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By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- The ECOWAS Bank for Investment and Development (EBID) has approved a €40 million framework agreement with the ODDO BHF Aktiengesellschaft, a Franco-German financial services group with a longstanding track record and expertise in trade financing. The account in question would be utilized to enhance the chances for Small and Medium scale Enterprises (SMEs) and trades to facilitate them in a bid to subscribe to the economic expansion in the landmass, generate job by funding projects in areas such as renewable energy, agribusiness and pharmaceutical production. The treaty was ratified by the President of the EBID – Dr. George Donkor and the Head of International and Corporate Banking at ODDO BHF –...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra- Ghana has on March 3, 2021 signed a trade partnership agreement with UK that secures tariff-free trade and provides a platform for greater economic and cultural cooperation. The deal supports a trading relationship worth £1.2 billion and reinstates the terms of the economic partnership agreement between the two sides when the UK was part of the EU. It means Ghanaian products including bananas, tinned tuna and cocoa will benefit from tariff free access to the United Kingdom. UK exports are also in line to benefit from tariff liberalization from 2023, including machinery, electronics and chemical products. The agreement was signed by Secretary of State for International Trade Liz Truss and Ghana’s Acting High Commissioner to the UK,...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- As rampant smuggling of different products threatens to cripple the local manufacturing industry, economics professor at the Polytechinic —a constituent college of the University of Malawi— Betchani Tchereni, has urged government to seriously consider strong measures that can help to curb the malpractice. Professor Tchereni at the Polytechnic – a constituent college of the University of Malawi stated: It is when the price of smuggling is meagerer than the cost of bringing goods the right way that people resort to smuggling. There has been a severe surge in the smuggling of items like wheat flour, cooking oil, fizzy drinks and wrappers, passing through Karonga, Mulanje, Ntcheu, Dedza, Thyolo and Mchinji...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra, Ghana- Customers in Singapore and across the world will now have easy access to some of Rwanda’s traditional products following a move by the country’s leading online supermarket, RedMart, to trade them online. The development was announced by Jean de Dieu Uwihanganye, Rwanda’s High Commissioner to Singapore on Monday, March 1. According to Amb. Uwihanganye, the traditional products including coffee will also debut on the National Trades Union Congress (NTUC) FairPrice, Singapore’s largest supermarket chain. The company has 100 supermarkets across the country. “Rwanda’s products are now on the most popular e-commerce platforms in Singapore and the largest supermarket chain. Coffee and Kawah are now on RedMart and Shopee SG. Kawah...