\WASHINGTON, D.C. — The U.S. Chamber of Commerce's Africa Business Initiative and The Whitaker Group hosted His Excellency Uhuru Kenyatta, Deputy Prime Minister and Minister for Finance from the Republic of Kenya, at a breakfast meeting yesterday with leading U.S. companies doing business in Kenya. Minister Kenyatta was accompanied by the Governor of Kenya's Central Bank and senior officials from the Ministry of Finance.
"While the past few years have presented formidable challenges for Kenya, we are encouraged and impressed by the leadership of the Finance Minister, particularly during this period of global financial distress," said Greg Lebedev, Senior Advisor to the Chamber and Chairman of the Center for International Private Enterprise (CIPE). "The Minister fully recognizes that Kenya's domestic and international business community will play a central and critical role in Kenya's economic progress going forward."
The U.S. Chamber of Commerce's Africa Business Initiative, led by Executive Director Scott Eisner was created to engage the U.S. business community on policies that foster foreign direct investment in Africa and to facilitate new and expanded trading relations between the U.S. and African countries. This morning's breakfast was the first in a series of U.S. Chamber and CIPE initiatives aimed at facilitating direct engagement with leading African officials on specific challenges to expanding and strengthening U.S.-African business ties.
Minister Kenyatta highlighted the Kenyan Government's broad reform agenda and their special commitment to ensuring a strong and stable foundation for partnership with the U.S. private sector. In particular, he spoke about Kenya's ongoing process of regulatory improvements to their financial and capital markets as well as reforms in their electoral and judicial processes. He also provided an update on several business enhancements and tax modifications which are now underway. In addition, Kenyatta outlined a number of emerging investment opportunities in Kenya, ranging from agricultural production and alternative energy to communications and business process outsourcing.
The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.
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