Tag Archives: cross-border trade

cross-border trade: Latest News

  • Why Is East Africa A Global Leader In Mobile Remittances?

    East Africa a global leader in mobile remittances By Tom Jackson, 9:58 pm AFKI Original

    TerraPay is the latest mobile payments platform to enter the crowded East African market with its launch in Tanzania. The challenge for the market lies in navigating regulatory hurdles from one country to the next, an expert said. Interoperability has the potential to unlock intra-African mobile remittances and could be key to promoting cross-border trade. It is expected to overcome challenges to scale and facilitate micro-transfers across borders, a common theme for Africa’s low-income population. Expect to see some consolidation in the market.

  • East African Community Members Want To Remove All Non-Tariff Barriers To Trade

    By Godfrey Olukya, 10:26 am AFKI Original

    Rwandan trader Pierre Ndimwibo exports raw materials and imports electronic devices. Eliminating barriers like roadblocks and weigh stations will help his profits and grow his business, he said. East African Community members agreed on Jan. 14 to no new non-tariff barriers. Now they want all non-tariff barriers removed. It will save up to 20% of the time it take to import and export goods. Cross-border traders are all for it — if it ever actually happens.

  • East Africa Wants To Phase Out The US Dollar As Cross-Border Trade Currency

    US dollar as cross-border trade currency By Dana Sanchez, 11:31 am

    Traders in East Africa have to convert local currencies to the U.S. dollar before making transactions, then convert the currency back to their national currency. In the process, they pay exchange-related costs at least twice at a time when African economies are struggling with U.S. dollar shortages. About 43 percent of Africans are involved in some form of informal cross-border trade, with women representing the lion’s share – around 75 percent.

  • Opinion: Nigeria And South Africa Must Get The Relationship Right

    By Staff, 3:43 pm

    The world deliberated on Africa’s economic future — mostly through the lens of Nigeria and South Africa — at the WEF Africa 2015 although Nigeria’s new leaders were absent. Cross-border trade between them accounts for just 1 percent of their combined economic value. This suggests a low degree of economic openness and interaction. Success stories like MTN and Multichoice show how heavily invested both countries can be if the relationship is right.

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