American investors on EAC trade mission

December 1, 2014
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Lead by the Corporate Council on Africa (CCA) Chief Executive Officer and President Stephen Hayes, the delegation arrived in Kenya on Sunday as its first stop before it heads to Rwanda on Thursday and later to Uganda/MARGARET WAHITO
Lead by the Corporate Council on Africa (CCA) Chief Executive Officer and President Stephen Hayes, the delegation arrived in Kenya on Sunday as its first stop before it heads to Rwanda on Thursday and later to Uganda/MARGARET WAHITO
NAIROBI, Kenya, Dec 1 – Over 15 delegates representing 10 American companies are on a 10 days tour in the East African region to explore business opportunities.

Lead by the Corporate Council on Africa (CCA) Chief Executive Officer and President Stephen Hayes, the delegation arrived in Kenya on Sunday as its first stop before it heads to Rwanda on Thursday and later to Uganda.

Speaking when the delegation was hosted by the Vision 2030 Delivery Board Secretariat in Nairobi on Monday, Hayes said they were exploring business opportunities in the agribusiness, energy and infrastructure sectors among others.

“We will continue to be a primary partner to Kenya. We think we can make a difference for Kenya and also to the United States. I think it’s enough of talking of what we can do for Africa but what we should do with Africa,” Hayes noted.

The Corporate Council on Africa is an American organization devoted to US-Africa business relations with more than 160 companies, which represent nearly 85 percent of total US private sector investments in Africa.

The mission is expected to provide participants with first-hand market information and access to government decision-makers, and create opportunities for potential business partnerships.

Vision Delivery Board Chairman James Mwangi urged them to tap into Kenya’s rapid urbanisation growth and its immediate needs in infrastructure and energy to enjoy high project returns expected from mega-projects.

“The flagship projects within the scope of Vision 2030 are capital intensive and ripe for financing under a Public Private Partnerships framework, joint ventures or sole ownership,” Mwangi said.

Hayes however called on the private sector in Kenya to engage foreign investors on the business opportunities in the country and these developments being made which may not be well known out there.

He says there is need for a lot of communication especially through physical interaction to tell investors across the world what Kenya has to offer.

“If you are going to do business in Africa, you’re going to have an African partner that is reliable and trustworthy. We have a high regard for KEPSA and Kenya Association of Manufactures (KAM) who have already helped us get reliable partners for some American companies,” he said.

He however said from February next year, the organisation will be placing a senior staffer in Nairobi to help American companies get reliable partners in Kenya.

CCA’s members range from America’s smallest to largest corporations who represent a diverse pool of industries from more than 20 key sectors, including agribusiness, energy, infrastructure, security, power, healthcare, telecommunications and finance.

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