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KEPSA
7th Floor, South Tower, Two Rivers, Limuru Rd, Nairobi.
info@kepsa.or.ke
During the second day of the US Presidential-Led Business Forum in Atlanta, KEPSA reiterated the need for the private sector to seize global opportunities through forging global partnerships for trade and skills transfers, among other areas of global partnerships. In this line, KEPSA members witnessed the launch of the New Vivo Fashion Group Retail Store in Atlanta, Georgia, demonstrating the impact of visionary enterprise and the role of women in leadership, business, and entrepreneurship.
While presiding over the launch, Kenya’s President H.E. William Ruto commended Vivo's powerful story, saying, “We are elated to see that Vivo has not ventured into the American market alone; it has brought along other ‘Made in Kenya’ brands. This is an African spirit where businesses find innovative ways to support each other’s advancement as we take the global stage.”
Furthermore, KEPSA members were also part of the team that witnessed the Coca-Cola System, consisting of The Coca-Cola Company and its authorized bottler Coca-Cola Beverages Africa, announce its intention to grow its investment in Kenya by up to $175 million (KSh23 billion) over the next five years, should the business achieve its anticipated growth targets in the country.
In a Media Release by the Coca-Cola Company, the CEO of Coca-Cola Beverages Africa, Sunil Gupta said, “This investment is aimed at accelerating the Coca-Cola system’s capacity and capability expansion over the next five years. Our decision to invest underscores our belief in the long-term potential of Kenya’s economy.” He added, “We believe in the region's potential and its ability to achieve significant growth through collaboration between public and private sectors.”
Additionally, KEPSA members participated in the Prosper Africa High-Level Presidential Private Sector Business Forum, presided over by H.E. President Ruto alongside Ambassador Meg Whitman and Prosper Africa Coordinator British A. Robinson in Atlanta, GA. The event highlighted the future of catalytic trade and investment opportunities across Kenya. It provided a platform for the private sector to discuss the challenges and successes achieved through the Kenya-U.S. ties.
Some of the challenges highlighted included supply-side constraints such as low productivity, high production costs, poor infrastructure, and lack of adequate financing and skills that limit Kenya and other Sub-Saharan countries from meeting the US market’s demand and standards. Moreover, some US tariffs and rules of origin remain restrictive for certain products like agricultural goods, footwear, and textiles that could otherwise benefit from AGOA. The discussions emphasized the need to ensure development programs like the Prosper Africa Initiative are complemented with AGOA to enhance impact.
They were also able to showcase Kenya’s investment opportunities and export potential. For instance, in September 2023, U.S. and Kenyan companies in the agriculture sector announced $12.8 million in new co-investments through the U.S. government’s Prosper Africa initiative and the U.S. Embassy in Kenya. The co-investments are expected to connect American buyers with Kenyan agribusinesses, creating jobs in Kenya and across the United States and generating nearly $34 million in Kenyan exports. Under this initiative, KEPSA, through its knowledge center, the Sustainable Inclusive Business Kenya (Secretariat to the Kenya Plastics Pact), was mandated to facilitate Kenya’s transition to a circular economy through collaboration across the plastic packaging, private, and informal sectors.
Earlier, KEPSA members joined the President on the Tyler Perry Studios Tour. It offered a call to action to put more effort and resources into helping Kenya’s talented youth monetize their creativity and contribute to the growth of Kenya’s economy. On the sidelines, the private sector engaged in the B2B conversations on the tea/coffee sector, including packing at source; unique flavors of Kenyan teas and coffee, opportunities for contract packing, and common user facilities, in commemoration of the World Tea Day.