In Nairobi, the Inspire & Connect event, organized by Bpifrance, the French public investment bank, was held on Friday November 2024. The day brought together several hundred African and French investors and economic decision-makers. This with the aim of developing partnerships between entrepreneurs from the two countries and encouraging French companies to establish themselves in the region.
From our correspondent in Nairobi,
In Nairobi, between discussion panels and thematic workshops, participants exchange and meet. A delegation of eight French companies is at Kenya for the occasion. Among them, Matières, specialized in the manufacturing and design of modular metal bridges. It is already present in West and Central Africa. Vincent Lerond, his sector manager, came to Nairobi with an ambition: “ Trying to land a slightly larger deal with what we call a deck lot. Rather than delivering a single bridge, it is setting up a project with the Kenyan authorities with a set of bridges. So, we are indeed interested in developing in East Africa. And Kenya is really a good gateway for countries like Tanzania and Uganda. »
Already in 2020, French President Emmanuel Macron called on French companies to establish themselves in Kenya. Interest is growing, there are now 140 in the country, compared to 35 in 2012. In a wide variety of sectors: energy, mass distribution and even agriculture.
Also readKenya: in Nairobi, operation to seduce French companies
« Exceptional market depths » in East Africa
For Yves Battesti, head of East Africa for Bpifrance, the opportunities in the region are still too little known. “ It is true that, when we discuss with French companies that Bpifrance accompanies, every year in France, those who are exporters in Africa are especially used to prospecting West African geographies. And this probably relates to the ease of market access for these French companies, due to linguistic proximity, the currency also naturally and a whole set of factors. What we identified several months ago in East Africa is that there are market depths that are just as exceptional, adds Yves Battesti. When we look at the consolidated growth rates of all East African countries, it is higher than the consolidated growth rate of sub-Saharan Africa as a whole. This growth creates market opportunities for Kenyan companies, French companies. »
Fund local industries
Opportunities in the fields of tech, energy and transport in particular. James Mwangi, managing director of the Kenyan bank Equity Bank, also sees it as an asset for local industries. “ For 60 years, Africa has mainly exported raw materials. Why wouldn’t we use French technology, knowledge and capital to add value to African products? Whether it’s tea, coffee or cocoa. »
A memorandum of understanding has just been signed between Bpifrance and Equity Bank to co-finance partnerships between companies in the two countries.
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