Search
Close this search box.
#Africa #Business #Markets

Egypt and Kenya in talks over landmark shift in trade ties amid dollar shortages

Egypt and Kenya

Egypt and Kenya are discussing a landmark shift in their trade ties. Barter trade could help the two countries lift some pressure on their foreign currency demands.

Kenyan Treasury Secretary Njuguna Ndung’u has said that Egypt is seeking to buy tea using the system to save the two countries hundreds of millions of U.S. dollars.

The motivation behind this move stems from the severe shortage of US dollars in both countries, which has exacerbated inflationary pressures and placed a heavy burden on their economies.

Egypt and Kenya in talks over landmark shift in trade ties amid dollar shortages

Highlights from the 2023 IPPC Inauguration

Leave a comment

Your email address will not be published. Required fields are marked *