The United Kingdom held the first-ever East Africa Trade and Investment Forum (EATIF), which brings together businesses and governments from Kenya, Uganda, and Tanzania to engage directly with British businesses.
Organised by DMA Invest and the East Africa Association in partnership with the UK Government, EATIF is focused on deepening economic collaboration on trade finance, infrastructure, and sustainability.
The forum kicked off on Wednesday, May 21, with Principal Secretary, State Department for Investment Promotion, Abubakar Hassan Abubakar, present to represent Kenya.
Notably, during the forum, two major investments were announced by the UK to support East Africa’s economic growth.
British International Investment (BII) and Standard Chartered Bank revealed a $100 million trade finance facility targeting Kenya and Tanzania.
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The facility is designed to de-risk both cross-border and local trade, making financing more accessible to businesses and increasing the flow of essential goods and services in the region.
The investment is expected to support female-led enterprises and enhance employment and leadership opportunities for women.
It is projected to finance more than $450 million in trade volumes throughout its lifespan.
Additionally, BII announced a $5 million investment in Kenya’s electric mobility sector to support the rollout of 5,000 electric motorbikes, replacing petrol-powered motorcycles with sustainable alternatives.
“BII is proud to announce these two investments today at the EATIF, demonstrating our commitment to fostering economic growth in East Africa. By making trade finance more accessible and backing innovative infrastructure projects like electric motorbikes, we are addressing critical needs in the region.
"We’re not only supporting businesses that are the backbone of these economies, but also driving inclusive and sustainable growth, contributing to a more resilient and prosperous East African region,” said Chris Chijiutomi, Managing Director and Head of Africa at BII.
UK Minister for Africa Lord Collins, who represented the British Government at the summit, highlighted the UK’s long-standing partnership with East Africa.
"The UK is a long-term partner for long-term investment in East Africa. This forum will showcase the best of East African business to British business and lay a pipeline of private sector investment between them.
"This, combined with much-needed improvements to regulations and resilience, will lead to jobs and mutual growth in the future. We go far when we go together,” he stated.
Kenya’s Principal Secretary of the State Department for Investment Promotion, Abubakar Hassan Abubakar, also highlighted Kenya’s strategic position in Africa’s investment landscape.
"Kenya provides Africa’s leading value proposition for private capital, with a great portfolio of opportunities in key sectors. We are proud to be part of the UK EATIF and welcome the regional focus that fosters economic integration,” he said.
