Remove trade barriers, Africa advised
What you need to know:
High taxes, entry permits and long procedures are some of the challenges that hinder investors from African countries from exploring business opportunities on the continent.
Dar es Salaam. African countries have been criticised for failure to remove trade barriers on the continent.
Mkuki Na Nyota Publishers managing director Walter Bgoya said this on the sidelines of African leadership forum meeting on Friday.
The assembly aimed at enabling African investors transform their businesses.
“So far it is difficult to do business among African countries due to high taxes, entry permits and long procedures. These are challenges that hinder investors from African countries to explore business opportunities among themselves,” he said.
Mr Bgoya noted that to export products or goods from Dar es Salaam to South Africa costs more than $1,000 while from Dubai to Dar es Salaam costs less than $700. He added that for the region to succeed and develop economically such obstacles must be removed.
He said most developed countries would continue to develop as they do not have such stumbling blocks.
Uongozi Institute representative Mugisha Kamugisha said African leaders should encourage the youth to tap investment opportunities in order to attain the 2063 African agenda
