Connecting Africa’s Skilled Professionals
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Cultural agility is the most desirable graduate skill cited by multinational employers, well above the ability to speak a second language, according to new research. An "ability to work collaboratively with teams of people from a range of backgrounds and countries" was ranked top in a list of key traits defined in a study by the Association of Graduate Recruiters (AGR), Council for Industry and Higher Education (CIHE) and research agency CFE. This was followed by "excellent communication skills" and "drive and resilience'. Multilingualism was prioritised 11th out of 14 competencies identified by leading international employers, who collectively employ 3,500 graduates in the UK. Other desirable core skills included a global knowledge and mindset, self-awareness, team-working ability and the capacity to learn quickly. But the research also highlighted that the 'external mobility' of UK students was low, suggesting that they lagged behind their international counterparts and needed to focus on developing global employability skills to compete in the international marketplace. While there are 370,000 foreign students studying in the UK – making it the second most popular destination, estimates suggest there are just 33,000 UK students studying abroad – ranking the country 34th for the external mobility of its students. The report called for a greater focus by educational initiations on the "more holistic" development of UK graduates – including an international dimension to curricula and additional overseas placements.
Nestlé is to create 300 new jobs in the UK and establish a talent academy for graduates and apprentices. The additional roles will be available at the company's coffee manufacturing site in Derbyshire, following a £110 million investment to extend the plant and treble production capacity. The Tutbury factory's workforce has grown from 160 to 500 employees since 2006, and the workforce will now expand to 800 by 2013. Of the 300 new recruits, some will form part of the first intake into the Nestlé Academy – a new initiative which sees the company commit to doubling its number of graduates, apprentices and internships. In 2012, the firm plans to boost its gradate intake to 50 places and open up a further 22 placements for university interns. Nestlé has also launched a new "confectionary apprenticeship" and intends to broaden its existing programmes across the HR, finance and supply chain functions, doubling apprentice numbers to 100 by the end of next year. Nestlé said the academy would "grow our own team of future leaders" and focus on "developing a commercially driven work force" to move the business forward. The employer added it would work with universities to improve the employability of students and attract interns and graduates.
Almost half of under-24s say they would not work for a company where social media was banned, a survey has claimed. The research by recruitment provider Hyphen, which surveyed 1,000 people, found that 48 per cent of people aged 16-24 reject the idea of a workplace where social networking tools were prohibited. Six out of ten (59 per cent) of the same group believe that using social media increases their effectiveness as an employee. Attachment to social media drops off markedly for older age groups, with only 28 per cent of 35-44 year olds, and 20 per cent of those aged 45-54, objecting to a ban. The findings show that employers are out of touch with 'Generation Facebook' who expect to be able to communicate using their chosen method, said the researchers. The research suggests that employer concerns over employees wasting time on social networking sites could be ill-founded, with over half (55.5 per cent) of the total UK workforce claiming to spend less than 10 minutes a day on their personal affairs. Almost a third (31 per cent) of all workers say they do not use social media for personal use at all during work time.
