The Head/ Principal Offices of all

Authorized Dealers in Foreign Exchange

Dear Sirs/Madam

Scheme for Warehousing in Kenya – Facilitation to the Exporters

In order to encourage exports to Kenya through a Warehousing Scheme, to be announced by the Export Promotion Bureau, it has been decided to facilitate the exporters utilizing EPB’s Warehousing Scheme in Kenya as under: -

1. Exporters will be allowed enhancement in period for repartition of export proceeds from existing 180 days to 270 days.
2. It will be permissible for the exporters to reduce prices on the unsold stock. General permission will be granted up to a discount of 15%, if the goods are not sold. Beyond this limit, SBP’s approval will be required on a case-to-case basis.
3. Present retention percentage of 10% of FOB value of goods realized in terms of para 32 (III) of Chapter XII of FE Manual, would be enhanced to 25% in case of export through the Warehousing Scheme.

Authorized Dealers are advised to bring the above to the notice of their constituents.