NAIROBI (Xinhua) -- Kenya is expected
to export 400,000 barrels of crude oil in 2019, becoming the
first east African nation to export oil to the international
market, a government official said on Tuesday.
Kamau, principal secretary in the ministry of petroleum and
mining told journalists in Nairobi that the oil sales are being
conducted under the early oil pilot scheme (EOPS) which seeks to
establish a market for Kenyan oil.
"The first batch of 200,000 barrels of oil will be exported
in the third quarter of 2019 and second will be sold towards the
end of the year," Kamau said.
Kamau said that most of Kenya’s oil will be sold in Asia.
He revealed that under the EOPS, which is being undertaken
jointly by Tullow Oil, Africa Oil and Total Oil, the country
will be producing 2,000 barrels of oil daily from its oil blocks
in northwest Kenya.
"However when the country attains full commercial production,
output is expected to range between 70,000 and 80,000 barrels of
oil daily," he added.
The government official said that Kenya will export its
petroleum resources as its oil refinery has been shut down
because it is inefficient.
According to the ministry of petroleum, crude oil will be
transported by road and until the proposed Lokichar to Lamu port
oil pipeline is complete.
Kenya discovered commercial oil deposits in 2012 and are
currently estimated at 750 million barrels of oil.
Kenya investor lobby
secure US $1.5 million dollars to boost regional trade
by Naftali Mwaura NAIROBI (Xinhua)
-- The Kenya Private Sector Alliance (KEPSA)
on Tuesday signed a 150 million shillings (1.5 million US
dollars) financing agreement with Trade Mark East Africa (TMEA)
to boost cross-border trade and investments.
Senior executives said the funding will support
implementation of KEPSA’s five year public-private sector
dialogue that aims to improve conditions for local companies to
expand operations across the East African region.
"The new grant will boost policy interventions aimed at
catalyzing growth of trade and investment opportunities for
Kenyan businesses in the region," said Brenda Mbathi, a board
member at KEPSA.
She said that KEPSA is keen to promote dialogue with
governments, investors and civil society to address regulatory
bottlenecks that have slowed down cross-border trade and
According to Mbathi, KEPSA public private sector dialogue
program aims to achieve a 10 percent reduction in the cost of
transporting goods across the borders.
The program also involves lobbying for reduced tariffs and
enhanced clearance of goods through digitization.
Frank Matsaert, the chief executive officer of Trade Mark
East Africa said that Kenya’s private sector has potential to
expand tentacles in the region subject to creation of platforms
that foster dialogue with governments.
"Building platforms where the private sector is able to voice
issues that are pertinent to the business environment is
"We are glad to partner with KEPSA to make sure that dialogue
takes place," said Matsaert.
Ahmed Farah, TMEA-Kenya Country Director said facilitating
local private sector to trade and invest across the borders will
boost economic growth and job creation.
"The private-public sector dialogue for trade and investment
program that will give a voice to the private sector is aligned
with our interest to catalyze a 25 percent annual increase in
exports and job creation through improved investment
incentives," said Farah.
Meanwhile, the East African Business Council (EABC) has
secured 3 million U.S Dollars from Trade Mark East Africa to
support advocacy aimed at reducing barriers to trade.
Peter Mathuki, chief executive officer of EABC said the grant
will support harmonization of customs and taxation regimes in
order to ease movement of goods and services across the borders.
United Nations says
private sector key to achieve sustainability agenda in Kenya
NAIROBI (Xinhua) --
Kenya should harness capital, technologies and
manpower from the private sector to hasten attainment of
sustainable development goals (SDGs), a UN official said on
Siddharth Chatterjee, UN Development Program (UNDP) Resident
Representative in Kenya said the government should partner with
businesses to scale up investments that advance inclusive and
"The private sector in Kenya can tap into investment
opportunities that sustainable development goals provide
especially in areas like healthcare, education, affordable
housing and food security," said Chatterjee.
He spoke at a forum on the role of businesses in the
promotion of UN 2030 goals organized by Kenya’s
telecommunications firm, Safaricom ahead of launch of its annual
sustainability report later in the week.
Chatterjee said that a conducive policy and regulatory
environment is a prerequisite to facilitate private sector
investments in sectors that promote equitable growth and
"Both large and medium-sized enterprises can channel
investments in maternal health, clean water, shelter and climate
resilient farming. Such investments will have positive economic
and social impacts," said Chatterjee.
He said that universal health coverage that is part of
Kenya’s four development blue prints present myriad investment
opportunities to the private sector.
"We require businesses to invest in technologies and
innovations that seek to expand coverage to both preventive and
curative healthcare in rural areas," said Chatterjee.
He urged businesses to be at the forefront of climate
response in Kenya through investments in green energy solutions
like solar and wind.
Sanda Ojiambo, head of corporate responsibility at Safaricom
said that Kenyan listed companies have embraced sustainable
practices given their financial and reputational benefits.
"We are convinced that long-term sustainability of our
business is dependent on adoption of practices that promote
environmental health, gender parity, diversity and innovations,"