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Old October 27th, 2014, 02:56 PM   #61
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House Committee Approves East African Common Currency
Asoko Insight
27 October 2014


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A key parliamentary committee has endorsed the protocol laying the foundation for a monetary union that will see the five East African countries converge their currencies and increase commerce.

The Committee on Regional Integration last week permitted the protocol, which was signed last year by the leaders of the five countries, and is asking Parliament to endorse the monetary union—which is expected to be in place within nine years.

“It is convinced that the protocol for the establishment of the EAC Monetary Union will be beneficial to individual member States of the East African Community and therefore recommends that the House ratifies the protocol,” said the committee in an advice to MPs.

The protocol allows Kenya, Uganda, Tanzania, Rwanda and Burundi to gradually converge their currencies and increase commerce.

[continued in link]
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Old October 27th, 2014, 02:58 PM   #62
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One-ATM card good for East African Community
The Monitor
27 October 2014


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The plan adds value to bank customers, gets them on the same network of banks and ATMs access and POS. This will also make ATM services more accessible, and enable clients do business more efficiently, even in areas where a client’s local or regional bank has no branch or shared banking services.

The plan by Interswitch to have bank customers all on same ATM network in East Africa by December 2014 offers good choices.

And regional central banks should support this call, lower exchange rates and make money transfers more affordable.
This design by Interswitch to network different banks and enable customers share Automated Teller Machines (ATMs) and Points of Sale (POS) services, is good for brisk money transfers.

The plan adds value to bank customers, gets them on the same network of banks and ATMs access and POS. This will also make ATM services more accessible, and enable clients do business more efficiently, even in areas where a client’s local or regional bank has no branch or shared banking services. Better still, Interswitch bank customers would no longer have to carry any special debit card or run a foreign currency account.

[continued in link]
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Old October 27th, 2014, 03:04 PM   #63
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EAC, Comesa and SADC to launch free trade zone
in2 East Africa
27 October 2014






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Ministers from the regional blocs of East African Community (EAC), the Common Market for Eastern and Southern Africa (Comesa) and the Southern African Development Community (SADC) have agreed to launch a tripartite Free Trade Area (FTA) as a way of contributing to economic growth of the blocs and the entire continent in general.

The decision was reached during the Tripartite Sectoral Committee of Ministers that concluded on Saturday in Bujumbura, Burundi.

The meeting agreed that the tripartite summit of Heads of State and Government, slated for December in Cairo, Egypt, would launch the Tripartite Free Trade Area (FTA), according to a statement released after the meeting.

The tripartite FTA will encompass 26 member states from the three blocs with a combined population of 625 million people and a Gross Domestic Product (GDP) of $1.2 trillion and will account for half of the membership of the African Union and 58 per cent of the continent’s GDP, the statement says.

[continued in link]
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Old October 30th, 2014, 02:41 PM   #64
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Uganda's NSSF apparently has the largest balance sheet in East Africa. Somewhat a pointer to how seriously NSSF-Kenya has been plundered over the years.

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This comes a day after NSSF announced a growth in its balance sheet from Shs4 trillion to Shs4.4 trillion, outstripping workers funds for Kenya which stands at Shs4.2 trillion ($1.6 billion) and Tanzania Shs3.5 trillion ($1.3b).
Full article -> http://www.monitor.co.ug/News/Nation...z/-/index.html
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Old October 30th, 2014, 11:22 PM   #65
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East Africa Business Summit 2014
NTV Kenya
Published on Oct 29, 2014




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The 2014 Summit was the sixth summit of its kind and had the theme "Positioning East Africa for Inclusive Prosperity in 2020 and beyond."

For more news visit http://www.ntv.co.ke
Follow us on Twitter http://www.twitter.com/ntvkenya
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Old October 31st, 2014, 04:46 AM   #66
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Originally Posted by Combobulate View Post
Uganda's NSSF apparently has the largest balance sheet in East Africa. Somewhat a pointer to how seriously NSSF-Kenya has been plundered over the years.



