A historic event took place today in Nairobi, as the Kenya National Chamber of Commerce and Industry (KNCCI) hosted a groundbreaking forum aimed at boosting intra-Africa trade. The event, which marked a significant milestone for the region, was graced by His Excellency William Ruto, President of the Republic of Kenya. This event holds special significance, as it is the first time such a gathering has taken place on African soil.
Shakir Swaleh Mohamed, a Director at KNCCI and representative of the Coast Region, expressed the importance of the gathering, highlighting the region’s unique role in fostering business growth. The Coast Region, which includes Mombasa, Kwale, Taita Taveta, Tana River, Lamu, and Kilifi, is pivotal in the efforts to open up the African Continental Free Trade Area (AfCFTA), an initiative that aims to increase economic cooperation and intercontinental trade among African nations.
“We are committed to creating a conducive environment for businesses to thrive,” said Mohamed. “Today’s event is a testament to the good work we are doing as the Chamber. By working together, we aim to unlock the vast potential of Africa’s youthful and skilled workforce, enabling our businesses to prosper.”
Africa, with its rich resources and dynamic population, currently engages in only 17% of trade within its borders. This is in stark contrast to Europe, which sees 67% of its trade happen between member states. This discrepancy serves as a wake-up call for African nations to strengthen their trade ties and focus on intra-Africa commerce.
“We must look inward and build stronger business partnerships across the continent,” Mohamed added. “We have the potential to boost trade among ourselves, create jobs, and grow the economy if we tap into the opportunities presented by the AfCFTA.”
President William Ruto, in his address, underscored Kenya’s commitment to leading the way in Africa's economic integration and encouraged other African countries to follow suit. “The future of Africa lies in how well we trade with one another,” said President Ruto. “We must move beyond borders and break the barriers that hinder economic progress within our continent.”
The event also brought together key stakeholders, business leaders, and policymakers, all united in their determination to create a more connected and prosperous Africa. The forum focused on how African businesses can capitalize on the opportunities available through the African Continental Free Trade Area, with a particular emphasis on improving cross-border trade.
The Coast Region’s strategic position along the Indian Ocean offers a unique advantage for trade, making Mombasa a key hub in the efforts to unlock Africa's full economic potential. With the support of the KNCCI and other stakeholders, there is optimism that this event will be a catalyst for greater economic collaboration and growth throughout the continent.
As Africa continues to confront challenges such as unemployment and underdevelopment, the need for intra-Africa trade becomes increasingly urgent. The successful launch of this event sets the stage for a new era of African business collaboration, and Kenya is at the forefront of this economic transformation.
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