Kenyan firms told to aggressively market their products in the region
Friday, October 11th, 2019
Kenyan firms are challenged to aggressively market their products within the East African Community (EAC) and other countries in the African Great Lakes region to regain lost market share.
Kenya Export Promotion and Branding Agency CEO, Peter Biwott said a study conducted by the organisation said United Arab Emirates, India and China have reduced Kenya’s share in the regional market.
“There is a worrying trend in the EAC region that is indicative that Kenya and other EAC member-countries no longer dominate the regional trade,” he said in Nairobi.
Biwott said to regain the lost ground they need to market Kenya’s products aggressively within EAC and other countries such as Democratic Republic of Congo (DRC).
He said a study conducted by the agency reveals that although Kenyan products are perceived to be of high quality and could have strong demand in Rwanda and Burundi and beyond, the penetration of the markets is still not to the level expected.
Although Kenya’s exports increased from Sh251 billion in 2006 to Sh613 billion in 2018, the imports have increased from Sh521 billion to Sh1.76 trillion during the same period, thereby leaving a deficit in the balance of trade of Sh1.14 trillion.
“For Kenya to sustain exports and manage the balance of trade there is a need to increase the level of exports,” Biwott said.
He said the country needs to engage in activities that enhance market access, right from negotiations, market researches and diverse promotion activities.