News & Events

A delegation from the Mano River Union (MRU) recently completed a successful visit to the Busia One Stop Border Post (OSBP) between Kenya and Uganda to study efficient cross-border trading systems that support women traders. The delegation included women traders and border officials from Liberia and Sierra Leone, along with African Development Bank representatives.

Established in 2018, the Busia OSBP is one of East Africa’s busiest border crossings, managing over 3,000 people and 900 vehicles daily. The facility has revolutionised cross-border commerce and serves as an exemplar for streamlined border procedures between the two nations. The visit was part of the African Development Bank’s BI-BEST project, which aims to support 1,500 women traders in Liberia and Sierra Leone. The delegation met with various Kenyan officials and local women traders, who shared their experiences of the OSBP’s positive impact.

Notable improvements at the border post include a children’s daycare centre, simplified trade procedures, and dedicated support facilities for women traders. Local traders reported significant benefits, whilst delegates from Sierra Leone and Liberia expressed enthusiasm about implementing similar systems in their regions.

Read the original article here: https://afdb.africa-newsroom.com/press/mano-river-union-delegation-studies-successful-border-post-model-to-enhance-womens-crossborder-trade?lang=en

The 48th CARICOM Heads of Government Conference opened Wednesday in Bridgetown, Barbados, under the theme “Strength in Unity: Building Caribbean Resilience, Inclusive Growth, and Sustainable Development.” Chaired by Barbados PM Mia Mottley and Secretary-General Carla Barnett, the two-day summit brings together regional and international leaders to address critical Caribbean issues.

The agenda focuses on pressing challenges including food security, climate change and finance, Haiti’s ongoing situation, digital resilience, and advancing the CARICOM Single Market and Economy. Leaders will also discuss reparations for slavery and improvements to maritime and air transportation infrastructure. Notable speakers include UN Secretary-General Antonio Guterres and EU Commission President Ursula von der Leyen, who join regional leaders from Grenada, Montserrat, and other Caribbean nations.

Read the original article here: https://www.periodico26.cu/index.php/en/worlds-news-2/20610-barbados-hosts-caricom-conference

In Singapore, companies will receive a 50% corporate income tax rebate for the 2025 assessment year, as announced by Prime Minister and Finance Minister Lawrence Wong. Eligible firms, which must have at least one local worker in 2024, will also get a cash grant of S$2,000, with total benefits capped at S$40,000. Payments will be made automatically from the second quarter of 2025.

The government will also increase support for businesses that raise the salaries of lower-wage workers through the Progressive Wage Credit scheme. The co-funding level for wage increases will rise from 30% to 40% this year, and decrease to 20% next year while maintaining a higher rate of 50% in 2024. This support targets workers earning average monthly wages of up to S$4,000, provided there is an increase of at least S$100 each year. If an employer maintains the wage increase from one year to the next, co-funding will extend to both years. These initiatives demonstrate the government’s commitment to easing financial burdens on businesses while promoting investments in workforce welfare, especially for lower-wage employees. By providing tax rebates, cash grants, and wage co-funding, Singapore aims to bolster economic stability and encourage responsible business practices.

Read the original article here: https://www.channelnewsasia.com/singapore/budget-2025-corporate-income-tax-progressive-wages-4944546