It will assist Singapore firms’ businesses in sectors like fintech, e-commerce, and logistics.
Enterprise Singapore (ESG) opened its third overseas office in Nairobi, Kenya to facilitate Singapore companies’ entry into East Africa and boost two-way trade and investment flows.
According to an announcement, ESG has identified key growth sectors in East Africa such as fintech, e-commerce, logistics, light manufacturing, urban solutions, and energy, where Singapore companies can contribute.
The office will complement ESG’s existing offices in Johannesburg (South Africa) and Accra (Ghana).
Over 60 Singapore companies operate in Africa across more than 50 countries, indicating that interest from Singapore companies is growing, ESG assistant CEO Yew Sung Pei said.
“Our new office in Nairobi will actively identify opportunities for Singapore companies, broaden our networks, and strengthen the Singapore brand in the fast-growing region,” he added.
Separately, the two countries signed a Bilateral Investment Treaty (BIT) and Avoidance of Double Taxation Agreement (DTA). On 14 June 2018, Singapore is expected to sign a BIT and an Air Services Agreement (ASA) with Rwanda.
Moreover, six memoranda of understanding (MOU) were exchanged today between Singapore and Kenyan partners covering corporate governance, e-payment, and trade facilitation.
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