Category: Business

The dramatic gain on Wednesday lifted the local unit to its strongest level since November last year while wiping out all the losses this year. This means that the shilling has now appreciated for 11 straight days to trade below Ksh153.75 at some commercial banks.

The seven enterprises include privatisation of the Development Bank of Kenya.

According to the Private Sector Foundation Uganda (PSFU), Mombasa still accounts for 80 percent of Uganda’s cargo, as the Central Corridor continues to grapple with infrastructure challenges, high transport costs and slower clearance at the port.

<p>Data from the General Administration of Customs of the People’s Republic of China (GACC), which is China’s equivalent of the Kenya Revenue Authority (KRA), shows that China exported goods worth $7.87 billion (Ksh1.26 trillion at current exchange rates) to Kenya last year.</p>

Retail sugar prices have gone up twofold from an average of Tsh2,300 ($0.91) in November to between Tsh4,000 ($1.58) and Tsh6,000 ($2.37) per kilogramme, with fingers being pointed at factory owners, importers and traders for the artificial shortage.

“It shall no longer be necessary for any person from any corner of the globe to carry the burden of applying for a visa to come to Kenya,” said President William Ruto on December 12, 2023.

The recent influx of ships to the port has forced the Kenya Ports Authority (KPA) to designate Berth 5, which has been handling conventional cargo, to accommodate containerised cargo.

The Ministry of Agriculture announced the ban in a statement that said the disease has no treatment and can cause up to 100 percent yield loss. The statement said maize can be imported only after it is milled, either as flour or grit.

David Basalirwa, a trader and resident of Bugiri district in eastern Uganda, says he prefers to buy textiles from Kenya because they are relatively cheaper compared to his nearest trading hub in Iganga district and other Ugandan towns.

In its recently issued Country Economic Memorandum for Tanzania report titled Privatising Growth, World Bank also stated that many poor Tanzanians have come out of poverty in recent years, but many have fallen into it, too.