The Kenya National Chamber of Commerce (KNCCI) has signed a Memorandum of Understanding (MoU) with South Carolina African American Chamber of Commerce (SCAACC) to expand trade, investment and economic cooperation between Kenya and the United States.
In the agreement, the two chambers of commerce will collaborate in exhibitions and trade fairs, to facilitate Kenyan enterprises in U.S trade fairs. It will enable business information exchange including sharing up-to-date market intelligence, commercial legislation updates and trade opportunities to ease market entry for businesses.
Additionally, it will promote technological exchanges, innovation partnership and foster direct business linkages.
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KNCCI Chairman Simon Nyagah said the partnership will strengthen Kenya-US business relations and open the U.S. market for Kenyan enterprises and expand investment opportunities.
“This partnership opens new doors for our members to tap into the U.S. market, expand investment opportunities, and foster knowledge exchange. It is a bold step by both organizations in strengthening Kenya–U.S. business relations, particularly with the African American business community that shares deep historic and cultural ties with Africa,” Nyagah said.
On his part SCAAC Chairman Stephen Gilchrist said the collaboration will “empower businesses” in both U.S and Kenya to “grow, innovate and prosper’ in the world’s interconnected economy.
Benefits to Kenyan businesses
The partnership will enable Kenya’s SMEs to access South Carolina markets, attract investors to Kenya’s key sectors including agribusiness, manufacturing, ICT, renewable energy and tourism. It will also facilitate skill exchange, strengthen ties with African American business communities and support Kenya’s plans to expand its exports and creation of employment via private sector growth.
