Kenya’s participation in Expo Dubai 2020 is expected to add $ 1.5 billion in value to the economy
NAIROBI, Kenya, November 5 – Kenya’s participation in Expo 2020 Dubai is expected to add immediate $ 1.5 billion in value to the economy through business leaders in investments, tourism and exports, the CEO of Kenya Export Promotion and Branding Agency (KEPROBA) Wilfred dit Marube.
In an interview with Capital enterprise, Marube said Kenya is capitalizing on the exhibition to diversify its export markets, identify opportunities and link with importers.
“We see the immediate benefits amounting to 1.5 billion shillings in terms of what we expect from large-scale investment and exports. We are looking for opportunities in tourism, sales and exports, by participating in the Expo, Kenya will improve its profile and image in the UAE and the Middle East, while promoting the Kenya brand to the world and by increasing awareness of Kenya’s tourism, trade and investment opportunities, ”he said.
As part of a medium and long-term plan, the resources mobilized and the commitments of government-to-government agreements should mobilize up to $ 1 billion from the sovereign funds of the States of the Gulf Cooperation Council (GCC).
Specifically, Kenya is eyeing the United Arab Emirates (UAE) / GCC markets which Marube says have “barely been scratched” even though it reveals its huge potential due to its high GDP, huge sovereign wealth funds. and its status as a net importer.
Kenya is seeking to increase its exports to the GCC from $ 555 million in 2019 to $ 2.5 billion in 2022.
“The United Arab Emirates and the country’s Gulf Council, for example, is an area where we want to get the most out of exports, they are net importers of food and Kenya is a major producer of agricultural products,” did he declare.
In addition, he said Kenya would take advantage of the exhibition to project itself as a hub for foreign direct investment through various forums, including one on housing and infrastructure, where Kenya will meet potential investors and present. investment opportunities in these sectors.
The exhibition, Marube said, has a budget of 330 million shillings that has been spent on marketing, advertising, product presentation and facilitating logistics.
Kenya is one of 192 countries that have confirmed their participation in the exhibition and has reserved a 400 square meter pavilion which has so far attracted 50,000 people with a projection of at least 2,000 to 3,000 visitors per day .
Marube said the government plans to have at least 7.5 million visitors by March 2022.
Describe the theme of the pavilion feel the energy, the CEO of KEPROBA noted that it reflects and epitomizes the Kenyan people, whom he described as hardworking and determined.
The pavilion presents various products highlighting agricultural potential, the innovation sector (fintech, edu-tech, agro-tech), cultural diversity, energy, tourism and manufacturing sectors.
Thirty-four MSMEs have already benefited from a program where their products ranging from cultural artifacts, tea and coffee were freely shipped to the exhibition for display.
In order to facilitate the participation of more business people in the exhibition, the agency secured a position in the global village (outside the exhibition) called kenyan house where companies can showcase their products and services at a subsidized price.
“I want to encourage Kenyan companies to participate in the exhibition by these means, we also have a website where those who cannot ship their products can have the opportunity to exhibit their products,” he added. .