US investors scout for opportunities in Kenya

What you need to know:

  • “Kenya is the hub of innovation in East Africa, we intend to find areas where US companies can partner with local ones ahead of the GES summit, this visit will lead to more engagements with Africa,” said Mr Kumar who works in the US state department of commerce international trade administration.
  • “Kenya has a vibrant business environment, our focus is to develop innovations using data. These innovations must be economically viable and have a ripple effect in the entire East African region,” said IBM Research Africa Vice President Dr Kamal Bhattacharya.
  • US Secretary of Transport Anthony Foxx while at State House on Thursday told President Uhuru Kenyatta that the US is intent on strengthening trade ties with Kenya.

The US government has led over 30 high profile private sector individuals in the country to scout for investment in transport, infrastructure and energy.

Ahead of US President Barack Obama’s visit in July for the Global Entrepreneurship Summit (GES), Mr Arun Kumar, US Assistant Secretary for Global Markets led the team that visited President Uhuru Kenyatta on Thursday and Africa’s first industrial research lab IBM Africa on Friday.

“Kenya is the hub of innovation in East Africa, we intend to find areas where US companies can partner with local ones ahead of the GES summit, this visit will lead to more engagements with Africa,” said Mr Kumar who works in the US state department of commerce international trade administration.

US also relies on IBM Africa to guide them on where to place investments in technology and entrepreneurship. Launched in 2013, IBM has been aggressively working with Nairobi County on how to ease traffic, garbage collection and connect large scale farmers to markets.

INNOVATIONS

“Kenya has a vibrant business environment, our focus is to develop innovations using data. These innovations must be economically viable and have a ripple effect in the entire East African region,” said IBM Research Africa Vice President Dr Kamal Bhattacharya.

US Secretary of Transport Anthony Foxx while at State House on Thursday told President Uhuru Kenyatta that the US is intent on strengthening trade ties with Kenya.

US Assistant Secretary for Global Markets Arun Kumar (left) shakes hands with IBM Research Africa Vice President Dr Kamal Bhattacharya during a visit by a US trade delegation at IBM offices in Catholic University on June 26, 2015. PHOTO | LILIAN OCHIENG’

He added that rail transport, Lamu Port Ethiopia South Sudan Transport Corridor (Lapsset) and the oil and gas sector are of interest to the US government.

“We are very excited about LAPSSET and we want the American package to be considered,” said Mr Foxx.

President Uhuru Kenyatta encouraged the delegation to develop a mass transit system to ease the traffic congestion in Nairobi, which usually has devastating effects on the economy.

The delegation visited Kenya after touring Mozambique and South Africa where they were seeking business opportunities. Kenya and US are both excited of the upcoming GES summit which hosts entrepreneurs and investors across the world annually to showcase innovative projects.