BEACON » Rwanda http://www.cosmizen.com Business Economy And Commerce Online News Fri, 11 Apr 2014 08:36:40 +0000 en-US hourly 1 http://wordpress.org/?v=3.8.2 EAC Common Market Likely to Slash Cost of Consumables http://www.cosmizen.com/2010/07/eac-common-market-likely-to-slash-cost-of-consumables/ http://www.cosmizen.com/2010/07/eac-common-market-likely-to-slash-cost-of-consumables/#comments Mon, 12 Jul 2010 17:27:22 +0000 http://www.cosmizen.com/?p=939 Continue reading]]> The East African Common Market (EACM) which came into force on July 1 is expected reduce prices of household items as the new ‘competitive’ market environment will trigger some price shake-up on many consumables. Though the EACM may take almost five years to become fully operational, the consumers of East African Community (EAC), Burundi, Kenya, Rwanda, Tanzania and Uganda are likely to experience price stabilization much early on.

Uganda branch manager Joshua Ng’ang’a of Nakumatt, a Kenyan supermarket chain said at least commodities in the Ugandan supermarkets would see about 20 percent cut as the imports were overpriced to the tune of same percentage. Besides discounted prices, improvement in quality and increase in variety of items is also anticipated from the start of the common market since producers will have to compete with similar business entities among the EAC member states.

Ng’ang’a argued that one of the other reasons for price reduction apart from competition would be the elimination of middlemen from the procurement scene, allowing the supermarkets to directly source from the producers or manufacturers. According to East African Business Week, the leading supermarkets in Uganda are tight-lipped about the future developments in the retail sector.

Last November, the member states of the EAC signed a common market protocol, aimed at expanding the existing customs union. It is commonplace to economies those form blocs to envisage increased competition along with the free movement of services, capital, entrepreneurship and labour across the member states.

In the absence of trade barriers, the architects of the common market expect the businesses in the region to flourish across borders. All five countries have already adopted a common external tariff, an identical tax applied to imports from outside the bloc, and allowed duty-free regional trade with the exception of Kenya, the largest economy. The EAC also has plans of floating a common currency within two years.

Toboc Trade News

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Fading Memories of Vendetta and Resolve to Coexist Transform Rwanda http://www.cosmizen.com/2009/12/fading-memories-of-vendetta-and-resolve-to-coexist-transform-rwanda/ http://www.cosmizen.com/2009/12/fading-memories-of-vendetta-and-resolve-to-coexist-transform-rwanda/#comments Wed, 23 Dec 2009 11:16:03 +0000 http://tradetimes.wordpress.com/?p=691 Continue reading]]> Rwanda has become a model to many countries of endless conflicts to perceive the significance of reconciliation and co-existence. The former US President, Bill Clinton’s proposal does not become rhetoric while he said that Israel and Palestine should learn from Rwanda’s post-genocide reconciliation model.

Though no one guarantees there would not be any flare up once again in the future, but today’s Rwanda definitely depict a picture of living harmoniously by burying the emptiness of violence. Furthermore with a hope of restarting their lives all over again though they had to live among the same people who killed or maimed their loved ones. The people of Rwanda have come to terms to discern that the conflict had left behind only a trail of destruction and despair which they themselves had to rebuild with limited resources.

Today Rwanda is all set to re-write history as the economy is growing at a faster a pace despite not having diamond mines, oil reserves or minerals as compared to its neighbors. Tourism is the vital industry, and Rwandan government is inclined on pursuing eco-friendly projects to power the economy.

Paul Kagame, Rwanda’s president understands there is a lot of work to do to reboot the economy, with the per capita income being less than $550 and daily wages hovering around $1.25. Towards this goal, he has ordered everyone to begin work at 7 AM and to come in for a half-day on Saturdays. Besides, all adults are asked to do community service on one Saturday of every month, often president joining them in work.

It has been estimated close to 1mn people or 20 percent of the population was killed fifteen years ago when the Hutu majority perpetrated genocide against the Tutsi minority. Mostly women bore the brunt by falling victims to rape, revenge and HIV/AIDS; and the genocide orphaned about 100,000 children.

Ironically, the country has now a higher female representation among legislative bodies of 2008 elections to become the only legislature in the world where women are in the majority. On gender issues, Rwanda now ranks first in the global gender parity ratings, followed only by Sweden and Finland.

Though the country faces a host of issues such as poverty, poor infrastructure and low power generation, the government has set ambitious goals to overcome these soon with the support of international organizations including the UN, the Commonwealth and various other non-profit ones. One of the notable achievements is that Rwandan education system has recovered remarkably well, at least quantitatively to register rapid growth of enrollments at all levels.

Moreover, Rwanda has drawn investments from companies as diverse as Costco, Microsoft and Starbucks, which opened an office in Kigali to train farmers to grow high-end coffee more efficiently. Korea Telecom’s $7.66mn project to provide broadband wireless service in the capital town of Kigali is another example to the increased presence of several companies vying to utilize business opportunities in the country.

Rwanda is looking to export dairy products, software, computer services, fruit and juices, silk and fresh-cut flowers in addition to the shipments of coffee and tea. However, the resolve of 10mn population to palliate the feeling of vendetta within the old enemies of Hutu and Tutsi ethnic groups will decide as to how this East-Central African state will rise from the ashes of its own people.

Toboc Trade News

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