The African Export–Import Bank (Afreximbank) on Friday signed a cooperation agreement with Kenya Association of Manufactures (KAM) at the third edition of Africa’s largest trade and investment fair, IATF 2023 taking place in Cairo, Egypt.
The agreement aims to drive manufacturing contribution to Kenya’s GDP from the current 7.8 percent to 20 percent by 2030, said KAM chief executive Anthony Mwangi, adding that manufacturing’s contribution to Africa’s GDP is quite low.
“Africa has to be competitive to be able to compete with other nations in the world. Afreximbank has all the tools for trade across Africa.” Mwangi said.
The Kenyan official said in earlier statements that his country just needs to fix a few soft and uncomplicated issues to make Kenya’s investment landscape attractive.
Mwangi signed the agreement with Lizanne Case, Head of Trade Intelligence Solutions, Office of the President at Afreximbank.
