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Investing in Kenya will offer Japanese enterprises access to the East African Community (EAC), COMESA, the Tripartite Free Trade Area, and Africa Continental Free Trade Area markets of more than 1.4 billion people and a combined GDP of $3.4 trillion. A good return on investment is guaranteed, especially in our renewable energy, manufacturing, agriculture, and technology sectors.
Today the PS Abubakar Hassan had the pleasure of meeting with the World Bank delegation led by Dr. Hassan Zaman, Regional Director for Equitable Finance and Institutions (EFI Africa East Region).To discuss critical engagements led by the State Department of Investment Promotion (SDIP) on access to finance for MSMEs, green private capital mobilization and business-enabling reforms set up to spur investment and trade at the subnational level.
Principal Secretary for the State Department of Investment Promotion, Abubakar Hassan, hosted a workshop today with Chief Executive Officers (CEOs) from select Business Membership Organizations (BMOs) to deliberate on the implementation roadmap for the Business Reform Action Plan for Kenya (BRAP-K), specifically focusing on reducing the cost of doing business in the country.
KDC is one of the tools given to my state department to assist in attracting and enabling private investments through a de-risking mechanism (co-investment). The vision is to transform KDC into the Kenya Sovereign Wealth Fund. Below is the 2023 Look Back and 2024 Look Forward
PS Abubakar Hassan toured the facility and noted after the launch 100 youth have already been employed and onboarded and 700 more youth are to be onboarded in the year. The first BPO Enterprise ( Majorel) in the EPZ Program at the Coast Region was launched by CS Miano in October last year.
BPO is a new but promising job creation sector for Kenyan youth. We aim to become the top BPO destination in Africa.
The six investors we are onboarding today are from Kenya, Tanzania, Japan, Switzerland, the Netherlands, and Sri Lanka. Combined, they will invest a total of 180 million USD and create about 3000 jobs. Their decision to invest in Kenya reflects confidence in Kenya’s potential as an investment destination of choice.
In a momentous trade and investment development, CS Rebecca Miano, in the company of PS Abubakar Hassan, successfully inaugurated the Packed at Source EPZ Warehouse Facility situated in Tilisi. This milestone underscores a significant step forward in the region's economic landscape, as the facility is poised to play a pivotal role in enhancing trade and investment activities. The event marks a testament to the collaborative efforts fostering economic growth and innovation in the area
Kenya is making bold and strategic investment attraction, facilitation and enabling moves. The future is bright.https://flo.uri.sh/visualisation/
Our strategic intent & focus involve:
1. Converting investor leads into actual deals through the implementation of competitive business reforms
2. First-class coordinated investment facilitation
3. Structuring of investment-grade, bankable projects