The new Exporting for Growth Prize Competition aims to encourage more small businesses in the UK to take their products to overseas markets by offering a comprehensive package of support to the company with the best export idea. Winners will receive UKTI support worth up to £5,000 and three grants for overseas travel to their target markets, plus expert business knowledge and insight from sponsor companies. Additionally, UKTI will provide access to a range of free services. Runners-up and shortlisted companies will also benefit from access to UKTI service offers. All eligible companies will have access to professional mentoring support to develop their audition pitch, time with an international trade adviser and, subject to eligibility and resource, an opportunity to be considered for UKTI's Passport to Export programme (with £1,000 of Business Development Credits) or Gateway to Global Growth programmes and other UKTI initiatives. The Competition is open to UK-based SMEs. To be considered for entry, applicants must be eligible for UKTI services and be an SME according to the EU definition. UKTI is particularly interested to hear from first time or novice exporters. The deadline for the receipt of applications is 13 January 2012. To find out more about the Competition and to download an entry form, visit www.ukti.gov.uk/exportingforgrowthprize
The majority of UK women in senior roles support the idea of job sharing and would like to be given the opportunity to try it in their organisations, according to a study. Nearly two-thirds (61 per cent) of senior women say they would welcome the opportunity of job sharing, found the research by campaign group Working Families and diversity recruitment specialist Capability Jane. The ability to enjoy a better work-life balance, while still maintaining career progression, was identified by survey respondents as the main reason for job sharing. Other benefits included the ability to 'switch off' when accountability is handed over, and having two 'heads' focused on a single role. The survey suggested that effective job sharing could help retain senior female professionals, with 90 per cent agreeing that it could make the difference between staying with or leaving an organisation. The study was supported by a number of senior employers who are either already using job sharing or investigating the feasibility of doing so. These included Centrica, Deloitte, DHL, Freshfields, Herbert Smith, KPMG and RBS. It concluded that there was a 'sound business case' for job sharing with employers seeing the benefits including retention, better absence cover and an energetic and focused team. However, making job share arrangements work requires a high level of commitment from the participants – including the need to communicate out of hours and show flexibility – and job sharers often needed to 'go the extra mile' to prove themselves, the report said.
A total of 250 employers are to start offering degree-level apprenticeships for the first time as a result of the government's latest funding, it has been revealed. Burberry, Unilever, TNT and Leyland Trucks were among the firms to have won bids to have their new apprentice programmes assisted by a £25 million funding pot. Around 19,000 higher apprenticeships will be created in total, it was revealed. A wide range of sectors are represented including construction, advanced engineering, insurance and financial services. There is a particular focus on science, IT and manufacturing, with 6,000 of the apprenticeships accounted for by 'trailblazer' projects in those areas. The qualifications will be delivered through nineteen 'partnerships' with colleges and training providers: those which have been successful include Chesterfield College, Hull College, Leeds College of Building, Middlesex University, North West Kent College and the Northwest Automotive Alliance. Making the announcement on a visit to distribution company TNT, business secretary Vince Cable said the goal was to offer higher apprenticeships that are as good as a university degree.
To enter the competition, you must be an African National, working on the continent for African owned, or headquartered, media organisations. Your work must have appeared in printed publications or electronic media that is primarily targeted at and received by an African audience. The juddges, independent, highly respected and experienced judges, are looking for entries which: tell the story in a balanced, comprehensive and objective manner, demonstrate journalistic integrity and resourcefulness, communicate the story in a way that makes the topic accessible and relevant to their audience, display well organised research and insight. Stories must have been broadcast or published, in English, French or Portuguese only, between January and December 2011 with proof supplied. Entries must be received at the collection points by 26 January 2012. No exceptions will be made. Entries received after this date may be disqualified. The journalists selected by our panel of judges will enjoy an all expenses paid finalists' programme of networking activities and workshops, culminating in the Gala Awards Ceremony. Each finalist will receive a cash prize, with each category winner also receiving a laptop computer and printer. The CNN MultiChoice African Journalist 2012 Award winner will be selected from the category winners and will receive an additional cash prize and will have the opportunity to participate in the CNN Journalism Fellowship at CNN Headquarters in Atlanta.
