President Kagame officiated the signing of MOU between PSF and KNCCI

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Chairmans Kiprono of KNCCI & Gasamagera of PSF after signing MoU (Photo Village Urugwiro)

On July 11, 2015 in Kigali SERENA Hotel, the Rwanda Private Sector Federation (PSF) and Kenya National Chamber of Commerce and Industry (KNCCI) signed a Memorandum of Understanding in a forum attended by over 200 key business players from Kenya and Rwanda’s Private Sectors, and policy decision makers from both governments.

The PSF Chairman Mr. Bénjamin Gasamagera indicated that this MOU aims to promote mutual collaboration for expanding business in both counties. The MOU will foster accountability and enhance collaboration, with the proposal that members meet on an annual basis. It will provide a framework through which both bodies will work together in doing business in coming years.

On behalf of KNCCI, Mr. Kiprono Kittony who is the chairman lauded Rwanda for offering same opportunities to all especially treating Kenyan investors as Rwandans. “More Kenyans are investing in Rwanda; we invite Rwandans to invest in Kenya too,” added Kiprono.

The MoU lays the principles that the two countries’ business leaders will be meeting every year to agree on business to be implemented and meet the following year to assess how the business has been implemented.

Speaking at the event, the president of the Republic of Rwnda, H.E Paul Kagame encouraged business leaders from Rwanda and Kenya to be involved in healthy and complementary competition and he promised them full government support.

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Participants held interactive session with President Kagame (Photo Village Urugwiro)

“Don’t expect us to protect you from competition; that would only make us weaker in the long term. We will not protect you from competition but we will do everything we can to make you more effective competitors,” the president said.

The Kenya – Rwanda Business forum (KRBF) was under the theme stipulated as “Expanding Business Opportunities Beyond Borders.” The forum aimed to promote trade, investments, and enhance bilateral partnerships between the business actors from the two Partner States.

The forum emphasized the role of the private sector as the foundation for economic development and prosperity of both Rwanda and Kenya, which is strengthened when private sector is at the centre of this transformation, and closer collaboration between Government and Private sector.

The Kenya-Rwanda business forum include will facilitate business to business engagements, take advantage of the available trade and investment opportunities, help clear bottlenecks faced by business operators while conducting trade, enhance business through regional cooperation and integration, and serve as an accountability mechanism for the private sector.

All speakers during the event appreciated the political will from states of the EAC particularly Rwanda to make doing business easier and more practical.

Participants at the forum held an interactive session with President Paul Kagame, followed by discussions about investment opportunities in Rwanda as well as business to business engagements on investment opportunities in different clusters including tourism and real estate, energy and extractives, agriculture and manufacturing, as well as ICT and transport.

This forum comes as a follow up action to the breakfast session between the Kenya National Chamber of Commerce and Industry (KNCCI) and the President of Rwanda on February 20, 2015 in Nairobi Kenya, following their invitation.