SA Targets Greater Kenya Trade, Investment

Posted on : Monday , 21st November 2022

South Africa plans to prioritize its economic relationship with Kenya to boost trade and investment, Trade, Industry and Competition Minister Ebrahim Patel said.

Trade between the 2 countries last year was only R6.5 billion, which was “not sufficient,” Patel said at a business forum in the Kenyan capital, Nairobi, on 2nd November.

He spoke after South African President Cyril Ramaphosa and his Kenyan counterpart, William Ruto, held talks about increased cooperation, including allowing visa-free travel by Kenyans to South Africa from January 1 2022.

Kenyan Trade and investment Secretary Moses Kuria urged South African companies to invest in private-public partnerships and the East African nation’s special economic zones.

He also invited South African banks and telecommunications companies to participate in the Nairobi International Finance Centre and urged construction companies to take advantage of housing construction opportunities in his country.