Tanzania has refused to sign the Economic Partnership Agreement (EPA) that is set to guide trade between the East African Community (EAC) and the European Union and this has not gone down well with some regional members for some obvious reasons. The Permanent Secretary in the Ministry of Foreign Affairs, Dr Aziz Mlima said his country would not sign the EAC-EU EPA citing 'turmoil' in the EU occasioned by the impending exit of the United Kingdom. "Our experts have analysed the pact and established that it will not be to our local industry's benefit.
A little more than two weeks after the United Kingdom voted to leave the European Union, the economic and development impacts of the referendum are beginning to take shape. The instability caused by the referendum sent the British pound plummeting in the greatest one-day loss since the beginning of the Bretton Woods system. The currency now hovers at a 12 percent loss against the dollar, with knock-on effects for the U.K. aid budget. Currently valued at about $19 billion, British aid has lost $1.9 billion in value since the pound dropped.
International brewers in Africa are expanding their production of beers based on local ingredients, snapping up craft brewers and introducing more brands as low-cost beers gain popularity on the fast-growing but still poor continent. Diageo acquired a South African rival specializing in local beer last year, while SABMiller is opening new production lines in markets such as Zimbabwe where cheap competitors and illicit brews often out-sell more globally recognized competitors.
The Competition Commission of South Africa has approved without conditions the proposed launch of an ice cream joint venture in the country – Froneri – by Nestle and R&R Ice Cream. The commission said yesterday (14 July) that the plans raised no public interest concerns and were "unlikely to substantially prevent or lessen competition in any market". Nestle and R&R announced last April that Froneri would combine the companies' ice cream operations, operating in more than 20 countries, primarily in Europe, the Middle East, Argentina, Australia, Brazil, the Philippines and South Africa. Nestle and PAI Partners, the private-equity owner of R&R Ice Cream, will have equal equity stakes in Froneri.
The Minister of Political and Public Affairs, Madam Nanette Thomas together with the Deputy Director of the Office of Diaspora Affairs, Mr. Sorie Tholley attends the ACP-EU Dialogue on Migration and Development, Seminar on Remittances in Brussels, Belgium. The seminar on remittances which was organised by the African, Caribbean, and Pacific Group of States (ACP) was attended by Stefano Manservisi, the Director-General of DG DEVCO, Ambassador Leonard-Emile Ognimba, Assistant Secretary General – Political Affairs and Human Development (...)