This archive report was first published on 21 September 2019.
On September 21, 2019, President Uhuru Kenyatta addressed the Singapore Summit 2019, calling on Asian economies to use Kenya as a gateway to Africa's market of over 1.2 billion people, worth more than $29 trillion.
Kenya, according to President Kenyatta, is the best entry point for Asian businesses looking to trade in Africa, thanks to the African Continental Free Trade Area (AfCTA) that has come into force.
"I invite you to use Kenya as a gateway to the African continent. It is not only one of the top-ten fastest-growing economies in Africa but is also one of the most pro-business nations on the continent," said President Kenyatta.
Kenya has made significant improvements in the World Bank's Ease-of-Doing-Business index, jumping 107 places since 2012 to its current position of number 61 globally and third in Africa.
The country is also a leader in ICT and technology penetration, FinTech, and Financial Inclusion, with mobile phone subscriptions standing at 95% of its population of over 45 million.
Kenya has leveraged its strength in ICT and mobile cellular subscription to become the global leader in mobile money and mobile banking, with its world-famous M-Pesa mobile money platform promoting financial inclusion and providing a template for reaching conventionally unbanked populations across the region.
President Kenyatta urged Asian investors to seek partnerships to access the vibrant Kenyan market and the wider continental market, suggesting several crucial steps to build a strong foundation for the partnership between Singapore and Kenya, as well as between the Asian and African continents.
