UK government to fund Sh30bn into second phase of TMEA programme

The UK government’s Aid Ministry has announced the success of the first phase of its Kenya trade programme.

The Trade Mark East Africa (TMEA) programme aims to support technological improvement within the country’s trade sector.

Due to its success, the government will be funding the project with an additional £211mn (Sh30.2bn) for its second phase.

Penny Mordaunt, the UK’s Secretary of State for International Development, visited Kenya earlier this week.

“Here in Kenya technology is delivering UK aid in new ways, from innovative cash transfers using biometrics, through to trade technologies that support economic growth, jobs and investment,” said the Secretary of State.

SEE ALSO:

• Mombasa to get a free trade zone for motor vehicles

• EAC states’ refusal to open borders is affecting trade

• Trader’s capital goods imports fall by 8.7% in Kenya

• Read the latest issue of Business Chief, Africa edition, here

“It is in all our interests that we harness the best of British innovation with African entrepreneurialism – to create jobs, defeat poverty, and support our future trading partners, as we work towards a shared prosperous future,” she added.

The UK is ranked the fifth highest importer of good to Kenya, with the trade between the two countries being valued at more than £1bn (Sh144bn) annually.

The UK’s Department of International Development claims that innovative technology is helping Kenya build resilience against climate changes – such as drought – as well as building the nation a modern economy.