Cordes Fellowships provide exceptional social entrepreneurs and non-profit leaders engaged in poverty alleviation and economic justice enterprises the opportunity to participate as Delegates in the Opportunity Collaboration. The purpose of the Cordes Fellowship program is to (a) open doors, minds and networks for emerging social entrepreneurs and non-profit executives (b) enrich the Opportunity Collaboration with new, emerging leaders and (c) infuse the collaborative discussions with a diversity of perspectives. In total, 50 Fellows take part in all aspects of the Opportunity Collaboration. In addition, Fellows earn a certificate of completion awarded by the University of the Pacific Global Center for Social Entrepreneurship. Fellows attend three ninety minute courses on areas critical to the success of organizations and individuals creating social impact and combating poverty. Fellows are expected to attend the full Opportunity Collaboration in Ixtapa, Mexico, and participate in the on-site University of the Pacific Global Center for Social Entrepreneurship program. Successful Cordes Fellowship applicants are high-impact, innovative, entrepreneurial for-profit and non-profit organization executives with a demonstrated commitment to economic justice and poverty alleviation. Fellows are catalytic leaders who by their actions and accomplishments evidence pragmatic vision, passionate tenacity, multi-sectoral thinking, adaptive leadership skills, non-ideological activism and a strong ethical grounding. Financial need is a primary consideration. Applicants from both non-profit and for-profit organizations with adequate resources are less likely to be selected for a Cordes Fellowship. Fellows selected from non-OECD countries (developing economies) receive a $4,750.00 full scholarship, and pay no registration fee. Fellows from OECD countries (developed economies) receive a $4,000.00 scholarship, and pay a $750.00 registration fee. The application period is now open and closes on January 31, 2012. Applications are reviewed on a first-come, first-served basis. Late applications will not be considered. All applicants will be notified by e-mail regarding the outcome of their application within 30 days of receipt.
The UK Business Excellence Awards are open to all businesses of any size, from any sector. The benefits of winning an award include the chance to find out how good an organisation is, and it is a unique way to motivate employees at all levels. The three main aims of the Awards are to: assist organisations to improve; identify role models to demonstrate what can be achieved; and recognise those who have shown exceptional ability and performance in the management of their organisation. There are five entry categories for the 2012 UK Excellence Awards, as follows: Private sector with more than 250 employees; Private sector with less than 250 employees; Public sector with more than 250 employees; Public sector with less than 250 employees; Operational Unit (of a parent organisation, provided it is run as an independent cost centre – eg factories, assembly plants, sales and marketing functions, research and distribution units). The deadline for registering intent to apply is 20 January 2012. The final submission deadline is 20 April 2012. Click here for further details.
The Centre of Memory at the Nelson Mandela Foundation has recently experienced an upsurge in requests to facilitate personal messages from Madiba in support of events, commemorations and campaigns and is appealing to the public to respect Mr. Mandela's wish to retire. The Centre says, "Madiba has over the years repeatedly stated his wish to retire from public life. Perhaps his most emphatic call was made in 2008 at his birthday celebrations where he called on a new generation of leaders to take responsibility when he said "It is in your Hands". We wish to reiterate previous statements issued by the Centre of Memory, that out of respect for Madiba's wishes, the Centre no longer facilitates requests for fresh messages from him or his personal participation in or endorsement of campaigns. As an alternative, in support of worthy humanitarian causes or important commemorative events, we make available historical statements from the Centre's archives. Such quotations cannot of course be used for fund raising or commercial purposes." The Centre asks for the public to make Madiba's retirement a reality "so that he can enjoy some peace and privacy after so many decades of selfless public service."
