he Kenya Private Sector Alliance (KEPSA) and The Canada-Africa Chamber of Business have announced a Memorandum of Understanding (MoU) that will seek to speed up Canada-Kenya bilateral investments and opportunities between the two countries.
The first engagement will be a virtual trade mission to Kenya from Canada in May.
The 3-year agreement MoU was signed yesterday during the Second Session of the Binational Commission meeting between the Governments of Kenya and Canada–and is subject to ongoing renewal.
“This MoU will solidify the existing trade relations between Kenya and Canada and establish strong bonds between the two countries that will go a long way to boost private sector trade and investment,” explained Ms. Carole Kariuki Karuga, KEPSA CEO.
Added she; “The MOU will also enable us to exchange business information with CACB that is critical especially to our members who wish to expand their coverage to international market.”
The Kenya Private Sector Alliance is the apex body of the private sector in Kenya. The Canada-Africa Chamber of Business is a 27-year-old organization committed to speeding up trade and investment between Canada and Africa.
‘Nairobi is a vital gateway not just to Kenya and the region, but the continent’s economies of the future in Africa,’ noted Garreth Bloor, President of The Canada-Africa Chamber of Business.
‘KEPSA is a world leader in the private sector, showcasing excellence on the global stage. This MoU is a great honour for The Canada-Africa Chamber of Business, our leadership, and all our members across Canada,’ says Deepak Dave, the organization’s long-standing representative in Nairobi and Chief Risk Officer at the African Trade Insurance Agency.
‘The joint intended results of the co-operation agreement between CACB and KEPSA seeks to increase two-way trade and investment between Canada and Kenya in all sectors – while laying the foundations to explore trade missions to Kenya by The Canada-Africa Chamber of Business and to Canada by KEPSA,’ said Sebastian Spio-Garbrah, Chair of The Canada-Africa Chamber of Business.
Guided by this MOU, CACB and KEPSA will work together towards on a case-by-case basis exploring events together, exchange of business information and reciprocity members of the Kenya Private Sector Alliance to enjoy the privileges of membership afforded to CACB members, and to ensure KEPSA members are well-positioned in the Canadian market for investment and trade in all sectors and that CACB members are well-positioned in the Kenyan market for investment and trade in all sectors.
“As KEPSA, we remain committed to establishing progressive business partnerships with Canada and other similar minded parties for the mutual benefit of our members and those of our CACB counterparts,” Ms. Kariuki said.