Kenya’s private sector has placed trust at the centre of the country’s investment and economic growth agenda, saying stronger confidence in public institutions, markets and digital systems will be critical to improving competitiveness and attracting capital.
Business leaders and policymakers raised the issue during a high-level Private Sector Roundtable in Nairobi ahead of the inaugural Trust Summit, set for October 21–23, 2026.
The roundtable examined “Trust as an Economic Asset: Strengthening Public-Private Dialogue, Regional Economic Cooperation and Digital Trust for Market Resilience and Sustainable Growth,” with participants exploring how stronger relationships between government, businesses and citizens can support investment, regional trade and digital commerce.
The discussions came against a backdrop of heightened economic uncertainty, geopolitical tensions and rapid technological change, all of which are influencing investor confidence and the way businesses interact with institutions.
Representing Dr. A. Korir Sing’Oei, Principal Secretary in the State Department for Foreign Affairs, Mr. Mustafa Ibrahim, Deputy Director-General and Head of the Policy, Research and Strategic Analysis Directorate, said trust had direct implications for Kenya’s economic prospects.
“We meet at a time of considerable headwinds in the global economy. Confidence in institutions has come under strain, economic uncertainty has risen, geopolitical tensions persist, and rapid technological change is reshaping how governments, businesses and citizens interact,” he said.
Ibrahim said government had a responsibility to create a predictable policy and regulatory environment, while businesses must complement this through ethical leadership and responsible corporate governance.
Prof. XN Iraki of the University of Nairobi’s Faculty of Business and Management Science said weak trust creates additional costs for businesses and investors.
“When people trust each other, businesses spend less on contracts, audits, and security, and can charge more without losing customers. Investors show up too. But when trust breaks down, everyone pays for it: higher interest rates, more red tape, slower growth,” Iraki said.
Mathias Kamp, Country Director of the Konrad-Adenauer-Stiftung (KAS) Kenya Office and co-convener of the Trust Summit, said economic investments must be supported by institutions that command public and investor confidence.
“Trust is a prerequisite for investment and economic growth. You can invest heavily in infrastructure, but if the institutions and businesses operating within it are not trusted, the infrastructure alone will not deliver the outcomes we expect,” he said.
Lucy Muchoki, Partnership Director at the Kenya National Chamber of Commerce and Industry (KNCCI), called for concrete action to address declining confidence.
“Trust is not simply about reputation; it has direct economic value. Let us move beyond simply agreeing that trust matters. Let us identify what needs to change and commit to where partnerships are required,” she said.
Summit targets measurable commitments
The roundtable forms part of preparations for the Trust Summit, which is expected to move the conversation from broad discussions on trust to measurable commitments and accountability.
The summit will produce a Nairobi Statement on Global Trust for Sustainable Development and Peace, setting out principles and areas of agreement reached by participants.
It will also launch a Trust Barometer, a public dashboard intended to track trust levels and benchmarks over time.
A joint Trust Summit Secretariat will be established to monitor, verify and publicly report progress on commitments made during the summit.
Another planned outcome is a dedicated report on Africa’s trust landscape, focusing on the causes of the continent’s trust deficit and priority interventions for governments, institutions and development partners.
The summit will also develop policy recommendations and action frameworks covering international cooperation and multilateralism, democratic governance, trust as an economic asset and information integrity in the digital age.
Organisers say the mechanisms are intended to ensure that commitments made at the summit can be tracked beyond the event.
Trust deficit raises cost of capital
The push to strengthen trust is driven partly by evidence that weak institutional confidence carries significant economic costs.
The 2025 Edelman Trust Barometer puts global trust in government at 52 per cent, compared with 62 per cent for business.
For low-income economies, the consequences are particularly severe. Research cited in the Trust Summit concept note indicates that these countries attract less than one per cent of global foreign direct investment despite having significant capital requirements for productive development.
African countries are also estimated to pay approximately US$75 billion in additional interest annually as a result of risk premiums associated with perceptions of institutional trust.
The Trust Summit is expected to examine how these challenges can be addressed through stronger public-private dialogue, better governance, greater international cooperation and improved digital trust.
For Kenya, the meeting provides an opportunity to position Nairobi as a hub for global conversations on investment, governance and economic resilience.
The inaugural Trust Summit: Nairobi Dialogues on Global Trust will bring together global leaders, policymakers, businesses, academics, civil society, media and young people.
The summit is being convened by the Ministry of Foreign and Diaspora Affairs through the State Department for Foreign Affairs, the Executive Office of the President, the Open Government Partnership, Strathmore University, UNDP Kenya, the Ford Foundation and Konrad-Adenauer-Stiftung, in partnership with the Institute of Public Finance.
The October 21–23 summit will launch the Nairobi Dialogues on Global Trust as a platform for dialogue, partnership and collective action aimed at rebuilding confidence in institutions, economies and international systems.
