Kenya and the Democratic Republic of the Congo (DRC) in partnership with Equity Group will facilitate a 15-day Trade Mission to DRC from 29th November to 13th December.
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 President Uhuru Kenyatta and President Felix Tshisekedi earlier in April 2021.
The two principals signed bilateral agreements between Kenya and the DRC aimed at enhancing trade and the movement of people and goods.
“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.” President Kenyatta noted.
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.
*This article was written by Agencies for Uzalendo News. Email: uzalendonews24@gmail.com to submit your story.
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