Category: Trading

The Seychelles Fishing Authority (SFA) has updated its existing aquaculture policies in a bid to attract more investors in the sector especially in fin fish farming, said a top official.

The amendments to the Seychelles National Aquaculture Policy were approved by the Cabinet of Ministers on Wednesday.

They are based on seven key principles – good governance, environmental sustainability, coordinated support for the development of the sector, investment guidelines, marketing, development of human capital, and continuous research and development.

The head of the aquaculture department at SFA, Aubrey Lesperance, told reporters that one amendment is that the authorities are “encouraging big investments in fin fish – species that are found a bit further out at sea for example at around 50km from land and in depths of 100m and deeper.”

In his address at the opening of an aquaculture workshop on Wednesday, the Seychelles’ fisheries minister, Jean-Francois Ferrari, said that with these changes, “it is much more sustainable for holding larger farms and will give us better economic benefits as well as the yield of fish that we may be able to export.”

In 2018, the first Seychelles National Aquaculture Policy 2018-2022 was approved by the Cabinet, and in 2020, the first Aquaculture Regulations were gazetted.

Seychelles, an archipelago in the western Indian Ocean, is in the sixth year of using its current policy.

The proposed amendments took into consideration points raised by local partners who attended the workshop last year. They pointed out that they would like to have a specific policy that targets capacity building.

“So we are encouraging everyone not just government to include capacity building and train some youths as well as creating jobs for them in the sector to help diversify the economy,” said Lesperance.

Seychelles has an Exclusive Economic Zone (EEZ) of 1.4 million square kilometres and fisheries is the second top contributor to its economy.

“I know that on the fishing side, our fishermen are getting older and we are struggling to get them to join the sector, we are now giving the younger generation a new one in aquaculture and there are many scientific aspects to the sector that may interest them,” added Lesperance.

Meanwhile, the authorities are continuing to introduce training programmes to attract the younger generation into the sector.

“We have a very good partnership with Seychelles Maritime Academy that we want to reinforce and provide them with skills they will need to work on aquaculture farms,” explained Lesperance.

Source: Seychelles News Agency

Finance Ministry announced Monday it has recently made available 153 billion kwanzas for funding the production of food and animal protein, as part of the implementation of the Executive’s Economic Agenda – measures to stimulate the economy and boosting its potential.

In its press note, Ministry of Finance states that a public guarantee was issued for the financing of the 2024 agricultural campaign.

The financier – Angolan Investment Bank (BAI) contributed with the amount of Kz 43 billion, with a maturity of 12 months at an interest rate of 7% per annum.

As part of this process, financial institutions were recapitalised, such as the Credit Guarantee Fund (FGC) with the amount of Kz 50 billion, Development Bank of Angola (BDA) Kz 20 billion, Angolan Fund of Venture Capital (FACRA) Kz 5 billion and the same amount for FADA – Agrarian Development Support Fund.

Also according to Ministry of Finance, a budget allocation of Kz 30 billion was made to the Ministry of Agriculture for the acquisition of agricultural inputs to support family farming.

The Ministry of Finance clarifies that the said capitalisations implement the financial support measure for the business sector with a focus on small and medium-sized companies.

The move is meant to speed up and facilitate access to financial resources by private operators with initiatives leading to national economic diversification and strengthening of the country’s food security.

The source said the provision of the financing line contracted to BAI aims to promote the development of national agricultural production, as well as to boost large, medium and small commercial producers.

As for financial resources made available to the BDA, the institution justifies that this reflects the reaffirmation of the Executive’s focus on refocusing the aforementioned bank on the exercise of its function of supporting the promotion of diversification in sectors with high potential to generate dividends on economic growth, creation of jobs and the resilience of the national economy.

At the same time, it ensure the strengthening of national food security, through the operational of Planapesca, Planapecuária and support for initiatives within the scope of agricultural development.

For the financial resources granted to FACRA, Finance clarifies that it aims to support initiatives in the field of food security, through the development of logistical chains to facilitate storage, primary processing, conservation and the disposal of agricultural production centers.

Thus opening up, via the FACRA line of financing for private projects for the implementation of small industries (equipment) for the improvement of cereals, grains, coffee and cotton in production zones.

Meanwhile, the financial resources made available to FADA aim to support the Community Funds of agricultural cooperatives, which will be operated and made available by FADA under subsidised conditions, namely, at a maximum interest rate of 7% per year

Source: Angola Press News Agency (APNA)

Kenya National Chamber of Commerce and Industry Turkana Chapter Chairperson Justus Amoni has challenged the local business community to take advantage of upcoming Turkana tourism and cultural festival for the many untapped business opportunities.

The festival will kick off from September 25-27 at Ekaales Centre in Lodwar.

Amoni also challenged the county to invest in Ekalees Centre by planting trees and setting up permanent infrastructure for continuous operationalization of the centre, even after the festival.

He was speaking during a consultative meeting with partners working in Turkana to explore ways of mobilising resources to support the upcoming seventh edition of Turkana Tourism and Cultural Festival.

