All hail the United states of Africa!
Manish K. Pandey | August 2016 Issue | The Dollar Business The 27th Ordinary Session of the African Union Assembly of Heads of State and Government, which was held on July 17, 2016 in Kigali (the capital city of Rwanda), was not so ordinary by any means. After all, it was the start of the Pan-Africanism – an African Union on the lines of European Union (well, not literally if you consider Brexit!). The event was marked by the launch of the African Union (AU) passport aimed at facilitating the free movement of people within the continent. Idriss Deby Itno, Chairperson, African Union and President of the Republic of Chad, and Paul Kagame, President of the Republic of Rwanda became the first ...
Exim Bank Lines of Credit for East Africa to Boost Indias Exports
Satyapal Menon | @TheDollarBiz Mombasa Port in Kenya. Kenya accounts for over 63% of India’s total exports to the EAC. The Export Import Bank of India says that Lines of Credit (LOCs) for the East African Community (EAC) is likely to strengthen India’s position as the top exporter to a region considered a virgin territory for investments and infrastructure development, and as a gateway to rest of Africa. The EAC is a regional group comprising the Republics of Burundi, Kenya, Rwanda, Tanzania, and Uganda. It is considered as a single market with around 125 million consumers, and is among the world’s rapidly growing economic regions. During 2002-2012, global trade of EAC surged more than five-fold from $8.9 billion to $49.3 billion, ...
