In Nairobi, the nation’s capital, the inaugural European Union-Kenya Business Conference came to an end on Wednesday.
More than 500 people attended the forum over the course of two days, including ambassadors, corporate leaders, and politicians.
William Ruto, the president of Kenya, took part in the signing of an EU funding package for TradeMark Africa on Tuesday. The funds will support a five-year initiative that would increase Kenya’s exports and aid the government in fostering a favorable business environment.
The $27 million finance package, which unites Kenya’s public and commercial sectors with European financial institutions, aims to achieve a sustainable expansion of exports, including transportation and logistics.
Kenya’s exports are currently primarily shipped to the European Union.
The value of goods sold in European markets in 2021 was $1.3 billion.