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
      • WEBINAR RECORDINGS
      • DOWNLOADS
    • OPPORTUNITIES
      • VACANCIES
      • TENDERS
    • CONTACT US
    • COVID19
    • SEARCH
  • COVID-19COVID - 19
  •  |  Submit Policy Issues
  • director@eabc-online.com
  • +255 27 2520163
  • Burundi
  • 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
    • WEBINAR RECORDINGS
    • DOWNLOADS
  • OPPORTUNITIES
    • VACANCIES
    • TENDERS
  • CONTACT US
  • COVID19
  • SEARCH

EABC –PSFU – AFREXIMBANK LAUNCH AFRICA CUSTOMER DUE DILIGENCE PLATFORM –MANSA

Homepage Highlights EABC –PSFU – AFREXIMBANK LAUNCH AFRICA CUSTOMER DUE DILIGENCE PLATFORM –MANSA

EABC –PSFU – AFREXIMBANK LAUNCH AFRICA CUSTOMER DUE DILIGENCE PLATFORM –MANSA

EABC
October 20, 2021
Highlights, News

Wednesday, 20th October 2021 Kampala, Uganda: Wednesday, 20th October 2021 Kampala, Uganda: Mr. Simon Kaheru, EABC Vice-Chair, Mrs. Maureen Mba, Head Mansa Business, Afreximbank and Mr. Kudakwashe Matereke, COO of Afreximbank East Africa joined by Mr. John Bosco Kalisa, CEO East African Business Council (EABC), Mr. Francis Kisirinya, Executive Director Private Sector Foundation Uganda (PSFU) and Dr. Maggie Kigozi, Chair Women in Business Uganda officially launched the African Due Diligence Platform in Uganda.

Speaking during the ceremony Mr. Kaheru said “Let’s live to the aspirations of Mansa Musa and thanks to Afreximbank African businesses have the opportunity to conduct due diligence and trade with much more ease via the Mansa Digital Platform.”

Mr. Kaheru said to conduct trade across African borders you have to Know Your Customer. He applauded the MANSA platform for unlocking and activating trading under the Africa Continental Free Trade Area. He said East African industries can only survive by tapping into the larger continental market.

In 2020 Africa composed  34% of Uganda’s exports. Uganda’s  Intra-Africa exports amounted to USD1.4 billion in 2020 a 7.7% increase from 2019. Uganda’sIntra-Africa imports amounted to USD.2.8billion in 2020 – a 40% increase compared to 2019. Uganda can realize additional exports worth USD. 73 million to Africa from top products such as sugar, coffee, dairy, cement, palm oil, tea, beans, grain, soaps maize (international trade Centre).

On his part, Mr. Kudakwashe Matereke, Regional COO Afreximbank East Africa Branch Office said “the Mansa platform promotes trade among corporates and SMEs driving the Agenda 2063 – the Africa We Want”

Mr. Matereke said the AfCFTA stimulates intra-Africa trade and advances economic integration.

He stated that the AfCFTA is set to revolutionalize trade, reduce the continent’s reliance on the export of raw materials and reshape markets and boost continental GDP to USD. USD450 billion.

Mr. Kalisa EABC CEO said, “EABC is the first institution to roll out the African Due Diligence Platform –MANSA and will roll out the platform to all EAC Partner States.”

He stated that Word Bank research shows that the removal compliance cost and NTBs in Africa will result in USD.300 billion boosts in income.

Mr. Kalisa urged the EAC bloc to promote industrialization, value addition and build productive capacities to tap into the continental Market.

Mr. Kisirinya said “the beginning point of trading is establishing  TRUST between buyers and sellers, financiers and borrowers, the public and private sectors. “

On her part, Ms. Maureen Mba, Head Mansa Business, Afreximbank said “Mansa digital platform is a game-changer for intra-Africa trade and will transform trade in Africa as it embodies transparency and good governance.

In his presentation on AfCFTA market opportunities, Mr. Adrian Njau, EABC Policy Expert said AfCFTA is set to generate additional 2 million jobs, grow regional value chains and expand the EAC economy by 0.7 %.

He said the high cost of trade, overlapping membership of regional economic communities and low level of digitalization are among the challenges to the AfCFTA.

Dr. Isaac Shinyekwa from Economic Policy Research Centre said on Rules of Origin  86.9 % tariff lines (products) have been negotiated and agreed while 13.1% are still outstanding under the AfCFTA.

The launch was attended by over 100 business captains including Mr. Lino Criel, Secretary-General Uganda Clearing Industries and Forwarders Association (UCIFA), Mr. Mwine Jim Kabeho, EABC Chairman Emeritus, Thaddeus Musoke, Chairman Kampala Capital City Traders’ Association (KACITA) and leaders of Uganda Law Society among others.

The MANSA digital platform provides a single primary source of Know-Your-Customer (KYC) data required to conduct customer diligence checks on counterparties in Africa with a special focus on African Corporates, SMEs and financial institutions. The MANSA digital platform reduces risks to intra-African trade such as increased financial crime and reduces the high-cost acquisition of Customer Due Diligence.

For more information visit:https://www.mansaafrica.com

Issued by:

Mr. John Bosco Kalisa Executive Director /Chief Executive Officer

East African Business Council (EABC)

9th Floor Mafao House | Old Moshi Road | Arusha | Tanzania

P. O. Box 2617 | Tel: +255 27 2520162 

Email:  admin@eabc-online.com I Website: eabc.info

EABC – The Voice of the Private Sector in East Africa

About East African Business Council: The East African Business Council (EABC) is the regional apex body of private sector associations and Corporates from the 6 East African countries. It was established in 1997 to foster the interests of the private sector in the integration process of the East African Community. EABC vision is a borderless East Africa for business and investment. The primary mission is to promote sustainable private sector-driven growth in the EAC.

Previous Story
EABC – AFREXIMBANK -PSFU JOIN FORCES TO OPEN AFRICAN MARKET
Next Story
EAC BLOC URGED TO BOOST EXPORT PRODUCTIVE CAPACITY

EABC ON TWITTER

Tweets by EABCjumuiya

EABC YOUTUBE CHANEL



MOST POPULAR

  • ACADEMIC PUBLIC-PRIVATE PARTNERSHIP FORUM CALLS FOR MORE FUNDING FOR INNOVATORS IN AFRICA
  • HIGHLIGHTS OF 2020/21 EAC PARTNER STATES BUDGETS
  • EABC URGES SOUTH SUDAN TO STOP CHARGING EAST AFRICANS VISA ENTRY FEES & EMBRACE USE OF NATIONAL IDS WHILE TRAVELLING
  • EABC and MSTCDC Partnership on Youth in Business Increases EAC Trade
  • EABC Calls for Deeper Collaboration between the Public and Private Sector amid Global Economic Disruptions

UPCOMING EVENTS

  1. Commonwealth Business Forum 2022

    June 21 @ 8:00 am - June 23 @ 5:00 pm UTC+3

View All Events

REPORTS

  • HARMONIZE DOMESTIC TAXES TO ATTRACT INVESTMENTS IN THE EAC BLOC
  • GOVERNMENT OF SOUTH KIVU COMMITS TO IMPROVING THE BUSINESS CLIMATE
  • DRC EXPORTS TO EAC HIT USD.49.2 MILLION IN 2020
  • Impact of COVID-19 on Tourism – Interview with Tanzania Association of Tour Operators

CONTACT INFO

    East African Business Council - EABC
  •   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

LET'S CONNECT

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


East African Business Council ©2020. All Rights Reserved
en English
en Englishfr Frenchsw Swahili
Search