News

Kenya: Food Import Spending rose by 30% between January and April 2018

Kenya: Food Import Spending rose by 30% between January and April 2018
  • Comments   -   Tuesday, 12 June 2018 - 16:58

(Ecofin Agency) - In Kenya, food import spending jumped over the first 4 months this year. Central Bank of Kenya revealed that KSh68.63 billion were earmarked for food purchases over the period, reflecting an increase by 30% compared to last year.

This amount also represents about 11.64% of the country's total import expenditures which stood at KSh589.62 billion ($5.8 billion) during the period under review. This heavy food import bill results from bad weather conditions last year leading the country to increase purchases of corn, milk, rice, wheat and sugar.

Let’s note that agriculture is the mainstay of Kenya's economy, accounting for nearly 32% of GDP, and generating 45% of export earnings. Moreover it provides over 70% of informal employment in rural areas, according to the National Agricultural Export Development Board (NAEB).

Espoir Olodo

Nevsun Resources announced yesterday June 14, it will extend the life of...
Read more |  15 June 2018
In Mozambique, cotton export is expected to generate $50 million by next August,...
Read more |  15 June 2018
The communal and judicial authorities in Malanville (North of Benin) organized an...
Read more |  15 June 2018
Ivorian authorities gave Africa Radio the green light to launch its activities...
Read more |  14 June 2018
Namibia’s Competition Commission approved June 13 the acquisition by Weatherly International of...
Read more |  14 June 2018
The Ugandan government plans to adopt new tax relief measures to encourage...
Read more |  14 June 2018
In Nigeria, the construction of Dangote group’s subsea gas pipeline is expected...
Read more |  14 June 2018
Nevsun Resources announced yesterday June 14, it will extend the life of...
Read more |  15 June 2018
In Mozambique, cotton export is expected to generate $50 million by next August,...
Read more |  15 June 2018
The communal and judicial authorities in Malanville (North of Benin) organized an...
Read more |  15 June 2018
Ivorian authorities gave Africa Radio the green light to launch its activities...
Read more |  14 June 2018
Namibia’s Competition Commission approved June 13 the acquisition by Weatherly International of...
Read more |  14 June 2018
The Ugandan government plans to adopt new tax relief measures to encourage...
Read more |  14 June 2018
In Nigeria, the construction of Dangote group’s subsea gas pipeline is expected...
Read more |  14 June 2018

Copyright Agence Ecofin © 2018. All Rights Reserved.