INVESTMENT:  The third edition of AmCham Business Summit will take place on March 29 and 30 this year in Nairobi, American Chamber of Commerce (AmCham) Kenya has announced.

It is expected to bring together over 500 East African and American delegates with an aim to enhance two-way trade and investment between United States and East Africa region. The forum announcement comes at a time when the government appears to be adopting a protectionist stance in favour of local small-scale traders, a move that has attracted criticism from several quarters. 

On Friday, Trade and Investment Cabinet Secretary Moses Kuria said he had requested Kenyatta University to buy out the lease for China Square, a popular store owned by a Chinese, and hand it over to Gikomba, Nyamakima, Muthurwa and Eastleigh Traders Association.

The government, he said, wants foreigners to come in as manufacturers and not traders.  AmCham Kenya CEO Maxwell Okello said the summit will explore opportunities to promote sustainable and inclusive growth while raising US investment in the region as the region continues to battle high inflation.

Resilient future

“Our vision is that strategic partnerships between governments and key stakeholders in the private sector will be strengthened at the Summit even as we seek new pathways for a resilient future. We look forward to exploring how we can leverage the dynamism in Africa’s economies to fast-track recovery and growth,” he said. The Summit is expected to drive new ideas on re-energising the region’s economy through two-way trade and investment with the United States.

It comes when the United States and Kenya have just concluded first round of talks on the US – Kenya Strategic Trade and Investment Partnership (STIP).