Vivo Fashion, Wazawazi Founders to Front Kenya's Sh32 Trillion Investment Pitch in the US

Kenya is gearing up for an ambitious investment drive during President William Ruto's forthcoming state visit to the United States.

The East African nation aims to secure commitments totalling an impressive $250 billion (approximately Sh32.56 trillion) across diverse sectors. This affirms its concerted efforts to foster economic growth and attract foreign direct investments (FDI). At the forefront of this endeavour are two prominent Kenyan entrepreneurs, Wandia Gichuru and Chebet Mutai, founders of the renowned Vivo Fashion Group and Wazawazi, respectively. Their businesses exemplify Kenya's burgeoning prowess in the fashion industry, which is poised to take centre stage during this investment pitch.

Vivo Fashion Group, a leading retail fashion enterprise, is set to expand its footprint into the US market with the inaugural opening of a store in May. Concurrently, Wazawazi, a Denver-based leather bag-making store, serves as a testament to the nation's captivating artisanal craftsmanship. The investment drive, scheduled to take place during President Ruto's visit to Atlanta, Georgia, from May 19 to May 26, aims to secure deals for more than 30 bankable projects. Cabinet Secretary Rebecca Miano has voiced the strategic importance of promoting Kenyan goods and services to enhance the country's attractiveness for FDI from the US.

The textile industry, in particular, has witnessed remarkable growth, with American brands like Calvin Klein and Tommy Hilfiger contributing to employment opportunities for Kenyan youth through the Export Processing Zones (EPZ). Kenya's investment pitch will span a diverse range of sectors, including agriculture, manufacturing, infrastructure, and technology. Leveraging its youthful population and vibrant entrepreneurial ecosystem, the nation seeks to attract foreign investment and drive sustainable economic growth. According to Miano, the Kenyan delegation will present investment opportunities worth over $20.5 billion, aligning with the nation's Bottom-Up Economic Transformation Agenda (BETA).

President Ruto's visit is expected to strengthen bilateral ties between Kenya and the United States. This is poised to foster mutually beneficial partnerships that contribute to job creation, technology transfer, and sustainable development. Additionally, discussions between President Ruto and US President Joe Biden may address the ongoing unrest and gang violence in Haiti, where Kenya's intervention plays a crucial role.