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Singapore Opens Regional Office in Nairobi as it Ventures in East Africa

BY Soko Directory Team · June 14, 2018 08:06 am

Enterprise Singapore (ESG), the Singapore government agency promoting the growth of Singapore’s overseas investments and trade has announced the opening of its Nairobi Overseas Centre.

This is Enterprise Singapore’s third office in Africa, which will serve as its regional hub for East Africa.

It complements Enterprise Singapore’s existing regional hubs in Johannesburg and Accra. Enterprise Singapore’s Nairobi Overseas Centre will facilitate Singapore companies’ investments in Kenya and East Africa, and promote partnerships between Singapore and East African companies.

Enterprise Singapore’s Assistant Chief Executive Officer Mr. Yew Sung Pei noted that East Africa houses some of the fastest-growing economies in the continent. He added that Enterprise Singapore sees great potential for Singapore companies to offer their knowledge and expertise across areas such as infrastructure development and manufacturing, which are key priorities in this region.

“Kenya, with its stable growth and business-friendly environment, is the gateway to East Africa and we are positive that our office here will broaden our network of East African partners and strengthen the Singapore brand in the region,” said Mr. Yew Sung Pei.

Currently, there are over 60 Singapore companies operating in Africa, across more than 50 countries, with US$19 billion invested in the continent. At the opening today, seven Memoranda of Understanding (MOUs) were signed between Singapore and Kenyan companies across corporate governance, e-payment, trade facilitation and natural resources.

In addition, the Nairobi Overseas Centre will allow Kenyan and African companies, including Small and Medium Sized Companies, to leverage Singapore as a gateway to capture growth opportunities in Asia.

Strategically located at the heart of Asia, Singapore is in the middle of key trade flows from Europe, the United States, the Middle East, Australia and Asia, hence making a good springboard for African enterprises seeking growth in Asia.

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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