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AfCFTA gets real after a pandemic-induced lull

AfCFTA gets real after a pandemic-induced lull

SETH ONYANGO, BIRD STORY AGENCY KENYA’S recent twin shipment of batteries and tea to Ghana –– the first from an East African economy under AfCTFA –– has injected fresh impetus into the fledgling free trade outfit. They also underscore the importance of the trade area to export receipts amid biting global supply chain disruptions. The shipments are a part of a trial phase to ramp up trade under AfCFTA involving Kenya, Ghana and six other states: Cameroon, Egypt, Mauritius, Rwanda, Tanzania and Tunisia. Last week, AfCFTA Secretary-General Wamkele Mene revealed that at least 96 different products from the eight countries…
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Kenya gets $750 mln World Bank loan to help recovery from COVID-19 effects

Kenya gets $750 mln World Bank loan to help recovery from COVID-19 effects

DUNCAN MIRIRI KENYA has received a $750 million loan from the World Bank to support its budget and help the East African economy recover from the effects of the COVID-19 pandemic, the multilateral lender has announced. The Kenyan government has been pushing hard to secure foreign funding to fill a wide budget deficit before its financial year closes at the end of this month. The $750 million disbursement is part of World Bank's Development Policy Operations (DPO), which lends cash for budget support instead of financing specific projects. The bank said some of the funds would go towards setting up…
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