The Kenya National Chamber of Commerce and Industry has started talks to revive a framework for strengthening bilateral trade and investment cooperation with Egypt, largely in financial technology and processing of farm produce.
The chamber’s president Richard Ngatia says stronger trade cooperation and investment relationship between business communities in Kenya and Egypt will enhance their standing as respective gateways to East and North Africa.
KNCCI on Wednesday signed a memorandum of understanding (MoU) with Federation of Egyptian Chambers of Commerce and the Cairo Chamber of Commerce aimed at promoting investments in targeted sectors.
These include opportunities in financial technology such as M-Pesa, agro-processing of farm produce such as coffee, fruits, fish and meat as construction of power generation plants, according to the KNCCI.
“A Memorandum of Understanding was signed in 2014 for six years which we need to renew the agreement and continue promoting economic growth and development between our countries,” said Mr Ngatia said.
“We need to revive the Joint Business Council and submit inputs in preparation to the Joint Technical Committee in 8th and 9th September 2021 in Nairobi.”