Kenyan officials meet to discuss ongoing anti-corruption reforms amid mounting pressure.
Indian exporters are increasingly eyeing Africa as a lifeline to sidestep steep new US tariffs imposed as retaliation for purchasing Russian oil. After Washington slapped a 50% levy on Indian goods—among the highest globally—companies like Gokaldas Exports and Raymond Lifestyle are turning to African hubs such as Kenya, Ethiopia, and Botswana, which face tariffs as low as 10%. Some of these African countries also offer attractive incentives such as tax holidays and special economic zones. This strategic pivot allows Indian apparel, diamond, and jewelry exporters to continue serving US clients while mitigating financial strain. However, the transition isn’t without challenges: shifting production requires time, renegotiating contracts, and overcoming concerns about political instability in some African countries.
Bloomberg