News
"We continue to position Kenya as a competitive investment destination, not an aid destination and not a loan destination." - Abubakar Hassan
Abubakar Hassan, the PS of Investment Promotion, played a vital role in opening the African Private Sector Dialogue on the African Continental Free Trade Agreement (AfCFTA). The event brought together prominent figures including President Williams Ruto, President Azali Assoumani, Wamkele Mene (the President of Comoros and AU Chairman), and the AfCFTA Secretary-General, among others.
EPZA, which stands for the creation of a special economic zone, is an ambitious project that aims to attract investment through the establishment of both public and private special economic zones. The government is fully dedicated to facilitating the development of this project, recognizing its potential benefits. One significant advantage is the availability of land with essential infrastructure such as water, roads, electricity, and a port, making it an attractive proposition for investors.
In a productive meeting held today, Investment Promotion PS engaged in a fruitful discussion with Hon. Gideon Mungaro, the Governor of Kilifi County, alongside the Chairman of the Kenya Chinese Chamber of Commerce. The primary objective of the meeting was to bolster the industrial base of both countries and expand their industrial spaces. They also explored potential opportunities for public-private partnerships in the development and construction of a 3,000-acre Special Economic Zone in the Kaloleni sub-county.
The State Department for Investments Promotion has successfully orchestrated a crucial meeting between prominent Italian investors, "ENI SPA," and the cities of Kisumu, Nakuru, and Eldoret in Kenya. The primary focus of this meeting was to discuss an innovative Waste to Energy Project, which seeks to harness the potential of biogas generation from waste landfills. This significant initiative holds the promise of promoting environmental sustainability while ensuring accessible and renewable energy sources for the pilot counties.
The Investment Promotion PS, accompanied by SEZA Chairman Fred Muteti and CEO Dr. Kenneth Chelule, recently paid a visit to the Naivasha Special Economic Zones Authority (SEZA) in Kenya. The purpose of the visit was to assess the ongoing construction of the Zone and witness the remarkable progress achieved thus far. The team was delighted by the impressive development, recognizing the immense potential of the Zone to attract investments and stimulate economic growth.
In a notable development, the Cabinet Secretary, Honorable Moses Kuria, officially launched the Kenya International Investment Conference (KIICO). The conference, scheduled from 29th to 31st May at Safari Park Hotel in Nairobi, has garnered significant attention, with more than 55 Trade Ministers and CEOs of the top 100 companies in Africa set to participate.
In a series of productive meetings, Hon. Moses Kuria concluded three days of engagements with various businesses, state agencies, and investors, culminating in signing a Deal Book. This agreement will guide future interactions and collaborations, with a strong focus on implementation.
In a significant development, the State Department of Investment presented its budget for the fiscal year 2023/24 to the parliamentary departmental committee overseeing Trade, Industry & Cooperatives. The budget proposal reflects a meticulous alignment with the government's ambitious Bottom Up Economic Transformation Agenda (BETA), showcasing a strong commitment to driving sustainable economic progress.
The EPZ Program was highlighted during the 1st Agri-Africa Expo 2023, which took place at KICC. The expo focused on raising awareness among the public about the program and its benefits. EPZA (Export Processing Zones Authority) showcased a diverse range of agro-processed products and emphasized the potential investment opportunities within the agricultural sector.