Kenya: news on Economy in real time

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Faced with security, food and environmental challenges, the States of East Africa want to unite. Gathered within IGAD, they aim to launch a school that will be responsible for training people capable of proposing solutions to these challenges.

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In line with the ambitions that motivated the South African President's state visit to Kenya in October 2016, the highest authorities of the two countries are designing instruments to facilitate the realization of a strengthened bilateral relationship.

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After the 2020 trade agreement, London and Nairobi want to strengthen their private investments. On a 3-day visit to the UK, President Uhuru Kenyatta validated the launch of the new Nairobi International Financial Center, and secured a new investment of £ 132 million.

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After a trade deal marking the start of its new relationship with its former colony after Brexit, the UK wants to improve its cooperation with Kenya on defense. New objective, to strengthen cooperation in the fight against terrorism and insecurity. Kenya and the United Kingdom have just signed a new security cooperation agreement.

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Four months after the start of their negotiations, Kenya and the United Kingdom have reached an agreement on the terms of a new bilateral trade agreement which, in 2021, will take over from the customs preferences currently in force within the framework of the EPA concluded with the EU.

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This is thanks to the trade agreement between the two countries which should allow trade to be maintained despite Brexit. In Kenya, agricultural exports to the UK will continue to benefit from duty relief despite Brexit.

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With production that has more than tripled, from 198 to nearly 672 megawatts (MW) in six years, Kenya has become Africa's leading producer of geothermal energy. The commissioning of the Menengaï geothermal power plant enabled the East African country to fill its electricity deficit to overcome the serious shortages encountered in the late 2000s.