Kenya hosts the German-African Business Summit, 2017

President

The summit opened yesterday and will run until 10 February 2017.

GABS is being held in Nairobi for the first time after the great success of the first GABS in Berlin in 2015.

Confirmed Speakers include Kenyan President Uhuru Kenyatta, German Minister for Economic Affairs and Energy Brigitte Zypries, German Federal Minister for Economic Cooperation and Development, Dr. Gerd Müller, as well as Ministers from Equatorial Guinea, Kenya, Namibia, Nigeria, Sudan, Uganda and Zambia and high-ranking business representatives from throughout Africa and Germany.

GABS will focus on Africa’s economic potential and discuss future trends in African-German cooperation. The continent is the world’s second-fastest growing economy after East Asia. In 2015, African economies grew by 3.6 percent, higher than the global economy with 3.1 percent.

Also read : Kenya set to host Africa Finance & Investment Forum for the first time

East Africa has become the continent’s growth engine with an average growth of 6.3 percent in 2015.

During the two-day conference, some 400 participants from business and politics will have the opportunity to explore new markets, meet potential business partners.

With the exit of Britain from the European Union, German is now the biggest economical giant in EU and funds numerous projects across Africa.

A significant number of German tourists visit Kenya every year providing valuable foreign exchange not to mention Kenya’s export tonnes of horticulture produce to Germany as well.

The conference is organized by the Sub-Saharan Africa Initiative of German Business (SAFRI) with its sponsoring organisations the likes of the Association of German Chambers of Commerce and Industry (DIHK), the Federation of German Industries (BDI), the Federation of German Wholesale, Foreign Trade and Services (BGA) and the German-African Business Association (AV) in cooperation with the Network of German Chambers of Commerce and Industry in Sub-Saharan Africa (AHK), with the Delegation of German Industry and Commerce in Kenya serving as the organiser on site.