The vital role of South African businesses in growing Kenya’s economy was impressed at a seminar jointly organized by the Kenya National Chamber of Commerce and Industry (KNCCI) and South Africa’s Department of Trade and Industry (dti) in Nairobi, Kenya.
Kenyan and South African business people committed to promote the economic growth of both countries; intra-African trade which currently stands at 12 percent; and to build mutually sustainable relations as they pursue Africa Agenda 2063.
Africa Agenda 2063 is the strategic framework for the socio-economic transformation of the continent over the next 50 years that builds on and seeks to accelerate the implementation of past and existing continental initiatives for growth and sustainable development such as The New partnership for Africa’s Development (NEPAD) as well as national, regional and continental best practices.
The seminar under the theme, “Exploring Trade and Investment Opportunities between Kenya and South Africa” was part of the dti’s Outward Selling Mission to Kenya.
“The dti’s new approach to continental development embraces an investment-led strategy anchored on the pillars of market integration, industrial development and infrastructure expansion,” the Director of Export Promotion at the dti, Seema Sardha said.
While identifying agri-business, services, automotives, capital equipment, infrastructure development and energy as some of the areas where the two countries can collaborate in, Sarda explained that Trade and Invest Africa (TIA), an entity within the dti has been established with the express purpose of advancing the strategy.
Joyce Ongundo, the Director of Internal Trade at the Kenyan Department for Trade, stressed the need for Kenyan and South African companies to devise market-oriented solutions to address the growing trade imbalance to create win-win solutions between the two countries.
She also underlined the Kenyan government’s commitment enhance trade and investment relations with South Africa.