East Africa’s foray into the East for development partnerships is being countered by Americans companies that now seek partnerships in the region. During a business-to-business networking forum held in Nairobi on February 26, representatives of 20 American firms met some 70 private sector executives from the five east African partner states to discuss potential partnerships. The American trade delegation, which was on a visit to Kenya and Ethiopia, showed interest in forging partnerships in the areas of communications, transport, road and rail, banking, agri-business, energy, construction, and maritime construction.
East African Business Council (EABC) Chair Vimal Shah, said that the meeting was the result of collaboration agreements between EABC and Corporate Council of Africa (CCA) as part a memorandum of understanding (MoU) signed between the two organisations last year. “Both EABC and CCA recognise the importance of facilitating and promoting private sector development in EAC partner states and the US, advocating for a predictable business climate between the above two regions, advancing private sector priorities and promoting mutually beneficial partnerships,” said Shah.
You’ve no doubt heard of the BRICS countries, the emerging market quintet comprised of Brazil, Russia, India, China, and South Africa.
Now, in an excellent post published on Seeking Alpha, Belgrad Kenne, Founder and Director of equity research firm, Phase One Associates, has coined a new acronym that captures the dynamism of Sub-Saharan Africa’s frontier economies – the KINGs (Kenya, Ivory Coast, Nigeria, and Ghana).
The Seeking Alpha article lays out the rationale behind the grouping, but I asked Belgrad to give us a bit more insight into the KINGs’ stock market performance over the past five years. He graciously agreed and also shared his thoughts as to why he believes these markets make for a compelling investment opportunity.
His analysis follows.