This archive report was first published on 7 August 2019.
Hong Kong Seeks Investment Opportunities in Kenya ¶
Published on August 7, 2019
A delegation of 10 multi-billion-dollar companies from Hong Kong is in Kenya to explore investment opportunities in various sectors, including banking, construction, and manufacturing.
The delegation, led by Director of Research of the Hong Kong Trade Development Council Nicholas Kwan, aims to create awareness about the vast investment opportunities in Kenya and the rest of Africa.
According to Kwan, the companies are keen to exploit lucrative opportunities in the continent, particularly in major infrastructure projects such as the planned seaports and agro-processing, mainly for export.
The delegation has already visited Djibouti and is considering Kenya and Djibouti as key entry points into Africa as part of China's Belt and Road Initiative (BRI).
Through BRI, China hopes to connect a third of the world by opening them up as potential markets for its own produce and a source for raw materials.
Kenya Investment Authority (KenInvest) played host to the Hong Kong delegation, highlighting the major projects that are only awaiting funding, including Konza City with a projected budget of Sh1.45 trillion.
Moses Ikiara, the chief executive of KenInvest, pointed out to the delegations about the major opportunities in the apparels and leather processing sectors which have the potential to create millions of jobs.
Richard Ngatia, the President of the Kenya National Chamber of Commerce and Industry (KNCCI), said such trade fairs presented major opportunities, especially for the small local businesses to find support in finding new markets.
