NAIROBI, Kenya, Aug 18 — Kenya’s private sector is calling for stronger trust between businesses, government and citizens, arguing that confidence in institutions is critical to investment, trade and economic growth.
The call was made during a private sector roundtable held ahead of the inaugural Trust Summit scheduled for Nairobi in October.
The discussions focused on how trust can influence investment decisions, access to finance, regional trade, digital commerce and the resilience of businesses during periods of economic uncertainty.
Mustafa Ibrahim, Deputy Director-General and Head of the Policy, Research and Strategic Analysis Directorate at the State Department for Foreign Affairs, said trust affects investment, business confidence and Kenya’s competitiveness.
“We meet at a time of considerable headwinds in the global economy. Confidence in institutions has come under strain, economic uncertainty has risen, geopolitical tensions persist, and rapid technological change is reshaping how governments, businesses and citizens interact,” Ibrahim said.
University of Nairobi Faculty of Business and Management Science lecturer Prof XN Iraki said low levels of trust increase the cost of doing business by forcing companies to spend more on contracts, audits and security.
“When trust breaks down, everyone pays for it: higher interest rates, more red tape, slower growth,” Iraki said.
Mathias Kamp, Country Director of the Konrad-Adenauer-Stiftung Kenya Office and co-convener of the Trust Summit, said investment in infrastructure alone cannot deliver economic growth without trusted institutions and businesses.
“Trust is a prerequisite for investment and economic growth. You can invest heavily in infrastructure, but if the institutions and businesses operating within it are not trusted, the infrastructure alone will not deliver the outcomes we expect,” he said.
Lucy Muchoki, Partnership Director at the Kenya National Chamber of Commerce and Industry (KNCCI), said businesses should now focus on practical measures to strengthen trust rather than simply acknowledging its importance.
“Trust is not simply about reputation; it has direct economic value. Let us move beyond simply agreeing that trust matters,” Muchoki said.
The roundtable was organised in partnership with the Kenya Private Sector Alliance (KEPSA), Konrad-Adenauer-Stiftung, the Institute of Public Finance, KNCCI, TradeMark Africa and the COMESA Business Council.
The Trust Summit, scheduled for October 21-23 in Nairobi, is expected to bring together government officials, businesses, academics, civil society, media and young people to discuss trust in governance, the economy, international cooperation and the digital space.
Organisers plan to produce a Nairobi Statement on Global Trust, a Trust Barometer, a report on Africa’s trust landscape and policy recommendations with specific commitments and accountability measures.
The summit will also establish mechanisms to track progress on commitments made during the meeting.
