The Kenyan shilling has demonstrated continued strength against the Ugandan and Tanzanian currencies. As of April 4th, the Kenyan shilling was quoted at USh29.45 and Tsh19.69.
This represents a gain compared to the previous month, with the Kenyan shilling trading at USh27 and Tsh18 in March. Similarly, in February, the shilling stood at USh24 and Tsh15.
In January, Kenya reaffirmed its commitment to strengthening ties with East African countries, recognizing them as significant trading partners. Prime Cabinet Secretary and Foreign and Diaspora Affairs CS Musalia Mudavadi emphasized the importance of collective action among member states to realize the East African Community’s vision for prosperity, competitiveness, security, stability, and political unity.
Mudavadi made these remarks during a meeting with Tanzanian counterpart January Makamba on the sidelines of the Ministerial meeting of the Non-Aligned Movement (NAM) Member States Summit in Kampala, Uganda. The ministers agreed to pursue extensive bilateral engagements to bolster diplomatic relations between Kenya and Tanzania.
Highlighting the historical ties and cooperation between Kenya and Tanzania in various sectors, Mudavadi underscored Kenya’s efforts to strengthen foreign relations and diplomatic engagements globally.
In March 2024, Kenya and Uganda announced plans to launch a one-stop border post at the Suam border point in Trans Nzoia along the Kenya-Uganda border. This initiative, funded by the African Finance Development Bank and supported by China State Engineering Construction Corporation, aims to centralize immigration, Customs, security, and sanitary inspections, thereby enhancing efficiency in transporting and clearing goods.
President William Ruto, speaking at the official opening of the 3rd sitting of the 3rd session of the 5th East African Legislative Assembly (EALA), mentioned the impending launch of the one-stop border post in Suam. He emphasized that this collaborative project seeks to boost trade between Kenya and Uganda by streamlining border procedures and facilitating smoother cross-border movements.
