India As Trading Partner Is Largest Exporter To Kenya
India is the largest importer and exporter through the Port of Mombasa.
In welcoming Indian High Commissioner to Kenya H.E Yogeshwar Varma on his official visit to Mombasa, KPA chairman Danson Mungatana observed:
"In 2013 Kenya Export to India through the Port of Mombasa stood at 304,000 tonnes while imports from India stood at 4.1 million tonnes.
"The statistics reflects how significant India is to the Port of Mombasa although the trade balance is not in Kenya’s favour.
"This is a wakeup call to Kenyan manufacturers to explore and export more to this second largest most populace nation in the world."
The Indian High Commissioner to Kenya was accompanied by his Deputy Sushil Singhal and Defense Adviser Caption (NI) Nitin Kapoor.
India and Kenya have been experiencing growing trade and commercial ties over the years.
Kenya’s economic prospects for next 50 years
We have written and talked enough about the last 50 years, the failed opportunities and the great triumphs. We have downgraded one national triumph, however: pacifying Somalia where a superpower had failed.
Let’s focus on the next half century. On a selfish note, if I live to be Mandela’s age, I shall be there to celebrate Kenya’s centenary.
We all hope that we learnt our lessons in the past 50 years. A few issues will predominate the next 50 years.
The first will be the environment. Wangari Maathai may be gone, but her legacy will live on. The earth is our mother, and we must continue taking care of her. In the next 50 years, there will an increased demand for Earth’s resources, both renewable and non-renewable.
MasterCard aims to increase electronic payments
MasterCard today announced the licensing of Guaranty Trust Bank (GTBank) to issue MasterCard debit, credit and prepaid cards in Kenya. The collaboration is expected to increase the adoption of electronic payments in the country, especially in the retail banking sector.
James Wainaina, Vice President and Area Business Head, MasterCard East Africa said: “MasterCard’s vision for East Africa and the rest of Africa is a world beyond cash and we can only achieve this by working with industry partners that have a similar goal. As our nation moves towards being a cashless society, we are proud to work with GTBank as they move towards retail banking and whose retail focus will further the adoption of electronic payment systems in Kenya’s fast-growing retail sector.â€
Kenya seeks partnership with private sector to grow economy
Kenyan President Uhuru Kenyatta on Thursday said his government will work closely with the private to grow the economy despite internal and external challenges.
Kenyatta said increased involvement of private companies in improving the volume and value of economic activity in the country would boost ongoing efforts to foster rapid development.
"These actions will improve trust in the public institutions that we represent; and which, in turn, we expect to outlive us and become our legacy," he said when he officially opened PricewaterhouseCoopers' (PwC) new ultra-modern office complex in Nairobi.
