$490 million –
It is estimated that in East Africa in 2010, trade barriers led to a $490 million increased cost to the region. East African countries have reduced non-tariff barriers (NTBs) the last five years, this according to a TradeMark East Africa (TMEA) statement.
Cash deposit required for a 40-foot container in Kenya. Shipping liners routinely demand cash deposits before releasing a container to a freight forwarder. East African countries are trying to reduce trade barriers and have called for changes to regulations.
$3.55 billion –
The cost of the pipeline that will run from Hoima in Uganda to the Tanga Port in Tanzania. Lama in Kenya was also in the running, but lost out this week to Tanga.
South African bulk commodities declined by 15.3% over the last year. Economist Mike Schüssler points to the distressed state of the South African economy indicating a recession on the horizon.
South African retailer Pick n Pay, plans to open 10 large and smaller format stores in Nigeria with Lagos-based AG Leventis. Pick n Pay will hold a 51% share in the joint venture.
U.S. coffee chain Starbucks plans to open up to 150 stores in South Africa, according to the founder and CEO Howard Schultz said on Friday.