NAIROBI,KENYA, OCTOBER 16 — A group of Canadian companies has pitched tent in Nairobi as they seek to seal business deals and investments in the East Africa economic powerhouse.
This comes as Canada remains keen in expanding and deepening its trade and investment relationship with Kenya.
The firms are eyeing investments in renewable energy, Oil and gas sector including geophysical surveys,Water, ICT ,Lifesciences and airport construction companies among others.
Kenyan businesses, led by the Kenya Private Sector Alliance (KEPSA), are also keen to forge partnerships that will ensure mutual benefit for both countries.
“It is our hope that this upcoming business delegation to Kenya will act as one of the stepping stones towards deepening this relationship,” Kepsa said in a communiqué.
KEPSA and the High Commission of Canada lead the two countries’ business delegations to a networking event in Nairobi on Monday, creating an opportunity for the teams to share business ideas and investment opportunities.The event was held at the Trademark Hotel, Village Market.
“Canada is interested in expanding and deepening its trade and investment relationship with Kenya,” the High Commission of Canada’s office in Nairobi affirmed.
The visit to Kenya is part of a mission dubbed “2018 Team Canada Mission to Africa” which is targeting investment and business opportunities in the continent.
The mission brings together companies and educational institutions from Canada, Africa based institutions and Kenyan companies.
They include Alberta, ATCO Frontec Limited, C4i Training and Technology, GEOSEIS Inc., Ingeni Inc, Intercontinental Consultants Inc. and Kamit Group, a leading provider of “one stop shop” professional services for construction sectors and complex process industries.
Others are Southern Alberta Institute of Technology, Western Frac Vap Inc., Canadian International Resources and Development Institute (CIRDI), Manitoba Hydro International – MHI, Sandgeo, BluWave Inc. (BluWave-ai), The Humber Institute of Technology and Advanced Learning, Quebec, BFK International and DERA : Développement Énergie Renouvelable Afrique inc.
Also participating in the mission is Renewable Energy Development Africa inc., Intelcan Technosystems, InnuScience, Joli-Cœur Lacasse, Lasalle | NHC, Momentum Technologies, Optel Group, Ozymes Inc., PAL TI Solutions and Tugliq Energy Corp.
They have backup from Opportunities New Brunswick (ONB), Ontario and the MAPP Africa platform which promotes and connects Africa to Canada.
Renewable Energy Technology,a Canadian-Ethiopian company is also participating in the events. The firm is keen to operate in Africa by developing partnerships between Canadian and African partners.Also in the mission is the Global Affairs Canada.
The Canadian Trade Commissioner Service (TCS) is backing the African mission. TCS helps companies navigate the complexities of international markets and make better business decisions.
It has presence in more than 160 cities worldwide where it gains market intelligence, uncover opportunities for Canadian companies and help reduce business costs and risks.
The mission comes barely a month after President Uhuru Kenyatta met Canadian captains of industry who assured him of their continued appetite to invest in Kenya.
During the September meeting, Kenyatta held talks with over 25 business executives, including a recent investor- David Kay, whose Tenor Capital company has invested US$ 300 million in the renewable energy in Kenya.
The Canadian business community expressed their desire to partner with the Kenyan government in achieving President Kenyatta’s ‘Big 4’ pillars of development.