NAIROBI, Kenya, Feb 27 – TradeMark Africa (TMA), the world’s leading aid-to-trade organization, has raised Sh3.3 billion (€25 million) to boost exports.
The five-year Business Environment and Export Enhancement Programme (BEEEP) will also reduce the carbon footprint of exports while creating a conducive environment for exporters.
The funding agreement was signed by European Union (EU) Ambassador to Kenya Henriette Geiger and TMA’s Chief Executive Officer David Beer in the presence of Kenya’s Cabinet Secretary for Investments, Trade, and Industry Moses Kuria during the #EUKenyaBusinessForum that took place in Nairobi last week.
“With BEEEP, everything comes together, the private sector, the government, and financing institutions. We are happy to support the Kenyan Government in achieving a sustainable growth of its exports, including greening of transport and logistics. BEEEP aligns fully with our Global Gateway Strategy,” EU ambassador said.
“The EU’s support to creating a more conducive business environment both at national and county level will make Kenya an even more attractive destination for investments.”
On February 6, Trademark unveiled a Sh38 million modern market in Busia that will be opened in two weeks, offering a boost to local traders.
TMEA officials over the weekend inspected the facility in preparation for its opening at the border town.
The market, which is 99 percent complete, will house 160 traders from Uganda and Kenya.
TMA, formerly TradeMark East Africa, is an Aid-for-Trade organisation that was established in 2010, with the aim of growing prosperity through increased trade.
It operates on a not-for-profit basis and is funded by: Belgium, the Bill and Melinda Gates Foundation, Canada, Denmark, the European Union, Finland, France, Ireland, the Netherlands, Norway, the United Kingdom and the United States of America.
Some of the regional intergovernmental organisations that it works with closely include the African Union (AU) and the African Continental Free Trade Area (AfCFTA) Secretariat, among others.
