News

Kenya pumped $1bn into food import in H1 2018

Kenya pumped $1bn into food import in H1 2018
  • Comments   -   Friday, 10 August 2018 - 16:07

(Ecofin Agency) - Between January and June this year, Kenya’s food import hit a half-year record, surpassing KSh100 billion for the first time, Businessdailyafrica reports.

Figures from the Kenya National Bureau of Statistics (KNBS) showed that the import bill stood at KSh108.51 billion ($1 billion), up 12.5% from H1 2017. Main imports include corn, wheat flour, rice and sugar.

This uptick reflects Kenya’s dependence on the international market for food supply mainly due to weakness in agricultural products’ processing. According to AfDB, 91% of the country’s agricultural exports are in raw or semi-processed form. Also, the sector faces a lack of irrigation facilities which makes it more vulnerable to climate fluctuations and increases imports. Let’s recall that agriculture accounts for nearly a third of Kenya's GDP.

Espoir Olodo

On October 18, 2018, Léon Juste Ibombo, Congo’s minister of posts and...
Read more |  19 October 2018
JSE - listed (Johannesburg Stock Exchange) IT company Altron and Huawei partnered to...
Read more |  19 October 2018
Bank of Kigali will issue new shares at CFA270 each, the bank...
Read more |  19 October 2018
Kenya plans to attract about 2.5 million tourist arrivals per year by...
Read more |  19 October 2018
Tunisia is being watched by the Eurobond market following its announcements that...
Read more |  19 October 2018
The African Development Bank’s efforts to channel critical investment funding to Africa’s...
Read more |  19 October 2018
Kenya plans to attract about 2.5 million tourist arrivals per year by...
Read more |  19 October 2018
Tunisia is being watched by the Eurobond market following its announcements that...
Read more |  19 October 2018
The African Development Bank’s efforts to channel critical investment funding to Africa’s...
Read more |  19 October 2018

Copyright Agence Ecofin © 2018. All Rights Reserved.