Kenya eyes more investment in upcoming economic summit

Kenya said on Friday that next month's 6th Global Entrepreneurship Summit (GES) will help strengthen the country's trade ties with U.S., Africa and global markets.

State House Spokesperson Manoah Esipisu said in a statement that the summit offered the country opportunities to exchange high- level views and ideas between government, global business leaders, entrepreneurs and innovators.

"The privilege of hosting this summit endorses our professed positive economic outlook. We are eager to use this forum to deepen our regional integration and improve our global competitiveness," he said.

Launched by U.S. President Obama in 2009, GES brings together entrepreneurs and investors from across Africa and around the world annually to showcase innovative projects, exchange new ideas, and help spur economic opportunity.

The 2015 GES agenda will focus on generating new investments for entrepreneurs, with a particular focus on women and youth.

The selection of Nairobi as host city for the 2015 GES underscores how Africa, notably Kenya, has become a center for innovation and entrepreneurship.

Esipisu said the summit, which will coincide with Obama's visit in July, is likely to stimulate economic exchanges between Washington D.C. and Nairobi.

"As a country, we are acclaimed as an innovation leader in sub- Saharan Africa and we have evidence to support that acclaim, in our financial services and technology sectors," Esipisu said.

The government is keen on forging and strengthening its bilateral relations with the U.S. to promote foreign investment and entrepreneurial innovations in the country, and the broader eastern African region, and will also seek much needed global support in the war against terror.

Esipisu said that Kenya has evidence-based learning to offer in entrepreneurship and business leadership, and is also poised to benefit and learn from the entrepreneurial principles that are shared across international boundaries. This will foster its opportunities on inclusiveness, global competitiveness, expand the international supply chain and spread the exchange of ideas.

The spokesman said that the government would continue to integrate entrepreneurship into its transformation and economic development efforts by deploying necessary measures to support fledgling entrepreneurs and remove barriers that unnecessarily constrain them to stifle innovation.

He added that the government will promote private–public partnerships (PPP), pivotal infrastructure projects, manufacturing and others, to augment the small & mid-sized enterprises (SME) sector and promotion of entrepreneurship culture in the country. This, he said, will increase wealth creation, employability and provide a basis upon which a new paradigm shall be created.

Entrepreneurial innovation plays an important role in creating wealth and employment for the youth, enabling giant strides in efforts to eliminate poverty. Kenya's growth is attributable to a robust SME sector and the emergence of entrepreneurial innovations. Endi