Through an initiative called TradeConnect, Kenyan MSMEs have exported their first assortment of goods to South Sudan, Zambia, and the Democratic Republic of the Congo under the framework of the African Continental Free Trade Area (AfCFTA).
The project intends to mobilize and move 1000 containers of various goods valued at $1.2 million throughout the continent over the course of the following 12 months.
The government anticipates that the TradeConnect initiative will increase Kenya’s exports by 10% a year and reduce the logistical burden on exporters by 30%.
Several stakeholders, including the Ministry of Cooperatives and Micro, Small, and Medium Enterprises Development, TradeMark Africa (TMA), UBA Bank, KNCCI, MSEA, and the AfCFTA Secretariat, are working together on the project.
In 2023, Kenya’s main exports to Zambia were manufactured tobacco and manufactured tobacco substitutes, making up USD 70.0 million of total export value. 10.6% of Kenya’s exports to the nation were made up of this. Margarine, other edible mixtures (9.5%), and medications for preventative or therapeutic purposes (6.8%) are additional important export goods.
From USD 239.4 million in 2014 to USD 132.0 billion in 2019, Kenya’s exports to the DRC Congo have been declining. In 2020 and 2023, export values increased from USD 134.4 million to USD 189.9 million.
Kenya’s imports from the Democratic Republic of the Congo, however, have been rising, rising from USD 3.0 million in 2014 to USD 22.3 million in 2023. Kenya averaged USD 181.1 million in exports to DRC Congo and USD 15.5 million in imports from DRC Congo between 2014 and 2023.
Over the course of the last ten years, the trade balance between Kenya and the two nations has widened in favour of Kenya, peaking at USD 236.4 million in 2014 and falling to USD 108.5 million in 2020.
“For the Kenya Export Promotion and Branding Agency, TradeConnect Initiative aligns well with our mission to “Brand Kenya, Export Kenyan, Build Kenya.” Through the Made In Kenya mark, we are elevating the quality, authenticity, and uniqueness of Kenyan products,” says Floice Mukabana, CEO, Kenya Export Promotion and Branding Agency.
