Singapore Business Federation, Enterprise Singapore lead business mission to East Africa

THE Singapore Business Federation (SBF) and Enterprise Singapore (ESG) are setting off on Monday evening for a business mission to East Africa till June 16, in conjunction with Deputy Prime Minister Tharman Shanmugaratnam's official visit to Kenya and Rwanda.

This is the SBF's Africa Business Group's fourth business mission to Kenya and its third visit to Rwanda. The delegation will visit both countries' capitals, meeting high-level government officials as well as the region's largest conglomerates.

Highlights include the launch of ESG's Nairobi Overseas Centre on June 13 in the Kenyan capital, as well as meetings with local companies, government ministries and project financiers. Delegates will also meet members of the Kenya Chinese Chamber of Commerce (KCCC), a trade lobby for the local Chinese business community. China is the country's largest investor, in part due to Kenya's involvement in China's Belt and Road initiative.

The 35-member business and government delegation comprises representatives from 20 companies and organisations, in sectors such as info-communications technology, real estate and hospitality, construction and infrastructure-related services, shipping and logistics, agriculture and agribusiness, education, fintech solutions, manufacturing, fast-moving consumer goods and general trade sectors.

The East Africa region's GDP growth of 5.9 per cent in 2017 was the best on the continent and above the average of 3.6 per cent, led by Kenya, Rwanda and Ethiopia and driven by private consumption and investment, as well as growth in light manufacturing and agriculture.

SBF chairman S S Teo, who is leading the Kenya segment of the mission, said: "There is often the misperception of Africa being a big boy's market, when in reality it is more SME-friendly. It is a huge market that offers an array of opportunities across various sectors and in varying sizes, which makes it ideal for SME entrants, given their more nimble structures."

Mr Teo, who is executive chairman and managing director of Pacific International Lines, added: "The Federation has seen Singapore SMEs successfully dabble across multiple sectors in these markets, due to the lower competition and barriers to entry."

Leading the Rwanda segment is Eugene Wong, chairman of digital consultancy CrimsonLogic, who said: "The Singapore brand of good quality, reliability and integrity is much welcomed in Africa."

CrimsonLogic has been in Africa since 1994, with its business having "taken off" over the past five years and its Rwanda office opening this month, he added.

Mr Wong noted digital solutions, consumer products and logistics and supply chain as areas where Singapore companies can partner with African ones.