Kenya

State assures coffee farmers of Ksh.80 per kilo in new sector reforms

Co-operatives and MSMEs Cabinet Secretary Simon Chelugui on Tuesday launched the Coffee Cherry Advance Fund, which could see coffee farmers reap big from the state’s new reforms in the sector. Chelugui said the government has embarked on serious reforms of the coffee sector, including the Coffee Cherry Advance Fund, the re-establishment of the Coffee Board of Kenya and licensing of 14 unions to represent coffee farmers. Speaking during the event in Kangundo, Machakos County, Chelugui assured farmers that they would begin receiving Ksh. 80 for a kilo of coffee cherry through the new fund. 

(Source: Citizen Digital)

Tanzania

Tanzania annual inflation fell to 3.0% in December 2023

The National Bureau of Statistics of Tanzania (NBS) revealed that the Annual Headline Inflation Rate for December 2023 fell to 3.0% from 3.2% recorded in November 2023. Meanwhile, the overall index went up from 110.01 recorded in December 2022, to 113.34 in December 2023. The Food and Non-Alcoholic Beverages Inflation Rate for December 2023 fell to 2.3% from 3.7% in November 2023.

(Source: Tanzania Invest)

Uganda

Uganda Securities Exchange weekly trade briefing

In the first week of 2024, 3,002,860 shares of locally listed companies valued at UgShs689.7 million ($181,203) were traded on the Uganda Securities Exchange, up from 271,066 shares valued at UgShs12.8 million in the last week of 2023. The most active company was Umeme Limited, the power utility, with 1,380,600 shares worth UgShs552.2 million traded. This was followed by MTN Uganda with 596,660 shares worth UgShs104.2 million, and Stanbic Holdings Uganda, the holding company of Uganda’s largest bank, Stanbic Bank, with 1,008,800 shares worth UgShs32.3 million. Airtel Uganda sold 10,000 shares worth UgShs940,000, while Uganda Clays Limited sold 6,800 shares worth UgShs88,400 during the week.

(Source: Uganda Business News)

Ethiopia

Ethiopia’s over-reported flower export data raises confusion

A misalignment between fresh flower export revenue data has created confusion between regulators at the central bank, the Customs Commission, and the Ministry of Agriculture.

A new reconfiguration of last year’s export reports finds that flower export revenues are only two-thirds of the officially disclosed figures.

The National Bank of Ethiopia (NBE) registered cut-flower export revenues nearly at USD 600 million for the 2022/23 fiscal year, making flowers the second-most valuable export commodity, after coffee.

Sofia Kassa (PhD), a state Minister of Agriculture, reiterated this figure during discussions on the horticulture industry with stakeholders in Holeta town, on January 4, 2024.

(Source: The Reporter)