The East African
Monday March 15 2021
UK High Commissioner to Kenya Jane Marriott said the UK-Kenya trade deal will be extended to the rest of the East African Community. PHOTO | FILE | NMG
Summary
UK High Commissioner to Kenya Jane Marriott said the deal will be extended to the rest of the EAC.
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The UK government has sought to allay fears that the recently signed British government s new bilateral trade agreement with Kenya will undermine the East Africa Community Customs Union protocol.
While addressing the media shortly after holding the first mini Kenya-UK trade exhibition at a Nairobi hotel on Friday, the UK High Commissioner to Kenya Jane Marriott said the deal will be extended to the rest of the EAC.
THE STANDARD By
Vivianne Wandera |
March 13th 2021 at 14:25:00 GMT +0300
Trade and Industrialisation Betty Maina (left) presents a gift to UK High commissioner to Kenya Jane Marriott (right) on March 12, 2021, at PanAfric Hotel. [Edward Kiplimo, Standard]
The recently signed economic trade agreement between Kenya and the United Kingdom has a lot to offer, the government has said.
The economic partnership agreement was met with uproar from local traders and parliament with fears that it could lead to unfair competition for local producers.
The Ministry of Trade and Industrialisation, however, says the trade deal will open up the UK more to Kenyan goods and services.
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BUSINESS NEWS
Kenya s Parliament building in Nairobi (PHOTO: FILE)
NAIROBI, KENYA: A multi-billion trade deal between Kenya and United Kingdom has been ratified by both countries’ parliaments.
Parliament on Tuesday ratified the trade deal, which is estimated at Sh200 billion, a few days after the UK counterpart did the same.
On Wednesday, British High Commissioner to Kenya Jane Marriott in her tweet noted that the deal will bring significant benefits for Kenyan and British businesses, workers and the economies.
“Pleased our Economic Partnership Agreement has passed through both the UK and Kenyan Parliament. We look forward to the exchange of ratification instruments soon. This is a deal which brings significant benefits for Kenyan and British businesses, workers and our economies,” she tweeted.
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BUSINESS NEWS
Equity Group MD and CEO Dr. James Mwangi [PHOTO: Wilberforce Okwiri, Standard]
Equity Group Holdings has signed a Sh11 billion loan facility to support micro small and medium enterprises (MSMEs) during the coronavirus pandemic.
The deal was signed with Team Europe, Germany’s DEG, the Netherlands FMO and the UK’s CDC Group in Nairobi yesterday.
The lender has committed to loan repayment accommodation for up to 45 per cent of the customers whose cash flows and operation cycles were likely to be negatively impacted during the pandemic.
This is the fourth tranche for Equity Group, having signed a Sh5.5 billion loan facility with the International Finance Corporation in September last year and Sh11 billion from Proparco in October.
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BUSINESS NEWS
British High Commissioner to Kenya Jane Marriott [David Njaaga, Standard]
A multi-billion shilling trade deal between Kenya and the United Kingdom (UK) has been endorsed by the two countries’ parliaments.
MPs on Tuesday ratified the trade agreement, which is estimated at Sh200 billion, a few days after their UK counterparts did the same.
On Wednesday, British High Commissioner to Kenya Jane Marriott in her tweet noted that the deal will benefit Kenyan and British businesses, workers and the economies.
“Pleased our Economic Partnership Agreement has passed through the UK and Kenyan Parliament. We look forward to the exchange of ratification instruments soon. This is a deal which brings significant benefits for Kenyan and British businesses, workers and our economies,” she tweeted.