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<p>The Governor of the National Bank of Rwanda, John Rwangombwa has announced that Rwanda&#8217;s monetary policy rate will be maintained at 7.5 per cent. This decision follows a review of the economy from November 2023 to February 2024. The last MPC meeting in November 2023 also maintained the lending rate at 7.5 per cent. with the last increment in August 2023 of 50 basis points. Inflation currently stands at 5 per cent, falling within the target band, with the decline in core inflation attributed to improved rainfall and softer energy prices and high sectorial performance. The Governor noted that global developments could influence future monetary policy outcomes.</p>


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National Bank of Rwanda maintains policy rate at 7.5%

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<p>Transparency International along other stakeholders have proposed a harmonized  East African Community asset declaration framework that would curtail corruption in the region once members buy into it. Apollinaire Mupiganyi, Executive Director of Transparency International Rwanda joins CNBC Africa for more.</p>


Proposal to harmonize asset declaration rules in EAC

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<p>Over the weekend, Rwanda&#8217;s President Paul Kagame and the President of the Democratic Republic of Congo Félix Tshisekedi signed three bilateral agreements namely; bilateral investment treaty, a double taxation avoidance agreement, as well as an MoU on a mining concession. Moreover, DRC’s vision to be integrated into the East African Community took another step forward after the bloc launched a verification mission to the central African country. Economic Analyst, Ted Kaberuka oins CNBC Africa for more.</p>


EAC: Why there is renewed interest in DRC

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<p>Tanzania has finally joined the East African Community’s One Network Area for lower cross-border call tariffs.</p>


Tanzania joins EAC’s One Network Area for lower cross-border call tariffs

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<p>Energy and Petroleum Regulatory Authority agreed to Kenya Power&#8217;s tariff hike of at least 20 per cent. If implemented, the higher tariffs will aid Kenya Power’s turnaround efforts, but hurt household budgets and raise the already high cost of doing business in Kenya. Ken Gichinga, Chief Economist at Mentoria Economics joins CNBC Africa for more.</p>


Kenya Power tariff hike: Here’s why it’s time to shift to renewable energy

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<p>It has been noted that tax administrations not only in the region but across the continent need to embrace technological solutions to ensure they meet revenue targets and enhance compliance amongst the tax base. Economic Analyst Odhiambo Ramogi joins CNBC Africa for more.</p>


How the EAC can leverage technology to meet revenue targets

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<p>The East African Community member states have up to five years to join the UK-Kenya trade agreement due to be signed ahead of the Brexit transitional deadline. The new document has also shielded budgetary cuts that had been imposed on Trade Mark East Africa’s work in Kenya, allowing continued regional trade facilitation by the organization. Communication Consultant, Alex Owiti joins CNBC Africa for more.</p>


What the UK-Kenya trade deal means for EAC member states

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<p>From lockdowns and curfews to testing and quarantines, each member state of the East African Community has employed its own ways to deal with the COVID-19 pandemic. Now as the region undertakes revival of tourism, experts believe harmonizing travel protocols would be vital. Fred Odek, outgoing Chairperson of the East Africa Tourism Platform joins CNBC Africa for more.</p>


Why harmonization of travel protocols is key to reviving tourism in East Africa

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<p>During a recent meeting between Kenyan President Uhuru Kenyatta and his Egyptian Counterpart Abdel Fattah el-Sisi, it’s been reported that the two have agreed to work closely on the sensitive issue of the disputed Grand Ethiopian Renaissance Dam. CNBC Africa spoke to International Relations Expert, Emery Nzirabatinya for his thoughts on how effective this could potentially be and what it could possibly mean for the East African Community.</p>


Egypt seeks Kenya’s help in resolving GERD dispute


<p>GENEVA (Reuters) &#8211; Nigeria’s Ngozi Okonjo-Iweala and South Korea’s Yoo Myung-hee are through to the final round of selection for the next director-general of the World Trade Organization, three sources said on Wednesday.</p>



<p>The reduction of the field from five to two means, if confirmed, that the Geneva-based trade body is now certain to be led by a woman for the first time.</p>



<p>If the sources are correct, it means the the line for Amina Mohamed the former Kenyan cabinet minister who fought a very strong campaign and at some stage was considered favourite.</p>



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<p>Mohamed was campaigning strongly on the issue of climate change.</p>



<p>“How is it possible that the WTO does not discuss climate change?… WTO must be a part of the global conversation on climate change,” she told an online media briefing from Geneva.</p>



<p>Mohamed, who was involved in the development of green financial instruments when she was the deputy head of the U.N. agency for the environment (UNEP), said she would make the WTO’s trade and environment committee active.</p>



<p>“At the end of the day, it is about the bottom line, but that bottom line can actually be improved by going green because that is the future,” she said.</p>



<p>Whomever gets the job will have the difficult task of reforming an increasingly dated WTO.</p>


