PRESS RELEASE
FOR IMMEDIATE RELEASE
EAST AFRICAN SMEs teaming up to enter New Markets
·
EABC in partnership with the Federation
of German Industries (BDI) create partnerships between SMEs from the region and
abroad
Arusha, Tanzania 11th
August 2019: Knowledge and networks are key to tap
the potential of the East African and wider African market.
The EABC 20th Annual General was followed by a Get together - B2B Match
Making and networking event for East African SMEs under the Project “Creating
Perspectives: Business for Development (East Africa)” on held on 8th
August 2019 in Nairobi, Kenya. The Chief Guest at the Get-together event was
Dr. Vimal Shah, EABC Chairman Emeritus and H.E Annett Gunther, German
Ambassador to the Republic of Kenya who shared insights on SME development and
strengthening the manufacturing sector in EAC.
In his remarks, Dr. Vimal Shah
urged businesses to embrace technology and spearhead the vision of a borderless
East Africa for trade and investment.
With
support from German Development Cooperation under “Creating Perspectives:
Business for Development, East Africa” the EABC engages 74 enterprises from the
manufacturing sector on management training and business matching to upscale
their market outreach. The manufacturing sector is key for all the six East
African Partner States for job creation and diversifying their economies.
Therefore, EABC through its partnership with the Federation of German
Industries (BDI) is encouraging SMEs to form new networks and learn from peer-groups
how to operate successfully industries in the East African region.
In his
remarks at the Get-together event, EABC´s CEO Hon. Peter Mathuki
said "SMEs are the backbone of the economy not only in East Africa but
also in Germany where 80% of employment is attached to SMEs.”
The
event offered the opportunity for enterprises benefitting from the project in
Kenya to network with corporates from the region and to discuss the
business environment in East Africa.
For
German Cooperation mingling enterprises from different regions and applying
capacity building helps to increase partnerships within a sector and understand
the advantages of an integrated East African market.
Support
to SMEs is crucial since compared to large companies or even multinationals
they face many challenges due to limited No. of staff, financial resources and
the nature of corporate governance, e.g. family-owned, etc. The project offers
management training and coaching of selected SMEs mentoring where business
interests and “chemistry” between African and German entrepreneurs fit.
The
EABC as the voice of the private sector in the region provides policy support
through advocating for a conducive business environment, for instance, fair
customs and tax systems, elimination of Non-Tariff barriers and harmonization
of standards.
“Creating
Perspectives: Business for Development, East Africa” project is a joint
initiative by the Federal German Ministry for Cooperation and Development
(BMZ), the Federation of German Industry (BDI), the East African Business
Council (EABC) and the EAC Secretariat.
About
the East African Business Council (EABC)
– The East
African Business Council (EABC) is the
regional apex body of private sector associations and corporates in East Africa
with a single purpose of driving the East African Community (EAC) integration
process through trade and investment. To achieve this EABC works with the public sector, EAC institutions, the academia and the business community to unlock the
economic potential through increased access to markets, enhanced trade
environment and improved business competitiveness.
For
more information, please visit: http://eabc-online.com
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