President Magufuli names unfavourable business environment as cause of low trade volumes in the SADC bloc
What you need to know:
- The Head of State, Dr John Magufuli, said low intra-Africa trade is attributed to unfavorable business environment in Africa.
Dar es Salaam. President John Magufuli has today Monday, August 5 said that unfavorable business environment in Africa is to blame for low Intra- Africa trade.
The Head of State was speaking during inauguration ceremony of the southern African Development Community (SADC) industry Week in Dar es Salaam.
He said it was high time SADC member states dealt with multiplicity of regulatory bodies, multiplicity of taxes and red tape.
"Intra-Africa trade is below 20 per cent, suggesting that we still have a long way to go," noted President Magufuli.
He said an enabling business environment would create confidence among investors
