A delegation of investors from Estonia, drawn from the technology sector, On Tuesday, met with their Kenyan counterparts in Nairobi to network and explore investment opportunities in the ICT sector in the two countries.
The meeting is part of a three-day roadshow organized by the Estonian Business and Innovation Agency to support the internationalization of companies by identifying opportunities and helping enterprises in both countries to develop export competencies and capacities.
During the roadshow, the Estonian delegation will meet with Kenya’s Ministry of Information, Communication, and the Digital Economy, the Data Protection Office, and two technology companies, Safaricom and Cellulant.
Kadri Humal-Ayal, Estonian Honorary Consul in Kenya, touted Estonia as a favourable country for foreign investments, saying “Estonia has no legacy businesses. This makes it easier for investors to reach decision-makers.” She added that there was a need for Kenya and Estonia to diversify their trade beyond agricultural products.
Eva-Kristiina Ponomarjov, EAS, Enterprise Estonia, praised the roadshow, saying it provides an opportunity for Kenyans to know what Estonia’s ICT sector can offer to East Africa’s leading economy.
In 2022, Estonia’s exports to Kenya amounted to $1.32 million, making it the 106th largest export partner in the world. Most recently, exports included uncoated kraft paper, worn clothing, and clothing accessories. On the other hand, Kenya’s exports to Estonia are primarily agricultural products such as cut paper, live plants, and fishing gear.
Estonia is considered one of the most advanced digital societies on the planet, with 99 per cent of its public services available online, 96 per cent of taxes declared online, and 99.6 per cent of banking transactions taking place online. The country, which has a population of 1.3 million, is home to 10 unicorns, including the communication platform, Skype, the ride-hailing company, Bolt, the gambling software Playtech, and the money transfer service TransferWise among others.