Full article -> http://www.monitor.co.ug/News/Nation...z/-/index.html
it may also mean workers there contribute more either because its mandatory or because its the only trusted retirement benefits fund. In Kenya due to distrust with NSSF, people channel their non mandatory retirement benefits savings towards private funds and as a result Pinebridge is bigger than NSSF. I bet if you look at the total size of all Ug. retirement benefit funds and those of ke. Kenya would be ahead.
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Old October 31st, 2014, 05:10 AM   #67
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That's correct. Kenya should be at about $8B, Tanzania $3B, Uganda same or less than that and Rwanda at about $0.5B.

But doesn't take away from the plunder and mismanagement of NSSF. Interestingly, part of the reason for the growth of NSSF-Uganda's balance sheet is its investment in Kenya's Safaricom. NSSF-Uganda should be its tenth largest shareholder and benefited when the share price shot up.

From their dealings, I get the general impression that NSSF-UG, NSSF-TZ and Rwanda's RSSB are slightly better run than Kenya's. And probably goes back to your point i.e. the Kenyan public saw the horrific scandals and, except for the minimal mandatory contribution, fled to private funds.
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Old November 6th, 2014, 01:45 PM   #68
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Old November 6th, 2014, 07:52 PM   #69
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Tanzania to join single tourist visa pact

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Tanzania will soon join Kenya, Uganda and Rwanda in implementing the single-entry tourist visa as part of efforts to boost tourism in the region.

Tanzanian Natural Resources and Tourism minister Lazaro Nyalandu attributed his country's delay in agreeing to the visa pact to issues related to lack of identity cards by Tanzanian citizens.

He denied accusations that Tanzania was a stumbling block to the single-entry tourist visa launched last year.

"Tanzania was unable to implement the single tourist visa since our citizens didn't have IDs, whereas Kenyans have for a long time been having the IDs," he said.

"We are almost concluding the issuance of IDs to all Tanzanians and we will soon join other East African member states in implementing the single tourist visa initiative," he added.

On the other hand, Mr Nyalandu said Tanzania had joined forces with Kenya on the war against poaching within the Serengeti-Mara ecosystem to contain the killing of elephants by poachers.
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Old November 10th, 2014, 12:10 AM   #70
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TradeMark East Africa CEO Richard Matsaert on EAC-TMEA projects
Parallel Media | 4 November 2014



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Old November 10th, 2014, 12:11 AM   #71
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EAC to set up common Internet Exchange Point
Business Daily Africa | 5 November 2014



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Old November 10th, 2014, 12:14 AM   #72
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EAC At World Travel Market in London
East African Community
6 November 2014


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The East African Community is show-casing the region's tourism potential and marketing the five Partner States as a Single Tourist Destination at the ongoing World Travel Market in London, United Kingdom.

The five Partner States are being lead by Chairperson of the EAC Council of Ministers, Hon. Phyllis Kandie, who is also Kenya's Cabinet Secretary, Ministry of East African Affairs, Commerce and Tourism, while Hon. Jesca Eriyo, the EAC Deputy Secretary General (Productive and Social Sectors) is heading the team from the EAC Secretariat.

At the joint marketing event held at the Kenya Stand 5 November, 2014, the Chairperson of the Council made a statement on the strategies that are being implemented nationally and regionally on the Ebola virus. She said East African Governments had prepared a robust Ebola Emergency Preparedness and Response plans that meet the World Health Organization standards, comply with the International Health Regulations- Emergency Committee and AU Decisions on Travel and Trade Restrictions.

[continued in link]
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Old November 10th, 2014, 12:18 AM   #73
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AfDB and EAC Sign $2.6m Grant Agreement for Central Corridor
Star Times
7 November 2014


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The African Development Bank (ADB) and the EAC have signed a Letter of Agreement, under the NEPAD-Infrastructure Project Preparation Facility, in which a Grant of US$2,685,215 will be availed to the EAC to finance Feasibility Studies and Design of the Rehabilitation of Selected Road Sections of the Central Corridor in Tanzania, Rwanda and Burundi.

