The U.S. Chamber of Commerce’s U.S.-Africa Business Center on Friday hosted the U.S.-Kenya Business Forum featuring the President of Kenya William Ruto, U.S. Vice President Kamala Harris, U.S. Secretary of Commerce Gina Raimondo, and U.S. Chamber President and CEO Suzanne P. Clark.
The Forum was aimed at spurring economic growth and investments in Kenya and across Africa. “Kenya works and we mean business,” said President Ruto. “When it comes to investment, we are ready for you. Let’s bring your vision to reality. And let us build Kenya together with your companies.”
The Forum featured speeches and discussions on deepening the bilateral economic relationship and the facilitation of over $2 billion in new and expanded commitments between the U.S. and Kenyan governments, businesses, and investors, according to the press statement from the U.S. Chamber of Commerce.
Held during President Ruto’s State Visit to Washington, D.C.—the first for an African head of state in 16 years—the Forum also convened U.S. Senator Chris Coons, U.S. Ambassador to Kenya Meg Whitman, and public and private sector leaders from the U.S. and Kenya.
“I strongly believe that we are at a moment where we should revisit and upgrade and update the narrative of the relationship between the United States and the continent of Africa,” said Vice President Harris. “When you think about the continent, the median age is 19 years old. It is predicted that by 2050, 1 in four people occupying space on Mother Earth will be on the continent of Africa. So, from that perspective, many could rightly argue that the future is on the continent of Africa.”
Economic growth and advancing U.S.-Kenya trade and investments were key themes as Kenya President William Ruto joined the U.S. Chamber on Friday during his historic State Visit for the U.S. Kenya Business Forum.
“Kenya works and we mean business,” said President @WilliamsRuto.… pic.twitter.com/TqeaDmIc4k
— U.S. Chamber (@USChamber) May 24, 2024
Clark presented President Ruto with the U.S.-Africa Business Center Outstanding Leaders’ Award in recognition of his work advancing business-led solutions across Kenya and his steadfast commitment to trade and investment.
“We are proud to mark the 60th anniversary of U.S.-Kenya diplomatic relations by welcoming President William Ruto to the U.S. Chamber of Commerce,” said Clark. “In 2020, it was right here at the Chamber that the Kenyan government announced its intention to negotiate a free trade agreement with the U.S. And today we renew our commitment to break down barriers standing in the way of a vibrant trade and investment relationship. We will continue our long history of working with public and private sector leaders from Kenya to deepen bilateral economic ties and unleash Kenya’s potential as an engine of growth not only in Africa but across the globe.”
Last month, the U.S. Chamber led a delegation of 30 business leaders to Kenya for the AmCham East Africa Business Summit, to coincide with Secretary Raimondo’s visit to Nairobi. The U.S.-Kenya Business Forum is part of the Chamber’s strategic cadence of engagements to expand the business linkages between Kenya and the United States.
“The Chamber knows firsthand how deepened ties with Africa creates valuable opportunities for U.S. businesses, workers, and consumers,” said Kendra Gaither, President of the Chamber’s U.S.-Africa Business Center.
“The Chamber urges the swift reauthorization of AGOA to further incentive investments that will create jobs, bolster our economies, and strengthen U.S. standing in the region. Today’s Forum is a public reaffirmation of our strategic partnership with Kenya and of the vision advanced at the U.S.-Africa Business Forum: that all U.S. businesses should take note of the rich opportunities for trade, investment, and commerce in Africa.”
The Business Forum featured significant deal signings on two stages between the U.S. and Kenyan public and private sectors, including nearly $2 billion worth of deals inked by Google, Marathon Digital Holdings, Acorn Holdings Limited, Siemens Healthineers, the U.S. International Development Finance Corporation, Kenyan company M-KOPA, Semiconductors Technologies Limited, and Microsoft. The U.S. Chamber also announced an upcoming GreenTech Business Mission to Kenya to showcase U.S. green technology and provide a platform for projects, innovative solutions, and regulatory best practices.
The U.S. Chamber’s hosting of President Ruto is part of its important work representing and advocating for U.S. business interests at home and abroad. Each year, the U.S. Chamber hosts dozens of heads of state and over 500 other senior officials from around the world at its headquarters. Last year, the U.S. Chamber of Commerce led business delegations to 37 foreign capitals across every continent except Antarctica, providing access and insights for businesses expanding into new markets. The Chamber also represents the American business community at multilateral gatherings, including the Munich Security Conference, the UN General Assembly, APEC, and COP28.