Kenya engages high gear in global conference plans

The Global Entrepreneurship Summit (GES) beginning in two weeks is set to transform Kenya’s business landscape and open a new chapter on how the country will engage investors going forward.

The event brings together more than 3,000 participants from across the world.

The organisers say the GES, which Kenya is co-hosting with the US government, will bring in 1,200 people from all over the world with 175 Kenyans going into the main site. The proceedings will also be streamed live through the media to enable as many people as possible to participate in the three-day summit.

There will be a two-day open expo with more than 200 exhibitors, who will set off the event at the Kenya International Convention Centre (KICC). The main date for GES still remains unspecified for security reasons but it is likely to be on Friday, Saturday or Sunday.

US President Barack Obama will be participating for the third time in the event which has been held five times. Mr Obama has been sending representatives.

MEMORABLE TRANSFORMATION

The Senior Advisor to the Presidency on International relations Ruth Kagia, who is playing a key role in organising the event, said the conference is expected to yield “memorable transformations” on how Kenya will approach entrepreneurship going forward.

“Our ties with the US run very deep and this event not only affirms our historical ties with the US but will see an addition to our existing business ties. I can tell you for sure that new business partnerships will be announced during the three days” Ms Kagia told Smart Company.

“We also have a strong emotional attachment with President Obama so Kenya has both business, emotional and strategic diplomatic attachment to it.”

Kenya hopes to use the event to showcase its attractiveness to investors and help revive tourism, which has been in the doldrums for a long period.

Nairobi will experience a busy weekend from Friday, July 24 to Sunday 26 as the visitors attend the conference and sample the various investment opportunities in the city and in the whole country.

Ms Kagia said preparations are complete but final touches are being made in collaboration with US officials.

“We are well prepared in all the logistical areas, including hotel spaces and transport. Our vision is to ensure they have a safe, secure and memorable visit to Kenya. We want to use the opportunity to create several ambassadors who will market Kenya to several others in the world,” said the former World Bank director.

On Friday, the event which is aimed at creating a lasting bridge between Kenyan entrepreneurs and the investors, will see the participants focus on women and youth. Saturday will be the formal opening with topics related to intellectual capital protection. This is meant to help innovators legally own their ideas and get financing.

One of the topics that is certain to excite small business people is one titled David and Goliath, which helps entrepreneurs devise tactics to compete in a market dominated by big players.

Entrepreneurs will also have a chance to access a lot of mentorship from other successful players in various industries in what the organisers hope will create the next crop of big business people.

The private sector will be expected to enhance their interactions with budding entrepreneurs with policy-based incentives expected to come out of the forum.

“To me, what will measure the success of this summit is how we will begin to have a new engagement and support structures for an entrepreneur. I am thinking of how start-up entrepreneurs, fresh from the universities trying to do something creative but they do not know how to begin, will have a platform to meet entrepreneurs from other parts of the world and investors where they can pitch their ideas and hopefully grow. And once you release their latent from the bottom, that becomes tomorrow’s big business,” Ms Kagia said.

Morocco, which hosted the event last year, has since established new training programme for entrepreneurs where they constantly pitch their ideas and get guidance and mentorship to turn the ideas into reality.

The US government partnered with car maker Volvo to establish a training academy for entrepreneurs in which 150 people will be trained every year, sparking business growth and job creation.

STATE OF THE ART

US Vice-President Joe Biden, who represented President Obama in both the Turkey and the Morocco summits, promised that the US will partner with Spain to give Sh686 billion to finance a state-of-the-art cold storage facility at the Tanger-Med port in Morocco.

During the summit in the north African country, the US announced Sh98 billion for new private investments over the next three years. This funding targets entrepreneurs worldwide, including social entrepreneurs.

The event, that will put Kenya in global focus as a powerful delegation from the US lands in Nairobi, will be a huge platform for Kenya to shine after several setbacks associated with insecurity and diplomatic row since the post-election chaos of 2007/08.

“This is our day in the sunshine and let us use it positively. We need to show our untapped innovation energy.

When you look back in 2013 when we were losing ties with key allies and two years later, we have moved from the periphery of the global geopolitics to the centre of the focus. We have the entire world heading to Kenya between now and December” Ms Kagia told Smart Company.

“It is an opportunity to rewrite our history and make serious allies in geopolitics, create opportunities and shine our image, we can now start defining Kenya from its strong points.”

Kenya will play host to various global events in the next six months.

Pope Francis, the head of the Roman Catholic Church is expected to visit Kenya in November when he makes his African tour. The same month Nairobi will host the World Trade Organisations summit followed by the Japan International Trade Conference coming early next year.

Nairobians are bracing themselves for inconveniences the event may cause in the city, such as traffic snarl-ups, road closures and tight security procedures. Ms Kaggia however said the inconveniences should not worry Kenyans bearing in mind the immense opportunities the summit will bring.

“It now depends on whether you see the cup half full or half empty. The few inconveniences are worth every moment,” she said.