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EAC Trade Fair

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EAC Trade Fair

Introduction to the 24th East African Community MSMEs Trade Fair

The stage is set for the 24th East African Community (EAC) Micro, Small and Medium Enterprises (MSMEs) Trade Fair, which will take place from October 26th to November 5th, 2024, in Juba, South Sudan. This event is expected to be a landmark occasion, showcasing the dynamism and innovation of small and medium-sized enterprises across East Africa.

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Objective and Expected Outcomes

The main objective of the trade fair is to promote trade, investment, and economic growth within the region. It aims to provide a platform for entrepreneurs, businesses, and stakeholders to connect, collaborate, and explore new market opportunities. Over 1,500 exhibitors from EAC Partner States are expected to attend, making it a significant event for the region’s economic development.

Theme and Activities

This year’s trade fair is themed "Promotional of unique innovation and skills development amongst EAC MSMEs." The event will feature a daily symposium designed to enhance awareness and the capacity of MSMEs. The symposia will cover crucial topics such as the elimination of non-tariff barriers, financing of MSME activities, enhancing research and development of MSMEs production, exploring opportunities under the African Continental Free Trade Area (AfCFTA), formalization of MSMEs businesses, and business opportunities in South Sudan.

Cultural Diversity and Exhibitions

The fair will also showcase the rich cultural diversity of the EAC Partner States through performances and exhibitions. This aspect of the event celebrates the unique heritage of each member state, including Burundi, Democratic Republic of Congo, Kenya, Rwanda, Federal Republic of Somalia, Uganda, United Republic of Tanzania, and the host nation, South Sudan.

Welcome and Expectations

Speaking ahead of the MSMEs Trade Fair, the EAC Deputy Secretary General in charge of Customs, Trade and Monetary Affairs, Ms. Annette Ssemuwemba, welcomed all participants to the trade fair. She expressed excitement about the event, highlighting its importance as a platform for entrepreneurs to showcase their contributions to the economy, share experiences, and build lasting connections that will drive regional growth. The Deputy Secretary-General anticipates that the fair will attract thousands of visitors, including business owners, practitioners, policymakers, and members of the general public.

History of the Trade Fair

The first EAC MSMEs Trade Fair was held in Arusha in November 1999, during the historic signing of the Treaty for the Establishment of the East African Community. Following its success, the EAC Heads of State directed that the trade fair be held annually on a rotational basis among the EAC Partner States. This decision aims to enhance socio-economic integration, open up new market frontiers for products, and bridge knowledge and technological gaps among the partner states.

Conclusion

The 24th East African Community MSMEs Trade Fair promises to be a significant event for the region, fostering economic growth, innovation, and cooperation among East African countries. By providing a platform for MSMEs to showcase their products and services, the trade fair plays a crucial role in promoting trade and investment within the region. As the event approaches, anticipation builds among entrepreneurs, businesses, and stakeholders, all eager to explore the opportunities and innovations that the fair will bring. The success of this event will not only reflect the dynamism of East Africa’s MSMEs but also contribute to the region’s economic development and integration.

Finance

Stocks with significant premarket movements: Pinterest, Lyft, Coinbase, BP, Affirm and others

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Stocks with significant premarket movements: Pinterest, Lyft, Coinbase, BP, Affirm and others

These are the stocks posting the largest moves in premarket trading

Introduction

As the stock market opens for the day, investors are keeping a close eye on premarket trading to see which stocks are making big moves before the market officially opens. Pre-market trading can give investors a glimpse into how a stock will perform once the market opens, making it a crucial time for many traders.

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Top Stocks in Premarket Trading

1. Tesla Inc. (TSLA)

  • Tesla is one of the most talked-about stocks in premarket trading today, with a significant increase in volume and price movement.
  • Investors are closely watching Tesla as the company continues to dominate the electric vehicle market and expand its operations globally.
  • The stock has been known for its volatility, making it a favorite among day traders looking for quick gains.

2. Apple Inc. (AAPL)

  • Apple is another stock that is making waves in premarket trading, with investors eagerly awaiting the latest news on new product releases and sales figures.
  • The tech giant is known for its consistent performance and loyal customer base, making it a popular choice for long-term investors.
  • With the recent announcement of new iPhone models and updates to its software, Apple is expected to continue its upward trajectory in the stock market.

3. Amazon.com Inc. (AMZN)

  • Amazon is a behemoth in the e-commerce industry, and its stock is reflecting that in premarket trading with strong gains.
  • The company’s diverse business model and strong leadership have made it a favorite among investors looking for stable returns.
  • As more consumers turn to online shopping, Amazon is poised to continue its growth and expand into new markets.