Ms. Tonia Kandiero, the African Development Bank's Resident Representative, Tanzania Country Office initialled the Letter of Agreement on behalf of the Bank, while the Secretary General of the East African Community, Amb. Dr. Richard Sezibera endorsed on behalf of the East African Community on 3 November at the EAC Headquarters in Arusha, Tanzania.

The Grant will finance consultancy services related to undertaking feasibility studies, detailed engineering designs, environmental and social impact assessment, and preparartion of bidding documents for the rehabilitation of the road sections joining Rusumo to Lusahunga and Nyakanazi to Manyovu via Kasulu in Tanzania; Kayonza to Kigali in Rwanda; and Rumonge to Bujumbura via Rutunga in Burundi.
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Old November 10th, 2014, 12:20 AM   #74
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Tanzania festival gives boost to East Africa integration
Newstime Africa
8 November 2014


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Tanzania’s resort city of Arusha is currently hosting a cultural festival that organizers hope will serve as a platform for East Africans to pursue the ultimate goal of full regional integration.

“The Zinduka festival aims at creating a chance for East African communities to meet, have dialogue and say exactly what they want for their integration,” Kepta Ombati, the head of the festival’s organizing committee, told Anadolu Agency.

Held in Arusha, the seat of the East African Community (EAC), the three-day festival that opened Thursday aims to promote the free movement of people and the establishment of a free trade zone within the region, Ombati said.

The EAC – a regional bloc grouping Burundi, Kenya, Rwanda, Tanzania and Uganda – seeks to widen economic, political and social integration in order to improve the quality of life of East Africans.

The region has an estimated population of 130 million – some 60 percent of which are young people, according to data issued by the Inter-University Council for East Africa, the EAC and the East Africa Business Council.

Mainly targeting local communities, then Zinduka festival provides free admission to all EAC citizens from the bloc’s five member states.

[continued in link]
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Old November 10th, 2014, 12:24 AM   #75
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Kenya wins maiden EAC golf tournament at Entebbe
New Times
8 November 2014


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Kenya’s captain Nelson Simwa returned 286 gross over four rounds to lead his side to the inaugural East African Community Golf Shield at Entebbe Club on Saturday.

The three-day score also helped him win the Entebbe Open, beating Uganda’s Willy Kitata (287 gross) by a stroke.

Despite producing the best score on the last day (66 gross), Kitata was let down by his opening two rounds from which he grossed 149 with the Kenyan getting 145.

Alfred Nandwa, another Kenyan, was third with 291 gross while Jinja-based Opio Onito had earlier won the professionals category after returning 149 gross over 18 holes.

[continued in link]
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Old November 10th, 2014, 10:38 AM   #76
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Lawyers set to take on cross-border tasks in EAC
Daily Nation
9 November 2014


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Lawyers within East Africa will soon start practising across borders without restrictions.

Law societies in the region have already drafted an agreement to this effect, which is awaiting approval at their annual meeting in Kigali, Rwanda this week, East African Law Society President (EALS) James Mwamu said.

The Mutual Recognition Agreement for Advocates (MRA) in the East African Community (EAC) will see the countries agree on the same qualifications for legal practitioners.

Mr Mwamu said it took them over 10 years to come up with an agreement that could soon become a guide to legal practice in the region.

[continued in link]
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Old November 15th, 2014, 08:23 AM   #77
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Does anyone know what prompted the Rwanda spike back in 2007?
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Old November 15th, 2014, 01:36 PM   #78
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Interesting, only increases from the small countries Rwa and Bur
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Old November 16th, 2014, 02:55 PM   #79
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i doubt the reality of this graph.. because nakumatt and uchumi are all over tanzania major cities and also tanzanian cereals and products are exported to kenya everyday..any given year maybe 2 million people cross each border to trade in each others country..
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Old November 17th, 2014, 01:31 AM   #80
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All coinciding with the rise in trade with China though.
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