East African Business Council
  • Menu Canvas
    • HOME
    • ABOUT
      • WHO WE ARE
      • OUR TEAM
        • BOARD MEMBERS
        • MANAGEMENT
      • ORGANISATION STRUCTURE
      • PUBLIC PRIVATE DIALOGUE
      • SECTORIAL DESKS
      • OUR PARTNERS
    • MEDIA
      • NEWSROOM
      • EVENTS
      • PRESS RELEASE
      • PHOTO GALLERY
    • MEMBERSHIP
      • CATEGORIES
      • BENEFITS
      • JOIN US
      • OUR MEMBERS
        • ELITE MEMBERS
        • OTHER MEMBERS
    • RESOURCES
      • POLICY ADVOCACY
      • PUBLICATIONS
      • REPORTS
      • WEBINARS
      • DOWNLOADS
    • OPPORTUNITIES
      • VACANCIES
      • TENDERS
    • CONTACT US
    • COVID19
    • SEARCH
  • COVID-19COVID - 19
  •  |  Submit Policy Issues
  • director@eabc-online.com
  • +255 27 2520163
  • Burundi
  • DRC
  • Kenya
  • Rwanda
  • South Sudan
  • Tanzania
  • Uganda
 
East African Business Council
  • HOME
  • ABOUT
    • WHO WE ARE
    • OUR TEAM
      • BOARD MEMBERS
      • MANAGEMENT
    • ORGANISATION STRUCTURE
    • PUBLIC PRIVATE DIALOGUE
    • SECTORIAL DESKS
    • OUR PARTNERS
  • MEDIA
    • NEWSROOM
    • EVENTS
    • PRESS RELEASE
    • PHOTO GALLERY
  • MEMBERSHIP
    • CATEGORIES
    • BENEFITS
    • JOIN US
    • OUR MEMBERS
      • ELITE MEMBERS
      • OTHER MEMBERS
  • RESOURCES
    • POLICY ADVOCACY
    • PUBLICATIONS
    • REPORTS
    • WEBINARS
    • DOWNLOADS
  • OPPORTUNITIES
    • VACANCIES
    • TENDERS
  • CONTACT US
  • COVID19
  • SEARCH

AfCFTA TO BOOST INCOME FOR EAST AFRICANS

EABC
February 28, 2023
Highlights, News

Friday, 24th February 2023, Nairobi, Kenya: – Mr. John Bosco Kalisa explained the implementation of the African Continental Free Trade Area (AfCFTA) is projected to increase real income for EAC countries, following the reduction in trade costs relating to Trade Facilitation, Non-Tariff Measures (NTMs) and Non-Tariff Barrie’s (NTBs).

The e real income is projected to increase between 2021-2035 as follows: Kenya (11.8%); Tanzania (10%); Uganda (3.8%); Rwanda (3.6%) (World Bank).

This was elaborated by EABC CEO Mr. John Bosco during the East African Business Council (EABC) GIZ- Support to East African Market-Driven and People-Centered Integration Programme (SEAMPEC) II  2-day Private Sector Sensitization Workshop on African Continental Free Trade Area (AfCFTA) Agreement on Trade in Goods Protocol taking place in Nairobi, Kenya.

The KEPSA Deputy CEO Mr. Victor Ogola said that non-tariff barriers are derailing the realization of the AfCFTA pact. He said, “Building Africa into a continental village needs the understanding of the characteristics of a village and that this should start from a political level.”

He expounded Kenya has exported batteries and Tea to Ghana under the AfCFTA Guided Trade Initiative and plans are underway to export electric cables and automobile parts too.

EABC Board Director Mr. Mucai Kunyiha, urged the Kenyan private sector to take a proactive role by trading under the AfCFTA.

Mr. Kunyiha said, the AfCFTA Agreement is a clear testimony that the African States have committed to doing more trade and investment among themselves by creating a market of 1.3 billion people with a combined gross domestic product (GDP) valued at USD 3.4 trillion.

On his part, EABC Goodwill Ambassador on Transport and Logistics, Mr. Auni Bhaiji said, the Implementation of AFCFTA is projected to increase Intra-African trade significantly, especially in manufacturing. For example, the share of intra-AfCFTA exports to total global exports will increase as follows: Tanzania (28%); Uganda (29%); Rwanda (33%) and Kenya (43%).