Why Pre-market Trading Matters

Premarket trading can give investors valuable insights into how a stock will perform once the market officially opens. By monitoring premarket activity, investors can make informed decisions about buying, selling, or holding onto their positions. It also allows traders to react quickly to breaking news or market trends that may impact a stock’s performance.

Additionally, premarket trading can be a good indicator of market sentiment and overall investor confidence. If a stock is seeing strong gains in premarket trading, it may signal that investors are optimistic about the company’s future prospects. On the other hand, if a stock is experiencing losses in premarket trading, it could indicate concerns about the company’s performance or external factors affecting the market.

Conclusion

Overall, premarket trading is an important time for investors to gauge market sentiment and make informed decisions about their investments. By keeping a close eye on which stocks are posting the largest moves in premarket trading, investors can stay ahead of the curve and position themselves for success in the stock market.

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Kiir supports the recommendations of the 17 Trade Forum

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Kiir supports the recommendations of the 17 Trade Forum

The First National Trade Forum in South Sudan: A Step Towards Economic Recovery

Introduction

President Salva Kiir has endorsed the 17 recommendations adopted at South Sudan’s First National Trade Forum ended in Juba last month. The forum came out with several resolutions, including connecting affordable and consistent electricity across the country, removal of illegal checkpoints, and initiation of legal system reforms to support businesses, and better loan accessibility for locals.

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Focus on Economic Growth

The forum, organized by the Ministry of Trade and Industry, focused on fostering economic growth, attracting investment, and improving South Sudan’s business environment. The goal was to create a more conducive environment for businesses to thrive and contribute to the country’s overall economic development.

President Kiir’s Commitment

In his remarks after receiving the document from Minister Atong Kuol Manyang, President Kiir acknowledged the concerns and assured the business community of the government’s commitment to supporting reforms that reduce trade barriers, stabilize markets, and restore investor confidence. He emphasized the importance of empowering local traders and urged the Ministry to prioritize policies that benefit the broader population and stimulate economic growth.

National Trade Forum Launch

On 24 April 2025, South Sudan launched its first National Trade Forum, convening investors from the private and public sectors to brainstorm ways to address the country’s persistent economic challenges. The two-day event held under the theme Understanding Private Sector Challenges and Solutions on Matters that Affect the Business Environment for Sustainable Consultation.

Key Challenges Identified

During her opening remarks at the forum, Minister Atong identified weak information technology, inadequate infrastructure, and ongoing conflict as key drivers of economic instability in the East African nation. She also highlighted illegal taxes and excessive roadblocks as key issues undermining economic stability. These barriers have been causing traders to raise commodity prices to offset their losses, further reducing the purchasing power of ordinary citizens.

Conclusion

The First National Trade Forum in South Sudan marks a significant step towards economic recovery and growth in the country. By addressing key challenges, fostering investment, and implementing reforms to support businesses, the government is paving the way for a more prosperous future for all South Sudanese. With a commitment to empowering local traders and prioritizing policies that benefit the broader population, the forum sets a positive tone for the country’s economic development.

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Finance

Water prices to increase by 50% announces water purification companies

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Water prices to increase by 50% announces water purification companies

Water Prices in Juba Spike by 50% Due to Rising Production Costs

Reasons Behind the Price Hike

  • The Water Abstraction Company Association Group has increased water prices by 50% in Juba.
  • This hike is attributed to the high cost of production, including electricity and water purification chemicals.
  • The rising exchange rate of the U.S. dollar has also impacted the cost of production.

Impact on Consumers

  • Consumers in Juba now face almost double the initial price imposed by private water distribution companies.
  • A 30-drum tanker truck that used to sell at SSP28,000 is now SSP42,000.
  • A tanker truck with a capacity of 15 drums that initially sold at SSP13,000 is now SSP21,000.
  • This represents a 50% hike in less than two months.

Concerns and Reactions

  • SSUWC Director Yar Paul Kuol emphasized that selling water at the previous price would lead to operational losses.
  • Edmond Yakani, Executive Director of CEPO, called on the government to intervene for the welfare of citizens.
  • Yakani questioned the sharp increase in water prices due to electricity costs and access to hard currency.

Government Intervention Needed

  • With the sharp increase in water prices affecting consumers in Juba, there is a need for government intervention.
  • Yakani urged the leadership at various levels to review the issue of water price hikes blamed on electricity costs.
  • The access to hard currency should not create an economic burden for the residents of Juba.

Conclusion

  • The spike in water prices in Juba has put a strain on consumers, with prices almost doubling in a short period.
  • The reasons behind the price hike, including high production costs and the exchange rate of the U.S. dollar, have impacted the affordability of water for residents.
  • Government intervention is needed to address the issue and ensure the welfare of citizens in Juba.
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