Connect with us

National

Kenya, DRC Governments announce a trade mission to DRC in partnership with Equity Group to boost bilateral trade

Speaking at the launch of the Trade Mission, Cabinet Secretary, Ministry of Trade, Industrialization and Enterprise Development Dr. Betty Maina said, “DRC is the 6th leading export destination for Kenyan products in the world with agricultural and manufactured goods topping the list.

Please Share

Published

on

Cabinet Secretary Ministry of Industrialization,Trade & Enterprise Development Hon.Betty Maina(centre), DRC Embassy in Kenya Representative Second Secretary Botuli Bosaw Geoffrey (left) and Equity Group Managing Director and CEO Dr.James Mwangi during the launch.PHOTO/Courtesy.

The Government of Kenya (GoK) and the Government of the Democratic Republic of the Congo (DRC) in partnership with Equity Group have come together to organize and facilitate a 15-day Trade Mission to DRC from 29th November to 13th December as part of sustained efforts to promote regional trade and business growth.

The Trade Mission, which expects to attract over 200 investors and business participants from Kenya, and a similar number or more from DRC as well as the public, will include trade exhibitions, business forums, and site visits in four of DRC’s largest cities – Kinshasa, Lubumbashi, Goma, and Mbuji Mayi.

This joint initiative is a result of an agreement between H.E. President Uhuru Kenyatta and H.E President Felix Tshisekedi of the Democratic Republic of Congo earlier in April 2021 when the two principals signed bilateral agreements between Kenya and the DRC aimed at enhancing trade and the movement of people and goods.

President Kenyatta noted, “It is a moment of rare regional and continental pride, as we witness our local enterprises coming together in the spirit of “One Africa, One People”. Our forefathers fought to secure not only political freedom, but also economic freedom. The political freedom is secure; economic liberation is the task of our time.”

This comes at a time when DRC’s application to join the East African Community (EAC) has passed the technical committee stage and the Regional Council of Ministers is expected to deliver the final verdict this November.

Equity Group, through Equity Bank Kenya and EquityBCDC, its DRC banking subsidiary, will support to facilitate the trade mission by mobilizing SME entrepreneurs, championing the networking, and matching of local businesses to their counterparts in both the DRC and Kenya, and by coordinating the trade mission.

The mission aims at optimizing the opportunities availed by regional cooperation frameworks such as the Africa Continental Free Trade Area (AfCFTA), and to leverage trade corridors and create regional supply chains.

Speaking at the launch of the Trade Mission, Cabinet Secretary, Ministry of Trade, Industrialization and Enterprise Development Dr. Betty Maina said, “DRC is the 6th leading export destination for Kenyan products in the world with agricultural and manufactured goods topping the list. This Trade Mission will strengthen service and product investment between the two nations, and we are looking to explore more partnership opportunities in various sectors of the economy. It will boost trade and development which in turn translates into an economic win for the region and the greater Sub-Saharan Africa.”

According to the World Bank, with a surface area equivalent to that of Western Europe, DRC is the largest country in Sub-Saharan Africa. The nation is offering huge untapped opportunities for access to one of the world’s largest economic frontiers.

This includes exceptional natural resources, such as cobalt and copper, hydropower potential, significant arable land, immense biodiversity, and the world’s second-largest rainforest.

Also speaking at the launch, Mr. Botuli Bosaw Geoffrey, Second Secretary in the DRC Embassy, Kenya said, “There is significant untapped potential in DRC given that we have a current population of over 100 million potential consumers, mineral resources, fertile agricultural land, and potential for political renewal. By empowering local SMEs and fostering foreign investment in the country, we shall awaken an economic giant and increase trade and investment inflows and outflows. We look forward to hosting the Kenyan delegation and will facilitate and support them during their fifteen day trade mission in our country”

Commenting during the Trade Mission launch, Equity Group Managing Director and CEO Dr. James Mwangi said, “We applaud both the Kenya and DRC governments for promoting regional integration and cooperation. The inaugural Trade Mission to the DRC will encourage Kenyan private sector players to venture into the DRC by showing entrepreneurs the untapped opportunities within the market. Equity Group believes in championing the economic prosperity of the people of Africa and we are excited to create a platform that encourages the networking and benchmarking of business opportunities while at the same time availing market intelligence, key elements that promote the growth and success of enterprises in the East and Central African region in line with Equity’s post COVID Africa resilience and growth plan.”

“We have Kshs 500 billion available to support and facilitate private sector and the business community to grow and expand their businesses in Kenya and the region. Equity has operated in DRC since 2015 and has grown to become the 2nd largest bank in DRC.

We have gained enough experience in the six markets we operate in and the region to support businesses that are looking to venture into DRC and the larger East and Central Africa,” added Dr. Mwangi.

Last week Equity Bank signed with Proparco two guarantee facilities, ARIZ and EURIZ totaling €39 million (5 billion KES) to facilitate the Kenyan bank to further support MSMEs.

