In a bid to scout for business opportunities for KNCCI members and the business community at large, The Chamber 1st Vice President Dr. Erick Rutto embarked on a business trip to Lusaka , Zambia whereby he paid a courtesy visit to the Zambia Chamber of Commerce & Industry (ZACCI) whose mission is To promote and develop all productive economic activities including trade, commerce and industry speaking authoritatively on behalf of the business community and acting as a link between the private sector large and small and government and organizations having similar objectives to those of ZACCI.
From the courtesy visit The Chamber 1st Vice President and the officials from ZACCI held discussions on Business -to- business (B2B ) opportunities for both countries . Zambia has a lot of opportunities in ICT, Fintech and financial services. With the ease of doing business between the two countries, Kenyan SMEs can easily gain access to the Zambian market.
There is a current shortage of animal feeds in Kenya, Zambia would offer a solution to the problem, large scale is flourishing in Zambia with production of protein animal feed raw materials such as soya, sunflower and cotton seed cake which are also very affordable.
KNCCI and ZACCI will also collaborate in the implementation of the ICC Centre of Entrepreneurship which is a project that equips learners with the skills they need to become entrepreneurs and to succeed in an ever-changing world, with Kenya and Zambia being among the 12 countries implementing the project.
The Chamber 1st Vice President also held a meeting with the Zambia’s Minister of Commerce, trade & Industry Ho. Chipoka Mulenga , The Ministry’s Director of Industry , Mr. Sunday Chikoti alongside other senior officials from the Ministry and the Lusaka Business Expo . They held discussions on trade and investment opportunities between Kenya and Zambia.
Hon. Mulenga reiterated that the growing economic partnership between Kenya and Zambia with trade between the two countries standing at USD80 Million. He also noted very low intra-African trade standing at only USD10 Billion while imports to Africa are USD300 Billion. Both KNCCI and the Zambia Ministry of commerce agreed to explore on how we can utilize African Continental Free Trade Area (AfCFTA )to bridge this gap.
Hon. Mulenga shared opportunities for Kenyan investors particularly in financial services & fintech, ICT, agriculture including livestock feeds, mining, health sector among others. Additionally, distribution of Fast-moving consumer goods (FMCG) in 8 regional countries with a population of over 300 million.