Browsing: China

China dominates as Kenya’s top import source globally 

Uganda is Kenya’s biggest trading partner within the East Africa Community (EAC), latest data show, with China dominating the global scene.

The Economic survey (2019) shows total trade volumes (import and exports) between Kenya and Uganda in the year 2018, were valued at Ksh111.3 billion (USD1.09 billion).

Tanzania comes in a distant second with a total trade value of Ksh47.6 billion (USD468.9 million) while Rwanda is third with Ksh19 billion (USD187.2 million).

Trade with DR Congo, South Sudan and Burundi, mainly export markets for Kenya, were valued at Ksh15.2 billion (USD149.6 million), Ksh12.9 billion (USD127.1 million) and Ksh6.6 billion (USD65.02 million) respectively.

Uganda

During the year under review, Uganda increased the value of its exports to Kenya by 17.6 per cent to close at Ksh49.4 billion (USD486.7 million), from Ksh42 billion (USD413.8 million) in 2017.

READ:Uganda keen on enhancing exports to

Loans from China closed 2018 at USD6.2 billion (Ksh 627.1 billion)

Kenya will be keen to secure additional funds from China for construction of Phase 2B of the Standard Gauge Railway (SGR), as the World meets for the second Belt and Road Forum for International Cooperation (BRF) in Beijing.

The forum which takes place this week is expected to attract a high number of Heads of States from Africa and across the globe, with thousands of delegates from over 100 countries.

President Uhuru Kenyatta’s administration is seeking a Ksh370 billion (USD 3.67 billion) loan to extend the rail project which is currently at its second phase of construction (Nairobi-Naivasha).

Phase one of the project, 472 kilometre Mombasa —Nairobi line, is currently operational having been completed and commissioned by President Kenyatta on May 31, 2017.

It was constructed by China Road and Bridge Corporation (CRBC) on a Ksh327 billion (USD3.2 billion) …

The indicator in question in this column is figure 17.6.

17.6 of what?

According to published government statistics, the median weighted average age of an East African citizen is 17.6 years old. Among the 157 million East Africans alive today there are equal numbers of people over 17.6 years old as there are people under 17.6 years old.

So how do 17.6 years as a median age compare to other locales around the world?

If the EAC were a country it would be the 13th youngest country in the world with Uganda, Burundi, and Tanzania bringing down the weighted average against the relatively older Kenya. To add perspective, the median age of both the #1 and #2 economies of the USA and China are more than twice as old at 37.8 years and 36.8 years respectively than an East African. Even more dramatic, ageing Japan has 46.5 years as median …

The Tanzanian government has pledged continued support to Chinese investments at the 2019 Tanzania-China High-level Investment and Business Environment Dialogue in the commercial capital Dar es Salaam on April 17, 2019.

The Minister of State in the Prime Minister’s Office responsible for Investment, Angellah Kairuki, said Chinese investment has had and will continue to play an important role in helping us reach our goal of attaining a middle-income country status by 2025.

She said as the two countries marked 55 years of diplomatic relations this year, Tanzania was committed to continuing working closely with China, particularly through mechanisms within the Forum on China-Africa Cooperation that promotes government and private investments. However, it is unavoidable that some misunderstandings may occur in the rapidly growing and wide-ranging economic relations and trade, she told the event.

“Even so, it is my sincere belief that cooperation and common development will continue to represent the …

The Tanzania Trade Development Authority (TanTrade) said in a statement issued on Wednesday that the country is set to participate in the first China-Africa Economic and Trade Expo to be held in Changsha, the capital of central China’s Hunan province between 18^th and 20^th June, 2019.

The body has also urged the local companies to grab the `golden chance` provided by the trade expo which will focus on trade, investment, finance, agriculture, mining, energy, tourism and infrastructure.

Officials will sign bilateral agreements during the exhibition, engage in investment promotions, and establish a “new mechanism” for future economic cooperation.

The expo is part of a slew of promises made by president Xi Jinping during last September’s Forum on China–Africa Cooperation (FOCAC) in Beijing. During his speech to African leaders, President Xi proposed eight initiatives aimed at pursuing a “win-win” strategy giving new impetus to economic, political, and security collaboration. …

The third edition of the China Trade Week (CTW), a “One Belt, One Road” initiative inspired event will take place in Ethiopia from May 2 to 4 at the Millennium Hall in Addis Ababa.

MIE Groups, the founder of the conference will host the three-day event in collaboration with the Ethiopian Prana Events.

Established in 2013, China Trade Week had its first event in the United Arab Emirates (UAE) which was warmly welcomed by the local business community, it was followed by the first African event in Kenya in 2015 which had an even bigger response. It later debuted in Ethiopia in 2017.

The trade fair seeks to pull over 100 investors and exhibitors from sectors including construction materials and machinery, lighting and energy, clothing and textiles, electrical goods and electronics, automotive parts and accessories, health and beauty, print, packaging and plastic, baby and infant products and food and beverage.…

Loans from China hit a high of US$6.2 billion last year

The Chinese government has dismissed claims that it’s continued heavy lending to Kenya in the financing of mega infrastructure projects is a ‘ debt trap’, even as loans from Beijing hit a high of ShUS$6.2 billion(Sh625.9 billion) in December last year.

This is up from US$5.3 billion (Sh535 billion) a year earlier with a lion share going towards the construction of the multi-billion Standard Gauge Railway (SGR).

“We are not putting Kenya into a debt trap. China-Africa corporation cannot put Africa into a trap but booming economic growth,” China’s Charge’ D’affaires (Nairobi) LI Xuhang said during a meeting in Nairobi on the update on the SGR and China-Kenya relations.

“Kenya can decide on who they want to partner with. Kenyan people are wise enough to choose their trade and corporation partners. They can decide who benefits them more,” Xuhang …