Browsing: Trade within EAC

The potential for family businesses in driving Africa's economies

Family businesses are an underestimated economic driving force according to the Africa Investment Forum.

Earlier this year, a survey from PricewaterhouseCoopers (PwC), revealed that 17 per cent of Kenya family business owners report having a robust, documented and communicated succession plan in place, compared to 15 per cent globally.

Family businesses are rarely viewed as a sector which could influence economic growth, but the Africa Investment Forum is recognising them as important players on the continent.

In its third edition, a report dubbed the Family Business Survey 2018 by PricewaterhouseCoopers (PWC) noted that digital technology is disrupting businesses; sustainability is becoming key to the conduct of business; winning trust is more important than it’s ever been; and millenials present an enduring demographic change.

The 2018 survey results shows that family businesses in Kenya are in robust health, with revenues expected to continue growing for the vast majority 82 per cent, …

Uganda Revenue Authority (URA) is set to auction hundreds of imported cars destined for Uganda, which are now abandoned in warehouses in Mombasa.

According to the East Africa Community Custom Management act 2004, the cars have exceeded their permitted clearance and warehousing period. Which according to the act, the cars can stay in the warehouse within 30 days from the date the auction bid was placed and after failing to pay all the requisite fees, taxes, fines, penalties and charges that will have accrued.

A number of the cars have already been auctioned as the bidding process ended early this month.

A URA official in Mombasa Charles Busomba said that the auction is ongoing and some vehicles will be actioned to decongest the warehouses and to avoid accruing more storage charges.

“Due process was followed and we placed public notices in different media and in our government website to attract …

East African Community ( EAC )member states have been urged to should eliminate NTBs and implement agreed EAC directives to boost intra EAC trade to 50 per cent.

According to the East African Business Council CEO Mr Peter Mathuki, business community and officials from Trade Facilitation Agencies should embrace the vision of a borderless East Africa for trade.

Intra EAC trade is currently at 12 per cent.

Last week, EABC – and Trade Mark East Africa (TMEA) kicked off the second Public-Private Dialogue (PPD) with Trade Facilitation Agencies at Busia One-Stop Border Post to interrogate if EAC agreements and practices ease doing business across EAC borders. The EABC-TMEA Public-Private Dialogue was held with Trade Facilitation Agencies at Busia One-Stop Border Post.The PPDs focus is on the extent to which Partner States are translating the EAC Common Market and Customs Union Protocols into policies that support the actualization of free movement …

The East African Business Council has called for closer government partnership and involvement with the private sector in policy formulation to enhance the competitiveness of the EAC region.

This, according to the EABC Chairman Mr Nick Nesbitt will also enhance value addition in agriculture, mining and services sectors among others as well as strengthening regional value chains.

“EABC is a respected coordinator and holds respective dialogue with EAC governments with balanced regional views and policy stance,” he said.

Mr. Nebsitt  was speaking during a courtesy visit to Uganda’s President Yoweri Kaguta Museveni, and highlighted the importance of fast tracking the  comprehensive review of EAC CET; Liberalization of Opens Skies;  One Network Area on Telecommunication; Harmonization of Standards in the EAC; Strengthening the EAC Secretariat on enforcement of laws; Market access with Democratic Republic of the Congo; Transport interlinkages in the region – Road, Rail and Water (lake Victoria); Inter-governmental trade …