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Kenya: Uhuru tables his Investment Pitch on high platforms

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As the first official encounter with Trump since Uhuru’s second stint in power, President Uhuru Kenyatta is in the U.S to meet with Donald Trump and executives of top U.S companies to promote Kenya as a preferred investment destination.



Immediately after this visit, the President plans rushing back home to welcome British Prime Minister Theresa May who makes her maiden trip to Africa and is going to be the only visit by a British PM to Kenya since Margaret Thatcher visited Kenya in 1988.

It also comes at a time when both leaders have pet projects they must fulfill before the end of the reign. Uhuru Kenyatta is determined to fulfill a legacy that builds on manufacturing, health, food security and housing, while Theresa May is determined to steer the British economy in post Brexit era

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Incidentally, the main country that has taken away trade from US and Britain marks the next stage for Uhuru to present his case. China has taken over most of the trade the two traditional trading partners used to enjoy. President Uhuru will lead a strong delegation of Kenyans to the Forum on China-Africa Cooperation (FOCAC) Beijing China, where Kenya will seek to seal funding for major projects including the Naivasha- Kisumu-Busia section of SGR railways as well as extra funding for the Lamu Port and Lamu-Southern Sudan-Ethiopia Transport (LAPSSET) project.

Kenya is grappling with a negative balance of trade with all the three partners and at the same time a crippling debt that the country has been warned it would jeopardize the country’s development. Based on this, the country is exploring expanding its foreign trade to boost its kitty and increase wealth. Last month, Kenya launched its international trade strategy as a way of improving trade.

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24 Hours Across Africa

Nissan to recall over 40,000 cars due to malfunction of brake fluid leak

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Japanese automaker gaint Nissan says,  it’s recalling nearly 400,000 vehicles in the U.S. because of a braking system defect that could cause them to catch fire.

Users and Owners are advised to park affected vehicles outside and away from structures if the anti-lock brake system warning light comes on for more than 10 seconds.

The Japanese automaker says a pump seal may become worn down and cause brake fluid to leak. “If the warning is ignored … the brake fluid leak may potentially create an electrical short in the actuator circuit, which in rare instances, may lead to a fire,” the company says in documents sent to the National Highway Traffic Safety Administration.

The recall affects four different models in the U.S.: the Nissan Murano SUV, model years 2015 to 2018; Maxima sedans, model years 2016 to 2018; and the Infiniti QX60 and Nissan Pathfinder SUVs, model years 2017 to 2019.

Nissan says in a statement emailed to NPR that it is working on a fix and that owners of affected vehicles will be notified beginning in early December 2019. “Once the remedy is available, owners will receive a final notification letter asking them to bring their vehicle to an authorized Nissan dealer or INFINITI retailer to have the remedy work completed at no cost for parts or labor,” the company says.

This isn’t the first time Nissan has had problems with brake fluid leaks. Last year, for example, Nissan recalled more than 215,000 vehicles. The automaker says vehicles in the 2018 recall that haven’t been repaired are included in the current recall.

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24 Hours Across Africa

World food prices hike for first time in five months: U.N. FAO

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World food prices rose for the first time in five months in October, boosted by jumps in quotations for sugar and cereals, the United Nations food agency said on Thursday.

The Food and Agriculture Organization (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 172.7 points in October, up 1.7% on the previous month and 6.0% year-on-year.

FAO also predicted that cereal production would be 2.704 billion tonnes in 2019, slightly lower than its last forecast.

The FAO sugar price index jumped 5.8% from September levels, largely because of expectations of lower supplies in the year ahead following forecasts of large reductions in sugar output in India and Thailand.

The cereal price index rose 4.2%, with wheat and maize export prices climbing on the back of reduced crop prospects in several major producing countries and “robust trade activity”. By contrast, rice prices fell, hit by subdued demand and expectations of an abundant basmati harvest.

The vegetable oil price index increased 0.5% to reach its highest level in more than a year, while the meat price index rose 0.9%, driven by higher import demand especially from China.

By contrast, the dairy price index dropped 0.7% in October, as lower quotations for cheese offset increases in those for skimmed and whole milk powders, FAO said.

FAO lowered its forecast for global cereal production in 2019 by some 2 million tonnes, pegging world cereal output at 2.704 billion tonnes, but still up 1.8% from 2018 levels.

The U.N. agency said worldwide coarse grain production in 2019 was seen at 1.425 billion tonnes, down 1.3 million on the previous forecast.

Wheat output was seen at 765 million tonnes, down nearly 1 million tonnes on the last outlook, but still on course to set a new record and up 4.5% on 2018 levels.

The forecast for global rice production was put at 513.4 million tonnes, little changed on the previous forecast and slightly below 2018 levels.

Source: Reuters

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