Okonjo-Iweala

Nigerian, South Korean women through to final round in WTO chief race: sources

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<p>Yesterday during an interactive live citizen outreach interview, Rwandan President Paul Kagame answered questions about COVID-19, the recent arrest of Paul Rusesabagina and tensions between some of the members of the East African Community. Here’s some of what he had to say.</p>


EAC Chair Paul Kagame addresses regional relations

EAC Chair Paul Kagame addresses regional relations, COVID-19 & Paul Rusesabagina’s arrest

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<p>Often referred to as the &#8216;Giant of Africa&#8217;, the Democratic Republic of Congo presents a huge trade opportunity. So far, almost half of the trade between the DRC and the East African Community (EAC) is informal and opportunities are hindered by the high cost of doing business due to the prevalence of non-tariff barriers, implying that the potential for trade hasn’t been optimized. Peter Mathuki, The Executive Director and CEO of the East African Business Council spoke with CNBC Africa on the market potential and opportunities for SMEs in the region.</p>


East African Business Council CEO on what makes the DRC attractive to investors

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<p>Trade in the East African Community has been greatly affected by the COVID-19 pandemic with trade volumes estimated to have dropped to between 30 per cent and 40 per cent in the past few months. Frank Matsaer, CEO of TradeMark East Africa joins CNBC Africa for more.</p>


EAC sees sharp fall in regional trade due to COVID-19

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<p>Rwanda has over the weekend seen a spike in COVID-19 cases, with some predicting renewed lockdown measures as a new wave of infections seems possible. Dr. Jose Nyamusore, Rwanda Biomedical Center joins CNBC Africa for more.</p>


Rwanda sees spike in coronavirus cases

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<p>Uganda’s Central Bank cut its benchmark lending rate by 100 basis points, taking it down to 7 per cent, to support the East African nation’s economy as it downgraded projected growth. According to the government, the pace of Uganda’s economic expansion is expected to decline by more than half in the financial year to June 30 to between 2.5-3.5 per cent. Oscar Emasu, Research Analyst at Crested Capital joins CNBC Africa for more.</p>


This is how COVID-19 is impacting Uganda’s growth outlook

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<p>In Uganda, the 3rd National Development Plan was tabled before Parliament in January 2020 by the Minister of State for Planning, a move that was supposed to inform the processing and approval of the budgets for the next five years starting with 2020/2021 financial year. Analyst, Charles Bwogi joins CNBC Africa for more.</p>


Unpacking Uganda’s 3rd National Development Plan

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<p>The East African Community finance ministers have agreed on measures to protect and enhance the competitiveness of the regional manufacturing industry. This comes ahead of the conclusion of a comprehensive review of the Common External Tariff that has dragged on for more than three years. Economic Analyst, Ted Kaberuka joins CNBC Africa for more.</p>


East African Community

National Bank of Rwanda maintains policy rate at 7.5%

Proposal to harmonize asset declaration rules in EAC

EAC: Why there is renewed interest in DRC

Tanzania joins EAC’s One Network Area for lower cross-border call tariffs

Kenya Power tariff hike: Here’s why it’s time to shift to renewable energy

How the EAC can leverage technology to meet revenue targets

What the UK-Kenya trade deal means for EAC member states

Why harmonization of travel protocols is key to reviving tourism in East Africa

Egypt seeks Kenya’s help in resolving GERD dispute

Nigerian, South Korean women through to final round in WTO chief race: sources

EAC Chair Paul Kagame addresses regional relations, COVID-19 & Paul Rusesabagina’s arrest

East African Business Council CEO on what makes the DRC attractive to investors

EAC sees sharp fall in regional trade due to COVID-19

Rwanda sees spike in coronavirus cases

This is how COVID-19 is impacting Uganda’s growth outlook

Unpacking Uganda’s 3rd National Development Plan

COVID-19: East African Community unveils new measures to protect manufacturing industry

News Tips

Advertise With Us

East African Community

National Bank of Rwanda maintains policy rate at 7.5%

Proposal to harmonize asset declaration rules in EAC

EAC: Why there is renewed interest in DRC

Tanzania joins EAC’s One Network Area for lower cross-border call tariffs

Kenya Power tariff hike: Here’s why it’s time to shift to renewable energy

How the EAC can leverage technology to meet revenue targets

What the UK-Kenya trade deal means for EAC member states

Why harmonization of travel protocols is key to reviving tourism in East Africa

Egypt seeks Kenya’s help in resolving GERD dispute

Nigerian, South Korean women through to final round in WTO chief race: sources

EAC Chair Paul Kagame addresses regional relations, COVID-19 & Paul Rusesabagina’s arrest

East African Business Council CEO on what makes the DRC attractive to investors

EAC sees sharp fall in regional trade due to COVID-19

Rwanda sees spike in coronavirus cases

This is how COVID-19 is impacting Uganda’s growth outlook

Unpacking Uganda’s 3rd National Development Plan

COVID-19: East African Community unveils new measures to protect manufacturing industry

News Tips

Advertise With Us

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