Australia agency eyes Kenya trade

The Australian government through its trade agency has contracted the services Iron Capital, an Africa-focused financial and investment advisory firm, to hunt for business investment opportunities in Kenya in the post-Covid-19 period.

Iron Capital said in a statement last week the Australia Trade and Investment Commission (Austrade) had tasked it to research on opportunities and logistics necessary to ensure smooth investment once the world contains the Covid-19 pandemic.

Other African markets that Australia Austrade is eyeing include Nigeria, Ghana and Zambia.

For Kenya, Austrade is keen on mining, oil and gas, agribusiness, education, renewable energy, technology, healthcare and food and beverages, the firm said, adding that the agency had set up a fund to finance partnerships and mergers in East Africa.

Most of the Australian firms eyeing investments in East Africa are mainly exporters seeking to establish their bases in foreign markets.

“Africa is the future of growth, and that is why most multinationals are making inroads to tap on the emerging business opportunities,” said Iron Capital chief executive Jubril Enakele.