KENYA HOSTS THE 2024 EGYPT-KENYA TRADE MISSION.

BY VICTORIA MOVINE

Kenya has hosted the 2nd round Egypt- Kenya business bridge forum in Nairobi as several Egyptian companies seek to explore partnerships in order to grow trade between Kenya mad Egypt.

As a branch in Kenya, the International Commercial Bank CIB, the Egyptian largest private sector bank, played a big role as the banking partner of the companies that were present in the business forum.

Brazil traders showcasing their products to potential customers in Kenya.

The increasing adoption of digital banking services and the rise of fintech startups in Kenya have attracted Egyptian banks keen on offering innovative financial products and services to cater to the evolving needs of Kenyan consumers and businesses.

“Kenya and Egypt have enjoyed trade ties for many years and as CIB which is the only bank that currently has a presence in Egypt and Kenya, we are at the forefront of facilitating this trade which is the key strength that will bring this particular trade mission." Said Daphne Maina the acting CEO, CIB.

Daphne Maina, Ag Chief Executive Officer Commercial International Bank.

According to Daphne Maina, As the banking partner, CIB facilitated the trade transactions worth about 600 million dollars together with Kenya and the COMESA body. She further added that CIB is the forefront of providing trade solutions with several corresponding relationships that the bank is able to facilitate trade mission between Kenya and Egypt.

With Kenya's improving infrastructure and efficient transportation networks, Egyptian logistics firms see the country as a pivotal hub for expanding their distribution networks and streamlining supply chain operations across the region.