News
Second Kenyan trade and investment summit set to provide Cape business new opportunities
On 1 September 2016, Wesgro, with the Kenyan High Commission, co-hosted the second Kenyan trade and investment summit, in Cape Town, South Africa.
The summit will provide stakeholders from the Cape and Kenya an opportunity to engage ahead of a Wesgro-led delegation visit to Kenya next month (24-28 October) and we encourage all Cape companies who would like to join to contact us.
Under the summit’s theme ‘Pushing Economic Diplomacy to a New Frontier’ a number of panels and bilateral discussions will cover trending topics ranging from tourism and investment, to ICT, energy, manufacturing and agribusiness.
Larger than its inaugural one, this year’s summit is being attended by a high-level delegation featuring Kenyan High Commissioner Jean Kamau, Deputy High Commissioner Lemarron Kaanto, key Kenyan Cabinet Secretaries, the Reserve Bank Governer, the Head of the Kenyan Revenue Authority and South African government officials.
The Summit’s panels will also feature representatives from a number of Cape corporates such as Old Mutual, Woolworths, Distell, Sanlam, Foschini, Truworths and Naspers that have expanded to the East African nation.
South Africa is the 28th largest destination market for Kenya’s exports and the fourth largest source market for Kenyan imports. The Western Cape has had a positive trade balance with Kenya, sending R2.4 billion in exports (more than we did to China) and buying R190 million in imports during the 2013/14 financial year.
In April this year Cape Town Air Access, a division of Wesgro, worked with Kenya Airways to secure a new direct flight from Nairobi to Cape Town – a route that will strengthen trade and tourism relationship between our countries and the rest of the continent.
“Kenya is one of our biggest buyers and I am confident that initiatives like this summit and new route will strengthen our relations and partnerships with the East African nation and present many new opportunities for Cape business,” said Wesgro CEO and one of the summit’s panel moderators Tim Harris at its opening.
