Nairobi, KENYA: The Kenya Private Sector Alliance KEPSA has expressed optimism that good economic relations between African nations and Germany would transform to industrial economies.
During the 2nd German-African Business Summit held in Nairobi on Thursday, Chairman Dennis Awori said that he has high expectations of the partnership.
“I have high hopes in the establishing of partnerships between East African companies and Germany especially in the areas of value addition of our products and manufacturing to increase trade.”
Mr. Awori singled out Germany as a giant in the technological and industrial front.
However, Dr. Gerd Muller, the Minister for Development from Germany, expressed the need for suitable conditions to ensure businesses flourished.
“That is why we need to see progress made on anti-corruption and legal certainty has to be created for companies.” Dr. Muller suggested.
Kenya and Germany have signed a bilateral agreement on vocational training for young people.
“Half of Kenyan youths are unemployed and that cannot be the future. It will negatively affect industrialization .Young people need education and employment. That is the problem the Kenyan government will be facing in the next 5 years and we want to be partnering with this country to be eradicate this challenge,” the minister said.
“A couple of years ago during the 1st German-African Business Summit a lot of German companies had expressed caution and fears on investing in Africa. But now over 400 investors are in Nairobi for the summit. I know the Germans, they wouldn’t come to Kenya unless they were seriously looking for opportunities,” concluded Mr. Awori.