The Kenyan shilling has continued to gain against the Ugandan and Tanzanian currencies.
As of April 4, the Kenyan shilling has been quoted to trade at USh29.45 and at Tsh19.69.
The Kenyan shilling has gained as compared to March when it was trading at USh27 and at Tsh18.
In February, the shilling was trading at USh24 and at Tsh15.
In January, Kenya pledged to strengthen ties with East African countries as they are the major trading blocks.
Prime Cabinet Secretary and Foreign and Diaspora Affairs CS Musalia Mudavadi said that all member states must rally together and envisage the EAC’s vision.
He said the vision relates to a prosperous, competitive, secure, stable and politically united East Africa, for regional unity to be realized.
The CS spoke while in a meeting with his Tanzanian counterpart January Makamba on the sidelines of the Ministerial meeting of the Non-Aligned Movement (NAM) Member States Summit in Kampala, Uganda.
The two ministers for Foreign Affairs agreed to pursue extensive bilateral engagements as a measure of strengthening and advancing the foreign diplomatic policies of Kenya and Tanzania.
“Kenya and Tanzania enjoy long-standing historical ties with close cooperation in key sectors of economic and cultural advancements,” he said.
“Being one of our key trading partners within the region, this collaboration extends beyond EAC and Africa as Kenya is known to have continuously improved its foreign relations and diplomatic engagements globally.”
In March 2024, Kenya and Uganda pledged to launch a one-stop border post at the Suam border point in Trans Nzoia along the Kenya-Uganda border.
The Suam border post, funded by the African Finance Development Bank and supported by China State Engineering Construction Corporation, will centralize immigration, Customs, security, and sanitary inspections, improving efficiency in transporting and clearing goods.
“In a couple of weeks, President Museveni and I will be launching a one-stop border post in Suam,” President William Ruto said during the official opening of the 3rd sitting of the 3rd session of the 5th East African Legislative Assembly (EALA).
He said the collaborative project aims to enhance trade between the two neighbouring countries.
The upgraded post will bring together immigration, customs, security, and sanitation checks in one central location.
