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Economy

Egypt chemical firms eye Kenyan market

Egyptian chemical firms have set their sights on the Kenyan market, following in the footsteps of producers of home care products, equipment, petroleum products, iron and paper that have made inroads into the region.

The firms, which kicked off their sixth trade fair in Nairobi on Tuesday, said removal of regulatory barriers made it easy to conduct excursions across Africa to promote their wares.

Arab Women Investors leader Hoda Galal Yassa called for closer partnerships, saying Kenya must also hold fairs in Egypt and Gulf states, saying available opportunities in Kenya could best be told by local traders participating in such fairs.

“For Africa to trade with itself, its traders must interact, conduct joint ventures and also participate in joint exhibitions conducted annually across Africa. Kenya has a lot to offer, but it must bring its traders to Egypt to showcase their wares and technologies,” she said.

A lot of Egyptian products – ranging from toothpaste to dry cells and building materials – have found a ready market in Kenya and other East African countries due to their low prices. Because of state subsidy, Egyptian firms enjoy the cheaper electricity rates.

Investment and Industry PS Julius Korir said Kenya welcomed Egyptian companies to open subsidiaries.

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