The Saudi Ports Authority (MAWANI) has announced the launch of a new shipping lane connecting Saudi Arabia with East African countries, to be provided through French giant logistics company and shipping line, CMA CGM. The new ‘JEDDEX’ shipping service will provide a weekly direct service between Saudi Arabia, Somalia and Kenya, with four ships plying the route, each with 1,100 TEU nominal capacity. The new shipping lane will...
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The Kenya Revenue Authority (KRA) has increased the tax on excisable goods in line with the average inflation rate, despite pleas from manufacturers and importers to leave rates unchanged. The KRA’s excise duty inflation adjustment has upped rates by 4.94%, in line with the official annual inflation rate for the 2019/2020 financial year to 30 June 2020. In its official release, the KRA confirmed that the new tariff amounts have taken...
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The Southern African Development Community (SADC) announced on 9 May 2020 that it will be introducing the use of an Electronic Certificate of Origin (eCoO) system within all 16 member nations. The move will streamline the clearing of goods and save time and money for exporters. The SADC includes nearly all African countries south of the equator, including the Republic of South Africa, one of continent’s largest economies. According to...
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The government of Ethiopia has announced a new three-pronged incentive package to assist investors operating in the country’s industrial parks, in order to ease the economic impact of the coronavirus pandemic. As part of the effort to ease the impact of COVID-19 on the investment sector, the Ethiopian government has made available these three major incentives for investors operating inside Industrial Parks. The package was...
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Morocco is building a free trade economic zone in the northern town of Fnideq, near the Spanish-administered enclave city of Ceuta, in a bid to reduce illegal imports. Smuggling through Ceuta has been significant. The value of smuggled goods entering Morocco through the Ceuta border at between US$620 million and US$800 million per year, resulting in substantial losses in unpaid duties. In contrast, Ceuta’s legal exports to Morocco are...
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The East African states of Kenya, Rwanda and Uganda have introduced stricter cargo movement measures aimed at containing the cross-border spread of Covid-19, following a rise in cases attributed to contamination by cross-border truck drivers. In Kenya, the Kenyan Revenue Authority (KRA) mandated all cargo truck drivers and their crew subject themselves to virus screening at border points. Furthermore, the KRA requires that all traders ensure...
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Nigeria has been making steady progress in diversifying its economy away from the oil sector. In light of the Nigerian government’s “Nigeria Vision 20: 2020”, it aims to increase the share of the manufacturing sector in economic output to 15-30% and the services sector to 45-75%, while lowering the shares of agriculture and oil. Aside from providing sources of economic growth, diversification also helps the country reduce...
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Nigeria is a key African market, accounting for almost half of West Africa’s population, and the country boasts one of the largest youth populations in the world. The country also has an abundance of natural resources, with vast oil and gas reserves, and significant agricultural potential. Nigeria is a member of the Organization of the Petroleum Exporting Countries (OPEC) since 1971. Nigeria ranks as the largest oil...
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Home to a small population of less than one million, Djibouti is one of the smallest countries in East Africa, strategically located at the mouth of the Red Sea. With few natural resources and little industrial activities, Djibouti’s economy depends heavily on logistics services and trade through its international port. In a bid to transform itself into a commercial trading hub for the broader region, the country has...
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With the Belt and Road Initiative poised to transform market access across Asia, potential partnerships with African companies are opening as they seek to target Asian consumers. In particular, many South African halal food producers have high hopes that Hong Kong could prove the ideal gateway for boosting their exports across the region. By 2030, the global Muslim population is estimated to number some 2.2 billion, representing about a...
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