New york: Kenya Private Sector Alliance (KEPSA) is actively seeking the renewal of the African Growth and Opportunity Act (AGOA) agreement as global leaders assemble at the 80th UN General Assembly in New York, United States.
According to Kenya News Agency, KEPSA, in collaboration with the Corporate Council on Africa (CCA), Kenya Investment Authority (KenInvest), and the Government of Kenya representatives, emphasized the importance of strengthening Kenya-U.S. trade relations at the recent Kenya-US Investment Forum. This event, held on September 22, 2025, highlighted the need for increased investment and economic collaboration, particularly focusing on the renewal of the AGOA agreement.
The delegation from Kenya's private sector included prominent figures such as KEPSA CEO Carole Kariuki, Chair Jas Bedi, Vice Chair Brenda Mbathi, alongside CEOs from Safaricom and KCB Bank. Kariuki, during a panel discussion on 'Financing Ecosystem for Investment Projects in Kenya,' emphasized AGOA's critical role in supporting industries, creating jobs, and transforming lives in Africa over the past 25 years.
Kariuki disclosed that in 2024, Kenya exported $470 million worth of apparel to the U.S., which supported 66,800 direct jobs, with three-quarters of these positions filled by women, thereby impacting nearly 800,000 livelihoods dependent on AGOA. For the United States, AGOA translates into $200-250 million in annual consumer savings, facilitates new supply chains, and provides strategic stability in Sub-Saharan Africa by minimizing conflict and extremist vulnerabilities.
KEPSA is advocating for a 16-year renewal of the AGOA agreement or, at the minimum, a two-year transition window to negotiate a comprehensive trade deal between Kenya and the U.S. This move aims to safeguard jobs, ensure trade continuity, maintain investor confidence, and further strengthen U.S.-Kenya ties beyond AGOA.
President William Ruto has also been pushing for AGOA's extension in discussions with U.S. Secretary of State Marco Rubio. During the forum, Ruto emphasized that Kenya is open for business, highlighting the country's stable economic fundamentals, including low inflation, stable exchange rates, dependable connectivity, green energy, a growing digital market, and world-class talent.
Kenya, as Africa's sixth-largest economy, offers access to a $3.5 trillion African Continental Free Trade Area (AfCFTA) and serves as a gateway to East and Central Africa, reaching a market of about 1.4 billion people. With over 150 American firms operating in Kenya and significant U.S.-backed projects in clean energy and technology, the country is positioned as Africa's preferred hub for trade, finance, and innovation. Its 'Silicon Savannah' has attracted over $300 million in tech investment, supported by a robust mobile broadband user base and a dynamic fintech sector.
In the realm of renewable energy, Kenya already generates 90 percent of its electricity from green sources, with aspirations to achieve 100 percent by 2030.