Kenya is on a mission to attract American investors and strengthen bilateral ties with the United States. Investments, Trade, and Industry Cabinet Secretary Moses Kuria is leading a Kenyan delegation that is set to hold a trade and investment roadshow in New York, as well as attend a Bilateral Strategic Dialogue in Washington. These events will showcase the potential of investment opportunities in Kenya and Africa and explore new areas of collaboration in investment, trade, security, and other areas of mutual interest.
Dubbed “Why Kenya, Why Africa”, the roadshow will feature presentations by US government officials, Kenyan counterparts, and various sector players and investors, as well as networking events and other organised meetings. The Kenyan delegation will also attend the Bilateral Strategic Dialogue in Washington where they will engage their American counterparts on five key areas: economic prosperity, health, democracy and governance, defence cooperation, regional and multilateral issues, and long-term trade relations.
Kenya is leveraging these high-level meetings and international conferences to pitch and invite American investors to the three-day Kenya International Investment Conference (KIICO 2023) in Nairobi between May 29 and 31. Among the key issues to be discussed will be partnership in the commercialisation of biotech seeds and crops following Kenya’s decision to lift the ban on cultivation and importation of genetically modified crops.
According to the ministry, pitches to investors at such events are among ways employed by the Kenyan government to increase foreign direct investments from $500 million (Sh67.1 billion) in 2022 to $10 billion (Sh1.34 trillion) this year. CS Kuria will also participate as a speaker at the 26th annual Milken Institute Global Conference, in Los Angeles, where he will join global leaders and participants from over 4,000 institutions.
Kenya holds great potential for American investors as a gateway to Africa and has demonstrated a strong interest in building trade and investment relationships with the US. The roadshow and Bilateral Strategic Dialogue are a clear indication of the country’s willingness to take bold steps towards achieving this goal.
