The Deputy Director-General of Export Promotion, Development and Outward Investment at the Department of Trade, Industry and Competition (the dtic), Ms Lerato Mataboge says South Africa and Kenya will embark on a review of their partnership with the aim of charting a concrete plan of action for the next 10 years.
Mataboge was speaking at the South Africa-Kenya Trade and Investment Business Forum in Pretoria today.
“Collective insights to be shared by both industry and our political principals today will ensure that we have a concrete plan of action that will set South Africa, Kenya and the rest of Africa on a very positive course for the future. The deliberations today will contribute to the economic agenda for future continental summits and Bi-National Commissions,” said Mataboge.
Mataboge anticipated the deliberations of the forum to enable both countries to have a roadmap towards the achievement of the consolidation of the economic gains made through the South Africa-Kenya partnership, in the context of an ever-changing global political and economic landscape.
“We will also deliberate on the improvement of the levels of bilateral investments between South Africa and Kenya as well as ways of balancing the bilateral trade flows between the two countries. The forum will also articulate strategies on how we can work together to mitigate the adjustment costs that will surely materialise as we aim to leverage opportunities presented to us by the Fourth Industrial Revolution and the challenges of the COVID-19 pandemic and adjustment to climate change,” added Mataboge.
She further said it was imperative that both South Africa and Kenya’s governments and the private sector work together to come up with concrete mechanisms to address the skewed balance of trade between the countries.
“We are also looking at increasing the levels of investments between two countries. There are many South African companies that have invested in Kenya, in sectors such as Information and communications technology (ICT), business services, real estate, and financial services.
“We are committed to seeing and facilitating more investments from Kenya into South Africa and are looking forward to joint-venture partnerships between our companies and academic institutions,” she said.
The forum also saw three cooperation agreements signed between Equity Bank Kenya and Western Cape Tourism, Trade and Investment Promotion Agency (Wesgro); Kenya National Chamber of Commerce and Industry (KNCCI) and South African Chamber of Commerce and Industry (SACCI); and between Kenyan Airways and South African Airways.