U.S.-Kenya business forum sparks Ksh.260.8B commitment for economic growth

In a bid to bolster economic growth and investment opportunities, the U.S. Chamber of Commerce's U.S.-Africa Business Centre on Friday played host to the U.S.-Kenya Business Forum.

The event, which featured key figures such as President William Ruto, U.S. Vice President Kamala Harris, U.S. Secretary of Commerce Gina Raimondo, and U.S. Chamber President and CEO Suzanne P. Clark, aimed to stimulate dialogue and collaboration between the two nations.

President Ruto set the tone for the forum, extending a warm invitation to potential investors, emphasizing Kenya's readiness to partner with American companies to realize mutual benefits.

“Kenya works and we mean business. When it comes to investment, we are ready for you. Let's bring your vision to reality. And let us build Kenya together with your companies," said President Ruto.

The forum facilitated discussions on strengthening the economic relationship between the U.S. and Kenya, resulting in over $2 billion (approx. Ksh.260.8 billion) in new and expanded commitments from both governments, businesses, and investors, marking a significant milestone in bilateral cooperation.

Taking place during President Ruto’s State Visit to Washington, D.C., the event attracted a notable lineup of attendees, including U.S. Senator Chris Coons and U.S. Ambassador to Kenya Meg Whitman, alongside leaders from various sectors in both countries.

U.S. Vice President Harris underscored the importance of reimagining the narrative of U.S.-Africa relations, highlighting Africa's youthful demographic and its potential as a global economic hub.

“I strongly believe that we are at a moment where we should revisit and upgrade and update the narrative of the relationship between the United States and the continent of Africa," she said.

“When you think about the continent, the median age is 19 years old. It is predicted that by 2050, 1 in four people occupying space on Mother Earth will be on the continent of Africa. So, from that perspective, many could rightly argue that the future is on the continent of Africa.” 

President Ruto was also honoured with the U.S.-Africa Business Center Outstanding Leaders’ Award for his efforts in advancing business-led solutions and promoting trade and investment.