East Africa governments told to harmonise trade terms

Speaking during a workshop organised by the Kenya Rwanda Business Association (KRBA), company Operations Director Thiagarajan Ramamurthy said the existing tax and related trade terms coupled by non-tariff barriers were slowing down the pace of regional trade. His comments come ahead of the chain's official opening of its first outlet outside Kenya in Kigali Rwanda. Ramamurthy noted that both tariff and non tariff barriers were impacting negatively on the private sectors efforts to trade in the region.

As part of its expansion strategy, Nakumatt Holdings in partnership with Rwandese investors will be facilitating the investment of more than US$20 million for its two up-coming outlets in Rwanda.

Rwanda's Minister for Trade, Industry and Tourism, Monique Nsanzabaganwa also attended the workshop. “Even with all the perceived challenges, Rwanda remains an ideal investment and trade market for Kenyan investors given that the trade regime adopted by Rwanda is extremely attractive and welcoming for external investors,” Ramamurthy said.

While describing the two governments as supportive, the company chief reiterated that a harmonised trade structure between the two countries would go a long way in furthering trade interests. “Although still at its infancy, I am proud to confirm that the two governments have taken positive first steps to facilitate bilateral trade between the two countries,” he said.

In its expansion project to Rwanda, the company is currently remodelling the former Kigali City Market Supermarket to its standards and ambience ahead of its scheduled opening late next month. Its City Centre branch in the heart of Kigali city, will stock a range of more than 20,000 products.