The East Africa Payment System (EAPS) has launched a new payment system that will drive trade between Kenya, Uganda and Tanzania.

"By using the new payments system, a trader in Kenya can pay for goods in any of the three region’s currencies without necessarily changing them into a customer’s preferred mode of payment. A customer instructs their commercial bank detailing the currency they intend to transfer across the border and then the bank will conduct the transaction through the EAPS."

"Rwanda and Burundi are also expected to join the system, once they set up the real-time gross settlement (RTGS). The system is part of larger plan by the East African Community partner States to integrate their money and capital markets that has been under development for three years."

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According to this, the ecommerce spending for Q1 2014 in the US has been estimated to have grown with 12% year-over-year.

"Study indicates a rise of ecommerce sales up to USD 56.1 billion, making Q1 2014 the 18th consecutive quarter of registered boost and the 14th consecutive quarter of a two-digit increase."

"Mobile ecommerce shares an important part of this turnout, with USD 7.3 billion of spending occurring on smartphones and tablets, a boost of 23% from 2013, accounting for a total of USD 63.4 billion for ecommerce in general in the US. Out of these USD 7.3 billion, 62% of consumer spending occurred via smartphones, and 38% are attributed to tablets. Desktop ecommerce rounded up to 11.7% in matters of consumers’ spending."

According to this, Chinese ecommerce platform Alibaba has predicted in its IPO that China’s ecommerce market will grow twofold by 2016.

"China’s online sales were worth USD 295 billion (CNY 1,841 billion) in 2013 and is expected to increase to almost USD 595 billion (CNY 3,790 billion) in 2016, which amounts more than the nominal GDP of Sweden or Switzerland per 2013."

"At present, the amount of money spent in the Chinese retail cyber sphere is larger than the entire economies of Egypt or Finland. China’s internet users reach 618 million, according to government figures, which is just below half of those who regularly shop online. China’s mobile internet user base was 500 million, as of the end of 2013."

Source Smartinsights.com

Bridge Community Farms is set to benefit from a £36,000 donation, thanks to The Greif Packaging Charitable Trust.

Bridge Community Farms is a working farm that brings together people from all parts of the local community. Its main purpose is to offer permanent and sustainable jobs to people who are long-term unemployed, growing and selling organic fruit and vegetables to the local community. 

Graham Duerden, Managing Director of Greif UK Ltd, based in Ellesmere Port and Burton-upon-Trent, presented a cheque to Francis Ball, Chris Maddock and Hazel Manning, Directors of Bridge Community Farms, on behalf of The Greif Packaging Charitable Trust. The donation will enable the farm to purchase and erect half an acre of polytunnels to grow salads and herbs, create five permanent jobs and provide an exciting study facility for children and young people in the area. 

Francis said: “We’d like to say a huge thank you to The Greif Packaging Charitable Trust for this very generous donation. Bridge Community Farms would not exist without the support of local businesses and individuals. This donation will allow us to put up our first polytunnels and kick off this valuable community venture. It really will change the lives of some of the most potentially talented people in Ellesmere Port by allowing us to offer them a helping hand.” 

Graham Duerden, MD at Greif Ltd, said: “The Greif Packaging Charitable Trust was set up to help children and young people. Bridge Community Farms provides us with an ideal opportunity to support a local venture that will benefit Ellesmere Port.” 

Bridge Community Farms is set to open later in the year. As well as providing sustainable jobs, it will provide a therapeutic environment for people living with mental health conditions such as depression and post-traumatic stress disorder. The farm will also have study facilities for children and young people who want to learn horticulture, food preparation and basic business skills. All profits will be invested back into the farm.