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Innovation, entrepreneurship, and investment on display at East African Business and Entrepreneurship Conference

Published on October 13, 2016

Amb_Kenya_IPA.jpgOn October 12, U.S. Ambassador to Kenya Robert Godec gave a keynote address on entrepreneurship to open the third day of the East African Business and Entrepreneurship Conference and Exhibition in Nairobi, Kenya. Ambassador Godec highlighted the many initiatives and resources that the U.S. Government has committed to support innovation, investment and entrepreneurship in the East Africa region, a prime example being the USAID East Africa Trade and Investment Hub (the Hub). “The Hub helps companies improve their products, access market information, and connect with U.S. buyers,” said Ambassador Godec. 

You can read Ambassador Robert F. Godec remarks here

The Hub also plays a major role in securing investment for the region by offering no cost transaction support services (e.g. opportunity validation, market intelligence, fundraising support, due diligence, deal structuring, or financial analysis) with a goal of facilitating $100 million in new investments and creating 10,000 jobs by August 2019. Target sectors include, ICT, health, agribusiness, financial services, and cotton, textile and apparel.

To augment its transaction support services, the Hub builds the capacity of national investment promotion agencies (IPAs) throughout the East African Community (EAC). The Hub supported five such IPAs to develop bankable projects and showcase them at the East African Business and Entrepreneurship Conference. Ambassador Godec visited each of the IPAs booths and encouraged conference attendees to do the same. The day previous, Kenya Cabinet Secretary Ministry of Labor and EAC Affairs Phyllis Kandie visited the IPA booths and expressed her enthusiasm for the display of bankable projects, exclaiming that this is exactly what we [Kenya and the East Africa region] needs – investment opportunities on display. 

The Hub was a sponsor of the event and its advisors moderated and participated in panels throughout the conference.  

You can read Ambassador Robert F. Godec remarks here