Business

Speaking at the EAC Incentive Scheme Workshop organized by East African Business Council with support from TradeMark East Africa; Dr. Samuel Nyantahe from Confederation of Tanzania Industries (CTI) said, "Final products manufactured using raw materials benefiting from duty remission do not access the EAC market at the preferential rate of 0% which has set back the growth...

The Burundi Central Bank (BRB) last week indicated that the capital market was established in the country 13 years ago despite not being able to be operational due to challenges mainly the lack of economic fluctuation. “The first and the main difficulty is what I call awareness. Because to progress a project requires to...

Lawmakers have given the Kenya Railways Corporation (KRC) three months to recover Sh1 billion it paid as compensation to faceless individuals that were affected by the building of the standard gauge railway (SGR). The details of the payments to unverified individuals by Kenya Railways are contained in the 24th Report on State Corporations by...

The East African Community (EAC) budget for the Financial Year 202223 has stagnated as the regional minister projected that the economy of the region is expected to decline amid inflation of commodities due to numerous factors. The community tabled $91.5 million for the financial year 2022-2023 with 59 percent of the budget  will be...

Pakistan’s rupee is poised for its biggest monthly decline in more than two years as deteriorating finances and uncertainty over the International Monetary Fund’s bailout plan weigh on the currency. The rupee has declined about 7% in May, the steepest drop since March 2020, as the country negotiates a bailout package with the IMF...

Kenya’s debt repayments towards China-funded infrastructure projects have more than doubled to a record Sh73.48 billion this financial year on the back of increased clearance of principal sums after the grace period lapsed. Expenditure data published this week by the Treasury shows the amount repaid to Chinese lenders has surged 135.15 percent compared with...

The East African Business Council (EABC) CEO John Bosco Kalisa called on the EAC member states to harmonize domestic tax regimes and Proposed measures for 2022/23 Budgets. Mr. Kalisa said the Treaty for the establishment of the East African Community obliges the Partner States to harmonize their tax policies with a view of removing...

The East African Business Council (EABC) this week announced that East African countries export to the European Union hit $2.6 billion in 2020 despite the challenges the region faced during the covid-19 pandemic. The CEO of the EABC John Bosco Kalisa during a meeting with the ambassador of the European Union (EU) to Tanzania...

Kenyans will pay more to use the new Expressway covering a stretch of 26 kilometers from Jomo Kenyatta Airport to Westlands with an extension on both sides, after the rates were adjusted up by 16 per cent in what is attributed to the dollar exchange. The modern road was put up at the cost of Sh88 billion...

Russia is guilty of creating a food security crisis and higher energy prices through its war with Ukraine, but China has — under the radar — also taken actions in three areas that are exacerbating inflation worldwide, said the Peterson Institute for International Economics. “Russia’s war in Ukraine has taken a shocking toll on the region,” wrote PIIE...