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President William Ruto joins US-Kenya business roadshow in San Francisco

Kenya’s President William Ruto will address leading US technology companies and investors on Friday at the US-Kenya Business Roadshow in San Francisco organised by the American government’s Prosper Africa initiative.

The roadshow – also co-organised by the US Embassy in Nairobi – highlights the business and investment potential in Kenya’s booming tech sector, a statement from the US Embassy in Kenya said.

The event is part of a three-city US-Kenya Roadshow tour showcasing opportunities for companies exploring doing business and investing in Kenya, it said. 

Kenya is one of the United States’ most important African trading partners, and it has benefited greatly from the Africa Growth and Opportunity Act (AGOA), a preferential trade policy that will expire in 2025.

The East African country is hoping to sign a free trade agreement (FTA) deal with the US. The two countries began discussions over the deal in 2020, under then-President Donald Trump and then-President Uhuru Kenyatta of Kenya. 

However, the administration of President Joe Biden has not pursued the FTA talks further, instead launched the US-Kenya Strategic Trade and Investment Partnership (STIP) in July 2022. 

The U.S. roadshow launched on April 25 is seen as part of the efforts by the two countries to strengthen a commercial relationship that has lasted decades. The US already has strong geopolitical relations with Kenya, which it regards as a regional stabilising force and a key partner for Washington on issues including counterterrorism.

The roadshow started in New York City with a focus on the apparel sector, then traveled to Chicago on September 13 to highlight agri-business, and will conclude this week in San Francisco. Each stop featured a mix of panel discussions, business matchmaking, and networking.

US Ambassador to Kenya Margaret Whitman is also part of the road show. Companies participating in the events include Microsoft, Cisco, IBM, Kyosk, SunCulture and many more.      

Prosper Africa is a presidential-level national security initiative aimed at strengthening the strategic and economic partnership between the US and Africa by activating transformative two-way trade and investment flows. 

Through Prosper Africa, the US government partners with businesses and investors to advance deals, promote market opportunities, and strengthen business and investment climates, the US Embassy in Nairobi said. 

Source: ZAWYA



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