Business News Briefs

African Union-US relations to spur inter-regional development

Strong relations between the African union and the United States are set to spur development across both regions, US Ambassador to the African Union (AU) Susan Page has said.

As far as the relationship between the AU and the US is concerned, Page states that it is getting stronger by the day. “Speaking during a recent address, the Ambassador added that representatives had to convince the American Congress that there is need for a standalone mission dedicated to the AU, an initiative that came to fruition.

The US has also been collaborating with the AU on various projects, which include the establishment of the United States’ Centre for Disease Control, which was started following the recent Ebola breakout. This was followed by the decision by leaders to establish an African centre for disease control where we assisted to establish it; we provided some equipment for it, assisted in creating a board for it among others.

Kenya has enough foreign exchange reserves to survive Brexit fallout, says CBK

The Central Bank of Kenya (CBK) has enough foreign exchange reserves and funds available from an IMF standby facility to weather any fallout from a British referendum on whether to leave the European Union, Governor Patrick Njoroge has said.

Speaking to a news conference on Tuesday, Njoroge added that a British vote to leave the EU could hurt the global economy and Kenya would feel the shock wave.

Kenya’s foreign exchange reserves stood at $7.6 billion (sh769 billion) on June 16, equivalent to five months import cover, according CBK figures.

Balala meets with French Ambassador ahead of travel expo

Tourism Cabinet Secretary Najib Balal has met with H.E. Rémi Maréchaux – Ambassador of France to Kenya,.

The Ambassador paid the CS a courtesy call yesterday barely a week after Balala met with other high profile representatives in a bid to boost the tourism sector.

The meeting, details of which are yet to be disclosed, comes ahead of the 2016 Magical Kenya Travel Expo.

More than 170 hosted buyers representing over 35 countries from Kenya’s key source markets in Europe, Asia, Americas, Africa and the Middle East are expected to grace the sixth edition of the 2016 in October. This year’s MKTE will be held from 12th to 14th October 2016 at KICC under the theme “Tourism for all: Explore Endless Travel Possibilities.”

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