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WATCH: Kenya supports British exit from EU, expects no major harm

27 June 2016, 13:58

Nairobi - Kenya says it supports Britain's exit from the European Union and that it expects no major harm to its economy in the wake of fears of recession following the vote.

Kenyan President Uhuru Kenyatta said in a statement Sunday that the vote was the democratic right of the British people and that he respects the decision of the country that colonised it.

The Star reported that the President insisted that all will be well despite well documented reports of trouble looming for some of Britain's biggest beneficiaries such as Kenya.

He stated that the immediate repercussions for Kenya are limited but that however, with the exit, there would be need for both Kenya and the East African community to negotiate separate trade agreements with the United Kingdom with the current engagements within the framework of the EU, he said in his statement.

As reported by Citizen TV, financial experts believe that there will be need for Kenya to prepare well to deal with any aftershocks that might result from the exit last week of Britain from the EU in a historic referendum vote which saw Prime Minister David Cameron forced to resign in the wake of his failure to convince British people to remain in the EU.

Kenya's Central Bank had last week stated that there would be no effect on the economy and that any loopholes in that regard had been sealed, Central Bank Governor Patrick Njoroge stated.

In the wake of the British vote, there has been a petition to call for a second referendum which has so far garnered close to 1 million votes, in a bid to return to the polls and reverse the earlier decision.

The Washington Post reported that days after the exit from the EU, British people, according to search engine Google, have prominently asked for the meaning of the European Union, showing the gravity of the vote on most.

What does Brexit mean? What is its repercussions to the world? The New York Times explains why the vote is important to the world and what effect it will have in the coming months and years.

Watch video

- News24


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