Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

Uhuru clarifies Kenya, Iran link

NAIROBI, Kenya, Mar 3 – The government has clarified that no agreements were signed between Kenya and Iran, only Memorandums of Understanding (MOUs).

Deputy Prime Minister and Minister for Finance Uhuru Kenyatta said the MOUs were to basically facilitate future trade agreements between the two countries.

Mr Kenyatta was speaking during the signing of a loan agreement between Kenya and Kuwait that will see the country receive Sh735 million for the upgrade of the Wajir Hospital.

“Once the project is complete the Wajir District hospital will become a referral hospital that will serve the North Eastern Province. This support is in line with our government’s commitment to eliminate inequality by paying special attention to the less developed parts of our country like the North Eastern Province,” Mr Kenyatta said.

Meanwhile, the Minister said that the government had not shifted its trade policy to focus on the Middle East, but is open for trade with whoever is interested.

“And to this end between the 16th and the 17th  of March of this year the government is planning to hold the third round table conference with our Arab development partners and financial institutions, to discuss and agree on a three-year investment program,” Mr Kenyatta said.  

The increased trade relations between the country and Middle East, especially within the President Kibaki regime, have not gone unnoticed by most quarters.

The biggest indication yet was the recent visit by Iranian President Ahmadinejad to the country last week.

Mr Kenyatta was reacting to media reports suggesting that the government had cancelled an oil deal estimated at Sh106 billion.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...