A delegation of Japanese investors is on a three-day tour to familiarize with business opportunities and potential in Kenya.
The Kenya – Japan Business Forum, organized by Kenya Association of Manufacturers (KAM), brings Japanese investors who will be looking to make partnerships with Kenyan manufacturers.
Kenya, being a member of East African Community (EAC) and COMESA, presents a huge market for Japanese products. Besides, Kenya has stable macroeconomic environment and maturity of industries.
The delegation comprises 90 representatives and 40 companies, set to visit industries within Nairobi to witness state of Kenyan firms.
Japan seeks to partner with Kenya in the following sectors:
- Food and Beverage
- Paper and Board
- Energy and Electricals
- Building and Construction
Moreover, Japanese businesses are changing tact when engaging with businesses in Africa. The Japanese Business Council for Africa (JBCA) Representative, Mr Yokoi Yasuhiko, said the focus is on African private sector.
However, the Japanese delegation lamented of poor infrastructure, skills mismatch, and slow implementation processes as hindrances to business growth.
Furthermore, Yokoi urged manufacturers to take advantage of foreign investors’ interest in Kenya and create global partnerships.
KAM promotes trade and investment, upholds standards, encourages the formulation, enactment and administration of sound policies that facilitate a competitive business environment and reduce the cost of doing business.