November, Nairobi will host the second US- East Africa Business Summit, serves as an engagement platform for the U.S. and the greater East Africa region to focus on strengthening two-way, enterprise-driven, trade and investment, forging long-term economic ties and mutual prosperity.
The American Chamber of Commerce (AmCham) Kenya annual Business Summit will be held on November 4 – 5, 2019 in Nairobi.
The two days’ American Chamber of Commerce (AmCham) Kenya Summit will begin on November 4 is held in partnership with the Kenya and U.S. governments, as well as the U.S. Chamber of Commerce.
AmCham Kenya Board President Phillipine Mtikitiki described this saying, “The Summit is an opportunity to present and discuss realistic, feasible, collaborative measures and ways in which American and local businesses can leverage the numerous opportunities available in the various sectors of the economies of the region and the U.S. for mutual benefit.”
The focus on East Africa in this year’s Summit is based on the growing interest in the region as a single market and will see the participation of Tanzania, Rwanda, Uganda and Ethiopia.
The program will feature doing business in-country forums, in addition to in-depth sector forums on manufacturing, agribusiness, infrastructure, energy, health, and the digital economy. Matchmaking sessions within the program will also offer businesses an opportunity to engage, transact, initiate and close deals.
Kenya continues to attract American enterprises looking to access the region with the latest entrants being: Cigna, a leading American health services organization that has set up its regional offices in Nairobi; Abbott Laboratories, Corteva, a major American agricultural chemical and seed company now with regional offices in Nairobi and the American Tower Corporation poised to become the biggest private tower operator in Kenya apart from Safaricom.
In 2018, six commercial deals between Kenya and the U.S. worth Kshs 10.3 billion (US$100million) were signed during the Summit witnessed.
Over the same period, other American companies that have been operating in Kenya have also increased their investments.
They include Microsoft who in May 2019 launched one of two, Africa Development Centres in Nairobi. The company has invested up to US$100 million in both centres and is looking to increase engineers across both centres to 500 by 2023.
In July 2019, Del monte announced investment worth $5.8million in a new packing facility that will expand its productivity as well as increase export capacity, creating 200 more jobs over.
Del Monte Kenya is one of the largest American employers in Kenya with a direct workforce of 7,000 and an additional 28,000 local jobs created indirectly by its operations. Del Monte is also one of Kenya’s top exporters.
Similarly, Mars Wrigley Confectionery Inc., opened a US$70million manufacturing plant in Machakos County in April 2019 poised to create an additional 200 jobs.
Coca-Cola Central, East and West Africa Limited (CEWA Ltd) has partnered with the American Chamber of Commerce (AmCham) Kenya towards the Business Summit with sponsorship worth Kshs. 3.5 million (US$35,000).