Tag Archives: imports
imports: Latest News
Staff, 5:48 pm
Ghana will apply technology to cut down the huge foreign exchange spent on the cost of food importation, the country’s Minister for Food and Agriculture said. Ghana spent a total of $2.2 billion to import cereals consumed locally in 2016 as compared to $345 million in 2007. He said the government will engage small farmers and support them with relevant technology to enhance agricultural productivity. The strategy is to transform agriculture by introducing new technology to small-scale farmers.
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.
Dana Sanchez, 10:03 am
New deals and commitments worth more than $9 billion in trade and investment with Africa will be announced at the U.S-Africa Business Forum underway in New York, U.S. President Barack Obama said. Obama also announced a new report coming out today exploring the future beyond AGOA — the African Growth and Opportunity Act. AGOA — that will include “more enduring and reciprocal” trade agreements. “This is a U.S.-Africa business forum. This is not charity,” Obama said.
Staff, 12:38 pm
Most foreigners applying for business visas to South Africa simply give up in frustration, says immigration lawyer Gary Eisenberg. South Africa emerged from isolation, only to erect the same barriers to trade and capital that restricted the economy pre-1994, he says. The country has become uncompetitive due to corruption, an ineffective judicial process, bureaucratic inefficiency and compromised rule of law.
Dana Sanchez, 9:12 pm
Mozambique has banned the export of whole logs outright from 2017, regardless of the species, in an effort to encourage local processing. China, the biggest importer of logs in the world, has been the driving force behind Mozambique’s illegal logging boom. Falling demand from China for timber exports has provided an opportunity for reform in Mozambique. The problem is, China wants the wood in raw form. There’s little incentive to invest in manufacturing in Mozambique.
Dana Sanchez, 1:13 pm
South African bone-in chicken imports are having a devastating impact on local producers, stakeholders say. But don’t be so quick to blame the U.S. or AGOA. SA’s poultry imports from the European Union rose dramatically in 2016 while U.S. bone-in chicken imports have been far below expectations. The SA Poultry Association is challenging the AGOA agreement on the grounds that it lowers health safety standards for imported U.S. chicken while all other countries must comply with higher standards.
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.
Staff, 10:48 pm
In Zimbabwe, the informal sector is the economy. It cannot be ignored or wished away. It is what the 90 percent live on, but we know little about it, and policies often upset and disrupt, rather than support it. Romanticising the informal is not the solution. Living in the informal sphere is tough. Rather than imagining the informal economy as outside and needing to be brought in, it has to be thought of as central to development.
Dana Sanchez, 1:24 pm
Charities like Goodwill sell or give away used clothes donated by millions of U.S. citizens. Many end up in sub-Saharan Africa. Secondhand clothing imports have “completely killed the textile industry” in developing countries, a Rwandan official says. You wouldn’t know it at Chinese-owned C&H Garments, one of the busiest factories in Rwanda’s economic zone. C&H exports new clothes to Europe and the U.S. The EAC agreed to ban used clothing imports by 2019. Ordinary Rwandans worry local manufacturers won’t be able to supply cheap clothes.
Dana Sanchez, 9:02 am
Zimbabwe has had several national shutdowns since 2000. This one is different. It wasn’t called by any one opposition political party. Anger is growing in the country as cash shortages intensify. Bond notes are expected to be introduced soon, prompting fears of hyperinflation, which wiped out savings and pensions in 2006 to 2008. A ban on imports is cutting off an economic lifeline for many families. And calls are mounting against abuses by law enforcement.
- Real Estate