Browsing: AmCham Kenya

AmCham Business Summit 2024

AmCham Summit kicks off, setting course for robust future of US-East Africa trade ties

Africa
  • Meg Whitman, US Ambassador to Kenya, highlights key investment opportunities in Kenya, particularly in the creative industry and clean energy.
  • She noted that Kenya has the potential to become the Singapore of Africa through vertical business integration, job creation, innovation, and foreign direct investment.
  • AmCham Business Summit 2024 seeks to strengthen bilateral trade and investment between the US, Kenya, and East Africa.

The fourth edition of the regional American Chamber of Commerce Kenya (AmCham) Business Summit, has officially kicked off in Nairobi, Kenya, under the theme, ‘Catalyzing The Future of US-East Africa Trade and Investment’.

This year’s forum underscores AmCham Business Summit as the premier platform for strengthening bilateral trade and investment between the United States, Kenya, and East Africa.

Hosted by the American Chamber of Commerce (AmCham), the two-day Summit has brought together delegates from the United States of America, East and Sub-Saharan Africa in efforts to deliberate and …

IMF, International Monetary Fund

US, Tanzania forging investment partnerships worth billions

Industry and Trade

The EABC noted that foreign direct investments from the US. to Tanzania stood at US$1.5 billion in 2019, a 5.2 per cent increase from 2018. Tanzania is followed by Kenya – which received US$353 million in the same year – followed by Uganda US$42 million, Rwanda (US$11 million) and Burundi, which managed to attract US$1 million in the same year (2019).

Tanzania has managed to secure the US. as a development partner and as a viable investment in potential sectors such as mining and agriculture. President Samia has worked to give the investment landscape 180 shifts, particularly enhancing the domestic and international confidence in Tanzania’s business climate.

Over the past years, agricultural produce, minerals and textiles have covered most of the goods exported to the US. However, there are other avenues of potential investment in Tanzania, especially in oil and gas, real estate, manufacturing and telecommunications.…

Kenya’s agricultural players wary of trade deal with the US

Kenya’s agricultural players wary of trade deal with the US

Agribusiness

In February 2020, just weeks after Kenya and the US had commenced talks to set up a trade deal, another announcement was being made. The US Department of Agriculture announced that Kenya will start receiving wheat from Idaho, Oregon, and Washington State after the states addressed plant health concerns.

The announcement ensured that a trade barrier that existed prohibiting US wheat exports was lifted. It allowed US wheat growers in the Pacific Northwest access to Kenya’s wheat market for the first time in over a decade after the US-Kenya Trade and Investment Working Group adopted a phytosanitary protocol.

Kenya’s domestic wheat production only meets around 10 percent of its annual demand. According to KNBS, Kenyans consume an estimated one million tonnes of wheat annually hence the country faces a deficit of more than 750,000 tonnes.

The country sources much of its wheat import volume from nearby suppliers—Tanzania, South Africa, Russia,

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