The purchase of oil will be done at the expense of the local currency, Kenyan President William Ruto said on March 22, according to Anadolu Agency.
Ruto announced that his government would now buy oil in Kenyan shillings.
“I want to reassure those in Kenya who are having trouble accessing dollars that we have taken steps to ensure the availability of the dollar in the next two weeks, things will be different because our fuel companies will now pay for fuel in Kenyan shillings. ”Ruto said at the Nairobi Stock Exchange.
The president said his administration has taken steps to address the dollar shortage, including an agreement to allow Kenyans to buy gasoline on six-month credit.
“I give you free advice that those who save dollars may soon suffer losses”– he said. “You better do what you have to do, because in a couple of weeks this market is going to change”Ruto warned.
Source: Rossa Primavera
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