Kenya recently signed some deals with firms from Saudi Arabia and the United Arab Emirates (UAE) to supply diesel, petrol, and jet fuel on credit for the next 6 months to ease mounting pressure on the demand for foreign currency as well as to try to stem the Kenya shillings slide vs. the US dollar and other major currencies.
In a deal backed by government-to-government arrangements, Saudi Aramco, Abu Dhabi National Oil Company, and Emirates National Oil Company will be supplying fossil fuels on credit to Kenya.
Churchill Oguttu returns to the podcast to help us understand this arrangement.
