Browsing: Kenya’s Economy

Cooking oil prices began to go up in 2020 and the government should have empowered the farmers to grow crops that are used for oil production. Taking into consideration that some of these crops take less than five months to mature, there should never have been a crisis. 

Kenya’s case is unique. 

While it is not representative of what is happening in other African countries, it shows how poor planning and lack of sound policies can run down a country. As a country, this East African nation is well-endowed with natural resources. 

Kenya has adequate arable land and adequate water for irrigation. While rains are not reliable anymore, the country has the capacity to build dams and other water storage infrastructure to ensure that food production can go on unhindered. 

The annual value of this trade was reported in 2019 to be on average Ksh 18 billion (US$180 million) which is less than 1 per cent of the total country’s imports. The total imports of textiles in Kenya were valued at around Ksh 131 billion (US$1.3 billion) depicting that the second-hand clothes represented 12.5 per cent of the country’s total imports.