Sub-Saharan African countries that invest in training doctors have ended up losing $2 billion as the expert clinicians leave home to find work in more prosperous developed nations. A study by Canadian scientists found that South Africa and Zimbabwe suffer the worst economic losses due to doctors emigrating, while Australia, Canada, Britain and the United States benefit the most from recruiting doctors trained abroad. The scientists, led by Edward Mills, chair of global health at the University of Ottawa, called on destination countries to recognize this imbalance and invest more in training and developing health systems in the countries that lose out. In the study published in the British Medical Journal, the scientists noted that developing countries are effectively paying to train staff who then support the health services of developed countries. Experts say the migration, or "brain drain," of trained health workers from poorer countries to richer ones exacerbates the problem of already weak health systems in low-income countries battling epidemics of infectious diseases like HIV/AIDS and tuberculosis (TB) and malaria. The World Health Organization adopted a code of practice in 2010 on international recruitment of health personnel that highlighted the problem of doctor brain drains and called on wealthy countries to offer financial help to poorer ones affected. The code is seen as particularly important for sub-Saharan Africa, which suffers from a critical shortage of doctors and has a high prevalence of diseases such as HIV, TB and malaria. The latest United Nations global HIV/AIDS report released on Monday found that 68 percent of the around 34 million people worldwide who have the human immunodeficiency virus (HIV) that causes AIDS live in Africa. Using various data including published reports on primary and secondary school spending from UNESCO, Mills' team estimated the cost of educating a doctor through primary, secondary and medical school in nine sub-Saharan countries with some of the world's highest rates of HIV. The countries studied included Ethiopia, Kenya, Malawi, Nigeria, South Africa, Tanzania, Uganda, Zambia and Zimbabwe. The research team then added the figures together to estimate how much the origin countries paid to train doctors and how much the destination countries saved in employing them. The results show that these governments spend between $21,000, the figure for Uganda, and $59,000, in South Africa, to train a doctor, only to see them in many cases migrate to richer countries. Among the nine sub-Saharan African countries most affected by HIV/AIDS, more than $2 billion of investment was lost through the emigration of trained doctors, the researchers said, with their results indicating that South Africa incurs the highest costs for medical education and the greatest lost returns on investment. The findings suggested the benefit to Britain was around $2.7 billion, and to the United States was around $846 million. Australia was estimated to have benefited to the tune of $621 million and Canada was $384 million better off.
Actis is reportedly working on plans to exit its 80 % stake in Rwanda-based bank Banque Commerciale du Rwanda (BCR). The private equity investor backed the privatization of BCR in 2004 in a transaction that valued the bank at $6.05m. The government of Rwanda owns a 19.8 % stake in the bank, while 0.02% is held by undisclosed investors. BCR was incorporated in 1963 as the first commercial bank in Rwanda. Headquartered in Kigali, the bank reported profits of $6.6m (FRw3.9bn) for the year ending December 2010, up 175% from $2.4m in the previous period.
Nova Capital Equity Research (NCER), a subsidiary of Nova Capital Global Markets, has launched African Equities Research services. NCER is an independent equities research platform that plans to provide hedge funds, money managers, private equity firms, and multinational corporations with proprietary Africa-focused market intelligence. The research will be offered within a broad context that is designed to measure political and economic risk as well as providing an understanding of the cultural nuances of this dynamic market. "This is the last real investment frontier, yet it still remains shrouded in mystery to much of the institutional investment community," said David Levin, Nova's senior managing partner. "Our research is a real value-add to investors due to the depth of our reach throughout Africa."
The World Bank and the African Union have taken steps to lower the cost of sending remittances to and within Africa by launching an online database that will help increase transparency about prices and stimulate greater competition among service providers. The database, Send Money Africa, is a years-in-the-making partnership between the Bank, the African Union Commission, and donors. Through its interface, migrants can compare the cost that remittance service providers charge to send a particular amount to a given country. The World Bank estimates that about 120 million people in Africa receive money from about 30 million relatives and friends who left their home country, for a total of US$ 40 billion a year. However, when it comes to choosing which operator to use to send money to Africa, too often migrants do not have the necessary data to make an informed choice. According to the World Bank "Remittance Prices Worldwide" database, Africa is the most expensive region of the world to send money to. The average cost of sending money to Africa is over 12 percent of the amount sent, compared to a global average cost of 9 percent. At present, Send Money Africa provides data on the cost of sending and receiving relatively small amounts of money (the equivalent of US$200 and 500) from 15 major sending countries worldwide as well as in Africa to 27 African receiving countries. Research has shown that if the cost of sending money could be reduced by 5 percentage points relative to the total amount sent, remittance recipients in developing countries would receive over US$16 billion more each year than they do now. In Africa, where remittances represent the second largest source of foreign inflows after foreign direct investment, this added income could provide recipients and their communities with more opportunities for consumption, savings, and investment in local economies. The database also contains useful information on the methods that can be used to send money, the actual amount of money that is received in local currency by families and friends in the home country, the time needed before the remittance is available to the recipient, the places where the money can be collected, the exchange rates applied to the transaction, and more. Send Money Africa is published by the Payment Systems Development Group of the World Bank Financial and Private Sector Development Vice Presidency, in the context of the African Institute for Remittances (AIR) Project, which is managed by the Africa Diaspora Program unit of the World Bank Africa Region Vice Presidency.
