Kenyan firms eye deals at US leaders forum

Kenyan firms plan to use the Leaders Summit which begins in Washington Monday to cut business deals with US firms despite lingering queries over diplomatic relations with the world’s largest economy.

Through their lobby, Kenya Private Sector Alliance (Kepsa), the firms said the US-Africa Leadership Summit which ends on Wednesday will provide a platform to restore commercial relations that suffered in the last one year.

Kepsa chairman Vimal Shah said the private sector hopes to exploit an open policy that has elevated the US to Kenya’s 4th largest trading partner over the years.

“The summit offers growth opportunities for both Kenya and the wider East African Community,” Mr Shah said in Nairobi last week.

President Uhuru Kenyatta and top State bureaucrats will lead Kenya’s team at the gathering, which brings together government officials and businessmen from across Africa.

Kepsa leads businesses leaders from the region who are participating in the forum under the aegis of East African Business Council.

“The private sector delegation and government officials are attending the forum as one team with focus on attracting more investments and trade opportunities for Kenya,” said Mr Shah.

He said the summit provides a unique opportunity for the private sector to develop new business partnerships for value addition under African Growth Opportunity Act (Agoa). The forum, he added, also opens a window for direct marketing of Kenyan products in the US.

READ: America overtakes China in race for Kenyan imports

Kenya has had lukewarm diplomatic relations with the US over crimes against humanity charges facing its top leaders, while the recent travel advisories have hurt tourism.

“Insecurity is a big bump currently in the country, but the government is addressing the matter and we are certain that the issue will be tackled,” said Mr Shah

The team hopes to dangle some of the reforms that the state has implemented in the recent weeks to woo US firms into business deals.

The government has digitised land records and reduced the time taken to register a property from 73 days to 12 days.

The Registrar of Companies has also digitised records, consolidating three procedures – paying stamp duty, stamping of memorandum of articles, and payment of registration fees – reducing the number of days taken to register a company from seven to one.