Kenyan officials to participate in roadshows in China to multiply investment inflows

Kenya is planning to conduct roadshows in China to boost investment inflows into the country. The managing director of Kenya Investment Authority (KenInvest), Moses Ikiara said that a team of public and private sector officials will visit three provinces in China in March.

“The aim is to woo Chinese investors to set up operations in Kenya in the manufacturing sectors, especially in the textile, construction, agribusiness and leather industries,” Moses Ikiara opined. “We are now doing a following-up to ensure that the Chinese investors commence operations in Kenya as soon as possible,” he said, as reported by Xinhua.

According to him, 40 Chinese companies have expressed interest in investing in Kenya as a result of the country's participation in the China International Import Expo that took place in November 2018. China is among the top 10 sources of foreign direct investment in Kenya, Ikiara said.

Kenya is banking on new investments to expand local production and cut reliance on imports, he added. “Looking at the pace of new Chinese projects, we expect China to become one of the leading investors in Kenya in the next five years,” he further said.