According to experts, there is a growing trend of white expatriates coming home. An estimated 800000 white South Africans moved overseas, mainly to Britain, Australia and New Zealand, between 1991 and 2001, census data show. The exodus amounted to about 15% of South Africa's white population. But now it appears to be slowing and even reversing. Census figures show the white population is at 4.5-million, the highest since 1991. Experts say that the failing economies of the West and resultant poor job prospects have contributed to the numbers of South Africans returning home. By contrast, South Africa's economy has grown steadily since the first all-race elections in 1994. It suffered a recession in 2009 that lasted only nine months and was less severe than in the rest of the world. Although unemployment is around 25%, skilled professionals are in demand. The Labour Department estimated in 2008 that South Africa needed 913000 professionals with "scarce skills" to fill job openings.
Francophone Africa focused investor Cauris has received a €5million from the African Development Bank (AfDB) for its Cauris Croissance II fund (FCC II). The fund is targeting €60m at final close and as of end of 2010 had raised €45million. FCC II's current backers include the Commonwealth Development Corporation (CDC), which has committed €8million. The vehicle will back companies in the West Africa Economic and Monetary Union region which has about 93 million people and a combined GDP of €37billion. Focus will be on Burkina Faso, Benin, Côte d'Ivoire, Guinea, Mali, Niger, Senegal and Togo. Cauris is primarily looking to finance companies that operate in the financial services, manufacturing, information technology, and infrastructure sectors. FCC II is looking for 15 companies across the region and plans to commit between €2m and €5m in to each deal. Cauris Management is based in Lomé, Togo and headed by Noël Eklo.
Aureos has raised $75.4 million for its Africa Health Fund (AHF), against the fund's $100million target. Launched in June 2009, AHF is a specialist pilot fund anchored by four cornerstone investors who collectively contributed $57million towards the first closing in 2009. The International Finance Corporation and the African Development Bank each committed $20 million, while $7 million came from the Bill & Melinda Gates Foundation. The Deutsche Investitions-und Entwicklungsgesellschaft mbH (DEG) contributed $10 million. The fund has additionally received commitments from a number of other investors including the Elma Foundation, the Maria Wrigley Trust, ASN Bank, and the Norwegian Investment Fund for Developing Countries (Norfund). AHF is structured to make investments of $0.25million and $5million and will particularly target companies serving low income communities. All investments will be in the form of equity or quasi-equity and the fund manager will look for exit from each investment in 5 to 7 years. Among the list of companies Aureos is interested in backing from the fund are primary care providers such as clinics, hospitals, diagnostic centers and laboratories. Risk pooling and financing companies are also on the fund's investment radar, including health management groups and insurance companies. The investor will also inject capital in distribution and retail companies such as eye clinics, pharmacies and logistics companies. Suitable pharmaceutical and medical manufacturing companies, and medical schools, should also expect to be considered for investment. Although the fund will look to invest across the whole sub-Saharan Africa region, particular focus will be on companies operating in Nigeria, Ghana, Cote d'Ivoire, Senegal, Kenya, Tanzania, Uganda, Mozambique, Zambia, Angola, Rwanda, Burundi, DRC, South Africa, and Ethiopia. The fund has so far executed four deals from the fund, three of which are in Kenya. The Kenya-based deals include a $2.8million investment in Revital Healthcare, an estimated $ 2.5million in Nairobi Women's Hospital, and another $2.5milllion in the Avenue Group. Aureos' has also injected $4.5million in Ghana-based C&J Medicare.
