Allianz SE chief economist Ludovic Subran forecasted economic growth in Kenya, Tanzania, Uganda and Rwanda to significantly rebound after a tough year due to the devastating effects of Covid-19.
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He said the speed of the economic recovery process from the pandemic will depend on collective responsibility and the financial capacity of developing countries to address immediate shocks, stabilize their economies, and invest in growing back.
Kenya Airways and Air France-KLM Group said on Saturday that they had agreed to mutually terminate their Africa-Europe joint venture partnership from September, 2021. Allan Kilavuka,…
Mauritius’ main exports markets have been severly impacted by the coronavirus (COVID-19) pandemic, decreasing 19 per cent in the first three quarters of 2020. Soomilduth Bholah,…
The region has been implementing an exemption and remission scheme since the East African Community Customs Union was established in 2005.
Both Presidents committed to boosting trade between the two countries by reducing trade barriers, jointly funding projects, and allocating more resources for infrastructure projects to ensure the seamless flow of people and cargo between their two countries.
Somalia has suspended visa-on-arrival for Kenyans, citing the need to curb the spread of the COVID-19 virus as one of the reasons for the directive. This…
Regionally, last week, Uganda Airlines announced resumption of direct flights from Uganda to Mombasa. The flights, which resumed on December 4, have also lifted prospects of business between the two countries. The flights are scheduled for three frequencies weekly, on Tuesday, Friday, and Sunday.
The loan is Rwanda’s first one through the International Finance Corporation’s global $8 billion Covid-19 facility launched in March 2020 to help businesses maintain operations during and after the coronavirus pandemic.
Kenya’s National Treasury Cabinet Secretary Ukur Yatani on Friday issued a statement saying the corporate tax rate also reverts to 30 percent from 25 percent while the value added tax (VAT) reverts to 16 percent from 14 per cent.