President William Ruto has clinched investment deals worth Sh107 billion from seven prominent Chinese companies during his official visit to Beijing, marking a significant milestone in Kenya’s economic and diplomatic engagements. The agreements, unveiled at the Kenya-China Business Forum, span critical sectors such as manufacturing, agriculture, tourism, steel production, and technology.
These landmark partnerships are expected to generate thousands of jobs and fuel the country’s economic expansion, reflecting a deepening of Kenya-China ties.
Key Investments Include:
- China Wuyi: Sh19.5 billion for a special economic zone in Kilifi, set to create over 5,000 jobs.
- Penfeng Investment Limited & Shangcheng Apparel Group: Sh2.6 billion for textile, garment, and solar power facilities in Kajiado.
- Rongtai Steel Limited: Sh19.5 billion steel factory in Lukenya, promising 700 new jobs.
- Shandong Jialejia Agriculture: Sh3.9 billion for a large-scale egg farm.
- Zonken Group: Sh41.6 billion in high-tech infrastructure and logistics projects.
- Huatian Hotel Group: Sh39 billion to acquire and lease top hotels in Nairobi, boosting tourism.
- Kenya Smart Transportation Industry Park: Sh6.5 billion towards developing smart mobility solutions, expected to create over 5,000 jobs.
President Ruto highlighted Kenya’s pro-investor stance, citing a 10-year tax holiday and favorable policies aimed at attracting foreign capital. He also invited global investors to take advantage of Nairobi’s position as East Africa’s leading business hub.
This wave of Chinese investment signals not only a boost to job creation and infrastructure but also reaffirms China’s pivotal role in Kenya’s long-term development strategy.
