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Tag: Government of Kenya

African free trade area launched after delays owing to Global Coronavirus Pandemic.

African free trade area launched after delays owing to Global Coronavirus Pandemic.

FEATURED, NEWS, SPORTS
African countries began officially trading under a new continent-wide free trade area on Friday, after months of delays caused by the global coronavirus pandemic. But experts view the New Year's Day launch as largely symbolic with full implementation of the deal expected to take years. The African Continental Free Trade Area (AfCFTA) aims to bring together 1.3 billion people in a $3.4 trillion economic bloc that will be the largest free trade area since the establishment of the World Trade Organization. Backers say it will boost trade among African neighbours while allowing the continent to develop its own value chains. The World Bank estimates it could lift tens of millions out of poverty by 2035. But obstacles - ranging from ubiquitous red tape and po...
Uganda’s Exit from Pipeline Project Slows Kenya’s oil Export Hopes

Uganda’s Exit from Pipeline Project Slows Kenya’s oil Export Hopes

FEATURED, NEWS, Oil & Gas
By VICTOR AMADALA Business Writer The two countries had in 2015 agreed to jointly build the oil pipelineInvestors in the Turkana oil project are pegging their investment decision on the completion of the pipelineKenya will now have to bear the full cost of the delayed Lokichar-Lamu crude oil pipeline after Uganda, which ditched the project in 2016 opted for the Tanzania route. The move by Uganda further jeopardise Kenya's hope both for the oil pipeline, blurring the country’s dream for oil cash. Last weekend, Uganda President Yoweri Museveni and his Tanzanian counterpart John Magufuli officially signed a $3.5 billion (Sh378 billion) deal that will see the Kampala route export its oil through Tanzania’s 1,445-kilometre crude oil pipeline.   Uganda said i...
Kenya Pushes Ahead With Leasing Public Sugar Companies

Kenya Pushes Ahead With Leasing Public Sugar Companies

Business, FEATURED
By Keefa Nuwahereza The government of Kenya has embarked on a campaign to offer 25-year leases on five loss-making sugar mills in western Kenya This was after authorities observing that privately owned sugar companies have steadily increased their market share over the last decade It should be noted that nationalisation is only justified if an industry is a monopoly which could be abused by a private operator seeking super-profits. Occasionally it may be necessary in the national interest to rescue a strategic company such as Kenya Airways. The state should not get involved in an industry where the private sector operates efficiently and profitably. Three weeks ago the government asked for bids to lease five state-owned sugar mills—Chemelil, Miwani, Muhoroni, Nzoia and Sout...
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