Kenya and Democratic Republic of Congo (DRC) in partnership with Equity Group have launched a trade mission to boost bilateral trade with key focus on agriculture, education, health, sports and tourism.
The trade mission is expected to attract over 200 investors and business participants from Kenya, and a similar number from DRC as well.
Speaking at the launch of the Trade Mission at the Serena Hotel in Nairobi, the Industrialization and Enterprise Development Cabinet Secretary, Betty Maina, mentioned that DRC is the 6th leading export destination for Kenyan products in the world with agricultural and manufactured goods topping the list. She however noted that the Trade Mission will reinforce service and product investment between the two nations.
She added that “It will boost trade and development which in turn translates into an economic win for the region and the greater sub-Saharan Africa.”
The Second Secretary in the DRC Embassy in Kenya, Botuli Bosaw Geoffrey made known that there is a huge undiscovered potential in DRC given that they have a current populace of more than 100 million possible clients, mineral assets, prolific farming area, and potential for political restoration. “By empowering local SMEs and fostering foreign investment in the country, we shall an economic giant and increase trade and investment inflows and outflows. We look forward to hosting the Kenyan delegation and will facilitate and support them during their 15-trade mission in our country,” he added.
The Managing Director of the Equity Group, Dr James Mwangi lauded the initiative by the two governments for promoting regional integration and cooperation.
Dr Mwangi disclosed that “We have Sh500 billion available to support and facilitate private sector and the business community to grow and expand their business in Kenya and the region. Equity has operated in DRC since 2015 and has grown to become the second largest in DRC. We have gained enough experience in the six markets we operate in and the region to support businesses that are looking to venture into DRC and the larger East and Central Africa.”
Equity Bank signed with Proparco two guarantee facilities, ARIZ and EURIZ totaling €39 million (Sh5 billion) to facilitate the Kenyan Bank to further support micro small and medium enterprises.
The public and private sector in the Kenya economy have been urged to register and participate in this opportunity.
The mission is however aimed at optimizing the opportunities availed by regional cooperation frameworks such as the Africa Continental Free Trade Area (AFCFTA) and to leverage trade corridors and make local stock chains.
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