Video guest: Josephine Mwangi

December 2017
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EDITO
Monday, 18 December 2017

Amethis Finance, a Paris-based company focused on investing in debt and equity in Africa, is seeking to raise Sh36 billion for investment in 11 countries including Kenya. Amethis Fund II is a 10-year closed-end generalist private equity fund targeting mid-market companies in financial institutions, fast-moving consumer goods, healthcare, agribusiness, education, IT and telecommunications. The International Finance Corporation (IFC), the World Bank’s private lending arm, is proposing to inject Sh1.8 billion in equity investment into the fund, its disclosures indicate. Amethis has in the past years invested in Chase Bank, Ramco Group and Kenafric Industries.

The European Union has pledged $30 million to fund development of the livestock value chain in Zimbabwe. The money is part of a $300 million funding programme announced in 2015 to support health, agriculture and governance initiatives through the European Development Fund’s National Indicative Programme. “In pursuit of inclusive and sustainable agriculture based value chains, the European Union in Zimbabwe has launched a new call for proposals to support upgrading and upscaling of livestock based value chains with a proven potential in terms of economic performance and inclusiveness,” the EU said in a statement on Tuesday.

The Double Taxation Agreement (DTA) between the Government of Barbados and the Italian Republic has entered into force in accordance with Article 30 of the Agreement. The instruments of ratification for the Convention for the Avoidance of Double Taxation with Respect to Taxes on Income and the Prevention of Fiscal Evasion were exchanged by the Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss, and Ambassador and Special Envoy to the Caribbean of the Italian Republic, Paulo Serpi. The entry into force of the Barbados/Italian Republic DTA represents not only Barbados’ firm strides to expand its treaty network, but it also signals the country’s willingness to foster closer ties with Italy and the European Union in particular.

During an official visit to Tanzania, Commissioner for International Cooperation and Development Neven Mimica signed a €50 million programme to support rural electrification in the country. The new financing agreement will support the access of Tanzanian citizens to affordable and sustainable energy through extending energy grids as well as expanding distribution networks. During the signing ceremony, Commissioner Mimica said: "Our important programme worth €50 million will help accelerate the Tanzanian people's access to modern energy. It will provide electricity to over 3600 villages in rural regions of Tanzania, essentially benefitting 1 million people. And this access to energy is vital: it will increase the quality of life in rural areas, improve health and educational services and bring clear benefits, particularly to women and children."

Developing import substitution on exports of fruit and vegetables and addressing market opportunities was on the agenda of a workshop organised by the Pacific Community (SPC) in Nadi yesterday. The two-day discussions were part of the Improving Key Services to Agriculture (IKSA) project implemented by SPC and funded by the European Union. According to SPC, participants would discuss factors generating the selection of produce and ingredients, particularly in terms of menu design at Fiji's resorts, trading of local produce and the ability to meet the demands of resorts as well as production models used to grow produce for timely and reliable local supply.