Fourth AmCham Business Summit Set to Bolster US-Kenya Trade Relations

The fourth edition of the regional American Chamber of Commerce Kenya (AmCham) Business Summit, the premier platform for strengthening bilateral trade and investment between the United States, Kenya, and East Africa is set to be held on April 24–25, 2024, in Nairobi, Kenya.

President William Ruto has been confirmed as the Chief Guest, spearheading a government delegation to the summit that aims to expand commercial opportunities and markets. Several high-ranking US government officials are also expected to grace the occasion. There will also be close to 1,000 delegates, including business and government delegations from the US and across the East African region.

Mr. Peter Ngahu, the President of AmCham’s Board, highlighted that the Summit would explore opportunities to promote sustainable and inclusive growth while increasing investment in Kenya and the East African region.

“As we celebrate years of shared value and interests, the AmCham Business Summit stands as a beacon of opportunity. We look forward to exploring how we can leverage these opportunities as we stay committed to helping drive investments in East Africa,” Mr. Ngahu remarked.

A diverse array of topics crucial to the region’s economic development will be addressed during the summit. These include discussions on shaping the future of US-East Africa trade and investment, climate action, digital transformation, and sustainable finance for East African economies. Panels, keynotes, and roundtable discussions, moderated by experts from both the public and private sectors, are set to provide insightful perspectives on navigating the evolving business landscape in the region.

AmCham’s CEO Maxwell Okello highlighted the summit’s potential to explore vast trade and investment opportunities, driving economic growth and prosperity across East Africa.

“The summit provides a platform to explore the vast trade and investment opportunities that lie ahead, fostering economic growth and prosperity across our region. We are delighted to convene the business community to chart the course towards strengthened cooperation in critical spheres such as trade and investment, technology, sustainability, healthcare, and economic growth, all while nurturing meaningful connections between businesses and nations.” Okello stated.

AmCham’s CEO Maxwell Okello

According to the African Development Bank’s East Africa Economic Outlook, East African economies are poised to achieve the highest regional economic performance on the continent, with growth figures exceeding 5 percent. However, persistent barriers to trade and investment, such as illicit trade, counterfeits, currency volatility, and inflation, continue to challenge the region’s economic landscape.

In 2022, the United States emerged as Kenya’s largest export market, with approximately $890 million in goods exported to the US. Additionally, the US exported around $600 million in goods to Kenya, reflecting a balanced trade relationship. This relationship is expected to further strengthen as negotiations for a Strategic Trade and Investment Partnership between the US and Kenya progress, marking a significant milestone in bilateral trade relations between the US and a sub-Saharan African country.