East African tea producers lobbied their governments to scrap value-added tax on domestic sales to help stimulate prices through increased consumption after higher output pushed auction rates to the lowest in 13 years.
Foreign aid has long been one of the most unpalatable dishes on the federal plate. Why should U.S. taxpayers give billions of dollars to ungrateful countries that will waste it and whose people don’t like America anyway?
Tanzania will ease controls on foreign ownership of its stocks and bonds by next year as the country seeks to attract investment to finance infrastructure projects that will cost billions of dollars, President Jakaya Kikwete said.
Kenya’s shilling weakened to its lowest level in more than six months as intervention by the East African nation’s central bank failed to stem increased demand for dollars from gasoline and manufacturing companies.
The Ugandan unit of South African utility Eskom Holdings SOC Ltd., which manages plants generating almost half of the East African nation’s electricity, said it wants more than double the capacity it runs in the country.