SA, Kenya urged to collaborate and grow economies

M-PESA Mobile for Safaricom

M-PESA Mobile for Safaricom

PRETORIA, (CAJ News) – SOUTH Africa and Kenya have been urged to complement each other in order to enhance the growth of their respective economies.

This has been the prevailing sentiment at the ongoing first leg of the Outward Selling and Investment Mission, which is currently underway in the capital of Kenya, Nairobi.

The South African Chief Director of Export Promotion and Marketing the Department of Trade and Industry (DTI), Zanele Sanni, said both South Africa and Kenya were renowned for the soundness and advances made in their financial services sector, particularly in the banking sectors.

“Pairing the strengths of Kenya in mobile money transfer (M-PESA) with South Africa’s large pool of the unbanked can help catapult the latter’s fledgling industry in this subsector.

“On the other hand, South Africa’s expertise in the development of capital equipment, deep mining technologies and manufacturing can be exchanged between the businesspeople to stimulate the optimal, responsible and sustainable use of Kenya’s new found mineral resources,” Sanni said.

Sanni cited developments at the recent African Union summit held in Ethiopia, where both President Uhuru Kenyatta and President Jacob Zuma reiterated their commitment to the aspirational pillars of a prosperous Africa that is based on inclusive growth and sustainable development amongst others.

Memoranda of Understanding (MoUs) aimed at boosting trade and investment were being discussed with a view of finalising them in mid-2015.

This according to Sanni, obligates both the public and the private sector to work together to attain these ideals of a progressive and influential Africa.

“What this translates to is that businesspeople in both countries need to work on the synergies that would give life to these political commitments,” she emphasised.

– CAJ News

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Posted by on Feb 17 2015. Filed under Finance, Finance & Banking. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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