Home > Insights > Kenya Tea Development Agency announced that the tea farmers will receive 16 KES per kilo of tea instead of 15 KES delivered to factories monthly.
Tuesday, 26 Feb 2019

Kenya Tea Development Agency announced that the tea farmers will receive 16 KES per kilo of tea instead of 15 KES delivered to factories monthly.


Insights Africa

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Economic Outlook

Economic Outlook

  • Kenya Tea Development Agency announced that the tea farmers will receive 16 KES per kilo of tea instead of 15 KES delivered to factories monthly. The new payment mode will be implemented by the beginning of March 2019.
  • The International Finance Corporation (IFC) will invest 600 MM KES (5.9 MM USD) in technology-based companies in Kenya and other African markets. This marks the latest investment in the sector in which IFC has committed more than 150 BN KES (1.5 BN USD) worldwide.
  • Chinese firms are likely to diversify from infrastructure projects in Kenya in the coming year to manufacturing and ICT sectors, which have clear financial returns.
  • The International Monetary Fund (IMF) announced that the ratio of Uganda public debt to the GDP will rise to 49.5% in 2021/2022 because of continued large fiscal expenditure by government.
  • Standard and Poor has affirmed Rwanda at B/Boutlook positive reflecting the upcoming pipeline of investment projects, along with higher exports and consumption that will drive strong medium-term growth prospects.
  • Tanzania and France have promised to strengthen development cooperation and increase ties in business and investment. The cooperation also seeks solutions to conflicts facing the Great Lakes Region, the Indian Ocean Zone and other security challenges in those areas.
  • Almost 36 Indian companies participated in the 14th edition of the International Trade Exhibition (Tanzania Trade Show) including South Africa, China, Poland, and Saudi Arabia attracting agriculture, automotive, pharmaceutical, industrial and machinery sectors.
Political Events

Political Events

  • Ethiopia Minister of National Defense, Aisha Mohammed Musa, has received UAE Ambassador, Mohammad Salem Al Rashidi, at the ministry in Addis Ababa to discuss issues of mutual interest, especially topics related to defense and military cooperation.
  • Ugandan Minister of Foreign Affairs, Sam Kutesa, announced that his country is determined to widen relations with Iran and welcomes the contribution of Iranian companies.
Stock Market

Stock Market

  • The Capital Markets Authority (CMA) last Thursday suspended dealing in oil marketer KenolKobil's shares (KENO) on the Nairobi bourse for 12 trading days. The freeze on trade will facilitate reconciliation of the shares which have been tendered for purchase by the French conglomerate Rubis Énergie SAS for a price of 23 KES per piece.
  • Investors lose 50 MM USD on the Nigerian stock market ahead of the 2019 general elections.
Companies Transactions

Companies Transactions

  • German carmaker Volkswagen's South African unit expects to produce a record number of vehicles in 2019 despite a slow domestic economy. It manufactured 126,463 vehicles in 2018 but planning to produce 161,900 vehicles in 2019 with 108,000 destined for export.
  • Equity Bank will take a 10 BN KES (100 MM USD) long-term loan from the International Finance Corporation (IFC) to shore up the capital of its Kenyan banking subsidiary and lend to local small and medium-sized firms.
  • Johannesburg-based real estate firm Paragon Group is introducing new architectural software solutions in Kenya to help developers and owners view concepts via virtual reality.
  • Egyptian start-up SWVL has expanded its route offerings since its January debut in 2019 in Nairobi to include the populous metropolitans along Thika Road, Langata Road, Waiyaki Way, Ngong Road and Limuru Road.
  • The African Development Bank has prepared a feasibility study to explore the potential of electricity cooperative business models in Nigeria and Ethiopia. Currently, power shortages diminish the region GDP growth by 2 to 4% per year, holding back job creation and poverty reduction efforts.
  • Standard Chartered announced that it had completed a simultaneous multi-market launch of its digitally-led retail banks in Tanzania and Ghana, with Kenya rollout scheduled to occur shortly.
  • South Korea Hyundai Motor Company opened a 10,000 per year vehicle capacity assembly plant in the Ethiopian capital Addis Ababa which is considered its first factory in East Africa.
  • Ethiopian Airlines has announced that it has finalized all preparations to celebrate International Women's Day by operating an "All-Women Functioned Flight" from Addis Ababa to Stockholm, Oslo route on 8th of March 2019.

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