Investors from the U.S. want a bigger share of Kenya's market

Posted on : Wednesday , 9th March 2022

As key officials and corporate delegations arrive in Nairobi, US President Joe Biden's government and American corporations are set to announce new investments in Kenya in sectors such as energy, health, and agri-business.

According to a brief published by the US government before of the visit, US deputy assistant secretary of State Akunna Cook and Prosper Africa acting chief operating officer Leslie Marbury will go to Kenya on an economic diplomacy mission with Nigeria, South Africa, and Namibia.

According to the US State Department, "the delegation will meet with entrepreneurs, women-owned and small and medium-sized businesses, investors, and policymakers to drive US trade and investment in Africa's creative industries, ICT and digital technologies, energy and infrastructure, and other fast-growing sectors."

The US officials' visit is part of President Biden's new campaign to strengthen business connections between the US and African countries such as Kenya.

The programme is part of the Biden administration's efforts to revitalise Prosper Africa, which was launched by former US President Donald Trump in 2018 and aspires to become the "centrepiece of US economic and commercial engagement with Africa."

On the visit, the US government stated, "The delegation will advance this goal by connecting businesses and investors with Prosper Africa tools and resources to reduce trade and investment barriers, accelerate transactions, and promote market opportunities."