British firms scout for investments in Kenya, Tanzania

GMT 18:24 2014 Tuesday ,28 October

Arab Today, arab today British firms scout for investments in Kenya, Tanzania

British firms scout for investments in Kenya, Tanzania
Nairobi - XINHUA

Some 14 British companies are exploring trade opportunities in Kenya and Tanzania as part of efforts to scale up their investments in the East Africa region, officials said on Tuesday.
A statement from the British High Commissioner in Kenya said the firms, dealing in security, IT, engineering, automotive and agricultural machinery, education and training, scientific equipment and freight and logistics will be participating in the trade mission to Tanzania and Kenya until Wednesday.
"The objective of this trade mission is to appreciate the UK- Kenya relations and the growing economic collaboration in the various sectors of interest," British Deputy High Commissioner to Kenya, John Murton said in the statement.
Analysts say Kenya is in the middle of a period of huge growth, and Britain is in prime position to support this growth and to help Kenya become the regional and international business center that it has the potential to be. The experts also say the British firms have a long history of success in the traditional Kenyan sectors of agriculture, food, drink, and more recently, telecoms.
Murton said there is increasing interest by British companies in doing business in Kenya as evidenced by the recent visit by the Lord Mayor of the City of London whose delegation included 25 companies.
"The trade mission looks forward to helping and supporting visiting companies to do business in both countries, by helping identify business opportunities and potential partnerships with local companies," the statement said.
The statement said Britain recognizes the importance of the East African region as a trading partner to British companies, and the benefits the companies can bring to both Kenya and Tanzania
The Lord Mayor of the City of London, Alderman Fiona Woolf, visited Kenya in September, with the largest-ever delegation of 25 UK-based companies that pledged an investment of about 170 million U.S. dollars in Kenya's financial, energy and infrastructural sectors.

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