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KEPSA is the private sector apex and umbrella body set up in 2003, to bring together business community in a single voice to engage and influence public policy for an enabling business environment. over 500,000 direct and indirect members..
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KEPSA CEO HOSTS A DELEGATION FROM THE EMBASSY OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA
- Published On: 2022-09-14
14th September 2022
KEPSA CEO, Ms. Carole Kariuki hosted a delegation from the Embassy of the Federal Democratic Republic of Ethiopia at KEPSA Offices led by Amb. Workalemahu Desta Eshete, Deputy Head of Mission, to discuss areas of collaboration between KEPSA and the Ethiopian Business community. Ms. Kariuki apprised the Ambassador on KEPSA’s role in representing the private sector on cross-cutting issues and working with the Government and Development Partners to ensure that they are resolved.
The Ambassador noted that Ethiopia's economy has been growing with double digits pre-COVID-19 while in 2020 and 2021 the average growth has been 5.5% and has attracted a large number of direct foreign investments (FDI). Further, he noted that with Agriculture being the country’s backbone, there was still a gap of negative trade imbalance with high imports than exports which has led to short foreign exchange. Additionally, he applauded the Ethiopian government for putting up reform programs to boost production sectors in manufacturing and agriculture whilst opening up the economy in sectors such as telecommunications and banking which have shored up trade and investment opportunities. He also expressed excitement about the power purchase agreement in November 2022 where Ethiopia is expected to export 400 megawatts.
Ms. Kariuki noted that the tourism sector is advantageous to Kenya and can be used in fostering partnerships with Ethiopia through Safari and culture exchange products. Ms. Kariuki added that partnerships across different sectors for instance Aviation and sports should be tapped into to allow full exploitation of opportunities for the business community in the two countries. She expressed excitement about the versatility that is within sports and the opportunity in areas such as joint athletics training while competing with one another. Other areas noted for collaboration include trade, investments, telecommunications, banking, service sectors, and support in building strong business associations in Ethiopia.
Ambassador Desta urged that the business partnerships should be a priority to allow businesses between Kenya and Ethiopia to run efficiently and effectively when the LAPSET project is completed.
Conclusively, the Ambassador expressed optimism that the partnership with KEPSA will strengthen Kenya and Ethiopia's longstanding relationship as neighbors and as members of the Intergovernmental Authority on Development (IGAD).
Also, in the meeting was Mr. Belay Gebreselassie Kidane, Minister in the Embassy of the Federal Democratic Republic of Ethiopia, and Mr. Harrison Ngatia, KEPSA Head of Projects.