The US delegation led by Deputy US Trade Representative C.J. Mahoney American officials, is in Nairobi for a two-day meeting with government and private sector leaders to explore trade and investment opportunities in Kenya and the region. The Kenyan official and the business delegation will be led by President Uhuru Kenyatta. The summit is held in partnership with the Kenya and US governments as well as the US Chamber of Commerce.
A new report from The Ernst & Young recently reported that US is steadily increasing its investment in Kenya. It reported that US firm’s investments in Kenya, Uganda, Rwanda, Tanzania and Ethiopia — $7.8 billion between 2014 and 2018 was more than Chinese investments of $6.7 billion in the region. However, if inflows into the public sector, largely bilateral loans from China are included, the Chinese share will surpass US. It may be noted that Chinese firms in recent years have taken control of cash-rich infrastructure contracts in Kenya, including various roads and the multi-billion-shilling standard gauge railway (SGR).
The meeting is taking place at a time when other nations, such as UK, Russia, and Japan, are courting Africa. Last month many heads of State from Africa were in Moscow to scout for partnerships. The Amcham Business Summit proves that Washington is equally keen to reassert itself and intensify its engagement with Kenya and Africa. African Growth and Opportunity Act (Agoa), gave duty-free access to the US for a range of exports from sub-Saharan Africa. According to sources, another US export window is being considered to replace the Agoa after it expires in 2025.
