The Hub's accomplishments in Kenya to Date:
- To date the Hub has supported 294 firms and associations to increase their export competitiveness
- 81 firms have been supported to participate in various trade shows resulting in 615 business linkages
- Hub facilitated AGOA exports as at June 30 2017 stood at $125,817,038
- Exports to other market destinations as a result of Hub support are $86,180
- 3,464 new full time equivalent (FTE) jobs have been created, 73% of which are for women
- Facilitated $30,633,968 new private sector investments in the ag and non ag sector
- Supported successful ratification of the SPS Protocol
- Advocated for the review of the Companies Act to conform with the provisions of the EAC Common Market Protocol
- Supported successful implementation of ePing electronic alert system
- Supported the adoption of a notification submission systems for technical barriers to trade (TBT) sanitary and phytosanitary measures (SPS)
- Supported use of ISOlutions which allows Kenya to effectively participate in international standardization process
USAID grant signed to create 2,000 new jobs for youth in the apparel industry
Signed a new grant with Generation Program Kenya Limited, a local subsidiary of the McKinsey Social Initiative. Working hand-in-hand with Kenya’s Ministry of Industry, Trade and Cooperatives, the Kenya Association of Manufacturers and apparel companies, the program will set up and equip seven training centers throughout Kenya, provide over 100,000 hours in skills development and train 2,000 Kenyan youth, preparing them for full-time sewing machine operator jobs in the industry. The grant is a part of the Hub’s larger “East Africa Cotton, Textile and Apparel Workforce Development Initiative,” a collaboration between the Hub and the American Apparel and Footwear Association that will ensure U.S. brands and retailers’ goods are manufactured in accordance with best business practices and operations in East Africa, producing a win-win for trading partners.
Kenyan woman-owned home-décor company enters mainstream U.S. market
Supported a Kenyan home decor producer to ship her largest-to-date U.S. order. Valued at $200,000, the deal is as a result of the Hub-organized Cost Plus World Market Trade Mission. (see success story at the end of this report) The profit from this order will go to the nearly 400 artisans who contributed to each hand-carved piece and will help finance her next big export to the U.S., which shouldn’t be far off given her now proven capacity for high-volume supply.
Read more here
The Hub supports increased investments in the upcoming Kenya Leather Park
On June 30, the Hub’s leather advisor completed his contract, during which he facilitated $9 million in total investment commitments for the upcoming Kenya Leather Park and a trade deal between Bata Shoes Kenya, Kenya Defense Forces and the Kenya Prisons Services to supply a total of $1.9 million in new sales of officer’s boots and shoes. Also in the leather sector, the Hub supported an India-based ‘trainer of trainers’ session that provided new eco-friendly technologies for best practices in leather finishing and production for five Kenyan tanneries and leather companies.
The Hub facilitates $36M new private sector investments
The Hub has facilitated $30,633,968 new private sector investments in the ag and non ag sector in Kenya. The Hub offers transaction support services. Eligible investors include private equity funds, commercial banks, impact funds, and development finance institutions. The Hub’s transaction team acts as a neutral intermediary to provide: opportunity validation market intelligence, fundraising support, due diligence, deal structuring, financial analysis and modelling.
The Hub has helped financially close $51m of investments over the life of the project, $33.9 million in the agricultural and food chain sector and $17.4 million in the non-ag sector. There are $165 million of deals under review in the Hub’s investment pipeline. Over
Product development excellence training for SMEs
Facilitated training on product development excellence for selected SMEs in the sector, in collaboration with Kenya Leather Development Council (KLDC). The training covered a wide range of topics in product development, including: product development planning, product development process, managing cross-functional teams and how to generate superior value products.
Helped leather enterprises develop innovative products that can compete globally, with a focus on company owners and senior management – those who can implement the concepts on which they were trained.
Trade and export facilitation through “Buy Kenya Build Kenya” strategy
Facilitated Kenya’s leading player in the formal footwear sector and the largest buyer of raw leather, Bata Kenya, to access opportunities for supplying Kenya Defense Forces with military boots and shoes.
Linked Bata Kenya to SMEs who have since started sourcing specialized finished leather for manufacture of leather goods, resulting in approximately $1.9 million in new sales.
Introduced MAS Tannery, a company established in 2004 that specializes in tanning (wet blue), to new markets in Turkey, India and Egypt. This allowed the company to increase exports to new clients by approximately $500,000 per month.
Investor mobilization for the Kenya Leather Park
Supported Kenya’s Ministry of Agriculture to purchase 50,000 MT of maize from Ethiopia for the Kenyan Strategic Grain Reserve, bringing the total maize trade facilitated by the Hub between Ethiopia and the East African region to $100 million in the current season.
