South Africa plans to prioritize its economic relationship with Kenya to boost trade and investment, Trade, Industry and Competition Minister Ebrahim Patel said.
(Bloomberg) — South Africa plans to prioritize its economic relationship with Kenya to boost trade and investment, Trade, Industry and Competition Minister Ebrahim Patel said.
Trade between the two countries last year was only 6.5 billion rand ($366 million), which was “not sufficient,” Patel said at a business forum in the Kenyan capital, Nairobi, on Wednesday. He spoke after South African President Cyril Ramaphosa and his Kenyan counterpart, William Ruto, held talks about increased cooperation, including allowing visa-free travel by Kenyans to South Africa from Jan. 1.
Kenyan Trade and investment Secretary Moses Kuria urged South African companies to invest in private-public partnerships and the East African nation’s special economic zones. He also invited South African banks and telecommunications companies to participate in the Nairobi International Finance Centre and urged construction companies to take advantage of housing construction opportunities in his country.
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