Browsing: President Uhuru Kenyatta

African Trade

As far as where to put money is concerned, Kenya has numerous investment sectors with tremendous potential. The prospective stability and economic recovery expected under the new administration will no doubt make way for the realization of huge money investments in the countries.…

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While massive and spectacular infrastructure projects seem to point that East Africa’s largest and most vibrant economy remains in the right direction, increasing state debt, soaring fuel and commodity prices and high unemployment threaten to water down the economic footprint of Kenya’s fourth president Kenyatta.…

During a press conference on Wednesday, the company’s Chairman Mehment Coskun stated that the KShs91 billion investment would be used to manufacture six different products.

These products include ceramic and granite tiles, sanitary towels, toilet paper, towel napkins, and iron and aluminium products.

However, according to Coskun, seventy per cent of their output will be destined for the export market in the United States and Europe.…

  • President Uhuru Kenyatta has achieved a lot in his tenure as the Chair of the East African Community, EAC Secretary General Peter Mathuki has said
  • Mathuki pointed out that other key achievements of President Kenyatta as the EAC chair include the admission of DR Congo into the community
  • Mathuki said President Kenyatta’s tenure as the EAC chair also saw the implementation of the common external tariff that discouraged the importation of goods that could be produced locally

President Uhuru Kenyatta has achieved a lot in his tenure as the Chair of the East African Community, EAC Secretary General Peter Mathuki has said.

Speaking ahead of the 22nd Ordinary Summit of the East African Community (EAC) Heads of State in Arusha, Tanzania, Mathuki pointed out that other key achievements of President Kenyatta as the EAC chair include the admission of DR Congo into the community.

“DRC is a full member …

The cooperation in the blue economy sector agreement, which aims to strengthen capacity building and knowledge exchange in the governance aspects of the blue economy as well as support the circular economy and collaboration in the aquaculture sector, was a key agreement among those inked.

Memorandums of Understanding (MOUs) for cooperation on maritime affairs as well as peace, security, and law enforcement at sea were also inked.

Speaking to the media after the agreements were signed, Kenyatta declared that he and his host had decided to work together even more on issues pertaining to peace and security, particularly marine security.

“Seychelles is an industry pioneer in promoting the blue economy. In that sense, we have decided to intensify our cooperation in order to safeguard and ensure the sustainable use of our ocean resources, according to President Kenyatta.…

The poor roads in the DRC and the level of insecurity in the country make it difficult and costly to move these mineral resources to the Atlantic port. This makes DRCs decision to join the EAC their most viable option. 

A state-owned shipping line from the Congo, the Lignes Maritimes Congolaises (LMC), has already set base in Kenya and plans to start its operation in Mombasa starting this June. 

The shipping line seeks to channel more exports and imports goods through the port of Mombasa. …

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  •  The current president of Tanzania is actively pursuing a foreign policy distinct from the one pursued by the late Magufuli, who served as president before her.
  • Kenya and Tanzania agreed to boost their bilateral ties during the visit of President Samia, marking the conclusion of a challenging chapter marked by trade barriers and border tension.
  • One year after President Samia Suluhu took office, a “softening” of Tanzania’s borders with Kenya, a reduction in non-tariff hurdles, and resolution to bilateral issues have resulted in higher commercial growth in both countries.

Previously strained relations between Kenya and Tanzania

Owing to their strained relationship, Kenya and Tanzania have not realized their goals of establishing a free trade zone for many years. The problems originated from several sources, including the closing of borders, the restriction of collaboration and the free movement of goods and services, the introduction of additional taxes, and the

  • Economic activity increased by 7.5 per cent, compared to a 0.3 per cent decrease the previous year, when operations were nearly halted due to pandemic containment measures.
  • The rise in 2021 was driven mainly by improved performance in manufacturing, commerce, transportation, real estate and financial services, which gained from the re-opening of the economy.
  • An estimated 926,000 new employment were generated in Kenya during the last year, supporting the country’s economic recovery.

The last year has set the pace for economic recovery following the Covid-19 pandemic. According to the Kenya National Bureau of Statistics (KNBS) data, Kenya’s economy recovered in 2021 to expand at the quickest rate in 11 years. The relaxation of Covid-19 restrictions has aided the recovery of essential industries, except for agriculture, which low rains have hampered.

Economic activity increased by 7.5 per cent, compared to a 0.3 per cent decrease the previous year, when operations were