Today, Kenyans are anxiously waiting to receive President Barak Obama during his very first visit to the nation of his ancestral roots since he became president of the United States. Obamas visit to Kenya is eagerly awaited as it also marks the first sitting American president to make official visit to Kenya- a vital East African nation. A lot has been done in preparation for a warm welcome to the ‘most powerful president’ on earth, withKenyan authority seemingly ensuring nothing is left to chance to impress their ‘son’. Meanwhile, let’s shift to the subject matter, (the Global Entrepreneurship Summit GES), which makes the purpose of this historic visit. According to GES 2015 factsheet, President Obama elevated global entrepreneurship to the forefront of the United States’ engagement agenda during a historic speech in Cairo in 2009. His administration has since delivered on this commitment, greatly expanding support for entrepreneurship and economic opportunity around the world. Since its inception, Global Entrepreneurship Summit has raised entrepreneurship on the global agenda and inspired new generations of innovators to choose entrepreneurship as a profession, opened up new markets for products and encouraged policymakers to break down barriers to business. As Kenya’s business leaders plan how best to exploit the deal-making opportunities in the country’s history starting today when the world convenes in Nairobi for this Summit, the entire East African Community is obviously inclusive. Needless to say, for our developing economies, entrepreneurship and social innovation are vital to unlock growth and economic inclusion. At the same time this will serve as a tool to curb the current mounting graduate unemployment. The EAC countries, with a population of more than 140 million people are,therefore, not spectators in this important process. When President Obama made his visit to Tanzaniatwo years ago, in July 2013, he profoundly incorporated the EAC agenda close to his heart. As he revealed, the five nations have what the White House had long been describing as promising local enterprises that form of creative partnerships with multinational corporations. The US president told business leaders in Tanzania that America was setting specific goals for itself and East Africa that include moving goods faster between ports like Dar es Salaam and Mombasa to Burundi and Rwanda in the interior; reducing waiting times for truckers at border crossings; increasing East African exports to the United States under the African Growth and Opportunity Act (AGOA) by 40 percent; and doubling trade within East Africa. Minus the weight of corruption, insecurity and governance issues, East Africa has the attributes of a marketplace, where choice fosters competition and ensures the prospects of the region’s growth. It is going to be another opportune moment for American or the world entrepreneurs to seize this market with the seriousness it deserves. In terms of trade, the US mostly exports aircraft, machinery including electrical, optic and medical instruments and pharmaceutical products among others. In return, we export mainly coffee, tea and apparel.US investment into these countries has also been focusing on commerce, light manufacturing and tourism.This chain has not fully been exploited since there is a lot more that can be offered from both sides. This is why the over six thousand international business moguls and profound billionaires of the earth should traverse the region and invest in our vast unexploited opportunities. Through Kenya, we stand to use the spotlight to show the international investors that we as a region are one of the best African emerging economic blocks to invest in. So far we have a relatively stable macroeconomic environment, an increasingly attractive and robust services sector and improved infrastructure development-talk of LAPSET projects, the northern corridor that would link Mombasa, Kampala and Kigali just to mention a few other major initiatives. Well, the United States has had fundamental interests in our functioning markets which are a prerequisite for our economic benefits and deepening relationships.This partnership in East African economies and our development agenda will always produce benefits for the people and prosperity in terms of more economic achievements. It is obvious the West’s growing interests in East Africa are a source for natural resource imports, a growing and relatively underutilized market for exports and investment, and an opportunity for their firms to gain global experience.East African local manufacturers on the other hand have the opportunity to have joint venture deals and partnerships boosting their capacity for growth through technological assistance for various industries. In conclusion, one would be tempted to view Obama’s coming for Global Entrepreneurship Summit as a Kenyan affair but the implications of the visit cuts across the region and the continent at large. In fact it is the first time that GES is held in Africa which is proof of the confidence global economies have in East Africa as a region. After all, Global Entrepreneurship Summit 2015 in Nairobi has come at an opportune moment when entrepreneurship needs to be at the helm of our policy making and national agenda! oscar.kimanuka@yahoo.co.uk
