Trade - Logistafrica.com

Kenya: African Development Bank approves $30 million Trade & Small and Medium Enterprises (SME) Finance Facility for Family Bank Limited

March 21, 2023March 21, 2023 logistafrica

The Board of Directors of the African Development Bank Group has approved a $30 million Trade & SME Finance Facility for Family bank Limited (FBL) in Kenya. The facility is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction of the trade & SME finance gap in the East African nation. The facility will provide a Trade Finance Line of Credit to support FBL’s short-term trade finance activities, a Transaction Guarantee, which will provide a risk-covered strategic platform to enable confirmation of trade transactions originating…

Trade: “We need to strengthen South-South cooperation” says Evariste Ndayishimiye, President of Burundi

March 15, 2023March 15, 2023 logistafrica

From March 5 to 9, 2023, the United Nations organized high-level roundtables in Doha to gather the voices of experts and representatives of countries and organizations on the best ways to place potential to the realization of the Doha Agenda for Action. The aim was to find solutions to the challenges posed by the international trading system and to support the least developed countries (LDCs) in their integration into international trade and regional integration. The Head of State of Burundi, H.E. Evariste Ndayishimiye, co-chaired the High-Level Thematic Roundtable on “Enhancing…

Trade : Africa’s free trade on track, more efforts needed

February 22, 2023February 22, 2023 logistafrica

By: Douglas Okwatch It’s the second year of business on Africa’s biggest trading platform – the African Continental Free Trade Area (AfCFTA) – and it isn’t going to be business as usual in the continent’s single biggest trading bloc. Expectations are high and a new push by African ministers may have just provided the AfCFTA with the much-need impetus. It’s also expected to top the agenda at the African Union Heads of State and Government Summit in Addis Ababa, Ethiopia, early this year. Critically, the new year provides an opportunity…

China-Africa trade reached a record high in 2022

January 30, 2023January 30, 2023 logistafrica

Trade between China and African countries recorded double-digit growth in 2022, thanks in part to rising commodity prices. Trade between China and Africa reached a record $282 billion (260 billion euros) in 2022, up 11% from 2021, according to data released by the General Administration of Chinese Customs. China’s exports to African countries increased by 11.2% over the past year to $164.49 billion (€151.3 billion). During the same period, Chinese imports from Africa totaled $117.51 billion (€108 billion). The increase in the value of Sino-African trade in 2022 is due…

TradeMark Africa Launches in West Africa

January 30, 2023January 30, 2023 logistafrica

ACCRA, Ghana, January 30, 2023/APO Group/ — TradeMark East Africa, one of the world’s leading Aid for Trade organisation, has today rebranded to TradeMark Africa (TMA) (www.TradeMarkAfrica.com) and simultaneously officially launched its West Africa operations. Founded in 2010 in Kenya, today marks TradeMark Africa expansion from its previous core operational area of East Africa and the Horn, to also support countries in West and Southern Africa. TradeMark Africa now has a presence in fourteen countries in sub-Saharan Africa (SSA): Kenya, Uganda, Tanzania, Rwanda, Burundi, the Democratic Republic of Congo (DRC),…

MSC Boosts Connections Between Angola, Namibia and Their Key Trade Markets

December 21, 2022December 21, 2022 logistafrica

As part of MSC’s decision to expand its Sub Saharan Africa network, the company is reshuffling its Angola service, offering Pointe-Noire, Congo Republic (CR), and Matadi, Democratic Republic of Congo (DRC), as from January 2023. Offering Pointe-Noire on the Angola service will represent a significant advantage for Asia and India markets in the region. The Congolese port will serve as a key transshipment hub for cargo destinated to Angola and Namibia. Stopping the tranship via Lomé will reduce by 11 days the transit time to the main Angolan port of…

UNCTAD calls for investment in maritime supply chains to boost sustainability and resilience to future crises

November 29, 2022November 29, 2022 logistafrica

UNCTAD’s Review of Maritime Transport 2022, an annual comprehensive review of global maritime transport, warns that the maritime sector will require greater investment in infrastructure and sustainability to weather future supply chain crises. The UN Conference on Trade and Development (UNCTAD) in its flagship “Review of Maritime Transport 2022“ has called for increased investment in maritime supply chains. Ports, shipping fleets and hinterland connections need to be better prepared for future global crises, climate change and the transition to low-carbon energy. The supply chain crisis of the last two years has…

India can benefit from African Continental trade pact: MEA

November 16, 2022November 16, 2022 logistafrica

Tribune News Service New Delhi, August 28 Underscoring India’s commitment towards growth in relations with Africa, New Delhi on Friday said the country’s businesses could benefit from the African Continental Free Trade Agreement that was gathering pace. Characterising the proposed pact as a “game changer”, Rahul Chhabra, Secretary, Economic Relations, Ministry of External Affairs, said more and more African countries were joining the agreement and a huge opportunity could come in a few months. Till date, 30 of the 54 countries have ratified the agreement. “Making Africa resilient for Indian…

The emerging markets e-commerce opportunity

November 8, 2022November 22, 2022 logistafrica

Author: Mike Bhaskaran, Group COO of Digital Technology at DP World Online retail has boomed in the last two years, triggered by the pandemic which drove consumers to buy their goods on the internet. While this presented a major challenge for bricks-and-mortar retailers, it created a lucrative opportunity for online vendors and e-commerce platforms. Meta most recently jumped on this trend, partnering with JioMart to improve consumer access to food and goods in India – allowing them to make purchases within WhatsApp, a platform used by over 100 million users…

Enhancing the Trans-Saharan Road corridor to boost trade and economic development

October 27, 2022October 27, 2022 logistafrica

© Abdelrahman Hassanein/Shutterstock | Economic corridors enable regions and countries to offer high-capacity transport systems that foster trade. UNCTAD and the Islamic Development Bank launch a roadmap for supporting economic development and regional integration through Africa’s Trans-Saharan corridor. Trade and transport corridors, the major routes that facilitate the movement of people and goods between regions and countries, have existed for millennia. The Trans-Saharan Road (TSR) corridor, one of the oldest in Africa, comprises a 4,500-kilometre main road that links Algeria, Niger and Nigeria with an additional 4,600 kilometres of highways connecting…