Commercial oil production will help boost economic growth in Niger to 8.5 percent next year, over double the 3.8 percent forecast for this year, the West African regional central bank BCEAO estimated. Niger is due start supplying oil from domestic reserves to its new refinery in the eastern town of Zinder from December 1 for refining at a rate of 20,000 barrels per day. Some 7,000 barrels of that is for local use with the rest due for export. The West African nation, already one of the world's biggest suppliers of uranium, will start production at its estimated 650 million barrels reserves under a $5 billion deal with China's CNPC at the Agadem bloc. According to the BCEAO, investment in public infrastructure and continued production from Niger's uranium mines, which supply France's nuclear energy sector, would be the two other main components of growth in 2012.
The first Internet-free Facebook, email and online chat service for Portuguese speaking Africans is being launched in Cape Verde by ForgetMeNot Africa. Mobile operator T-Mais' new Ch@t+ service enables its entire subscriber base to access internet messaging in Portuguese on even the most basic mobile phone. Using ForgetMeNot Africa's award-winning Message Optimiser, the service converts Facebook, email and online chat messages into SMS format, and vice versa. The launch of ForgetMeNot Africa's technology in Portuguese opens up internet messaging via SMS to the near 23 million Portuguese speakers across Africa in addition to its existing English and French services, which are already providing 47.5 million people in east, west, southern and central Africa with access to Facebook, email and online chat.
World Bank has approved US$125million funding line to help the Rwandan government reduce poverty through private sector development. The financing is composed of US$60million grant and a credit of US$65million from International Development Association (IDA), an arm of the World Bank.
Officially recorded remittance flows to developing countries are estimated to have reached $351 billion in 2011, up 8 percent over 2010. For the first time since the global financial crisis, remittance flows to all six developing regions rose in 2011. Growth of remittances in 2011 exceeded our earlier expectations in four regions, especially in Europe and Central Asia (due to higher outward flows from Russia that benefited from high oil prices) and Sub-Saharan Africa (due to strong south-south flows and weaker currencies in some countries that attracted larger remittances). By contrast, growth in remittance flows to Latin America and Caribbean was lower than previously expected, due to continuing weakness in the U.S. economy and Spain. Flows to Middle East and Africa were also impacted by the "Arab Spring". Following this rebound in 2011, the growth of remittance flows to developing countries is expected to continue at a rate of 7-8 percent annually to reach $441 billion by 2014. Worldwide remittance flows, including those to high-income countries, are expected to exceed $515 billion by 2014. However, there are serious downside risks to this outlook. Persistent unemployment in Europe and the U.S. is affecting employment prospects of existing migrants and hardening political attitudes toward new immigration. Volatile exchange rates and uncertainty about the direction of oil prices also present further risks to the outlook for remittances. Remittance costs have fallen steadily from 8.8 percent in 2008 to 7.3 percent in the third quarter of 2011. However, remittance costs continue to remain high, especially in Africa and in small nations where remittances provide a life line to the poor.
The Gordon Institute of Business Science, in partnership with Goldman Sachs and Goldman Sachs Foundation, are launching a new certificate programme to support female entrepreneurs in South Africa. 10,000 Women is a five-year investment by Goldman Sachs to provide 10,000 women around the world with a business and management education. 10,000 Women currently operates in 22 countries through a network of more than 75 academic and non profit partners. In South Africa, 10,000 Women is managed and delivered by the Gordon Institute of Business Sciences. The women selected for the Goldman Sachs-GIBS 10,000 Women Certificate Programme for Women Entrepreneurs will receive support to help them grow their small businesses. The programme includes four months of academic training by top GIBS faculty as well as external experts using practical exercises, case studies and customised resources. Topics that will be covered include entrepreneurship, business strategy, financial management, people management, marketing management, supply chain management, computer skills, negotiation and leadership skills. In addition, participants will be supported by mentorship, networking events and community-based dialogues to help them apply what they are learning in the classroom to their businesses.
