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.

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.

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.