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Ethiopia’s PM inaugurates Africa’s ‘largest’ cargo terminal

Ethiopia’s PM inaugurates Africa’s ‘largest’ cargo terminal Ethiopia’s Prime Minister Hailemariam on Thursday inaugurated the country’s newest cargo terminal, built at a cost of €110 million.Meanwhile, Group CEO Ethiopian Airlines Tewolde Gebremariam has said the new cargo terminal, which is the largest in Africa, will put Ethiopian among the 10 world’s best airlines in cargo and logistics services. Speaking on the occasion of the inauguration ceremony, the Ethiopian prime minister called on other African airlines to join hands with Ethiopian airlines to address bottlenecks of the air cargo industry in the continent. According to the premier, the new cargo terminal will have an immense role in boosting the country’s export of footwear, leather and pharmaceuticals, as well as horticultural produce.
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Customs increased the Duty rate on sugar on 24 March 2017. Duty on sugar now R6.43 per kg. Sugar is becoming a luxury item,,,,,,,,,,,,,,,,,,,,,,,
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SADC Introducing Tax on Imports outside regional body.

Source FTW. T he Southern African Development Community (SADC) is reportedly considering introducing tax on imports from outside the regional body, according to the Zimbabwean Minister of Finance and Economic Development, Patrick Chinamasa. He was quoted by the state-owned newspaper, The Herald, as saying that revenue from this could be used to fund the trade bloc’s developmental goals. He added that though it was commendable that the regional bloc could now fund 54% of its budget requirements; more fundraising mechanisms are needed to attain financial self-sufficiency.

Record $57bn in financing for sub-Saharan Africa

By Staff FTW online News  F ollowing a meeting with G20 finance ministers and central bank governors, World Bank Group president, Jim Yong Kim, has announced a record US$57 billion in financing for sub-Saharan African (SSA) countries over the next three fiscal years. The bulk of the financing – $45 billion – will come from the International Development Association (IDA), the World Bank Group’s fund for the poorest countries. The financing will include an estimated US$8 billion in private sector investments from the International Finance Corporation (IFC) – a private sector arm of the World Bank Group – and US$4 billion in financing from International Bank for Reconstruction and Development, its non-concessional public sector arm. “This represents an unprecedented opportunity to change the development trajectory of the countries in the region. With this commitment, we will work with our clients to substantially expand programs in education, basic health services, clean water an

Shipping Industry to Recover by 2021 ref: FTW Online

By FTW Staff reporter 15 Mar 2017 17:15 (UTC+2) The marine freight industry is forecast to reach a total value of $210 billion by 2021, following a recent slump in growth according to global research company MarketLine. Globally the industry has struggled in recent years, suffering from a negative compound annual growth rate (CAGR) of 3.3% between 2012 and 2016 amid an increasing oversupply and a collapse of global demand, according to MarketLine analyst, Tom Hawthorne. The company predicts a sluggish recovery. Despite the global industry value declining by some $44 billion (12.7%) in 2015, the industry is expected to return to 2014 levels by mid-2019 and reach a value of approximately $210 billion by 2021. Hawthorn says: “The recovery in the industry is expected to be fuelled primarily by a return of global demand as oil prices increase, and while it will take some time for the industry to reset to pre-2015 levels, the shrinking of industry value is short-lived. The players w


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