Calls for more partnerships between Kenyan and American SMEs

NAIROBI- President Uhuru Kenyatta has said more partnerships between Kenyan and American Small and Medium Enterprises (SMEs) will help unlock the huge trade potential that exists between the two nations.

The President invited American SMEs to invest more in the country by en- tering into mutually ben- eficial arrangements with their Kenyan counterparts, adding that the enterprises are the backbone of Kenya’s vibrant economy.

“This is where the real opportunity lies. This is not to say that we are telling the big boys not to come in, they are already here. The big cor- porates are already here.

“But they don’t have the capacity to propel inclusive growth as the small and me- dium enterprises that have a much greater capacity of af- fecting lives and changing the livelihoods at the grassroots level,” President Kenyatta said.

Kenya spoke on Tuesday evening during a virtual US Chamber of Commerce Global Leaders’ Forum on Economic Recovery.

Uhuru said Kenya is keen on concluding negotiations for the free trade agreement with the US and underscored the importance of the private sector in Kenya’s economic growth and job creation.

He invited American en- terprises to set shop in Kenya saying the country provides a ready market for US products, and has an expanding econo- my supported by an innova- tive and highly skilled young labour force that is ready to absorb American investments and technology.

“I believe this is a mutual- ly beneficial relationship that offers investment opportu- nities with great returns for American companies while at the same time offering job opportunities to Kenyans,” the President said.

Kenyatta also spoke about the African Continental Free Trade Area, saying the multi- lateral trade arrangement had consolidated Africa’s market of over one billion people into one basket making the conti- nent an attractive investment destination for American busi- nesses.

– THE STANDARD, Kenya.