Business News

Kenya steps up lobbying for sugar safeguards deal .

A technical team from the Ministry of East African Affairs, Commerce and Tourism last week held a meeting with the Common Market for Eastern and Southern Africa ( Comesa) Secretariat over the progress of the local sugar industry. The team led by Cabinet Secretary Phyllis Kandie met with the Comesa officials on Friday in Lusaka, Zambia to address a number of issues on the sector. The meeting just about three weeks away before the expiry of the trade safeguards granted to Kenya for the last one decade explains the Government commitment to lobby for a one-year extension as it pursues privatisation local sugar mills.

Horticulture export earnings drop again
Horticulture export earnings have dropped for the third consecutive year with growers blaming a strong shilling, subdued European demand and rising cost of production for the changing fortunes. Horticultural exports dropped 7.2 per cent from Sh89.9 billion in 2012 to Sh83.4 billion last year in line with a declining trend started in 2011, according to latest Kenya National Bureau of Statistics data. The industry had hoped to register a 10 per cent growth in the year.

Drought-prone Turkana banks on livestock, fisheries to turn fortunes
Turkana County Government is banking on livestock and fisheries through value addition to lift living standards of its people. Despite abundant resources that Turkana County boasts, it is one of the poorest regions in the country. The ravaging starvation does not help matters. Livestock and fisheries are the mainstay of the community with the potential running into billions of shillings. Within this backdrop though are efforts by the County

Safaricom targets diaspora cash in deal with US firm
Safaricom is set to sign a partnership deal with a US-based online payments and cash remittances company that could see it earn lucrative commissions from the multi-billion shilling remittances sent home every year by Kenyans in the diaspora. .

Commission targets KWS land for new railway line

The Kenya Wildlife Service will lose 250 acres of land in the first phase of acquisition of sites for construction of the controversial Standard Gauge Railway. The National Land Commission showed in a Kenya Gazette notice on Friday that the conservation agency would lose tracts of land in Taita Taveta, Kwale and Makueni counties through compulsory acquisition