The private sector workshop on AfCFTA convened 55 businesses in Kenya who learned about AfCFTA Trade in Goods Protocol and its annexes (especially Rules of Origin, Tariff Concession and Non-Tariff Barriers) and implications to businesses in the EAC bloc.

Other industry leaders who officiated the workshop include; KAM Head of Policy Research & Advocacy Mr.   Job Wanjohi and KEPROBA Acting CEO Ms. Floice Mukabana.

The AfCFTA Agreement envisages boosting intra-African trade through the gradual elimination of tariffs on over 90 African goods and the removal of non-tariff barriers and trade restrictions on goods and services, respectively.

The EAC exports of goods to Africa stood at USD 7.9 billion composing 42% share of EAC total exports of goods to the world (USD 18.7 billion). Top EAC exports to Africa included precious stones, coffee, tea, cement, animal fats, mineral oils & iron and steel. 

East Africa as a bloc has great potential to export vegetables, tea, rice, coffee, sugar, textile products, soap, sesame seeds, edible oils, tubers and milk to the continent.

The workshop was moderated by Mr. Adrian Njau and facilitated by Prof. Seth Gor,  Mr. Walter Kamau, Mr. Abel Kamau, and Brian Kalekye.

Previous Story
TANZANIA READY TO TRADE UNDER AfCFTA GUIDED TRADE INITIATIVE
Next Story
2ND AFRICAN BUSINESS WOMEN AND YOUTH TRADE FAIR AND SUMMIT KICKS OFF IN ARUSHA

EABC ON TWITTER

Tweets by EABCjumuiya

EABC YOUTUBE CHANEL



MOST POPULAR

  • 35% MAXIMUM COMMON EXTERNAL TARIFF RATE SET TO BOOST INTRA-EAC TRADE BY USD 18.9 MILLION
  • EAC PRIVATE SECTOR EXPECTATIONS FOR THE UPCOMING HEADS OF STATE SUMMIT
  • EABC CONGRATULATES THE PRESIDENT OF THE UNITED REPUBLIC OF TANZANIA, HER EXCELLENCY SAMIA SULUHU HASSAN
  • East African Community set to support tourism sector through the EAC Tourism Recovery Plan
  • INTRA-EAC TRADE DROP BY 5.5% IN 2020 DUE TO COVID-19

UPCOMING EVENTS

  1. CEO RoundTable on UN International Day of Zero Waste

    March 29 @ 8:00 am - March 30 @ 5:00 pm UTC+3

View All Events

REPORTS

  • UGANDA READY TO TRADE UNDER AfCFTA GUIDED TRADE INITIATIVE
  • EABC VICE CHAIRMAN PRESENTS PRIVATE SECTOR CONTINENTAL PRIORITIES TO AFCFTA SECRETARY GENERAL, H.E WAMKELE MENE
  • EABC APPLAUDS PRESIDENT SAMIA SULUHU HASSAN FOR DONATING AND HANDING OVER LAND TO EAST AFRICAN BUSINESS COUNCIL
  • 2ND AFRICAN BUSINESS WOMEN AND YOUTH TRADE FAIR AND SUMMIT KICKS OFF IN ARUSHA

CONTACT INFO

  •   East African Business Council
          Ninth Floor, Mafao House
          Old Moshi Road.
          P.O. BOX 2617
          Arusha ,Tanzania

  •   director@eabc-online.com or       admin@eabc-online.com

  •   +255 27 2520162 or
           +255 27 2520163

QUICK GUIDE

  • Studying in the EAC
  • Working in the EAC
  • Investing in the EAC
  • Travelling within East Africa
  • EAC Reports Database
  • Overview of the EAC
  • Key Documents

USEFUL LINKS

  • Federal Chamber of Commerce & Industry, Burundi (CFCIB)
  • Kenya Private Sector Alliance (KEPSA)
  • Private Sector Federation Rwanda (PSF)
  • Private Sector Foundation Uganda (PSFU)
  • South Sudan Chamber of Commerce, Industry & Agriculture (SSCCIA)
  • Tanzania Private Sector Foundation (TPSF)

EXCHANGE RATE

CurrencyRate

LET'S CONNECT

  • Contacts
  • Privacy Policy
  • Cookies Policy
  • Send Us Feedback


East African Business Council ©2023. All Rights Reserved
en English
en Englishfr Frenchsw Swahili
Search

WhatsApp us