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VOL. 9, ISSUE 12 OCTOBER 28 - NOVEMBER 3, 2013
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Tz pips Kenya in tourism earnings BY KENAN KALAGHO nDAR ES SALAAM, TANZANIA-Tanzania tourism has continued to grow and is now ranked first in East Africa according to recent World Bank (WB) data. Latest figures show the Tanzania tourism sector earned $1.56 billion as compared to Kenya, the second ranked tourist destination in the region which received $1.3 billion in the same period. The report titled ‘Tourism in Africa: Harnessing Tourism for Growth and Improved Livelihoods’ states that Tanzania stands a better chance of transforming its economic growth and reducing overall poverty through the tourism sector. The WB data also points out that this is the first time since 2008, Tanzania has surpassed Kenya for the number one spot in East Africa. During that period and just after Kenya’s post- election violence, Tanzania earned $1.3 billion compared to the Kenyans who pocketed $752 million. The report reveals that Tanzania now boasts of 31, 365 hotel rooms as compared to Kenya’s 24,354. It forecasts employment in travel and tourism in 2021 to reach 463,800 for Tanzania and 273,500 for Kenya with TO PAGE 2
BY HUMPHREY LILOBA nNAIROBI, KENYA--Kenya plans to split its national tax collecting agency into two to boost collection while at the same time close loopholes for corruption and evasion. According to the plan, the Kenya Revenue Authority (KRA) will be split into two semi-autonomous entities, namely the Domestic or Inland Tax Agency and the Customs and Border Control Agency. “The aim is to make KRA more
Ethiopia hints stock exchange BY DIAS NYESIGA nKIGALI, Rwanda-- Uth ADDIS ABABA, Ethiopia— The National Bank of Ethiopia (NBE) announced recently it is studying the possibility of setting up a stock market in Ethiopia. The announcement came after talks involving experts from the financial sector and representative of the central bank in Addis Ababa Hilton. According to media reports, the NBE representatives said the central bank has finalized a study on the establishment of secondary market, “but we have gone back to our study and focus on a stock exchange that will include both the primary and secondary market,” an expert from NBE said. A couple of years ago, an American investment consultant, Jonathan Auerbach, said Ethiopia's lack of a stock market was making it difficult to direct American institutional investors to put funds in the country's vibrant economy. “You have got to make a decision on whether you need a capitalist or a socialist system. Ethiopia is the only country in the world with a big population that does not have a stock-market. You need to have a stock market,” he said. Meanwhile according to the IMF Ethiopia’s economic expansion may continue through next year before “tapering off” TO PAGE 2
WELCOME: Tanzania has been carrying out an aggressive marketing campaign, especially in the UK, to get tourist numbers up. Photo By Kenan Kalagho
Rwanda pushes for high-speed internet links BY DIAS NYESIGA
Kenya to spilt tax authority responsive, efficient and effective in revenue collection. We are losing a lot due to duplication of roles, corruption and general inefficiency in the revenue collection system,” President Uhuru Kenyatta said last week while officially opening the annual Taxpayers Week. He said the move is in line with East African Community agreements and will facilitate trade and improve security. TO PAGE 2
Cut-price milk for Ugandan kids BY EMMA ONYANGO
nKAMPALA, Uganda –A school milk scheme has been launched that will provide cut-priced milk to Ugandan school children at least thrice a week. The scheme involves a partnership between the Ministry of Education , Sameer Agriculture and Livestock Limited and the Dairy Development Authority (DDA). It was launched last week at the Nangabo Vocational Training Institute in Wakiso near Kampala. TO PAGE 2
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nKIGALI, Rwanda--The government is courting internet service providers (ISPs) to look at ways of improving internet speed and give a big boost to online transactions. The government has pegged fast ICT development as a pillar of attaining middle income status. The introduction of high-speed 4G broadband network is seen as paving a way for internet service providers to cut costs for internet users. Again, the rollout the 3000 kilometres of cable countrywide that boosted the local is widening the bandwidth thus pushing access to internet services to rural areas. For example, after the rollout, a megabyte of Internet costed went down to$125 TO PAGE 2
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