The key economic sectors targeted by the Trade Mission are agriculture, education, health, sports, and tourism. Others are environment, SME’s, housing, energy, and infrastructure development. Kenya’s public and private sectors have been urged to register and participate in this opportunity. To register, please visit  http://equitygroupholdings.com/DRCTradeMission  and follow the instructions provided.

Please Share

National

Uhuru Gardens ready for Madaraka Day fete, says PS Kibicho

The principal secretary said they would be visiting the gardens every Thursday until June 1 to ensure all loose ends are tied up properly, promising that the celebrations will be very colourful.

Please Share

Published

on

Madaraka Day

This year’s national Madaraka Day celebrations at Uhuru Gardens in Nairobi County will be open to 30,000 people, up from 10,000 in 2021.

Permanent Secretary in the State Department for Interior, Dr Karanja Kibicho, said this follows the relaxation of COVID-19 containment measures.

“Children will also be allowed in on the celebrations this year, and we expect county celebrations to happen too,” the PS said while on an inspection tour of the venue.

The PS said the government decided to move the celebrations from the County rotational back to Nairobi because it will be the last event for the current administration before it exits office.

“Because of the significance of this particular Madaraka day, being the last for this regime, we decided to celebrate it at Uhuru Gardens to break the tradition of celebrating it in counties,”

He revealed that preparations were currently at 90 percent complete and expressed confidence that all will be set for the event as the country marks 59 years of self rule.

The principal secretary said they would be visiting the gardens every Thursday until June 1 to ensure all loose ends are tied up properly, promising that the celebrations will be very colourful.

Please Share
Continue Reading

National

Queen Elizabeth mourns Kibaki as a great Statesman with commendable legacy

Kibaki will be buried at his home in Othaya, Nyeri County on Saturday.

Please Share

Published

on

Queen Elizabeth II has mourned former President the late Mwai Kibaki eulogizing him as “a great statesman”.

“I was sorry to receive the news of the death of Mwai Kibaki. He had a lifelong record of service to the Kenyan people. It will be of deep sadness to your country to have lost a great statesman, but Kenya can take pride in the legacy of his leadership. I send you and the people of Kenya my condolences at this loss,” the message read.

The British High Commission further affirmed its close ties to Kenya and renewed its assurances to the country’s Ministry of Foreign Affairs.

“The British High Commission avails itself of this opportunity to renew to the Ministry of Foreign Affairs of the Republic of Kenya the assurances of its highest consideration,” the High Commission said.

The late Kibaki passed away on 21 April 2022, aged 90.

President Uhuru, who issued a proclamation that he would be granted a state funeral with full civilian and military honours, announced his death.

Kibaki will be buried at his home in Othaya, Nyeri County on Saturday.

Please Share
Continue Reading

National

Safaricom partners with Zeraki Learning for Digital Learning platform

This digital platform seeks to provide topic-by-topic assessments and powerful metrics to help students diagnose their weaknesses and track their progress.

Please Share

Published

on

Safaricom Technology for Development, Senior Manager,l Benjamin Makai,Zeraki learning Chief Operations officer Erick Oude and Safaricom Product Manager Kennedy Kahura together test the newly launched video learning app on tablet during the launch of the Zeraki learning digital platform at Kenya Institute of Curriculum development.PHOTO/Courtesy.

Safaricom (NSE: SCOM) has partnered with Zeraki Learning to enable secondary school learners access affordable education services from well trained teachers and informative video lessons.

This digital platform seeks to provide topic-by-topic assessments and powerful metrics to help students diagnose their weaknesses and track their progress.

“Our investments in education, both from a solutions and philanthropic perspective, are geared towards addressing current gaps and boost youth employability. Through the partnership with Zeraki Learning we want to ensure that the platform makes digital education accessible and affordable. For parents, Zeraki gives them access to their child’s academic record which they can use to support their decisions”, said Peter Ndegwa, CEO, Safaricom.

Safaricom has added a touchpoint within MySafaricom App which will enable parents and guardians to subscribe for the service for as low as KES 20 a day. The amount can be deducted from customers’ airtime/postpaid bill or via M-PESA

“We are glad to be able to extend our services to Safaricom customers in a bid to make learning accessible to students from all backgrounds. By leveraging on Safaricom’s technology and platform and pairing it with our services, we will provide a solution that we hope will have a positive impact in Kenya,” said Isaac Nyangolo, CEO, Zeraki Learning.

Zeraki analytics offers the latest system of compiling and analyzing students’ data by providing an interface for results analysis, marks entry, and bulk messaging to parents. For the teachers, Zeraki analytics results gives them a new and easy way to analyze and visualize exam results.

The platform is available in the education section of MySafaricom App under the discover tab and on www.safaricom.com/elimu

Please Share
Continue Reading

Trending

Copyright © 2021 Nakuru News