NAIROBI, Kenya- Kenya and the United Kingdom are gearing up to boost bilateral trade with the first-ever UK-Kenya Investment Forum, scheduled for early October.
The three-day event will bring together key government officials and private sector players from both nations, aiming to explore fresh trade and investment opportunities to enhance economic ties.
The UK-Kenya Investment Forum, which will take place from October 1-3, 2024, seeks to address the trade potential between the two nations.
According to the Kenya Business Alliance, there are 37,000 business professionals in the UK with links to Kenya, along with a robust diaspora community of 500,000 Kenyans living in the UK.
In the year leading up to March 2024, trade between the two countries reached Sh237 billion (£1.4 billion), according to the UK Department of Business and Trade.
However, there have been minor setbacks. UK exports to Kenya declined by 3.3pc, totaling Sh110.5 billion, while Kenyan exports to the UK—its 78th largest trading partner—dropped by 2.3pc to Sh128.4 billion.
The forum aims to reverse this downward trend by opening new channels for cooperation and increasing the volume of goods and services exchanged between the two countries.
At the heart of the forum will be discussions on foreign policy related to trade and investment, alongside an exploration of entrepreneurship opportunities.
With sectors like healthcare, real estate, manufacturing, and technology expected to be key areas of interest, the event is poised to attract investors eager to tap into Kenya’s growing economy.
Additionally, the forum will explore prospects in education, tourism, finance, and import-export ventures, creating a broad spectrum of investment possibilities.
As Kenya continues to emerge as a regional hub for innovation and trade, the forum represents a critical moment for businesses from both countries to align their interests and forge long-term partnerships.
The UK-Kenya Investment Forum marks an important step in solidifying the trade relationship between the two countries.
With a focus on key growth industries, both nations stand to benefit from this opportunity to deepen their economic engagement.
As the event approaches, the anticipation is growing among business leaders and investors eager to see what partnerships and agreements will emerge from the discussions.
