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The first European Union-Kenya Business Forum, which brought together more than 500 business executives, politicians, experts, diplomats etc. concluded recently in the Kenyan capital, Nairobi.
The first European Union-Kenya Business Forum, which brought together more than 500 business executives, politicians, experts, diplomats, etc. concluded recently in the Kenyan capital, Nairobi. Kenya’s president, William Ruto, participated in the signing of an EU funding package for TradeMark Africa. The program is aimed to facilitate a five-year programme to boost Kenya’s exports and support the government in creating a positive business environment.
The funding package is worth US$27 million bringing together both the public and private sectors of Kenya. It also envisages the active involvement of the European financing institutions with the overall aim of achieving sustainable growth of exports, including transport and logistics.
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The European Union is the largest destination for Kenya’s exports, accounting for US$1.3 billion worth of products in 2021. Presently, Kenya, like other African countries, is going through a difficult economic phase. Current President William Ruto is committed to addressing the legacy problems. The country is also looking at multilateral funding agencies for more resources to bridge the deficit in its development needs.