Deputy County Secretary Joseph Nyang’a thanked the partners for continued support to the government, as he hoped for overwhelming support in the forthcoming festival.

We appreciate your immense support in complementing the government’s efforts through implementation of high-impact projects. We still appeal for your support in making the event a big success next month, he added.

The County Executive for Tourism, Culture, Natural Resources and Climate Change, Dr Iris Mariao, noted that the much-needed strategic partnerships, especially on cluster coordination mechanisms, will help connect partners and investors in expanding resources to meet the financial gaps and create a breakthrough in holding the festival.

Dr. Mariao informed the partners that the 7th edition of Turkana Tourism and Cultural Festival has expanded from showcasing folk dances, Ekimwomwor and Naleyo, throughout the festival to exhibition of various cultural and creative arts products and artifacts.

‘This year’s festival will showcase an array of the rich cultural heritage of the Turkana people, including traditional food, colourful Turkana ushanga beadwork, traditional regalia, crafts and artefacts, folk songs and dances, oral narrations of the rich history and lifestyle of the Turkana community. Opportunities for exhibitions and sampling of the hospitality industry, including excursions to Lake Turkana, the world’s largest permanent desert lake, will be on display for our visiting guests,’ Mariao stressed.

Additionally, he told the partners that the festival will also bring together the Turkana community, the neighbouring counties, the pastoralists of Kenya, the Ateker communities of Karamojong from Uganda, Toposa from South Sudan and Nyangatom of Ethiopia, as well as their national, regional, international friends and other partners.

He emphasised the overall goal of the festival, which is to position Turkana County as the origin of mankind, the destination of choice for Cultural Tourism and promote indigenous climate change adaptation learning.

The Tourism and Culture Executive identified key areas of support and appealed to partners to consider: publicity and media coverage, greening Ekalees Cultural Centre, sponsorship for exhibitions and promotion of the hospitality sector.

On her part, the Chief Officer for Tourism, Culture and Heritage, Triza Amoni, revealed that her department is at advanced stage of investing and operationalizing the eco-lodges and the central island hiking trail.

She also disclosed, ‘the future of Ekalees Centre is to be a multi-purpose contemporary convention centre; the department is working on the concept note for the masterplan to modernise Ekalees Centre for the Arts and Cultural Heritage.’

Others who spoke were Boaz Ekiru (Ag. Director Natural Resources), Chuman Achumani (Public Communication), and Thomas Kaatho (Representative Council of Elders).

Representatives from Lokado, PanAfricare, USAID Nawiri, Skyward Express Airline, Kenya Breweries Limited (KBL), Napak Tented Camp, Ateker Hotel, Frontier and CREC-5 attended the partners meeting.

Source: Kenya News Agency

Kenya Industrial Estates (KIE) is on course to establish offices in every county in order to spur industrialization at grassroots.

State Department for Micro, Small and Medium Enterprises (MSMEs) Development Principal Secretary Susan Mang’eni has said the proposed KIE offices will avail expertise and credit services to investors so as to set up industries at county levels.

Mangeni noted that KIE has been operating in Nairobi, saying taking its services to other counties will improve local economies and create employment opportunities.

Speaking in Gatanga, Murang’a Friday, the PS stated that KIE has capacity to give loans amounting to millions of shillings to help industrialists establish processing firms, especially those targeting value addition of agricultural produce.

Mang’eni observed that the proposed industrial parks to be established in counties will greatly benefit from the KIE offices.

‘KIE has the mandate to promote small and medium industries with a focus on rural industrialization. Establishing offices in every county will therefore see prospective investors access finances, workspace, business development services and promotion of subcontracting linkages to micro, small and medium industries,’ remarked the PS.

She underscored the presence of KIE services at grassroots, saying this will pave way for small-scale businesses to flourish.

‘By offering both financial support and expert guidance, this will support growth of businesses at grassroots, thus changing the economic landscape,’ she added.

Mang’eni encouraged residents, especially those in rural areas, to embrace opportunities provided by the government for their personal advancement and growth of rural areas.

On the hustler fund, the PS said it’s time for people to form groups and apply for finances to do development projects.

She lauded residents of Murang’a County for repaying loans they have sourced from hustler fund while encouraging local residents to form groups and register as companies so as to benefit from more money from the kitty.

‘Murang’a is among counties with many people who have sourced money from hustler fund kitty. For instance, more than 60, 000 residents of Kandara constituency have borrowed a total of Sh. 140 million, while 76, 600 of their counterparts in Maragua borrowed Sh. 170 million.

Those who have borrowed the funds from this county have been repaying their loans without delay and now it’s time for them to form groups and access more money, which can be used to establish micro and medium industries,’ highlighted Mang’eni.

The PS further divulged that Sh 245.8 million from Uwezo Fund has been disbursed to 2,409 groups and institutions from Murang’a County.

‘The funds have benefited 1,581 women’s groups, 756 youth groups, and 72 groups of PWDs, as well as 37,992 individuals in the entire county.

There is a high absorption rate in the county as it stands at 160.64 percent, implying that all the funds received as allocations have been disbursed to groups and the repaid amounts have been used to fund the beneficiary groups,’ she added.

