African Business News

East Africa containerised trade volumes grow 1% Q1 2017

The 2017 First Quarter East Africa Trade Report issued by Maersk Line Eastern Africa - a member of A.P. Moller-Maersk - reveals that aggregate trade levels in the region have improved slightly since 2016, resulting in overall year-on-year growth of 1%.
According to the company's MD, Steve Felder, in line with what was reported last year, there continues to be a noticeable disparity in performance between the two core trade corridors of East Africa. Container trade in the Northern Corridor, which serves Kenya, Uganda, South Sudan, and parts of Rwanda, expanded by 1%, whereas the Central Corridor, serving Tanzania, parts of Rwanda, Burundi, Zambia, Malawi and DRC, saw a contraction of 12%.

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IITA research eases fears over yam supplies as Nigeria kicks off export

Research being conducted by the International Institute of Tropical Agriculture (IITA) in seed yam multiplication holds promise and could help Nigeria to quadruple yam production, says Nigeria’s Minister for Agriculture and Rural Development, Chief Audu Ogbe, who ends a two-day visit in Ibadan today.

Addressing reporters after a tour of IITA facilities including cassava fields, the aflasafe (a biocontrol product for controlling aflatoxins) production plant, the seed yam production facility through the aeroponics system, and a soybean inoculum fertilizer facility; Chief Ogbe said the quality of research at IITA was reassuring and could help Nigeria to address food security challenges and rev up exports.

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How can countries grow intra-Africa trade?

In the midst of rising trade protectionism among advanced western economies, African countries must work to sustain ongoing efforts to achieve structural transformation of African economies and enhance their integration into the global economy.

African and global trade experts said this at the just concluded meeting of the African-Export-Import Bank (Afreximbank) in Kigali.

They highlighted that the increasing adoption of policies restricting trade among countries poses a threat to African economies.

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Nigeria continues to maintain top spot as Africa's largest oil producer

Nigeria has continued to maintain its position as the top producer of oil in Africa according to the Organisation of Petroleum Exporting Countries (OPEC) monthly report for the month of July. Nigeria has reclaimed its top position in June following a six month period trailing Angola due to the activities of Niger Delta militants.

Following meetings between Acting President Yemi Osinbajo and leadership of the Niger Delta region, a ceasefire was agreed and Nigeria returned to uninterrupted oil supply.

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