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Kenya to host Africa-France business summit

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Wednesday, 13 September 2017

Kenya to host Africa-France business summit

Kenya is set to host the second edition of Africa-France Summit next month that is expected to bring over 200 French companies in the country for investment opportunities. The business meet set for October 5 and 6 is projected to bring together over 2500 investors from Kenya, France and other African countries. Dubbed ‘The Encounters Africa 2017’, the event is already attracting strong interest from French companies, as well as from Francophone countries. Event Coordinator Annemijn Perrin says they expect to connect businesses with the aim of closing deals at the summit. “Most companies are coming here to find partners to work together with Kenyan companies, either to set up in these countries, or to find a partnership to develop their business. Over 100 French companies have already signed up to come, dealing with agriculture, manufacturing, energy, education among others,” Perrin told Capital FM Business. The first edition was launched in 2016 in Paris, bringing together 2700 decision makers from 30 countries. Bilateral trade between Kenya and France remains heavily skewed in favour of France as it’s the is the third largest source market for Kenya’s imports in Western Europe, and the sixth largest market for Kenya’s exports in the bloc. Official data shows that Kenya’s exports to France grew 12 per cent to Sh5.6 billion between 2010 and 2014, while imports rose 20.4 per cent to Sh22.4 billion in the same period. Business France opened its office in Nairobi in 2013 to assist French firms interested in investing in Kenya and neighboring East African nations. Over 70 firms have invested in the country.

Source: www.capitalfm.co.ke