On her part, Uwezo Fund Oversight Board Chairperson Anne Wambui affirmed her commitment to support the mandate of the board by empowering the MSMEs at the grassroots level towards achieving a common goal.

Uwezo Fund CEO Peter Lengapiani applauded the collaboration between the national and county governments in supporting absorption of government funds urging all stakeholders to synergize towards achieving the common objective.

Some of local elected leaders who accompanied the PS called on the local residents to take advantage of the funds the government has set aside to assist growth of MSMEs.

Murang’a senator Joe Nyutu called upon youths who sometimes shy away from sources of finance from Youth Enterprise Fund to get guidance and apply for the money to support their business initiatives.

His sentiments were echoed by the county women’s representative, Betty Maina, who said with availability of funds, young people can establish small enterprises and avoid being indulged in drug and alcohol abuse.

‘There is money in Uwezo, Youth and Hustler Fund Kitties.’ We implore our young people to apply for these funds and do something to generate income instead of opting to abuse alcohol,’ said Betty.

Gatanga MP Edward Muriu pledged to support women and youths from his constituency to form groups and be able to access funds from various kitties.

Muriu said he will ensure formation of two women’s and two youth groups in each of the six wards in Gatanga, saying the groups will be able to source tenders from the local NG-CDF.

On the occasion held at Ndunyu Chege market, Sh 4 million of Uwezo Fund were issued to 17 new groups and 15 groups for refinancing.

Source: Kenya News Agency

The stock market ended the week on a gloomy note, weighed down by the poor performance of its heavyweights (-0.7% for the banking sector and -2.3% for the agri-food sector). According to Tunisie valeurs’ weekly analysis for the week from August 21 to 25, the benchmark index fell by 0.4% to 8849.4 points, bringing its annual performance to +9.1%.

In the absence of block trades, trading was thin during the week. A total of TND 16.5 million was traded on the market, an average daily flow of TND 3.3 million.

Stock analysis

STIP was the session’s top performer. The shares of Tunisia’s only tyre manufacturer rose by 15% to TND 4.600. The stock traded on a very limited volume of TND 17,000 dinars. The group, which recently published its consolidated financial statements for the 2022 financial year, posted a 24.1% increase in sales last year to TND 151.5 million.

On the other hand, STIP’s net profitability deteriorated from TND 24.2 million in 2021 to TND 11.9 million in 2022. Finally, it should be noted that the company will hold its Annual General Meeting on August 30 at 11.00 a.m. at the Msaken plant.

Carthage Cement shares also performed well during the week. The state-owned cement company’s share price rose by 4.7% to TND 2.210, generating capital of TND 1.4 million. Since the beginning of 2023, CC has posted a commendable performance of +16.3%.

Contrary to STIP, SOMOCER was the most neglected stock in the industrials sector during the week. The share price of the ceramic tile specialist suffered a correction of -6.7% to TND 0.700. Only TND 108,000 were traded.

Also on the downside, BIAT shares fell 4.4% to TND 90,000. During the week, the share of Tunisia’s number one bank provided the market with TND 4 million of capital, the highest volume on the stock market.

Source: Agence Tunis Afrique Presse

Minister of State for Economic Coordination José de Lima Massano announced Wednesday in Johannesburg, South Africa, that the Angolan Government will set, in the coming weeks, minimum prices for certain products, as part of the strategy to ensure food security.

José de Lima Massano announced so while speaking to National Radio of Angola (RNA), on the sidelines of a visit to the BRICS fair.

The official, who did not provide further details on the referred products, added that currently in Angola there is a table of food products, covering a total of 32, under monitored prices.

The move is part of Presidential Decree nr.206/11, of 29 July, which establishes the general bases for the organisation of the national prices.

On food security, Lima Massano said that Angola has to make great pregress and gain greater autonomy and ensure that production is able to be consumed by citizens, that is, people must have sufficient income to purchase them.

Belarus aims to support food security

Still on the sidelines of the BRICS Summit, Angola and Belarus on Wednesday expressed interest in strengthening economic relations in the field of agriculture, with a focus on food security, one of the challenges for the Executive.

According to the publication of the Angolan newspaper “Jornal de Angola”, to which ANGOP had access, representatives from the two countries held a meeting as part of strengthening bilateral relations.

The minister of Foreign Affairs of Belarus, Sergei Aleinir, who represented his country at the meeting, where the Angolan delegation is led by the Minister of State for Economic Coordination, José de Lima Massano, guaranteed to maintain the focus on the sector of agriculture to ensure security to feed.

“Belarus has a lot to offer, ranging from agricultural equipment, fertilizers to other equipment,” he pointed out.

To Sergei Aleinir, his country is available to develop a programme for agriculture in Angola, which can be extended to other sectors.

Belarusian head of diplomacy said that the possibility of a working visit by the Angolan Minister of Agriculture to Belarus had also been discussed.

Belarus’s economy is diversified, with agriculture and manufacturing as its main activities. However, trade is another area of great importance in large centres.

Source: Angola Press News Agency (APNA)