Rwanda, Uganda to import 77500 tons as sugar crisis hits EAC countries

This post has already been read 6402 times!

By Robert Mugabe
Rwanda private sector has ordered tax free 37500 tons of sugar from Brazil as Uganda orders 40000 tons to try calm the sugar crisis in the region, Great Lakes Voice has established.
Mean while Tanzania, Kenya and other East African Countries (EAC) have banned Sugar export due to the crisis caused by high demand of sugar following floods in various areas of the world.
Rwanda, Uganda sugar import deal was discussed in EAC meeting to allow the import with tax free as products produced in EAC countries.
“These tons of sugar will enter into our countries with tax free. We shall only pay “Tax added Value” to help us cope with the crisis,” Laurent Mwenzangu, a member of Champion Investment Corporation (CIC) based in Kigali said.
The multimillion dollar import deals expose the incompetence of the sugar factories in the region that have failed to produce sufficient product to cater for the population.
Rwanda government official told Great Lakes Voice that the sugar deal is a part of private public partnership to look for the solutions that affect the market.
“Traders came together with the initiative, the commercial Banks stepped in to bridge financial gaps as the government helped to negotiate in the regional bloc to wave tax,” He said.
According to Mwenzangu, the tax free sugar deal is the first of its kind and as the ship arrives, starting from the beginning of 2012 the sugar prices will go down in the region.
“Sugar factories in the region need to reform and merge if possible in order to serve the regional market. The market is merging to be the most active bloc, so private sector should do more to avoid looking all regional solutions from far Latin America,” Mwenzangu added.

This post has already been read 6402 times!

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Great Lakes Voice (GLV) is an independent news network that aims to provide Africa's Great Lakes Region with a source of uncensored news.

Great Lakes Voice is owned and registered as The Voice, Ltd. and has an office at Press House (No. 37, KG 17 Avenue, Kigali).

Copyright © 2015 Great Lakes Voice

To Top