• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    $12 Billion Environment Financing Center – The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World
    President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness
    New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation
    South Africa and Stellantis has Greeted a Pact to Develop a Unique Automobile Manufacturing Facility
    Dr. Akinwumi Adesina AfDB’s President maintains it is time to Develop Youth-Based Wealth to Bolster a Better Comprehensive Nigerian Economy
    Abidjan to host on March 17th 2023 the 8th Session of the Steering Committee for the Construction Project of a Motorway between Abidjan and Lagos
    Rwanda’s President Paul Kagame and the President of the World Football Association(FIFA) launched the Kigali Pelé Stadium which is changing the name from Kigali Regional Stadium In Nyamirambo the Capital of Kigali
    First Gold Refinery Company BTC Global started the first Gold refinery in South Sudan in Juba
    The AfDB inducted the African Financial Integrity and Accountability Support Project (AFIAP) by way to Enhance Cooperative Ripostes to Illicit Financial Successions in African Nations
    Morocco’s Strawberry Exports Hits $70 Million in Annual Revenue, a New Historical Record

    $7.9 Billion in Exports glid in 2021 from the East African Community (EAC) Bloc to Africa amidst the Novel Corona Virus (COVID -19) Consequence

    Posted On 28 Jan 2023
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Abdul Rahman Bangura-

    Photo Credit: eac.int

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone-Disclosed in Kigali Rwanda, in the previous week, during a private sector sensitization workshop on African Continental Free Trade Area (AfCFTA). EAC exports to Africa comprised precious stones, coffee, tea, mineral oil, iron, steel, and cement. 42% of the region’s total exports of goods to the world was $18.7 billion during the period of COVID-19COVID-19.

    The session was coordinated by the East African Business Council (EABC), an apex assemblage of private sector associations in alliance with GIZ – a German Aid Agency. John Bosco Kalisa – EABC Executive Director announced, intra-Africa goods exports reaches $82.2 billion in 2019. He exhorted South Sudan to accept the AfCFTA pact like the comfort of the member states; Tanzania, Uganda, Kenya, Burundi, Rwanda, and D R Congo. This brought concurrently thirty industries in Rwanda who comprehended about the AfCFTA trade-in-goods protocol and its branches. Amongst others are the Rules of Origin, Tariff Concession, and the implications of Non-Tariff Barriers (NTBs) in the EAC bloc. Kalisa was highlighting that, the private sector players were the fundamental implementers of the continental trade pact.

    “EAC bloc has great potential to export vegetables, tea, rice, coffee, sugar, textile products, soap, sesame, seeds, edible oils, tubers and milk to the continent,” he stated. AfCFTA agreements is geared towards to improve intra-African trade through the incremental elimination of over 90% tariffs on goods, removal of NTBs and other trade regulations.

    Denis Karera – EABC Vice Chair, encouraged the private sector actors in Rwanda to boost their capacity on AfCFTA “and take the leading role in the AfCFTA agenda”. Antoine Kajangwe, a Senior Trade official in Rwanda’s Trade and Industry Ministry, said import duties (tariffs) under AfCFTA will be deducted progressively to zero by 2025 to 90% of the virtually 6,000 products.

    Rwanda started trading under AfCFTA with the first shipment of ‘Igere Coffee’, it’s premium coffee, to Ghana in September 2022 under the AfCFTA Guided Trade Initiative. He challenged other, private stakeholders to appreciate the challenges Rwanda went through before it successfully entered the Ghana market.

    It is foreseen that the researches will guide the Rwandan private sector in permeating other markets in Africa supposed to have enormous abilities such as DR Congo and Cote D’ Ivoire.

    “Let’s take advantage of the market of the 1.2 billion people with a combined Gross Domestic Product valued at $3.4 trillion which will be created by AfCFTA” Kajangwe told.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    President William Ruto of Kenya has Urged fellow African Rulers to address on Agribusiness beyond Production to Value Addition and Manufacturing

    Next Story

    $30 Billion has been pledged by the African Development Bank and Development Partners to Finance Food and Farming in the Next Five Years

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    $12 Billion Environment Financing Center - The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World

    Posted On 24 Mar 2023

    President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness

    Posted On 23 Mar 2023

    New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation

    Posted On 21 Mar 2023

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Facebook

    Latest Posts

    $12 Billion Environment Financing Center - The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World

    President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness

    New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation

    Recent Posts

    • $12 Billion Environment Financing Center – The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World
    • President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness
    • New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation
    • South Africa and Stellantis has Greeted a Pact to Develop a Unique Automobile Manufacturing Facility
    • Dr. Akinwumi Adesina AfDB’s President maintains it is time to Develop Youth-Based Wealth to Bolster a Better Comprehensive Nigerian Economy

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.