Team Canada arrives in Kenya for business deals
A group of Canadian companies has pitched tent in Nairobi – as they seek to seal business deals and investments within the East African economic powerhouse.
This comes as Canada remains keen to expand and deepen its trade and investment relationship with Kenya.
The firms are eyeing investments in renewable energy, oil & gas, geophysical surveys, water, ICT, life-sciences and airport construction sectors, amongst others.
Kenyan businesses, led by the Kenya Private Sector Alliance (KEPSA), are also keen to forge partnerships that will ensure mutual benefit for both countries.
“It is our hope that this upcoming business delegation to Kenya will act as one of the stepping stones towards deepening this relationship,” KEPSA said in a communiqué.
KEPSA and the High Commission of Canada lead the two countries’ business delegations to a recent networking event in Nairobi, creating an opportunity for the teams to share business ideas and investment opportunities. The event was held at the Trademark Hotel, Village Market.
“Canada is interested in expanding and deepening its trade and investment relationship with Kenya,” the High Commission of Canada’s office in Nairobi affirmed.
The visit to Kenya is part of a mission dubbed – “2018 Team Canada Mission to Africa”, which is targeting investment and business opportunities within the continent.
The mission brings together companies and educational institutions from Canada, Africa based institutions and Kenyan companies.
They include Alberta, ATCO Frontec Limited, C4i Training and Technology, GEOSEIS Inc., Ingeni Inc, Intercontinental Consultants Inc. and Kamit Group, a leading provider of “one stop shop” professional services for construction sectors and complex process industries.
Others are Southern Alberta Institute of Technology, Western Frac Vap Inc., Canadian International Resources and Development Institute (CIRDI), Manitoba Hydro International – MHI, Sandgeo, BluWave Inc. (BluWave-ai), The Humber Institute of Technology and Advanced Learning, Quebec, BFK International and DERA : Développement Énergie Renouvelable Afrique inc.
Also participating in the mission is Renewable Energy Development Africa inc., Intelcan Technosystems, InnuScience, Joli-Cœur Lacasse, Lasalle | NHC, Momentum Technologies, Optel Group, Ozymes Inc., PAL TI Solutions and Tugliq Energy Corp. They have support from Opportunities New Brunswick (ONB), Ontario and the MAPP Africa platform, which promotes and connects Africa to Canada.
Renewable Energy Technology, a Canadian-Ethiopian company is also participating in the events. The firm is keen to operate in Africa by developing partnerships between Canadian and African partners. Also in the mission is the Global Affairs Canada.
The Canadian Trade Commissioner Service (TCS) is backing the African mission. TCS helps companies navigate the complexities of international markets and make better business decisions.
It has presence in more than 160 cities worldwide where it gains market intelligence, uncover opportunities for Canadian companies and help reduce business costs and risks.
The mission succeeds President Uhuru Kenyatta’s recent meeting with key Canadian business stakeholders, who assured him of their continued endeavours to invest in Kenya.
During the September (2018) meeting, President Kenyatta held talks with over 25 business executives, including a recent investor, David Kay, whose Tenor Capital company has invested USD $300 million in Kenya’s renewable energy sector.
The Canadian business community further expressed their desire to partner with the Kenyan government in achieving President Kenyatta’s ‘Big 4’ pillar of development.
Source: African Strategic-Ventures (ASV) & The Exchange.