Courtesy Call from Bavarian Ministry of Economic Affairs
27/10/2023: The Bavarian Ministry of Economic Affairs, Regional Development, and Energy, represented by Senior Ministerial Advisor Georg Schmidt, paid a courtesy visit to KAM Chief Executive Anthony Mwangi. Mr Schmidt was accompanied by Ms Charlotte Griese, responsible for Foreign Economic Relations, and George Warutere Senior Project Manager AHK (Delegation of German Industry and Commerce for Eastern Africa (AHK Eastern Africa). The purpose of the visit was to explore opportunities for investment collaboration in Africa, specifically to gain a comprehensive understanding of the manufacturing landscape in Kenya.
Mr Schmidt mentioned that Bavaria is contemplating expanding its engagement in Africa, where they perceive significant potential. He emphasized Bavaria’s role as a catalyst for economic growth, driven by an export-oriented economy. Their focus areas include fostering relationships with small and medium-sized enterprises (SMEs) and facilitating technological exchanges.
KAM Chief Executive, Anthony Mwangi, provided insights into the manufacturing landscape, highlighting the opportunities within the Kenyan manufacturing sector. He noted that while the manufacturing output is growing, it is not at the expected pace in terms of gross value. Additionally, he mentioned that the manufacturing sector currently contributes 7.8% to the GDP, with an ambitious plan to increase it to 20% by 2030.
Mr Mwangi underscored the importance of green manufacturing, highlighting Kenya’s wealth of geothermal resources that have been earmarked as a Special Economic Zone (SEZ). This underlined the country’s commitment to sustainable industrial practices, further enhancing the appeal for investment collaboration between Bavaria and Kenya.
In terms of market access, Mwangi stated that Kenya’s strategic geographical location as the gateway to East Africa makes it an ideal hub for businesses looking to expand further into the African continent. He added that investing in Kenya would grant Bavarian Ministry access to the East African Community (EAC), Common Market for Eastern and Southern Africa (COMESA), and the larger European Union markets.