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KenTrade launches strategies on Avocado exports from Kenya

Kenya recently signed a trade deal with the Chinese Government to export frozen avocados to China that will result in the Chinese market absorbing over 40 per cent of Kenya’s avocado produce, making it one of the largest importers of the fruit.  With the availability of export procedures in the portal, traders will save the time, cost and effort that would be spent on searching for trade related information. To facilitate the trade, Kenya Trade Network Agencies (KenTrade) has partnered with the Kenya Plant Health…

CMA approves Online Foreign Exchange Broker

Capital Markets Authority of Kenya (CMA Kenya) has approved the grant of a license to SCFM Limited to operate as a Non – Dealing Online Foreign Exchange Broker. The license means the entity is licensed by the Authority to act as a link between the online foreign exchange market and a client in return for a commission or mark-up in spreads and does not engage in market-making activities (buying and selling of foreign currencies). This is the second non-dealing online foreign exchange broker license to be issued under…

Kenya’s Economic Growth rises to 6.3 percent amid tough financial times

Kenya is one of the fastest growing economies in Africa, but its performance is often hit by natural disasters such as drought and disruptive political tensions during elections. During the 2007 presidential election, for instance, violence and chaos scared away some investors, hurting the country’s economic growth. After the 2013 elections, which ushered in the new constitutional era, missed revenue targets, rising public debt and uncontrolled expenditure also emerged as concerns for investors. However, in a recently…

Islamic Finance: the missing link in Oil and Gas sector financing in Uganda

For a while, oil and gas has been the talk of Uganda, and the discovery is that the country has 6.5 billion barrels of oil reserves, of which 1.4 billion barrels are economically viable or recoverable. Such developments have, however, been stalled by the fact that the Oil Companies have not made Final Investment Decision (FID). FID means the point at which everything is in place for a project to say “yes, let’s go ahead”.

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May 2019

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