TradeMark Africa has announced it has received a sum of €25 million (KSh3.3 billion) funding from the European Union. European Union Ambassador to Ken
TradeMark Africa has announced it has received a sum of €25 million (KSh3.3 billion) funding from the European Union. European Union Ambassador to Kenya, Henriette Geiger confirmed the report and said the funding is set to facilitate a five-year programme focused on solving Kenya’s supply chain hitches, storage and logistic challenges.
BEEEP
The funding will be channeled through TradeMark Africa (TMA), formerly TradeMark East Africa to enable Kenya to expand and green her export base. TMA is a trade aid agency that has been helping in the integration of the East African Community (EAC) by supporting cross-border trade since 2010. The Nairobi-based agency also works with regional intergovernmental entities to grow trade.
The Business Environment and Export Enhancement Programme (BEEEP) seeks to build interventions already supported by the Government of Kenya that seek to grow the country’s horticultural exports. It also plans to rectify Kenya’s skewed trade balance through export growth, factor productivity, stimulating economic development and job creation, in an inclusive and sustainable way.
BEEEP’s plan will include increasing the supply of locally produced goods that meet export market requirements, reducing trading times and costs, and helping shift export supply chains from air freight to sea freight. “We are happy to support the Kenyan government in achieving a sustainable growth of its exports, including greening of transport and logistics,” said Henriette Geiger.