CAPE TOWN: The governments of South Africa and Kenya have signed a Memorandum of Understanding on investment co-operation. The MoU signed on Thursday was inked on the sidelines of President Jacob Zuma’s state visit to Kenya this week.
South Africa’s acting Head of Invest, Yunus Hoosen at the signing ceremony said the MoU was strategic and in line with the country’s strategy of promoting investment and trade within the continent for mutual development.
South Africa has more than 60 companies operating in Kenya, from the financial services industry to franchising. It’s exports to Kenya amounted to $580 million and imports from there were worth $26 million in 2015. Leaders of both countries lauded the signing of the investment MoU and urged the private sector to do business among themselves.