Related Blogs and Resources
Published on April 29, 2015
Devolution Cabinet Secretary Anne Waiguru will on Wednesday launch the 2015 report on the state of the Kenyan economy.
The 2015 Economic Survey report will reveal whether the Kenyan economy has been performing well or declining and indicate which areas of the economy require adjustment and radical reforms.
The report, to be launched at the Kenyatta International Convention Centre, will also show whether areas marked for improvement last year have recorded any significant changes.
Last year, the wholesale and retail sector were identified as the main drivers of the economy, followed by the financial intermediation sector such as the banking industry, while the agricultural sector was the least productive.
The communication sector also recorded significant growth in value as the number of mobile connections rose from 30.4 million in 2012 to 31.2 million in 2013. Read more. Source | Daily Nation
Published on April 28, 2015
U.S. Secretary of State John Kerry will travel to Sri Lanka on Saturday to meet with its new president, Maithripala Sirisena, the State Department said, following years of strained relations between Washington and the country's previous government.
During his visit, Kerry will laud the country for a "successful" election and smooth transition. He will also likely underscore longstanding U.S. human rights concerns, especially war crimes committed under the Rajapaksa regime during the country's civil war between 1983 and 2009, according to U.S. officials.
After Sri Lanka, Kerry heads to Africa to meet with government officials and business leaders in Kenya. He will also focus on security cooperation in the face of rising threats from Somali Islamists, U.S. officials said. Read more. Source | Voice of America
Published on April 28, 2015
Tata Africa Holdings has opened a new dealership in Nakuru that will exclusively sell agricultural equipment manufactured by Chicago-based firm John Deere.
Tata Kenya, a subsidiary of India’s Tata International, says the new dealership is targeting farmers in the South Rift region —a significant contributor to the country’s food basket.
Demand for agricultural equipment like tractors is mainly driven by farmers, the private sector, national and county government.
“The roll-out will see the introduction of a new business centre in an area that has substantial agricultural activities where agricultural machines are used to facilitate and improve efficiency in food production through mechanisation,” said Tata in a statement. Read more. Source | Business Daily
Published on April 27, 2015
Former United States President Bill Clinton will visit Kenya next week for a tour of projects funded by the Clinton Foundation and the Clinton Global Initiative.
The 41st American President will be accompanied by his daughter Chelsea Clinton.
The two Foundations have a large presence in Africa and largely focus on empowering women as well as promote economic growth and health access to various communities in the continent
The Clintons are expected to jet into the country on April 30 after a two day visit to Tanzania.
They are expected to depart on May and will conclude their African tour in Morocco where they will attend the Clinton Global Initiative Middle East and Africa Meeting (CGI MEA). They are also expected to visit Liberia. Read more. Source | Standard Digital
Published on April 27, 2015
Kenya is set to open five new consulates across the US in the latest show of improving diplomatic and trade relations between the two countries.Foreign Affairs secretary Amina Mohammed says the government will open consulates in Dallas, Boston, Minneapolis, Chicago and Seattle to serve the diaspora including facilitating voting in general elections. Read more. Source | Business Daily
Published on April 24, 2015
President Uhuru Kenyatta left the country Thursday night for Los Angeles in the United States for the annual Milken Institute Global Conference.
The conference brings together political and business leaders to exchange ideas in a bid to overcome some of the world’s toughest challenges.
The President will address the Milken Institute Corporate and Investor Roundtable on April 27.
He will also address the conference later in the evening from 5pm to 6pm.
This session of the conference is private and will be off the record. During the session, senior government officials, representatives of leading corporations and investors will discuss topics, trends and strategies related to increasing investment in developing markets.
Read more. Source | Daily Nation
Published on April 23, 2015
Attention investors the world over. Disillusioned with the Republic of South Africa regarding your fear for your foreign workforce? Disturbed by slow political responses to citizens’ issues? Might you examine a noble proposition: invest in Kenya.
Relocating to a new country fills someone with the excitement of new possibilities as well as fears of acceptance, bureaucracy, and safety.
A lovely diverse country with a resilient people, South Africa earns more from its business interests abroad than from foreign businesses repatriating funds.
However, large swaths of citizens still blame foreigners instead of thanking them. While various perplexing paradoxes exist in every nation, Kenya does not juxtapose its citizens against foreigners. Read more. Source | Business Daily
Published on April 23, 2015
This is after a European Union member states' meeting in Brussels early this week gave exported beans with pods a clean of bill of health after being satisfied with the progress the Government and farmers have made in efforts to tame produce with Maximum Residue Limits (MRLs). The news is a relief to thousands of farmers who have been facing challenges in exporting to the EU market as their produce would sometimes be rejected at the points of entry. Read more. Source | Standard Digital