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Workers at an Export Processing Zone. [File, Standard]
Kenyan industry and agriculture sectors are breathing a sigh of relief following the extension of the Growth and Opportunity Act (Agoa) until the end of 2028, bringing to a close the period of uncertainty after its expiry last year, for now.
The extension includes a retrospectively applied refund option for importers who paid duties during the period between expiry and renewal, further easing the concerns of importer-led businesses.
In September of last year, the expiry and subsequent lack of renewal of Agoa sent unwelcome ripples through Kenyan and other African markets.
