KEPSA, led by the Vice Chairperson Ms Brenda Mbathi, led the Kenya private sector at the African Regional and Global Trade Roundtable that was hosted by the Corporate Council on Africa (CCA) on the sideline of the 78th United Nations General Assembly on 18th September 2023 in New York City. The event was attended by H.E Wamkele Mene - Secretary General, African Continental Free Trade Area Agreement (AfCFTA) Secretariat, Ms Florie Liser - CCA President & CEO among other African and U.S. Government officials and business leaders.

The forum deliberated on various issues including the latest developments in U.S.-Africa trade and investment policy and programs while at the same time discussing broader initiatives to deepen U.S.-Africa trade and investment, including the renewal of the African Growth and Opportunity Act (AGOA). 

H.E Mene provided a thorough review of all facets of the Continental Free Trade Agreement, as well as a status report on the negotiations around rules of origin for textiles and automobiles. He also noted that the Secretariat is working with a number of countries to implement the provisions of AfCFTA on the ground. 

The AfCFTA Secretariat is working with companies to focus on what is needed to increase investment in various areas in infrastructure and manufacturing, including health while at the same time collaborating with banks to help small businesses, in particular, get trade financing.

The roundtable culminated in an MOU signing between CCA and the AfCFTA Secretariat. The MOU aims to foster trade and investment in key sectors and take advantage of greater African regional and global trade resulting from AfCFTA implementation.

It emerged that as African countries move to implement the terms of the AfCFTA, there will be crucial opportunities for companies to work with African governments to maximize the potential of AfCFTA, while also laying the groundwork for stronger U.S.- African trade and investment ties.