Kenya, UK to build Sh1 billion macadamia factory in Lamu
National
By
Sofia Ali
| Sep 04, 2024
Beatrice Gathigia, a macadamia farmer, in Gatitu village, Nyeri county. [File, Standard]
Kenya and the UK plan to build a $10 million (Sh1.3 billion) macadamia processing factory in Lamu.
Investments, Trade and Industry Cabinet Secretary Salim Mvurya said this is a significant step in enhancing bilateral trade and investment between the two countries. The new factory is expected to create more than500 jobs for Lamu and Kwale residents.
The development aligns with the broader economic partnership agreement established between Kenya and the UK in 2018.
READ MORE
Why fintechs have a duty to ensure positive social impact
Vivo defends Shell V-Power against poor quality claims
Truckers face mandatory use of planned Sh352b Mombasa-Nairobi Expressway
Suez Canal disruptions cost Kenyan fresh produce exporters
Chinese investor barred from visiting parents over Sh83.5 million tax arrears
Kenya eyes new IMF programme as current one nears end
International report warns against loss of control over AI
Fusion Estates taps ex-Mhasibu Housing CEO to drive its growth
Epra, Kebs say local petroleum meets required standards
No new taxes on employment income, says Treasury CS John Mbadi
CS Mvurya was speaking when he hosted a delegation of UK government officials led by High Commissioner Neil Wigan on Tuesday.
Recent strides in this partnership include a newly signed MoU with the British Chamber of Commerce aimed at improving trade relations and business environments.
Kenya has also welcomed the UK support in reducing flower export tariffs from 10 per cent to five per cent.
Mr Wigan said discussions on the Railway City project in Nairobi are also progressing with the Ministry of Transport.
Further, the UK has committed 540,000 euros (Sh77 million) in a programme with TradeMark Africa and the Kenya Association of Manufacturers to support small and medium-sized enterprises, improve border and customs facilities, and streamline tax procedures to boost Kenyan exports.