The Deputy Minister of Trade, Industry and Competition, Ms Nomalungelo Gina says South Africa and Kenya are working on several economic protocols, to promote and grow their economies. She said that the countries were actively collaborating in the sectors of tourism, fisheries, energy, Information and Communication Technology (ICT) and agriculture to carve a mutually beneficial path and to promote and grow business opportunities in the two respective economies. Gina said this during South Africa-Kenya webinar to explore business opportunities between the two countries.
Gina said that while both countries were pioneers in ICT, which is becoming the mainstay of the modern economy, South African and Kenyan entrepreneurs should be encouraged to collaborate in developing business solutions and new enterprises that will enhance trade between the two.
“The Fintech and tech companies are operating virtually without countries’ borders and can find markets across countries without physical interactions. We must facilitate these business explorations especially from the young entrepreneurs amongst these countries to maximise business activities. As the South African government, we have gazetted African free trade deal regulations, including a list of products that can be imported and exported duty-free in future. In this way, we want to also bring new competitors from other African countries to the local market, whilst expanding to other markets in the continent,” said Gina.
She added that the South African government was geared towards ensuring that its manufactured products enjoy the African market through the African Continental Free Trade Area Agreement.
“We are aiming at having the rules of origin covering 87% to 90% of products on our tariff book adopted by the Heads of State, and conclude bilateral offers with a number of countries,” said Gina.
The Kenyan High Commissioner to South Africa, Miss Catherine Muigai Mwangi said that the webinar provided an excellent opportunity to not only enhance bilateral trade but also boosting trade between the east African community and the Southern African Development Community (SADC).
“Kenya presents a unique opportunity and cuts a competitive edge in the region as a preferred location for investment. Investment opportunities exist in nearly all the sectors of Kenya’s economy as stipulated in Kenya’s development blueprint, Vision 2030, whose goal is to create a globally competitive and prosperous country with a high quality life for all its citizens,” said Mwangi.
She added that Kenyan government’s medium-term plans of the year 2018 -2020 highlighted four key priority areas for investment that were announced by President Uhuru Kenyatta at the beginning of his second term of presidency.
“These outlined investment areas that the government is focusing on include food security, manufacturing, affordable universal healthcare and affordable housing. To capitalise these investment opportunities the Kenyan government has taken decisive steps to ensure that the potential investment opportunities presented through the above areas are harnessed,” she said.
Enquiries:
Sidwell Medupe-Departmental Spokesperson
Tel: (012) 394 1650
Mobile: 079 492 1774
E-mail: MSMedupe@thedtic.gov.za
Issued by: The Department of Trade, Industry and Competition (the dtic)
Follow us on Twitter: @the_dti
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