EGM Securities, Kenya’s first and only regulated non-dealing online forex broker, has launched the region’s first online forex trading offering in Kenya that enables trading using multiple payment channels including mobile payment channels such as M-Pesa.
This innovative financial offering bolsters Kenya’s positioning as a leader in financial innovation in Africa. For the first time, Kenyans will have the opportunity to participate in global forex markets in a strictly locally regulated environment and at lower transaction costs. Read more. Source | Global Banking and Finance Review
Exports to Tanzania rose by the highest margin, outpacing other top buyers of Kenya’s goods in the first five months of the year, fresh statistics show, as trade relations begin to improve between the two states. Dar es Salaam ordered goods worth Sh10.54 billion between January and May, 28.58 per cent more than the same period in 2017, data released by the Kenya National Bureau of Statistics (KNBS) last week indicates. Read more. Source | Daily Nation
Today, Kenya finds itself in an awkward yet promising position in its history. For one thing, our unemployment rate is arguably one of the highest in the East African region. Additionally, Kenya’s youth (between 18-35 years) account for over 30 per cent of the total population, and over half of the country’s population is below 35 years. Read more. Source | Daily Nation
Kenyan farmers lose tonnes of food produced due to different reasons which can be avoided with enough inputs in the agricultural sector. Globally, food wastage is estimated to be approximately 1.3 billion tonnes. This is roughly one-third of the food produced in the world for human consumption every year. In monetary value, food losses and waste amount to roughly US$ 310 billion in developing countries-which Kenya is part of- and US$ 680 billion in industrialized countries. Read more. Source | The Exchange
Kenya’s Chamber of Commerce and Industry (KNCCI) and the ministry of EAC and Regional Development are working on educating kenyan businesses and entrepreneurs on the available opportunities for trade in the EAC market. This has been agreed by the KNCCI chairman Mr Kiprono Kittony and the cabinet secretary for EAC and Regional Development Mr Peter Munya at a meeting seeking to have both parties collaborating on sensitization and capacity-building of Kenyan businessmen and entrepreneurs to seize the opportunities provided by the EAC integration for accessing the larger East African market. Read more. Source | The Exchange
Agriculture was the main driver for the Kenyan and Ugandan economies in the first three months of this year, expanding almost 10 per cent from 2017. Kenya said its economy expanded by 5.7 per cent in the first three months of 2018, compared with 4.5 per cent over the same period last year. Read more. Source | East African
Kenyan officials have announced the end of the long-running trade dispute with Tanzania following a bilateral meeting between the two states in Dar es Salaam. The move will see Kenya-made goods such as textiles, which had been denied preferential access, get to the Tanzanian market with much ease. Read more. Source | East African
Kenyan government officials led by President Uhuru Kenyatta have today witnessed deals worth Sh10 billion (USD 100 million) at the ongoing US-Kenya conference in Nairobi.
The 60-member American delegation to the bilateral conference, which is organised by the US Chamber of Commerce, is led by the US Under-Secretary for Commerce Gilbert Kaplan and is aimed at interrogating President Kenyatta's big 4 development agenda for investment opportunities. Read more. Source | Business Daily
EAC COMMON MARKET IMPLEMENTATION Impact of Container Cash Deposit Requirement in Kenya: The Case of Private Sector Firms in Rwanda
To highlight the impact of Mombasa Port container cash charges on regional trade and business, the Hub created the following case study focused on Rwanda private sector firms. The study demonstrates the need for a solution to the cash deposit requirement in order to reduce the cost of doing business. The study reveals long administrative time gaps between claim submission and deposit recovery that impact on business cash flow and adds financial burdens, particularly to smaller freight forwarders. It also leads to an increase in operational costs that are ultimately passed on to consumers. The study further reveals how the utilization of a guarantee scheme has enabled some of the firms to reduce costs.
The African Women in Technology (AWIT) Conference is scheduled to take place from July 19 – 21, 2018. Hosted yearly by IBOM LLC, the 3-day conference focuses on empowering, educating and connecting African women in business and technology.
The core objective of the conference is to provide a platform for advancing the careers of African women in the technology industry regardless of what stage they are in their careers or businesses. a 3-day Conference focused on empowering, educating and connecting African women in business and technology. Read more. Source | CIO East Africa