Kenya has secured Sh106.7 billion from seven Chinese companies, funds that will boost the manufacturing, agriculture, and tourism sectors.
The deals, signed during the Kenya-China business forum in Beijing, mark a major step in attracting foreign capital to promote job creation and economic development in the country.
Agriculture sector
Among the notable investments is a Sh51.9 billion deal between Kenya and Zonken Group.
The group has invested in large-scale aloe cultivation, processing, and export based on 300 acres of land in Baringo County, a move expected to create 5,000 jobs.
They will also construct a vineyard for grape seedlings on 72 acres of land in Baringo, where apple and grape seedling cultivation will take place.
Another planned investment is between Kenya and Shandong Jialejia Agriculture and Animal Husbandry Technology Company, which will establish a laying hen farm with a stock of 500,000 hens, a breeding chicken farm with over 10,000 birds, and a feed factory on 100 acres in Kajiado.
Manufacturing
For the manufacturing sector, planned investments include the Sh19.5 billion commitment by China Wuyi to establish a Special Economic Zone (SEZ) in Kikambala, Kilifi County.
Penfeng Investment Limited and Shangcheng Apparel Group have also jointly committed to Sh2.6 billion for the construction of storage and production facilities for the textile, garment, and solar energy sectors in Kajiado County.
While Rongtai Steel Limited has committed Sh13 billion to invest in a steel production factory in Lukenya.
Still under manufacturing, Kenya Smart Transport Industry Park and Anhui Juibao Electronic Technology have signed a Sh6.5 billion deal for the development of smart traffic components in Mombasa, a project expected to employ 5,000 people.
Tourism
The tourism sector is set for a Sh3 billion boost following Huatian Hotel Group’s decision to acquire and lease hotels in Nairobi.
The deals follow President William Ruto’s three-day visit to China, during which he called for reforms, including equal representation of African countries at the UN Security Council and governance reforms at the IMF and World Bank to make the institutions independent and apolitical.
Kenya has secured
Sh106.7 billion
from seven Chinese companies, funds that will boost the manufacturing, agriculture, and tourism sectors.
The deals, signed during the Kenya-China business forum in Beijing, mark a major step in attracting foreign capital to promote job creation and economic development in the country.
Agriculture sector
Among the notable investments is a Sh51.9 billion deal between Kenya and Zonken Group.
The group has invested in large-scale aloe cultivation, processing, and export based on 300 acres of land in Baringo County, a move expected to create 5,000 jobs.
They will also construct a vineyard for grape seedlings on 72 acres of land in Baringo, where apple and grape seedling cultivation will take place.
Another planned investment is between Kenya and Shandong Jialejia Agriculture and Animal Husbandry Technology Company, which will establish a laying hen farm with a stock of 500,000 hens, a breeding chicken farm with over 10,000 birds, and a feed factory on 100 acres in Kajiado.
For the manufacturing sector, planned investments include the Sh19.5 billion commitment by China Wuyi to establish a Special Economic Zone (SEZ) in Kikambala, Kilifi County.
Penfeng Investment Limited and Shangcheng Apparel Group have also jointly committed to Sh2.6 billion for the construction of storage and production facilities for the textile, garment, and solar energy sectors in Kajiado County.
While Rongtai Steel Limited has committed Sh13 billion to invest in a steel production factory in Lukenya.
Still under manufacturing, Kenya Smart Transport Industry Park and Anhui Juibao Electronic Technology have signed a Sh6.5 billion deal for the development of smart traffic components in Mombasa, a project expected to employ 5,000 people.
Tourism
The tourism sector is set for a Sh3 billion boost following Huatian Hotel Group’s decision to acquire and lease hotels in Nairobi.
The deals follow President William Ruto’s three-day visit to China, during which he called for reforms, including equal representation of African countries at the UN Security Council and governance reforms at the IMF and World Bank to make the institutions independent and apolitical.
By Esther Nyambura