First-Ever U.S.-Kenya Business Roadshow Kicks Off with $55 Million in Co-Investment Deals

The first-ever U.S.-Kenya Business Roadshow was launched in New York City on Tuesday, where the Prosper Africa initiative and the U.S. Embassy in Kenya gathered leading businesses, investors, and Kenyan government officials. The roadshow aims to strengthen the economic partnership between the United States and Kenya.

During the launch, Ambassador Whitman announced six new co-investments worth $55 million with Kenyan and American apparel companies, which build on the 14 deals announced by Kenyan President William Ruto at the American Chamber of Commerce Summit (AMCHAM) in Nairobi in March. These co-investments, supported by Prosper Africa and the U.S. Agency for International Development (USAID), aim to connect American buyers with Kenyan manufacturers, creating more jobs in Kenya and the United States.

The co-investments include MAS Intimates, which will provide training for Kenyan workers to increase the production of high-quality Kenyan-made apparel; UAL, which will increase apparel exports to the U.S. market by building a one-stop shop in Kenya that harmonizes all steps in the production process from “Farm to Fashion”; Mega, which will expand production capacity by adding new production lines; Coast Apparel, which will purchase machinery to increase production and export capacity, creating new jobs for women and youth; Best Lifestyle, which will expand manufacturing in Kenya, hire and train new employees; and NexGen, which will set up a factory in Kenya to manufacture tags and labels for branding products in apparel and footwear.

“Prosper Africa is proud to connect U.S. buyers with African suppliers and drive U.S. investment into Kenya and countries across Africa,” said Prosper Africa Acting Coordinator Scott Cameron. “Together, we are creating jobs and fostering shared prosperity on both sides of the Atlantic.

Source; Kenyan Wall street

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