The Barbados Chamber of Commerce and Industry (BCCI) hosted the Kenya National Chamber of Commerce and Industry (KNCCI) and was part of the Kenya business and government delegation to a courtesy meeting at the Hilton Resort in Bridgetown. The discussion followed the successful signing of a trade cooperation MOU executed by KNCCI President Mr. Richard Ngatia and BNCCI President Mr. Anthony Branker on behalf of the two Chambers of Commerce.
The two Chamber Presidents agreed to establish a Joint Business Council (JBC) to steer the operation of the MOU. The JBC would be tasked to develop an implementation strategy that would include a resource mobilization plan to discharge joint activities.
The meeting provided an opportunity for the Kenyan companies to interact with their Barbados counterparts and establish potential areas of business partnership. Key sectors of mutual interest were identified to include Manufacturing, Digital Telecommunications, Shipping, and Banking.
BCCI expressed interest in Kenya’s export-oriented ventures facilitated through the Export Processing Zones (EPZ). Kenya presents to Barbados investment opportunities in Shipping and Maritime, Tourism, Transport, and Logistics. In addition, Barbados is keen to benchmark and explore Kenya’s vibrant Fintech sector following the success of digital payment systems such as Mpesa and Equitel. This would prompt business partnership between Kenya and Caribbean companies towards the development of Intellectual Property Rights and digital infrastructure to facilitate E-commerce.
On the other hand, Kenyan companies could leverage on Barbados strength in value addition and manufacturing of cement, ships and packaged medicaments among other products.
Both parties were in consensus that the newly formed cooperation would be instrumental in bridging trade barriers between Kenya and Barbados. The two countries are strategically located with Kenya presenting an entry point for the Caribbean to penetrate the African market through the operation of the African Continental Free Trade Area (AfCFTA) agreement.
The Meeting was attended by:
- Mr. Anthony Branker- BCCI President
- Mr. James Clarke – BCCI Senior Vice President
- Ms. Betty Brathwaite – BCCI Vice President – Finance
- Mrs Misha Lobban Clarke – BCCI Executive Director
- Mr. Norman Barrow – MD, A&B Music Supplies Limited
- R. Paul Innis- Executive VP, Sagicor
- Mr. Victor Boyce – MD, Consolidated Finance
- Scott Oran – CEO, Oran
- Alison Browne-Ellis – Director, Cave Shephard & Co. Ltd
- Mr. Richard Ngatia – President, KNCCI
- Mr. Jaswinder Bedi – Vice Chair, KEPSA
- Dr. Moses Ikiara – MD, KENINVEST
- Dr. James Mwangi- Group MD, Equity Group Holdings
- Mr. Lopokoiyit Sitoyo- Safaricom CFO & MD, Mpesa Africa
- Mr. James Mbote – MD, Oilfield Movers Ltd