KEPSA in conjunction with Enterprise Singapore (ESG) and the Singapore Business Federation (SBF) convened a joint roundtable and networking session on 12th June 2018 at Villa Rosa Kempinski Nairobi. The forum drew business leaders and investors from Kenya and Singapore from various sectors namely: info-communications technology, real estate, construction, shipping and logistics, and sought to discuss ways in which Singapore firms could increase trade and investments with Kenya. The session also sought to provide Kenyan and Singaporean investors with a better understanding of the other country’s markets.
KEPSA CEO, Ms. Carole Kariuki, in her opening remarks assured potential investors of KEPSA’s continued commitment to invite foreign partners to invest in Kenya’s Big Four development as set out by H.E President Uhuru Kenyatta. Ms. Kariuki went on further to encourage the Singapore business delegation to explore opportunities for public-private partnerships in their sectors of interest as well to consider Business to Business partnerships, joint ventures with Kenyan firms, mergers, equity financing and technical support.
SBF Chairman, Mr. Teo Siong Seng, in his address, said there were many ways in which Singapore companies could work with Kenya businesses to increase mutually beneficial economic growth, owing to both countries standing as the business hubs in their respective regions. Reflecting on Singapore’s significant transformation, Mr. Seng said, “Many of our companies have gained much developmental capabilities and experience in transforming Singapore from a small island nation with no natural resources, to one of the biggest and busiest commercial hubs in the world today.” He further emphasized Singapore’s strategic location at the crossroads of major trade routes that placed it as a business hub of the Southeast Asia region, therefore making it an attractive location for Kenyan companies who wish to expand there.
In a related event, Enterprise Singapore (ESG) inaugurated its Nairobi overseas office on 13th June 2018 at Villa Rosa Kempinski. The new office’s main objective is to help Singapore firms enter the East African market and also improve investments between Kenyan and Singaporean markets by identifying investment opportunities for Singapore companies. Several commercial MOUs were also signed between Kenyan companies and their Singapore counterparts, joining the growing number of Singapore firms who have set up in Kenya.