Sierra Leone’s President, Julius Maada Bio is set to partake in a high-level round table business forum during his ongoing official visit of to the Kenya.

Being an economic powerhouse in the region, Kenya has continued to play a pivotal role in the East African regional trade, with the Port of Mombasa playing a key maritime role of connecting the EAC (EST African Community) to the globe.

According to reports, Africa remains Kenya’s biggest market for her exports. However more trade is with the East African neighbours, supported by trade instruments under the region’s common market.

Kenya’s main export markets in the continent are Uganda, Tanania, Rwanda, South Sudan, Burindi, South Africa and Egypt.

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Others export markets are Somalia, DR Congo, Ethiopia, Sudan, and Zambia, countries that formed the bulk of trade earnings last year.

Sierra Leone is nowhere near Kenya’s key trading partners as volumes remain low. However, the two countries have enjoyed good bilateral ties over years which are expected to be enhanced with President Bio’s visit.

Kenya is one of the African Union member states that contributed troops to the United Nations Mission in Sierra Leone (UNAMSIL) from 1995 to 2005.

UNAMSIL’s mission was to stabilise Sierra Leone and implement the Lome Peace Agreement, with the mission ending in successfully in 2005.

During the Ebola virus epidemic, Kenya donated $1 million to Guinea, Liberia and Sierra Leone.

President Bio is expected to be the chief guest during this year’s Madaraka Day celebrations, on Wednesday (June 1).
During his visit, he will hold talks with his host, President Uhuru Kenyatta, on bilateral relations.

At least seven Memorandum of Understanding (MoUs) are expected to be signed, further enhancing relations.
Among them is on peace and security and trade.

Kenya’s Industrilisation, Trade and Enterprise Development ministry will be leading the Kenyan business community in talks with their Sierra Leone counterparts, on trade and investment.

“The forum will serve as a platform for the business community to exchange views and develop proposals on measures that both countries can adopt with the view of increasing the overall trade between the two countries,” the ministry said in a statement on Monday, with the talk being held today (Tuesday, May 30).

What business opportunities are there?

Trade between both the two countries is considered to be minimal.

According to reports, In 2010, the value of trade between both countries was quoted at US$611,933.

Kenya exported goods worth $542,215 to Sierra Leone with the trade being in favour of Kenya.

Main goods that the East Africa state exports to Sierra Leone are medicaments, printed matter, tea and mate, textiles, paper, cosmetics and electronics.

Kenya’s main imports from Sierra Leone include ores and concentrates of base metals, bearings, furniture and parts of TV receivers.

In 2020, Kenya had a large net trade with Sierra Leone in the exports of Paper Goods ($2.61m), chemical products ($374,000), and instruments ($115,000).

Sierra Leone’s main earnings on exports to Kenya were in the shipment of Machines ($136,ooo ), paper goods ($37,800), and Wood Products ($19,400), industry data indicates.

Renewed ties and new MoUs are expected to open up more opportunities for the private sectors of the two countries, increasing trade and investments.

It also comes at an opportune time when the two countries are strategizing to benefit from the African Continental Free Trade Area (AfCFTA).

The two are among countries that have ratified the deal, which seeks to enhance intra-Africa trade, which is currently at a low of 15 per cent compared to common markets such as the EUwhich is at 67 per cent.