Visa waiver deal set to increase trade between Kenya and Rwanda

Visa waiver deal set to increase trade between Kenya and Rwanda

Visa waiver deal set to increase trade between Kenya and Rwanda

The risk of business people failing to travel thanks to visa difficulties is slowly diminishing across Africa, as certain countries relax their rules. Kenya and Mozambique have just signed a visa waiver framework, paving the way for free movement of people that will boost trade between the two countries. Kenya’s President Uhuru Kenyatta said the visa waiver arrangement will boost…

African states urged to ratify AfCTA agreement and boost trade

African states urged to ratify AfCTA agreement and boost trade

African states urged to ratify AfCTA agreement and boost trade

The African Continental Free Trade Area (AfCFTA) could boost regional trade and industrialisation, especially in east Africa, but more countries need to sign up to the deal. Andrew Mold, acting director of the Economic Commision for Africa (ECA) in eastern Africa, said: “Currently, east African countries are trading amongst themselves at only half their potential and the growing local demand…

Africa poised for economic boom: McKinsey

Africa poised for economic boom: McKinsey

Africa poised for economic boom: McKinsey

McKinsey has suggested Africa is poised for economic acceleration, akin to the Asian boom. While other geographies are seeing incremental growth, global companies that get in early and join the African champions shaping the right strategies can sustain double-digit profit growth during the next few decades. In its report, Africa’s Business Revolution: How to Succeed in the World’s Next Big…

COMESA and EU sign trade pact

COMESA and EU sign trade pact

COMESA and EU sign trade pact

The Common Market for East and Southern Africa (COMESA) and the European Union have signed a €53m trade facilitation deal. The funds will be used to implement the COMESA Trade Facilitation Programme, which aims at increasing intra-regional trade flows of goods, persons and services by reducing the costs and delays of imports and exports at specific border posts. It will…

Global tensions set to impact South Africa’s recovery

Global tensions set to impact South Africa’s recovery

Global tensions set to impact South Africa’s recovery

South Africa’s economic recovery plans face serious constraints, with the growing debt of state firms domestically and capital outflows as a result of global trade tensions, warned the International Monetary Fund (IMF). In October, the global lender said it saw Africa’s most industrialised economy expanding by 0.8% in 2018, down from a prior forecast of 1.5%. South Africa’s Treasury predicts…

Managing tourism risk key to South Africa’s economic success

Managing tourism risk key to South Africa’s economic success

Managing tourism risk key to South Africa’s economic success

The urgent amendment of South Africa’s stifling visa regime could be the quick fix needed to drag the country out of the economic doldrums, especially now that so-called ‘tourism terminator’ Malusi Gigaba has resigned as the minister of home affairs and a member of parliament. Cannon Asset Managers Investment analyst Tlotliso Phakisi suggested: “Introduced under Mr Gigaba’s leadership, the tourism…

Top class – risk winners 2018

Top class – risk winners 2018

Top class – risk winners 2018

Phumlani Dyini has won the Institute of Risk Management South Africa’s (IRMSA) coveted Risk Manager of the Year award 2018. Mr Dyini is head: enterprise risk management and compliance, at Woolworths Holdings Group. In winning the title, his work in making business sense of risk appetite has been a major achievement. This framework is under review with CEB Gartner as…

Cyber tops risk ranking in Europe and North America: WEF report

Cyber tops risk ranking in Europe and North America: WEF report

Cyber tops risk ranking in Europe and North America: WEF report

Cyber security is the top threat facing European businesses in 2018, followed by asset bubble and failure of national governance, according to a new report and survey from the World Economic Forum (WEF). Globally, cyberattack recorded a rise from eighth position to fifth place in 2018, but of the 19 countries where businesses ranked cyberattack as their number one risk over the next 10 years, 12 were in Europe…

AfBD signs trade facilitation deal

AfBD signs trade facilitation deal

AfBD signs trade facilitation deal

The African Development Bank Group (AfDB) has approved a $50m risk participation agreement (RPA) for banking group Natixis, to facilitate foreign trade deals out of Africa. This risk-sharing programme (50/50), which is able to cover a portfolio of transactions up to $100m, comes in support of some $600m (cumulative value) of commercial operations out of the $100m in coming years.…