Kenya’s President, William Ruto, will this week lead a delegation from Kenya to the United States for the second US-Kenya Business Roadshow. The delegation, which will focus on attracting venture capital (VC) investment into the country’s tech industry, includes US Ambassador to Kenya, Meg Whitman. The roadshow is taking place in Chicago and San Francisco this week.
In Chicago, the focus of the roadshow is to explore potential agricultural opportunities between Kenya and the US. It will also be an opportunity for Venture Capital and Private Equity Firms to scout for investment opportunities in Kenya.
Later this week, President Ruto will be in San Francisco, also known as Silicon Valley, to pitch to more than 200 investors interested in investing in Kenya’s tech industry. Accompanying the President will be several tech companies from Kenya.
“We aim to combine the opportunities in Silicon Valley with those in Silicon Savanna, right here in Kenya. We believe there’s a lot we can learn from Silicon Valley, just as we have much to offer them, especially in the opportunities that exist not only in Kenya but also across the African continent,” said President Ruto during the Kauffman Fellows Africa VC summit in Nairobi. This summit gathers over 300 top venture capitalists from around the world, representing over $1 trillion in assets under management, and is being supported by The Kenyan Wall Street as the official media partner.
This second roadshow follows the success of the first-ever U.S.-Kenya Business Roadshow, which took place in New York City on April 25th. During this event, Ambassador Whitman announced six new co-investments totaling $55 million with Kenyan and American apparel companies.