KNCCI: Kenya to Unlock Sh133.41 billion in New Investment Opportunities
The Ministry of Trade has dispatched Commercial Attaches to various countries across the world to seek investment opportunities that the state can tap into.
Through a collaboration with the Kenya National Chamber of Commerce and Industry (KNCCI) the chamber president Richard Ngatia said that the trade officers will visit Ethiopia, Uganda, Egypt, South Korea, Pakistan, Indonesia and Brazil.
In Uganda Kenya will be eyeing $364 Million (Sh43.91 billion) increase in trade volume.
This will be through finalization of deals on Salt; sulphur; earths at $126M (Sh 15.2 billion) Animal or vegetable fats and oils $108M (Sh13 billion) Iron and steel $72M Machinery, mechanical appliances ($58M) Cement.
“Commercial attachés are the engines to the success of international trade and development for any country,” said KNCCI President Richard Ngatia.
In Ethiopia Kenya will be looking to supply plastics and articles estimated to have a shortfall of Sh723 million ($6M), Live animals Sh687 million ($5.7M) Soap, organic surface-active agents Sh482 million ($4M).
Opportunities Kenya will be looking to harness in Egypt are Coffee, tea, maté and spices Sh21.11 billion ($175M) Paper and paperboard Sh965 million ($8M) Edible fruit and nuts Sh928 million ($7.7M) Tobacco and manufactured tobacco substitutes Sh241 ($2M) alongside Opportunities in Avocado Meat and Macadamia Nuts.
In South Korea, Kenya is looking to Increase Coffee, tea, mate, spices and Macademia Nuts by Sh2.7 billion ($22M) and Pakistan the trade opportunities are estimated at Sh61.67 billion ($511.3million).
Those tasked with the mandate are Tobias J.O Ongany-Cairo,Egypt, Musa Okwemba-Seoul, South Korea, Stanley Mwangi-Addis Ababa, Ethiopia, Boniface Njuguna-Islamabad, Pakistan, Maurine Abungu -Jakarta,Indonesia, Doris Komen-Kampala,Uganda, Beatrice Kinyua-Brassilia ,Brazil
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