North Africa: Ethiopia Gateway for Kenya to Broader North Africa, Says CEO of Kenya Assn. of Manufacturers

Addis Ababa, — Ethiopia’s ability to plug into African Continental Free Trade Area (AfCFTA) positions it a gateway for Kenya to the broader North Africa, Kenya Association of Manufacturers (KAM) CEO Tobias Alando said.

Addressing the Ethio-Kenya Business Conference held in Addis Ababa today, Alando said Kenya and Ethiopia “can work jointly to even access other countries around us. So, this collaboration will benefit both countries.”

The CEO added that Kenya is proud to associate with businessmen and women of Ethiopia, stating his belief that Ethiopians are also proud to associate with Kenyan businessmen and women.

Addis Ababa Chamber of Commerce and Sectoral Associations Acting Secretary General, Zekarias Assefa, said Ethiopia and Kenya have sustained long years of diplomatic relations dating back to the early 20th century.

The diplomatic ties of the two nations have resulted in fostering bilateral trade and investment ties in areas of agriculture, tourism and other sectors of the economy.

He pointed out that various institutions of the two countries are at present exerting efforts to promote economic and social development.

Kenya’s Ambassador to Ethiopia, George Orina, said the Ethiopian market has undergone significant changes recently.

The opportunities here are abundant, he noted, adding that the National Bank of Ethiopia has for instance introduced reforms in the foreign exchange regime in July 2024 to allow banks and investors to buy and sell foreign currency.

On his part, Yohannes Fanta, Director-General at Ministry of Foreign Affairs, said Ethiopia and Kenya have enjoyed a long standing and exceptional partnership founded on the principles of mutual respect, consistency, and understanding.

“Given the enormous potential offered by our two countries, there is a huge trade and investment opportunity for our people to cooperate and work closely.”

The Ethio-Kenya Business Conference was organized by Addis Ababa Chamber of Commerce and Sectoral Associations and Kenya Association of Manufacturers.