Kenyan President William Ruto addressed leading U.S. technology companies and investors Friday at a U.S.-Kenya Business Roadshow in San Francisco organized by the U.S. Government’s Prosper Africa initiative and the U.S. Embassy in Kenya.
The roadshow highlighted the business and investment potential in Kenya’s booming tech sector. Participating U.S. companies included Microsoft, Cisco, IBM, Kyosk, SunCulture, and more.
Dubbed the Silicon Savannah, Kenya has built a bustling tech sector and has the opportunity to position itself as the premier destination for tech sector investment and innovation in Africa. The technology ecosystem in Kenya is already thriving, with one of the highest rates of venture capital investment on the continent. While venture capital flows decreased by 35 percent globally last year, total funding in Africa increased by 8 percent. In Kenya, investment increased by 33 percent, one of the highest growth rates on the continent.
The U.S. roadshow launched on April 25 in New York City with a focus on the apparel sector, then traveled to Chicago on September 13 to highlight agri-business, and concluded this week in San Francisco. Each stop featured a mix of panel discussions, business matchmaking, and networking.