East African Breweries Limited (EABL) has received a Sh19.5 billion loan from majority shareholder, Diageo to finance the re-purchase of its subsidiary, Kenya Breweries (KBL) from international beer maker SABMiller. EABL said it had received a "dollar equivalent" loan worth Sh19.5 billion that it will use to settle the transaction. The Kenyan brewer will also dispose of a 20 per cent stake in Tanzania Breweries (TBL) that was previously owned by SABMiller, ending a 10-year shareholding swap deal between the two companies. EABL was expected to raise Sh7 billion from the sale of TBL. The London based Diageo Group and its associate companies have a 50.03 per cent ownership in EABL. The company's long-term liabilities stood at Sh3.9 billion as at June this year from a nil position in the financial year ending June last year. Its net profits for the year ended June increased by Sh200 million to Sh9 billion. EABL invested Sh4.9 billion in 2010 to buy a 51 per cent stake in Serengeti Breweries, a Tanzanian outfit.
Nigeria and an Indonesian consortium on Monday signed a $960 million investment deal involving the mining, oil and rubber sectors in two southern states, a government statement said. Trade Minister Olusegun Aganga signed the memorandum of understanding with Indonesia's Bakrie Group chief, Indra Bakrie, for the investments in Ogun and Akwa Ibom states within the next five years, it said. The investment will be managed by Bakrie's Nigerian affiliate, Bakrie Delano Africa Nigeria Limited. Bakrie said the group chose to invest in Nigeria because of the abundant investment opportunities as well as high investment returns, said the statement from the Nigerian minister's office.
Rwanda is planning to invest at least $75 million beginning next year in its horticulture sector. The move is expected to reduce its current dependence on traditional exports of coffee, tea, minerals and tourism that currently account for about 60 per cent of total export revenue but are vulnerable to price volatility. Under the six-year action plan for the sector, the government plans to construct a modern packhouse with a capacity of 20,000 tonnes per day in Kigali at a cost of $500,000. It also plans to construct 30 collection centres at a cost of $1 million, and purchase post harvest equipment, a move that is expected to reduce post harvest losses from 40 per cent to about 10 per cent and improve the quality of export produce. The government plans to help farmers get farm inputs, increase the area under cultivation and increase horticultural production. Emphasis will be put on increasing output of flowers, pyrethrum, macadamia and essential oil plantations. Current production levels are low due to many farmers growing horticulture products as an additional crop, rather than dedicating land to a single crop. High incidence of diseases and pests, lack of production skills and collection centres, and training in post-harvest handling constrain production growth. While horticulture exports fetch about $3 million a year, the sector has the potential to generate more than $9 million by 2015 through value addition and diversification. Rwanda needs to diversify its export base to cut back its rising trade deficit. The country's trade deficit increased in the first half of this year to $587 million compared with $543.7 million in June last year. This year the country is projecting more than $300 million in export revenue, up from $ approximately $297 million collected last year.
The 13th Ordinary summit of the East African Community (EAC) Heads of State launched a five year development strategy estimated to cost $1.3b. The strategy to be implemented from 2011-2016 will build on the achievements of the last decade. It is targeted at the implementation of a fully fledged Customs Union and the Common Market protocol and to improve cross border infrastructure and trade, implementing the food security and climate change action plan among others. The EAC secretariat plans to raise funds for the strategy which was launched on theme "Deepening and Accelerating Regional Integration" from the partner states contributions and the development partners. The launch of the strategy was followed by an appeal from the new Chairperson of the EAC Heads of State Summit and Kenyan President Mwai Kibaki for the complete elimination of the non-tariff barriers that are raising the costs of doing business in the region.
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