Wishing AU Well On Free Trade Area
[Public Agenda]
The African Continent had in the past and to this present day been described in uncomplimentary terms: the 'Dark Continent', the 'Continent that Devours its People', the 'Scar on the Conscience of the World', among others. These descriptions, although inappropriate and widely exaggerated, had stemmed from certain incidents, events and happenings on the continent.
Kenya: Kisumu Airport Paves Way for Booming Trade
[Business Daily]
Kisumu International Airport was officially opened on Thursday, paving the way for increased trade and investment in the Western Kenya region .
South Africa: Nation Still a Net Food Exporter
[SA Info]
South Africa remains a net a food exporter, selling 30% more agricultural goods abroad than it imported in 2010, according to the latest South Africa Survey, published last month by the SA Institute of Race Relations.
Zambia: Emirates Airline to Link the Country to World Markets
[Times of Zambia]
THE Emirates Airline, one of the world's fastest growing airlines, has launched a new linked service to Lusaka and Harare that will help sustain Zambia's economic growth by bridging the country with markets throughout the world.
South Sudan: Dollar Shortage Hits Country
[Monitor]
Kampala -
Businesses in South Sudan have been hit by a biting shortage of dollars following the shut-down of more than half of the country's oil wells, the main foreign currency earner.