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Trade and Investment

Africa’s tourism set to boost economic growth, says World Bank report

By Ben Kinyanjui

Sub Saharan Africa’s tourism industry is set to spur more economic growth for the continent and directly employ 6.7million people by 2021, according to a new World Bank report released today. Tourism in Africa is driven by wildlife but poaching is threatening to wipe out elephantsTourism in Africa is driven by wildlife but poaching is threatening to wipe out elephants

The report—Tourism in Africa: Harnessing Tourism for Growth and Improved Livelihoods—says that tourism accounted directly or indirectly for one in every 20 jobs in Sub Saharan Africa in 2011.

More women are now able to participate in economic activities globally, says World Bank

By Ben Kinyanjui

Legal and regulatory barriers to women’s economic inclusion have decreased over the past 50 years globally, says a new World Bank/IFC report.Women are now more engaged economically than beforeWomen are now more engaged economically than before

However the report says many laws still hinder women’s participation in the economy. Laws restricting women’s economic activities are currently most prevalent in the Middle East and North Africa, Sub-Saharan Africa and South Asia.

Economic reforms have paid off, says IMF Africa Director Antoinette Sayeh

By TF News Reporter and PPS

The International Monetary Fund (IMF) has expressed satisfaction with economic reforms undertaken in the country in the recent past.President Uhuru Kenyatta greets the Director, African Department, International Monetary Fund (IMF), Ms Antoinette Sayeh on arrival for the official opening of High Level Conference on Kenya's Economic Success, Prospects and challenges at the Norfolk Hotel, Nairobi (Photo:PPS)President Uhuru Kenyatta greets the Director, African Department, International Monetary Fund (IMF), Ms Antoinette Sayeh on arrival for the official opening of High Level Conference on Kenya's Economic Success, Prospects and challenges at the Norfolk Hotel, Nairobi (Photo:PPS)

IMF Africa Director Antoinette Sayeh says Kenya’s economic reforms have delivered huge pay-offs, making the country an example of the continent’s market-driven economic dynamism.

Clarify VAT law, President Kenyatta orders Treasury and KRA

By TF News Reporter

President Uhuru Kenyatta has directed the National Treasury and Kenya Revenue Authority (KRA) to publish regulations clarifying the VAT law.National Treasury chief ordered to clarify VAT  lawNational Treasury chief ordered to clarify VAT law

He said clarity will ensure unscrupulous people do not take advantage of ordinary citizens by overcharging for essential commodities.

Jubilee Insurance and Bupa International launches health insurance product

By TF News Reporter

Jubilee Insurance jointly with Bupa International has launched a new health insurance product dubbed Explorer Health Plan.Health insurance cover is gaining popularity among KenyansHealth insurance cover is gaining popularity among Kenyans

Explorer will seek to provide health insurance services to the growing middle-class, mid-level executives, and expatriates living in Kenya and traveling in and around Africa, including those seeking treatment in South Africa, India, Pakistan and Sri Lanka.

Kenya and Nigeria to sign bilateral agreement

 

By TF News Reporter and PPS

Nigeria President Goodluck Jonathan arrived in Kenya Thursday for a three days visit that will witness the two countries sign a trade agreement.President Uhuru Kenyatta (right), Nigerian President Dr Goodluck Jonathan and First Lady Dr Patience Goodluck Jonathan are adorned with Maasai traditional attire at State House, Nairobi.(Photo-PPS)President Uhuru Kenyatta (right), Nigerian President Dr Goodluck Jonathan and First Lady Dr Patience Goodluck Jonathan are adorned with Maasai traditional attire at State House, Nairobi.(Photo-PPS)

The visit comes at a time when global attention now is on Africa due to its huge potential especially in mineral resources.

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