Kenya is losing around Ksh300 million every week due to the conflict in the Middle East region. This was revealed by Agriculture CS Mutahi Kagwe.
The CS stated that the conflict in the Middle East region has started to affect the country’s exports. The country has been losing money in the meat and tea sectors because they depend on the Middle East region.
The country sends around Ksh300 million worth of meat products to the Middle East region every week. However, the conflict in the region has made the process slow down or even come to a complete halt.
The conflict in the Middle East region started at the end of February after the attacks in Tehran. The conflict escalated after the retaliation by the Iranian government.
At home, the government is now working hard to mitigate the effects. According to Kagwe, the government is trying to find new markets for the export of Kenyan products at this time when exporters are under pressure.
“We are trying to see where else we can send our products so that farmers and traders are not left stranded,” he said.
However, the effects of the conflict may be felt even beyond the export sector. The prices of oil in the global market have also been on the rise since the conflict started. The rise in oil prices has been attributed to the disruption of the Strait of Hormuz, which is one of the most important channels for the export of oil in the world.
The rise in the prices of oil means that the prices of fuel will rise. This is the time when the effects of the conflict may be felt even by ordinary citizens in the country.