Hope for Kenyan miraa traders as Somalia lifts ban - Capital Business
Connect with us

Hi, what are you looking for?

FILE

Headlines

Hope for Kenyan miraa traders as Somalia lifts ban

NAIROBI, Kenya June 10-Miraa traders are set to resume exporting the commodity to Somali after the lifting of a two-year ban which saw them lose out on earnings.

This is after Agriculture CS Peter Munya announced that the country’s new president Hassan Mohamud agreed to lift the ban on miraa imports from Kenya.

CS Munya says negotiations have been finalized and what is remaining is the signing of a deal which is set to take place in the next two weeks, a move that will see resumption of the Miraa trade between the two countries.

“We are just waiting to finalize the paperwork for us to resume trading miraa with Somalia,” said Munya

Former Somali President Mohammed Farmaajo suspended Miraa imports from Kenya two years ago citing COVID-19 restrictions but the suspension was never lifted as diplomatic issues kicked in.

The ban led to a loss of more than 50 tonnes of Kenyan khat valued at more than Sh20 million a day.

Following the deal, Munya has asked miraa traders to now prepare for the market, following the reopening of the market.

“We are taking the good news to our farmers to now prepare because the market will be open in two weeks,” he said.

He lauded President Uhuru Kenyatta for spearheading the talks that has seen the revival of the trade.

CS Munya also revealed that in the agreement, once the trade officially resumes, the Miraa cargo to Somalia will be using the Isiolo Airport to Mogadishu because it is the shortest route.

He said traders wouldn’t need to take their product all the way to Wilson Airport.

In the agreement, Munya said Somalia would export their fish and fish products to the Kenya market.

According to the Ministry of Finance, in 2021,  the import of Miraa contributed sh 1.3 billion in tax to the country’s revenue.

Visited 30 times, 1 visit(s) today

More on Capital Business

Kenya

NAIROBI, Kenya, May 17 – Kenya’s fast-evolving digital assets sector is heading into a regulatory showdown as authorities move to tighten oversight of cryptocurrencies,...

Kenya

NAIROBI, Kenya, May 17 – Hotpoint Appliances has partnered with Hisense in a deal aimed at accelerating the adoption of premium smart home and...

Kenya

Data released by the Kenya National Chamber of Commerce and Industry shows diesel in Uganda retails at about Sh174.37 per litre, nearly 28 percent...

Banks

NAIROBI, Kenya, May 13 – Britam Holdings Plc has brought together more than 100 Small and Medium-sized Enterprises (SMEs) in Thika for the Britam...

Companies

NAIROBI, Kenya, May 13 – betPawa is targeting grassroots football development in Kenya, highlighting the economic pressure facing community sport systems where thousands of...

Technology

The report ranked 17 Kenyan companies among Africa’s fastest-growing businesses, giving Kenya the second-highest number of firms after South Africa, which had 51 companies....

Government

Among the key deals is the Sh12.5 billion rehabilitation and modernisation of the Nairobi Commuter Rail project, which will upgrade rail connections linking Nairobi...

Kenya

The summit, scheduled for May 10 to 12, will bring together African leaders, investors, civil society groups and private sector players to discuss economic...