1. CS Betty Maina at N'djili International Airport, Kinshasa to welcome the Kenyan investors to DRC
2. CS Betty Maina signing the Visitor's Book at the Kenyan Embassy in DRC stand during the exhibitions in Kinshasa
3. Chief Administrative Secretary Lawrence Karanja during the official opening of the trade mission in Lubumbashi
4. Participants during panel discussions
8th December 2021, by Public Communications Office
Over 200 investors from Kenya are in the Democratic Republic of Congo as part of the ongoing 14-day trade mission traversing four major Cities of the country that commenced on 29th November, 2021.
The investors are in the DRC to explore collaboration with local companies producing and trading in goods and services in the fields of finance, education, tourism, livestock, beauty and cosmetics, manufacturing, transport and professional services like legal, architectural, engineering, insurance and medical.
Speaking at the N’djili International Airport in Kinshasa on Monday 29th November 2021, the Cabinet Secretary for Industrialization, Trade and Enterprise Development Hon. Betty Maina, EGH welcomed the Kenyan investors to DRC where they are participating in panel discussions and exhibitions to showcase their products and services. They have so far concluded the activity in Kinshasa city, and are currently in Lubumbashi before they head to Goma and Mbuji-Mayi.
CS Betty Maina lauded the long-standing cordial bilateral relations between Kenya and DRC, noting these have strengthened trade and investment between the two countries. She called on the investors to make full use of their visit to DRC to make business transactions and form partnerships for the benefit of the two countries.
The trade and investment mission was conceived in April 2021 during President Uhuru Kenyatta’s State visit to DRC where, on noticing the huge trade and investment opportunities there, challenged CS Betty Maina, Equity Bank and the private sector to immediately explore the business opportunities to increase market share of Kenya’s goods and services in DRC and in the Great Lakes region.
The Democratic Republic of Congo is the 6th leading export destination for Kenyan products in the world which include agricultural and manufactured goods, mineral fuels and oils. In 2020, Kenya exported to Congo goods worth Ksh 14.9 Billion and imported Ksh 232 Million, mostly copper, slag and ash, pearls, precious stones, and inorganic chemicals. Trade between the two countries has always been in Kenya’s favour.
The trade and investment mission’s strategy is to fully exploit the economic and political geostrategic positioning of Kenya, the provisions of multilateral and regional trading framework and cultural diplomacy between the two countries.
The trade objectives are to increase the share of Kenya's exports to DRC, introduce Kenyan products and services to the DRC consumers, and establish distribution value chains across DRC and neighboring countries.
The mission’s economic objectives include to anchor Kenya’s trade and investment relations on the existing legal instruments i.e. EAC, AfCFTA; use Kenya’s economic and strategic institutions to advance our interests in that region; develop strategic capacity for critical institutions in DRC that will promote and protect Kenya’s trade and economic interests.
The mission also aims to establish distribution infrastructure, warehouses and trade centers with diplomatic privileges; expand participation in trade fairs; organize contact promotion programmes; and identify and tap potential of new market segments through niche marketing.
The DRC is the largest country in sub-Saharan Africa, the second-largest in all of Africa, and the 11th-largest in the world with a population of 93.4 million people. Kinshasa is the capital city with 14.9 million people while Lubumbashi, Goma and Mbuji-Mayi have a population of 2.6 million, 670,218 and 2.6 million respectively.
The Kenyan delegation was led by CS Betty Maina, Chief Administrative Secretary Lawrence Maina, and Kenya’s Ambassador to DRC Amb. George Masafu while Equity Bank was led by its Group Managing Director and Group Chief Executive Officer of Equity Group Holdings Plc, Dr. James Mwangi.