Egyptian investors interested in the Kenyan manufacturing sector

Posted on : Wednesday, 12th October 2022

According to a government official, the Egyptian business community is eager to invest in Kenya's manufacturing sector to help the east African country's industrialization agenda.

 

Egyptian Ambassador to Kenya Khaled el Abyad stated in Nairobi, Kenya's capital, that bilateral investment and trade partnerships must go beyond traditional agricultural products.

 

"Egyptian companies are exploring opportunities such as joint ventures, technology, and skill transfer programmes with their Kenyan counterparts, particularly in the manufacturing sector," Abyad said at a business bridge forum between Egypt and Kenya.

 

An Egyptian trade delegation of 30 companies is in Kenya for two days of bilateral meetings with Kenyan counterparts. Building materials, iron and steel, cement, glass marble sanitary ware, and chemicals companies are among those represented in the delegation.

 

According to Sylvia Kaburu, Deputy Director of International Trade at Kenya's Ministry of Trade, Investment, and Industry, partnerships with foreign industrialists can help the government develop a competitive manufacturing sector.

 

According to Kaburu, Egypt is Kenya's second most important African import market after South Africa, and the third largest buyer of Kenyan goods after Uganda and Tanzania.