TMEA cross-border trade projects to reach USD 100 million

Friday 3 October 2014 14:31 CET | News

Trademark East Africa (TMEA), the non-profit organisation spearheading trade integration across the block, has invested about USD 100 million in the upgrade of one-stop border posts.

TMEA has claimed that the project will enhance cross-border trade and improve business competitiveness by reducing the time spent to clear cargo on transit, reports.

As of now, the construction at the Holili-Taveta one-stop border post at the Kenya-Tanzania border is complete, enabling controls that will save time and money for traders ferrying goods into Northern Tanzania. It is expected to be officially opened in 2015.

Frank Matsaert, CEO TMEA, has informed that the association is working on the Busia and Malaba border posts to upgrade the facilities, as well as work towards improving the management of work processes and eventually easing transit times.

Private sector advocacy in the tourism sector that has resulted in joint initiatives designed to boost tourism is seen as an end result of previous implementations of the project. The group has overseen the strengthening of the Burundi Revenue Authority that has resulted in improved tax compliance for the Kenya.

TMEA is supported by 7 development partners including the US, Netherlands, Canada, UK, Denmark, Finland, Belgium and Sweden.

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Keywords: Africa, TMEA, trade integration, cross-border, ecommerce, investment, Kenya, retailers, market, sales
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce