Tuesday, July 1, 2025
  • Who’sWho Africa AWARDS
  • About Time Africa Magazine
  • Contact Us
Time Africa Magazine
  • Home
  • Magazine
  • WHO’SWHO AWARDS
  • News
  • World News
    • US
    • UAE
    • Europe
    • UK
    • Israel-Hamas
    • Russia-Ukraine
  • Politics
  • Crime
  • Lifestyle
  • Sports
  • Column
  • Interviews
  • Special Report
No Result
View All Result
Time Africa Magazine
  • Home
  • Magazine
  • WHO’SWHO AWARDS
  • News
  • World News
    • US
    • UAE
    • Europe
    • UK
    • Israel-Hamas
    • Russia-Ukraine
  • Politics
  • Crime
  • Lifestyle
  • Sports
  • Column
  • Interviews
  • Special Report
No Result
View All Result
Time Africa Magazine
No Result
View All Result
  • Home
  • WHO’SWHO AWARDS
  • News
  • Magazine
  • World News

Home » News » Joe Biden pledges to make Kenya investment magnet in Africa

Joe Biden pledges to make Kenya investment magnet in Africa

October 30, 2023
in News
0
Joe Biden

Joe Biden

540
SHARES
4.5k
VIEWS
Share on FacebookShare on Twitter

The Biden administration has pledged to improve Kenya’s investment climate to levels that will act as a model for other African countries under the ongoing bilateral trade negotiations.

Constance Hamilton, the Assistant US Trade Representative for Africa and the lead negotiator in the talks, said the negotiations will make Nairobi a magnet for multinational companies which will create decent jobs for millions of Kenya’s skilled jobless youth.

The two countries are locked in negotiations under the US-Kenya Strategic Trade and Investment Partnership (STIP) whose terms they started stitching together in July 2022 before the end of former President Uhuru Kenyatta’s term in office.

“The STIP is actually a way Kenya will undertake, and we, together we’ll undertake additional commitments that we believe will improve Kenya’s investment climate and environment, and that at the end of the day, Kenya will be in a better place to attract the kind of investment for the kind of job growth that they’re looking for,” Ms Hamilton told a digital press conference ahead of the African Growth and Opportunity Act Forum in Johannesburg later this week.

“When we launched this [STIP] under the previous administration and under the current administration, the guidance we got is that it has to work.”

ReadAlso

Trump eyes mineral wealth as Rwanda and DRC sign controversial peace deal in US

We won’t let them get away with this’: Activists to sue Tanzania’s government over ‘sexual torture’

Kenya has long sought a full free trade agreement with the US to replace the two-decade-old Agoa deal, but progress has been dragged by regime change in both countries.

The Agoa pact, first enacted in 2000 before renewal for 10 years in June 2015, allows duty- and quota-free access to the US for thousands of products such as food and beverages, wood, plastics and rubber from sub-Saharan Africa, but Kenya has largely tapped the apparel line.

ADVERTISEMENT

Ms Hamilton maintained that the STIP will not graduate Kenya out of Agoa that the US Trade Representative was keen to renew upon expiry mid-2025 subject to approval by lawmakers – the Congress.

“The lessons learned from 25 years of Agoa is that we have to do better,” she said, citing the findings of the US International Trade Commission earlier in the year.

“We do believe that not addressing and not trying to change the programme and make it better is a wasted opportunity. So at USTR, we do support renewal of Agoa, but we do think that there are things that can be done to make the programme more impactful, and we hope that Congress will take a look at those things.”

This has come at a time when US manufacturers operating in China are escalating decade-long plans to relocate production lines after being rattled by recent supply chain disruptions due to the Covid-19 curbs amid elevated trade tensions between the two world’s largest economies.

The rising cost of wages and on-and-off trade tiffs between Washington and Beijing have seen US manufacturers in labour-intensive sectors such as textiles and furniture migrate production to other countries such as Indonesia and Bangladesh over the last decade.

“What we do has to work for Kenya before we say that this is something that we will replicate someplace else. We have to make sure we get it right,” the top US trade envoy for Africa said. “But I’m very excited about the progress that we’re making.”

During the first negotiating round of the proposed trade deal in Nairobi between April 17 and 20, the US negotiators asked Kenya to improve transparency and fairness of processes for licensing American service suppliers such as accountants, lawyers, engineers, and architects.

The US proposal to Kenya is in line with the World Trade Organisation’s Joint Statement Initiative on Services Domestic Regulation which was signed by 70 countries in December 2021.

The outcome on WTO’s initiative on trade in services whose development started in 2017 was largely supported by developed economies, with Nigeria the notable sub-Sahara country to have endorsed it.

The WTO initiative applies to licensing requirements and procedures, qualification requirements and procedures, as well as technical standards affecting trade in services.

US Ambassador Meg Whitman has in the past said Kenya— a gateway into the East African region— is increasingly positioning Nairobi as “the premier destination” for technology and innovation investments on the continent.

“It’s an exciting time to be doing business in the region, creating more jobs and promoting US-Kenya shared prosperity,” Ms Whitman told the two-day American Chamber of Commerce (AmCham) Business Summit in March.

“We feel Kenya is ready for export liftoff as it diversifies.”

Tags: AfricainvestmentJoe Biden
ADVERTISEMENT
Previous Post

Twice impeached Governor Kawira Mwangaza faces fight for political career

Next Post

FIFA bans disgraced Spain football president over kissing, grabbing crotch

You MayAlso Like

News

World leaders confront gap between rich and poor at Financing for Development meeting

June 30, 2025
News

House Committee Issues 48-Hour Ultimatum to Rivers State Sole Administrator Over N24 Billion CCTV Controversy

June 30, 2025
News

Funeral held for woman kept on life support until baby could be delivered

June 30, 2025
News

Trump eyes mineral wealth as Rwanda and DRC sign controversial peace deal in US

June 29, 2025
News

Ivory Coast’s former president Laurent Gbagbo, prime minister barred from upcoming elections

June 29, 2025
News

₦31 Trillion Vanished Into Thin Air – Oshiomhole Slams Buhari’s Fiscal Legacy

June 29, 2025
Next Post

FIFA bans disgraced Spain football president over kissing, grabbing crotch

Girls in Africa quitting school over cost of living crisis

Discussion about this post

Finally, Tinubu Reconciles Wike, Fubara

I Breastfed My Husband After Giving Birth, It Helped Us Bond — Mother Of Three

Wike, Fubara Agree On Peace Deal With Tinubu

Goodluck Jonathan Unveils Shocking Truths Behind Nigeria’s Constitutional Crisis During Umaru Musa Yar’Adua’s Prolonged Illness

Political Power Play: Atiku Abubakar Stripped of Waziri Adamawa Title

Are Igbos Cursed Or The Architects Of Their Own Predicament?

  • British government apologizes to Peter Obi, as hired impostors, master manipulators on rampage abroad

    1238 shares
    Share 495 Tweet 310
  • Maids trafficked and sold to wealthy Saudis on black market

    1063 shares
    Share 425 Tweet 266
  • Flight Attendant Sees Late Husband On Plane

    966 shares
    Share 386 Tweet 242
  • ‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

    901 shares
    Share 360 Tweet 225
  • Crisis echoes, fears grow in Amechi Awkunanaw in Enugu State

    735 shares
    Share 294 Tweet 184
  • Trending
  • Comments
  • Latest

British government apologizes to Peter Obi, as hired impostors, master manipulators on rampage abroad

April 13, 2023

Maids trafficked and sold to wealthy Saudis on black market

December 27, 2022
Flight Attendant Sees Late Husband On Plane

Flight Attendant Sees Late Husband On Plane

September 22, 2023
‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

March 21, 2023
Chief Mrs Ebelechukwu, wife of Willie Obiano, former governor of Anambra state

NIGERIA: No, wife of Biafran warlord, Bianca Ojukwu lied – Ebele Obiano:

0

SOUTH AFRICA: TO LEAVE OR NOT TO LEAVE?

0
kelechi iheanacho

TOP SCORER: IHEANACHA

0
Goodluck Ebele Jonathan

WHAT CAN’TBE TAKEN AWAY FROM JONATHAN

0

World leaders confront gap between rich and poor at Financing for Development meeting

June 30, 2025

House Committee Issues 48-Hour Ultimatum to Rivers State Sole Administrator Over N24 Billion CCTV Controversy

June 30, 2025

AI doctor four times better at identifying illnesses than humans

June 30, 2025
Scene of the collision between two aircraft. Photo: H. Anh

Two planes collide on airport runway

June 30, 2025

ABOUT US

Time Africa Magazine

TIME AFRICA MAGAZINE is an African Magazine with a culture of excellence; a magazine without peer. Nearly a third of its readers hold advanced degrees and include novelists, … READ MORE >>

SECTIONS

  • Aviation
  • Column
  • Crime
  • Europe
  • Featured
  • Gallery
  • Health
  • Interviews
  • Israel-Hamas
  • Lifestyle
  • Magazine
  • Middle-East
  • News
  • Politics
  • Press Release
  • Russia-Ukraine
  • Science
  • Special Report
  • Sports
  • TV/Radio
  • UAE
  • UK
  • US
  • World News

Useful Links

  • AllAfrica
  • Channel Africa
  • El Khabar
  • The Guardian
  • Cairo Live
  • Le Republicain
  • Magazine: 9771144975608
  • Subscribe to TIME AFRICA biweekly news magazine

    Enjoy handpicked stories from around African continent,
    delivered anywhere in the world

    Subscribe

    • About Time Africa Magazine
    • Privacy Policy
    • Contact Us
    • WHO’SWHO AWARDS

    © 2025 Time Africa Magazine - All Right Reserved. Time Africa is a trademark of Times Associates, registered in the U.S, & Nigeria. Use of this site constitutes acceptance of our Terms of Service.

    No Result
    View All Result
    • WHO’SWHO AWARDS
    • Politics
    • Column
    • Interviews
    • Gallery
    • Lifestyle
    • Special Report
    • Sports
    • TV/Radio
    • Aviation
    • Health
    • Science
    • World News

    © 2025 Time Africa Magazine - All Right Reserved. Time Africa is a trademark of Times Associates, registered in the U.S, & Nigeria. Use of this site constitutes acceptance of our Terms of Service.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.