Nairobi, 18 March 2024 – President William Ruto of Kenya is poised to lead a high-profile government delegation to the fourth American Chamber of Commerce Kenya (AmCham) Business Summit scheduled for April 24–25, 2024, in Nairobi. The Summit, known for its pivotal role in fostering US-East Africa trade relations, is expected to attract nearly 1,000 delegates, including prominent business leaders and government officials from both regions.
This year’s event, under the theme of promoting sustainable and inclusive growth, aims to bolster investment and commercial opportunities in Kenya and across East Africa. AmCham’s Board President, Peter Ngahu, emphasized the Summit’s significance as a platform for exploring bilateral trade and investment potentials that benefit both regions. “The AmCham Business Summit stands as a testament to our enduring partnership and mutual interests with the United States. We are committed to harnessing these opportunities to fuel investments in East Africa,” Ngahu stated.
Maxwell Okello, CEO of AmCham, encouraged participation, highlighting the Summit as a unique opportunity to discuss the future of trade and investment, technology advancements, sustainable practices, healthcare innovations, and economic growth strategies beneficial to both the US and East Africa.
The Summit will feature an array of discussions on pivotal subjects including climate action, digital transformation, and sustainable finance, aimed at addressing the region’s economic development challenges. Despite facing hurdles such as illicit trade and inflation, East African economies are projected to lead in growth across the continent, with a forecast exceeding 5 percent, according to the African Development Bank’s East Africa Economic Outlook.
The event marks a crucial step towards deepening the trade relationship between the United States and Kenya, currently engaged in negotiating the Strategic Trade and Investment Partnership. This bilateral agreement, a first of its kind between the US and a sub-Saharan African nation, symbolizes the growing importance of Kenya as a trade partner, having exported goods worth approximately $890 million to the US in 2022.
As the AmCham Business Summit approaches, stakeholders from both regions anticipate setting a new precedent for cooperation, aiming to navigate the complexities of international trade and investment for mutual prosperity.